Survey: Millennial Shop Owners Eager to Work with Insurers

Cautious millennial business owners are more likely than other generations to work with insurance agents on a wide variety of insurance and financial issues, according to recent survey data.

Dec. 10, 2018

Dec. 10, 2018—Cautious millennial business owners are more likely than other generations to work with insurance agents on a wide variety of insurance and financial issues, according to recent survey data.

According to Nationwide's fourth annual business owner survey, 69 percent of millennial business owners work with an insurance agent, followed by boomers at 66 percent and Gen X at 59 percent. The most common reason for working with an insurance agent among all generations is the trust that business owners place on the guidance and expertise from an agent.

Further, Millennials are relying on agents for guidance in more areas than other generations. Over six-in-ten business owners (63 percent) report having an insurance agent, while almost seven-in-ten Millennials have one (69 percent).

For more survey data, visit prnewswire.com.