Skip to Main Content
How can we encourage Millennials to buy and be loyal to our life insurance?
business marketing market research finance creative strategy business customer insight customer relations loyalty
top 50%
71 months ago
Small pic 3 ways to tailor your local media plan to speak to millennials

Millennials are getting married, buying homes, having children, and making other major life decisions later and later in life compared to generations before them. Buying life insurance is no exception. As the largest generation in history, Millennials are becoming a dominant force in the economy, with a projected $10 trillion of spending power over the course of their lifetime. The company that successfully figures out how to market and sell insurance to Millennials, and even more importantly keep them loyal and engaged for decades to come, will have a serious competitive advantage in the insurance industry.

We, as a life insurance company, know it is difficult to target selling to the Millennial generation and we are looking to figure out what we can do to make you interested. What would make you loyal to an insurance company after purchasing a policy to keep you from switching companies and to keep you interested in buying other products from the same company?


Answer each item separately:

1. What prevents Millennials from thinking about life insurance and/or purchasing it?

2. What new practices, ideas, products, or changes could be implemented to encourage Millennials to purchase life insurance with us?

3. What new practices, ideas, products, or changes could be implemented to encourage Millennials to remain loyal to Guardian after purchasing?

4. Why will your ideas described in items 2 & 3 be effective for a Millennial target audience?

5. How would you expose your new insurance offerings to Millennials? Non-standard marketing please! We do not take out ads or do TV commercials.

Bonus: Present your submission as a presentation (Powerpoint, Slideshare, Prezi, or similar) or with a video (include Dropbox or YouTube link in submission box).

Questions to consider:

- What tools or technologies would increase customer loyalty?

- What kind of welcome experience would make you a loyal customer?

- Would a welcome packet engage Millennials?

- If yes, what materials could we include to help eliminate any doubts or uncertainties customers might have?

- How can we leave a lasting impression with them that leaves them committed to Guardian?

- What kind of behaviors/offerings can an insurance company do to keep you loyal for years and years?

Things to consider:

- As an organization we do not advertise in traditional formats such as television commercials or magazine ads. We focus on investing in the communities we serve and building community around our offerings as a priority over investing in advertising.

- We're looking for outside the box, creative ideas, propose something really new!

- The best ideas will be actionable, specific, and creative.

    Submissions will be graded on the following criteria:
  • Meets Deliverables
  • Creativity
  • Clarity
Reward Tiers
Top 10%
will share $1,000
Next 15%
will share $400
Next 25%
will share $200
Actual individual rewards will be based on the total number of eligible solutions.
$125.00 Square pic 60 img 9775 Ossama El Nadi York University
$125.00 Square pic 60 matthew gaiser calgary bow headshot  1 Matthew Gaiser Queen's University
$125.00 Square pic 60 msa Mark Rodel Esparagoza De La Salle University
$125.00 Square pic 60 img072 2 Francis Daniel Santia Harvard University
$125.00 J Janice Rebello
$125.00 Square pic 60 facetune 30 06 2021 15 14 53 Mitchell Woolley Central Michigan University
$125.00 Square pic 60 linkedin pic Sydney Bugg University of South Carolina
$125.00 Square pic 60 150821 naunheim olin masters students 293 Eric Lee Washington University in St. Louis
$33.30 Square pic 60 profile picture Rosh Adhikari Webster University
$33.30 Square pic 60 600492 10200681258372428 1786805963 n Jessica Thompson Northeastern University
$33.30 Square pic 60 12967955 1149428261774478 1424286797691950226 o Sayantan Ghosh Jadavpur University, India
$33.30 Square pic 60 img 7404 Mohanraj P M P Anna university ,Chennai
$33.30 A Aparna Siva SantaClara University
$33.30 Square pic 60 a36c20f4 3d4a 4449 84d3 cbb05720946a Amelia Torres
$33.30 Square pic 60 njphotoshootjanelle Dr. Janelle Christine Simmons Liberty University
$33.30 Square pic 60 hypnerotomachia poliphili   elefante Dane Aiken University of the Sunshine Coast, Queensland
$33.30 Square pic 60 snapshot 20160313 29 Ansh Tayal National Institute of Technology Trichy
$33.30 Square pic 60 small Jasdeep Singh Indian Institute of Technology - Ropar
$33.30 Square pic 60 img 7778 Josh Lyman University of Oregon
$33.30 K Kiersten Wilde University of Michigan
$10.00 D dericaturinda dericaturinda
$10.00 B Brianna Barbachem University of South Carolina
$10.00 D Dyllan To Florida Atlantic University
$10.00 Square pic 60 11295924 10202862168675557 3637364785557442133 n Lauren Wachenfeld Washington University in St. Louis
$10.00 N Nitin Maurya Indian Institute of Technology - Bombay
$10.00 Square pic 60 img 5351 Sophia Hodson University of Vermont
$10.00 Square pic 60 img 7513 1 316x475 Dan Metzler University of California at San Diego
$10.00 Picture?width=160 Thej Thanay
$10.00 Square pic 60 mahtma with me Sibi Krishna National Institute of Technology Trichy
$10.00 Square pic 60 21 Haley Macwell Contra Costa Community College District
$10.00 Square pic 60 img 20170129 001511 Praveen Venkatesan Anna University, India