According to the Pew Research Center, millennials make up the largest share of the U.S. workforce, with only 4% being interested in working in the insurance industry.

Michael A. Costonis and Rob Salkowitz in a recent New York Times article said, “The insurance industry is not particularly attractive to the so-called ‘millennials’ — people who turned 21 in 2000 or later.”

The problem

According to the U.S. Bureau of Labor Statistics, over 400,000 people are expected to retire from the insurance industry by 2025.

And, according to the U.S. Department of Labor, 2.6 million people work in the insurance industry, meaning that by 2025 the insurance industry will lose about 15% of its employees.

Industry leaders are worried that when the majority of the insurance industry retires, there will be no one to take their place.

The solution

Enter Jetty – the new company aiming to offer a brand that will more deeply resonate with millennials and, in the process, give the insurance industry a makeover.

Jetty was officially launched on April 4, 2017, by co-founders (and millennials) Luke Cohler and Mike Rudoy, who felt that traditional insurance companies used too much jargon, had dysfunctional websites and offered outdated policies

“Everything about insurance felt trapped in another era,” says the text on the Jetty website.

So, they decided to step up and make a change.

What sets Jetty apart from other insurance companies is the easy-to-use website, increased claims coverage and overall more modern feel.

Cohler and Rudoy refer to brands like Casper, Raden and Glossier that have done it right when it comes to millennials.

Going forward

Millennials want three things in a career: schedule flexibility, benefits and leadership opportunities.

There’s been a rising of more insurance companies marketing to younger consumers – both as customers and employees.

One way more companies are attracting millennials is by offering pet insurance as an incentive.

Other incentives include maternity and paternity leave, gym memberships and child care.

Companies are also getting more involved at universities and job fairs, and creating more colorful and interactive marketing campaigns.

Lemonade, another new insurance company, attracts young employees by offering a fun, relaxed work space and more remote positions.

One company even started a social media campaign called Insurance Careers Month (ICM).

Insurance Careers Month is a month-long campaign to raise awareness about opportunities for working in the insurance industry for millennials.

Perhaps a makeover would do the insurance industry some good — and attract more millennials in the process.


About Brown & Joseph

Brown & Joseph’s commitment to the insurance industry spans more than 21 years of service. Our processes, security controls and results have been endorsed by five of the top ten carriers and we are rated annually as their number one service provider. We are an Associate Member of the National Association of Mutual Insurance Companies (NAMIC), proud sponsor of the Insurance Collection Executives (ICE) and founder of the ICE Education Fund.

We are an approved vendor by the National Workers Compensation Reinsurance Association (NWCRA) through the National Council on Compensation Insurance (NCCI).

Additional credentials include:

  • SSAE 18 Type II SOC 1 Certified
  • PCI Compliant
  • A.M. Best Recommended ‘Expert Services Provider’
  • 100% compliant with ALL state licensing requirements
  • Certified premium audit service provider through CPAudits, a Brown & Joseph company

For more information on how Brown & Joseph’s services can benefit insurance companies, contact:

Dennis Falletti
Executive Vice President of Insurance Services
(847) 621-6121
DFalletti@brownandjoseph.com