Survey Finds Millennials See Insurance as a Good Career
Published: September 8, 2016
Updated: July 24, 2018
Author: Luke Jones
CATEGORY: Industry News
A recent survey conducted by Vertafone in the United States shows that Millennials are more in tune with insurance than originally thought. The results of the study points out that 90% of millennials see the insurance industry as good for long-term career prospects and is identified as a good industry for job satisfaction.
For some reason, insurance has been painted as an old man’s game. Many believe that young professionals see the industry as boring and a poor long-term career prospect. Vertafone is a Washington-based company that offer technology solutions to help the insurance industry prepare for digitization.
The survey was the company’s third annual study to millennials in the insurance industry. The survey aims to gauge the opinion of professionals in terms of technology and career satisfaction. Vertafone surveyed 4,000 insurance professionals through an online poll between August 12 and 26.
Millennials are defined as professionals between the ages of 19 and 35. The results found that 90 per cent believe that a career in insurance meets criteria commonly associated with job satisfaction. In this case, professionals considered work-life and career development.
78 per cent cited work-life balance as a good aspect of the insurance industry, and over 70 per cent say the career growth opportunities are important. 81 per cent also said that financial stability is a big factor in millennials seeing the insurance industry in a good life.
“These four characteristics are essential career priorities for millennials according to a recent Gallup report titled, What Millennials Want from Work and Life,” the statement adds.
The survey mirrored the 2014 and 2015 results. 98% of respondent rated this as a “very important” or “important” benefit in 2015, tied with compensation (98%) and enjoyment of work (96%).