Insuring Tomorrow: Engaging Millennials in the Insurance Industry Presented by: Tony Cañas, CPCU, MBA, AU, AIC, ARM, ARe, AMIM, AIS, API, ASLI, CC, ACB Client Advisor, Property and Casualty at The Jacobson Group Author - Insuring Tomorrow: Engaging Millennials in the Insurance Industry Chief Motivational Officer at Insurance Nerds

Browse to PollEv.com/antoniocanas551 #InsuringTomorrow PARTICIPATE Browse to PollEv.com/antoniocanas551 Replace with new version

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#InsuringTomorrow I’m here today to tell you that you can’t retire. We can’t afford to lose your knowledge!

REMEMBER THESE TWO THINGS #InsuringTomorrow REMEMBER THESE TWO THINGS 1 2 Millennials were raised by Baby Boomers. Millennials are probably driving other industry’s crazy too.

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INSURANCE UNEMPLOYMENT #InsuringTomorrow INSURANCE UNEMPLOYMENT National 3.9% Insurance 1.5% Source: U.S. Bureau of Labor Statistics, March 2018

#InsuringTomorrow I tell a joke about a Boomer talking to a Millennial and at the end of the conversation realizing that the message went right over the Millennial’s head. So he writes the Millennial a memo, in cursive, which the Millennial can’t read. The image needs to be something like an old fashion pen and notepad.

GENERATIONAL DIFFERENCES #InsuringTomorrow GENERATIONAL DIFFERENCES I start explaining the difference between how Boomers and Millennials were raised by telling a story of how boomers were carried home from the hospital in a parent’s arms in a car with metal bumpers, no seat belts and no air bags. We need an image of a 1950s car. I use this image to contrast how our childhoods were very different. I tell a personal story of asking for a skateboard when I was 8 years old, getting it, but also getting a ton of safety equipment that basically made me look like this kid. We need an image as similar to this one as possible. Any cap and gown image will do. I use this one to tell a story of how different our parents treated us when we graduated high school in the two big generations.

GRADUATED INTO VERY DIFFERENT WORLDS #InsuringTomorrow GRADUATED INTO VERY DIFFERENT WORLDS I start explaining the difference between how Boomers and Millennials were raised by telling a story of how boomers were carried home from the hospital in a parent’s arms in a car with metal bumpers, no seat belts and no air bags. We need an image of a 1950s car. I use this image to contrast how our childhoods were very different. I tell a personal story of asking for a skateboard when I was 8 years old, getting it, but also getting a ton of safety equipment that basically made me look like this kid. We need an image as similar to this one as possible. Any cap and gown image will do. I use this one to tell a story of how different our parents treated us when we graduated high school in the two big generations.

The cost of college increased 1,130% in the past 30 years. #InsuringTomorrow COST OF COLLEGE ON THE RISE The cost of college increased 1,130% in the past 30 years. Record Student Debt + Graduating into a Recession = Boomerang Kids

Record Student Debt + Graduating Into a Recession = Boomerang Kids

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The cost of college increased 1,130% in the past 30 years. #InsuringTomorrow COST OF COLLEGE ON THE RISE The cost of college increased 1,130% in the past 30 years. Record Student Debt + Graduating into a Recession = Boomerang Kids

#InsuringTomorrow COMMUNICATION STYLE The Boomer and Millennial generations have different communication styles. I tell a story of how different cultures communication styles are different and how because of the way we were raised Millennials just have a different communication style. “So that Millennial in the meeting on his phone, might be distracted, or he might be taking notes, putting reminders on his calendar and otherwise being productive. There’s no way to know. You just have to trust him.”

#InsuringTomorrow TECHNOLOGY DEPENDENT

years old is the average age of insurance agents. #InsuringTomorrow GROWING TALENT CRISIS 59 74% 85% years old is the average age of insurance agents. increase in the number of insurance professionals aged 55 and older in the past 10 years. of the industry’s staffing needs will not be met by risk and insurance graduates. Source: U.S. Bureau of Labor Statistics; PropertyCasualty 360

ENTRY-LEVEL ROLES vs. 20-30 Years Ago Today #InsuringTomorrow The image just needs to illustrate how entry level roles back in the day were much more “meaty” than they are today 20-30 Years Ago Today

MILLENNIAL LOYALTY 82% of Millennials believe they are loyal #InsuringTomorrow MILLENNIAL LOYALTY 82% of Millennials believe they are loyal Only 1% of HR professionals agree. Different definitions of loyalty Combine with Different Definitions of loyalty Source: Fortune, Deloitte

Where will our future leaders come from? #InsuringTomorrow Where will our future leaders come from?

Millennials are entering the workforce with the following: #InsuringTomorrow Millennials are entering the workforce with the following: More Education Less Work Experience Ca Less Life Experience

SURVEY SAYS At what age do you think you are an adult? #InsuringTomorrow At what age do you think you are an adult? How long do you have to be at a job before considering it long-term? 30 years SURVEY SAYS 11 months

WHAT ARE MILLENNIALS LOOKING FOR? #InsuringTomorrow WHAT ARE MILLENNIALS LOOKING FOR? Challenging work Ability to make a positive impact Space to grow Flexible schedules The latest technology

#InsuringTomorrow INDUSTRY SOLUTIONS

MAKE THEIR FIRST DAY A SUCCESS. HELP THEM UNDERSTAND THE MISSION. HOW TO ENGAGE MILLENNIALS #InsuringTomorrow MAKE THEIR FIRST DAY A SUCCESS. HELP THEM UNDERSTAND THE MISSION.

CREATE A CLEAR AND OBJECTIVE EVALUATION SYSTEM. #InsuringTomorrow CREATE A CLEAR AND OBJECTIVE EVALUATION SYSTEM. PROVIDE CONSTANT AND HONEST FEEDBACK.

OFFER FLEXIBILITY AND CASUAL DRESS. #InsuringTomorrow OFFER FLEXIBILITY AND CASUAL DRESS. ASK FOR THEIR OPINIONS.

HELP THEM SEE ALL THE POSSIBLE CAREER PATHS. #InsuringTomorrow BECOME A MENTOR. HELP THEM SEE ALL THE POSSIBLE CAREER PATHS.

ASSUME GOOD INTENTIONS AND LACK OF EXPERIENCE #InsuringTomorrow ASSUME GOOD INTENTIONS AND LACK OF EXPERIENCE Discuss pursuing CPCU and other designations and how those can fix the lack of experience

DON’T MAKE IT EASY; MAKE IT INTERESTING #InsuringTomorrow DON’T MAKE IT EASY; MAKE IT INTERESTING Anything to illustrate the idea of no longer simplifying jobs to the point where any high school dropout can do them and they’re boring for college grads and instead challenging them with interesting work.

TELL THEM ABOUT CPCU, RPLU, ARM, ETC #InsuringTomorrow TELL THEM ABOUT CPCU, RPLU, ARM, ETC Anything to illustrate the idea of no longer simplifying jobs to the point where any high school dropout can do them and they’re boring for college grads and instead challenging them with interesting work.

KEEP THE CONVERSATION GOING #InsuringTomorrow KEEP THE CONVERSATION GOING Connect with me on LinkedIn. Check out the new podcast! Read the book: Insuring Tomorrow.

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QUESTIONS? THANK YOU! Tony Cañas, CPCU, MBA, ARM, ARe, ASLI Client Advisor, Property and Casualty Author - Insuring Tomorrow: Engaging Millennials in the Insurance Industry The Jacobson Group tcanas@jacobsononline.com +1 (515) 707-0910 For more information, visit jacobsononline.com. Follow us on Twitter! @JacobsonGroup @TonyCanas4