Every Fall, Beloit College in Wisconsin puts out its mindset list. It's a list they started 11 years ago to remind professors and staff of the kind of world the incoming freshmen class has lived in. Here are some of the highlights of this year's list:
- GPS satellite navigation systems have always been available
- Electronic filing of income taxes has always been an option
- WWW has never stood for "World Wide Wrestling"
- IBM has never made typewriters
This is the face of the newly minted adult of today. And while they may be just 18 now, they are a big, influential demographic. JD Power states that this age group is "a moving target," because they are beginning the phase of their lives where change is inevitable - leaving home, buying their first cars, first apartments, first jobs, first homes. And as they move through the coming phases of their adult lives, their needs for insurance will change and mature.
IBM's Insurance 2020 report talks about how to reach this new market, and the importance of technology in selling, servicing, and retaining this up and coming group of consumers. It's a great read, and you can download it here.