Marketing Strategy for Life Insurance Companies in Reaching the Millennial Generation
Main Article Content
Sri Lestari
The current Covid-19 pandemic is a catalyst for social, economic, business and even consumer behavior change. These changes have forced the life insurance industry into a corner with the necessity to make changes on a large scale that may not have been imagined before. Millennials will be the target of all insurance companies, not only digital-based insurance companies, but other insurance companies that have just become aware of the swift technological disruption. In this case, insurance companies face the challenge of educating the millennial generation to become insurance buyers. This study uses the method of literature study. The results of this research are in the form of insurance marketing strategies for millennials including: 1) Explorative business and technology roadmap; 2) Expand digital scale to engage with the millennial generation; 3) Adopt a new method of distribution management; 4) Focus on consumer data governance and management.
AAJI. (2019, December 17). AAJI Daily News - 17 December 2019. Retrieved from aaji.or.id: https://https://aaji.or.id/Berita/aaji-daily-news---17-december-2019/Berita/aaji-daily-news ---17- December-2019
Anwar, K. (2007). Halal & Maslahat Sharia Insurance. Solo: Three Series.
Handayani, S. (2016). Swot Analysis of Ajb Bumi Putera Life Insurance Marketing Strategy 1912.Ekombis Review: Scientific Journal of Economics and Business, 4 (1) 97-107.
Irfan, R. J., Ashal, F. F., & Aulia, R. (2020). Analysis of Factors Influencing Millennial Generation Decisions on Interest in Buying Sharia Life Insurance Products.JIHBIZ: Global Journal of Islamic Banking and Finance, 2 (1) pp.34-56.
Jatmiko, L.D. (2018). Causes of Lazy Millennials with Insurance. Retrieved from finansial.bisnis.com:http://finansial.bisnis.com/read/20180929/215/843645/penyebab-kaum-milenial-malas-berasuransi
Kotler, P. (1997). Marketing Management, Planning Analysis, Implementation, and Control. Jakarta: PT. Pregnant.
Nanda, A. (2021, August 16). Hoisting the Future of Digitizing the Life Insurance Industry. Retrieved from mediaasuransinews.co.id: https://mediaasuransinews.co.id/opini/ mengrek-masa-depan-digitalisasi-industri-asuransi-jiwa/
Permata, A., Martinus, R., Elias, S., & Ivan, A. (2017). Factors Influencing Bank Selection in Millennial Generation in Jabodetabek.Journal of the MM Program School of Business and Economics, Prasetiya Mulya University, 1 (1).
Purwandi, L. (2016). Indonesia 2020 The Urban Middle Class Millenials. Retrieved from researchgate.net: https://www.researchgate.net/publication/314448735_Indonesia_20== 20_The_Urban_Middle_Class_Millenials
Rossiana, G., & Banjarnahor, D. (2018, January 15). Insurance Industry, Millennials, and Ghosts. Retrieved from CNBC Indonesia: https://www.cnbcindonesia.com/profile/ 20180115151733-41-1519/industri-asuransi-milenial-dan-hantu.
Setiawan, k. P., Manggabarani, A. S., & Ilyas, J. B. (2018). Marketing Strategy Analysis of Sharia-Based Life Insurance Products in the Insurance Service Industry in Makassar City (Case Study at PT. Prudential Life Assurance Area Makassar). YUME: Journal of Management, 1 (3) 1-16.
Suhendra, Z. (2018). How to Get Sharia Insurance to Attract Millennial Customers. Retrieved from https://finance.detik.com/moneter/d-4143347/cara-asuransi-syariah-gaet-nasabah-milenial
Tjiptono, F. (1997). Marketing strategy. Yogyakarta: Andi Yogyakarta.
Yulianto, D. (2018). Insurance Strategy in Growing Public Interest in Al Amin Sharia Life Insurance, Lampung Branch. Thesis, RADEN INTAN LAMPUNG STATE ISLAMIC UNIVERSITY (UIN).
