We hear alarm bells sounding all the time. Evidently, the insurance and benefits industry is dying. Our supposed demise will result from the youngest generations (the youngest of the Millennials and now Gen Z) not wanting anything to do with insurance.
Seriously? This is somehow a new phenomenon?!
Of course they don’t want anything to do with insurance! But that doesn’t make them any different from any generation that came before them.
Be honest, how many of you grew up with the goal and aspiration of getting into insurance? There aren’t many of you raising your hand right now.
Tap into your “inner startup”
The insurance and benefits industry has a reputation for being conservative, traditional, and boring. Of course, once you’re in the industry, you learn this isn’t the case.
However, I believe we would all benefit by operating with the energy and excitement that is more common in startup businesses. In fact, it’s necessary to overcome a reputation that may keep young talent from giving the industry serious consideration.
Guess what! It’s ours for the having.
Kids these days
Maybe it happens with every generation, but we keep harping on Millennials and Gen Z as being “different.” We keep bemoaning the fact they want to:
- Make a difference
- Be part of a collaborative team
- Only be associated with authentic organizations
- Pursue a greater purpose
- Help build something new
- Work in an exciting environment
Hell, who wouldn’t want that? It sounds pretty good to me!
Sadly, too many businesses in our industry believe they can’t satisfy these needs or desires. Stop selling yourself short.
Change the conversation
When you have conversations focused on insurance products, whether with potential team members or prospects, you’re having a conversation most find boring. Almost nobody wants to participate in the discussion, much less find it to be an exciting career opportunity.
The thing is, insurance products are such a small part of what you do. It’s time to start emphasizing what you do. It's time to share the significant impact you have on your clients and their businesses.
When you do your job the way it needs to be done, no other advisor makes a greater impact on a client's business. You have the opportunity (I would say responsibility) to impact your clients' businesses strategically, financially, operationally, and, because of your connection to their employees, emotionally.
No other advisor has such a broad and significant impact. And the effect isn't limited to the business itself—you impact every employee associated with those businesses. I'm guessing this is what has kept many of you in an industry you never intended to enter.
You are a difference-maker
You don’t merely sell insurance. You, my friend:
- Make a difference
- Embody collaboration
- Are some of the most authentic people I know
- Work with a great purpose
- Are building something new and exciting
If that list sounds familiar, it should. It is the same list I used above to describe what the youngest generations desire.
I hear opportunity
The way some in our industry run their businesses reinforces our less-than-interesting reputation. For those businesses, the alarm bells of their imminent demise will only ring louder.
However, you can turn the alarm-bells-of-demise to the sound of opportunity. You have the chance to attract young talent and bring startup energy into your business. To do this, you need to shift the way you brand and promote yourself.
Too many agencies fall into the trap of positioning themselves as a better version of their boring competitors.
That’s not enough. “Better boring” is still BORING!
You must help others see you compete in an entirely different category, a category that can check all the boxes.
☐ Builder of something new
☐ Exciting and energized
Do this and, not only will you attract new talent, but you will also find yourself attracting new clients.
I'm going to guess you will also find personal energy you may have thought you lost a long time ago. Now, go embrace your inner startup!
Photo by madamlead.