30 under 30: Meet the millennials who are transforming the insurance industry
September 8, 2015 by Lynette Gil
Their parents, boomers and some seniors, told millennials they could be anything. Great songs about the children being the future were sung back in the 80s and early 90s. With such high hopes for their future, millennials embarked down a road of immense dreams.
Victoria Peterson
Vice president of operations
Wink, Inc.
Why did you choose a career in insurance or financial services?
I was very fortunate when a career in insurance chose me! I was just beginning my college career, when Sheryl J. Moore (founder of Wink, Inc.) recruited me to come work for her a year after she’d started her business back in 2006. I took a leap of faith and began my insurance career nearly ten years ago (still attending and graduating college with a degree in business administration).
Over the years, I have been lucky enough to work with and learn from some of the greatest experts in this business. If I had to ‘choose’ all over again, I would still choose insurance. It is so rewarding to work in an industry where I’m surrounded by others who choose to live a life and career with a commitment to integrity and education!
Describe what you do.
I run the day-to-day operations at Wink, Inc. This could mean anything from scheduling the fire extinguisher inspections to planning office massages and team outings. Additionally, I manage the Wink staff and oversee the maintenance of LookToWink.com’s AnnuitySpecs and LifeSpecs tools as well as “Wink’s Sales & Market Report.”
I am in charge of the upkeep and enhancements of our tools and customer service for our subscribers. I also foster an intimate knowledge of the fixed and indexed life insurance and annuity industries and utilize this to help support, and preserve, strong relationships with our clients.
Share an achievement you are especially proud of.
An achievement that I’m especially proud of is the success of becoming vice president of operations at Wink, Inc. Running the daily operations at this great company is an honor and I am proud of my staff, the company rebranding, implementation of website enhancements and overall growth that have occurred in the past three years!
What is the biggest challenge that you see in the industry or what is the one thing you would change?
I believe the biggest challenge in the insurance industry is the lack of awareness and education about these great products: life insurance and annuities. There is a plethora of inaccurate information in the media about fixed and indexed insurance products. This would be the No. 1 thing I wish I could change. Bringing awareness and testimony about these products to anyone and everyone would not only be great for our industry but for our country as a whole.
What is the biggest opportunity that you see in the industry?
I believe the biggest opportunity in this industry is for millennials to begin a career in this business. According to McKinsey & Co. the average age of an insurance agent in the US is 59. This opens the door to SO many opportunities for millennials to begin a long and successful career as these agents begin to retire. There are countless agents and industry experts that are willing to be mentors in this business. My hope is that other young people will take this opportunity and change not only their lives, but others lives as well!
What do you think millennials are looking for in an insurance advisor? How can advisors best serve this market?
I think millennials are looking for someone they can relate to in an insurance advisor. Not necessarily someone their age or gender, but someone they have things in common with, that they can trust, converse with, and learn from. Millennials are also looking for someone with a good online presence or someone they’ve been referred to. Vetting online is such a norm now, I think most millennials are looking for someone whose previous interactions can be evaluated. Also, being able to have a relationship with your agent is something that I feel is important. Personally, I wouldn’t want to make large life decision, and place thousands of dollars of my hard-earned money, with someone I don’t trust or relate to.
In my opinion, buying life insurance and annuities should not be a transactional experience; it should be a relationship-building experience. I think this type of insurance agent would not only be the best type of agent for millennials, but also for this industry.
What is the No. 1 piece of advice you would give to a young person looking to enter this industry?
Do it! Take a leap of faith and get into this business. Whether you become an independent agent or home office employee, you are ultimately helping to educate people on the importance of insurance! It can, and will, be so rewarding for you to know that you helped save someone heartache during the death of a loved one, in retirement, while sending children off to college or in the midst of a health crisis. Not enough people know about the importance or necessity of life insurance and annuities and we need YOU to help change the lives of these people!
