Semsee Small Business Snapshot

Next generation business insurance buyers clearly want more from their agents: more service, more options, and more communication. 81% of Millennial/Gen Z small business owners want their agents to shop their coverage before it renews.

Our Small Business Snapshot examines the insurance buying and service preferences among Millennials, Gen Z and Baby Boomer business owners and provides practical information to advance agents' abilities to attract small business owners of all generations.

Survey respondents value their agents and the insurance buying and services experience they provide. Overall, 72% of Baby Boomer and 70% of Millennial/Gen Z business owners rate their agents’ ability to understand their businesses and insurance needs as good or excellent.

There's ample room for agents to play more of an advisor/educator role, especially with younger clients. When it comes to understanding their policies, only 26% of Baby Boomers and 21% of Millennials/Gen Zs give their own policy acumen the highest marks.