365Telugu.com online news,Hyderabad, 25th September 2024: Turtlemint, a leading insurtech company, has shared significant insights into the demographics of its vast network of over 3.5 lakh certified insurance advisors, shedding light on the growing role of younger generations in the insurance industry. The company revealed that Gen Z (born after 1997) and Millennials (born after 1981) now account for around 85% of total sales, underscoring their influence in reshaping the insurance advisory sector. In the past year, Turtlemint has facilitated over ₹2,000 crore in premiums, driven largely by these tech-savvy advisors.
According to the data, this younger demographic of advisors not only dominates in numbers but also leverages technology extensively to expand insurance reach. Of Turtlemint’s Gen Z advisors, 78% conduct most of their business online, while 74% of Millennial advisors also adopt digital-first approaches. This tech-centric focus is playing a key role in making insurance more accessible, particularly in remote and underserved regions.
In Telangana alone, 75.9% of Turtlemint’s certified advisors are from Gen Z and Millennial generations, highlighting the strong presence of younger professionals taking charge in insurance advisory.
The rise of insurtech platforms like Turtlemint has been instrumental in attracting these new-age advisors. Advanced digital tools and user-friendly platforms are creating new opportunities for aspiring professionals to enter the insurance space, making it more dynamic and appealing than ever before. By engaging younger talent early, the industry is benefiting from long-term growth and sustainability.
Commenting on the trend, Dhirendra Mahyavanshi, Co-Founder & CEO of Turtlemint, stated, “We are witnessing a remarkable surge in sales driven by Gen Z and Millennials. This data highlights the importance of digital transformation in the insurance industry, and we remain committed to providing innovative solutions that cater to the evolving needs of both our partners and customers.”
A New Era for Insurance
The influx of younger, tech-savvy advisors is not only boosting sales but also transforming the perception of the insurance industry. Once seen as a complex and traditional field, insurance is now viewed as an essential and dynamic financial tool. The digital proficiency of Gen Z and Millennials is revolutionizing customer engagement, creating a new, customer-first approach that marks the beginning of a modern era in insurance.
Turtlemint continues to support its diverse distribution network by offering cutting-edge digital tools, training, and resources through its app, TurtlemintPro. As Gen Z and Millennials lead the way in key markets, the platform is positioning itself as an ideal entry point for new talent, offering vast opportunities for growth in the insurance sector.