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Millennial Research 8.10.16

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OVERVIEW

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PurposeLookathowmillennialshavebeenportrayedinrecentmediacoveragetodetermineifthisaudienceisarelevanttopicforAflactoplaceastrategicfocusonin2017.

Agenda•  Inthemedia:

•  Millennialsintheworkplace•  Millennialsandsmallbusinesses•  Millennialsandinsurance

•  Companiesengagingwithsmallbusinessandmillennials•  Recommendedtopicsfor2017content

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MILLENNIALS IN THE WORKPLACE

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TheconversaGonaroundmillennialsintheworkplacebegantogaintracGonin2013andhasconGnuedwellinto2016.CompanieslikeIBM,DeloiMeandForbesjoinedtheconversaGononmillennialsearlyontoestablishthemselvesasexpertsonthistopic.

EventhoughtheconversaGonaroundmillennialsissGllhighlypublicizedin2016,thecoreconversaGonsGllfocusesonhowtointegratemillennialsintotheworkforce.Themajorityofmediacoveragefocusesonhowtoengagemillennialsintheworkplace,whattheyarelookingforinfutureemployersandhowtheyarechangingtheworkforce.

MILLENNIALS IN THE WORKPLACE

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Whenmillennialsintheworkplacefirstbecamearelevanttopic,businessownerswerebeginningtorealizetheyneededtochangetheirmanagementstylestoreachmillennialemployees.Thisnewenvironmentcausedalargerhypearoundthecontent,andresultedinarGclesaboutmillennialsintheworkplacereceivingmoreengagementin2014thanin2016.

•  WhatMillennialsWantInTheWorkplace(AndWhyYouShouldGiveItToThem)(2014)received97,690views:

•  Shi\inThinking:HowtoChangeYourCulturetoRecruitandEngageMillennials(2016)received

127shares:

MILLENNIALS IN THE WORKPLACE

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MILLENNIALS AND SMALL BUSINESS

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Millennialsandsmallbusinesswasahottopicin2014,butcoveragehasbeguntodecrease.In2014,themediafocusedonhowmillennialswerechangingtheworkforceandhowcompaniescouldpleasenewmillennialemployees.In2016,thelargerconversaGonhasshi\edtohowmillennialsareredefiningwhatitmeanstobeanentrepreneur.Currently,themediaissplitonwhethermillennialsaremorefocusedonbuildingtheirownbusinessordiminishingtheirdebtbyjoiningcorporateAmerica.

MILLENNIALS AND SMALL BUSINESS

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TheconversaGonaroundmillennialshasgoMenrepeGGve.MajorityofthecontentconGnuestotalkabouthowmillennialsarechangingthesmallbusinessenvironment,andconsumersdon’tseemtobeasinterestedanymore.

•  A2014AmericanExpressOpenarGclereceived568sharesand3comments:•  A2016AmericanExpressOpenarGclereceived45sharesandnocomments:

MILLENNIALS AND SMALL BUSINESS

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ArGclesthattalkaboutmillennialsandentrepreneurshiparechangingtheconversaGonandreceivingmoreengagementthaninthepast.

•  GenYGradsMoreLikelytoLaunchStart-Ups(2012)received16Facebooksharesand7comments:

•  TheMythofMillennialEntrepreneur(2016)received4.0kFacebooksharesand185comments:

MILLENNIALS AND SMALL BUSINESS

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MILLENNIALS AND INSURANCE

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MILLENNIALS AND INSURANCE: AN OVERVIEW

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Theinfluenceoftechnologyontheinsuranceindustryhasledtoanumberofnewtrendswithintheindustry.Just-in-Gmeinsurance,alsoknownasunbundling,isatrendthatarechangingthewaypeoplelookatinsurance.Severalcompaniesareallowingconsumerstocreateapersonalizedinsurancepackagetomeettheirindividualneeds.MillennialsaresGllskepGcaloftheinsuranceindustry,butareopentotryingnewmethodsofinsurancethataccommodatetotheirlifestyle.•  AccordingtoUSAToday,71percentwouldbeinterestedinusinganapptomanagehealthcare.

•  AccordingtoIBM,millennialsaretwiceaslikelytobuyinsuranceonlinethanwithanagency.

•  AccordingtoCEB,32percentofsmallbusinessownerschoosetogettheirinsuranceresearchdirectlyfromacompany’swebsite.

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MILLENNIALS AND INSURANCE: TECHNOLOGY’S ROLE

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MobileinsuranceismeeGngmillennials’desireforinstantgraGficaGon•  Trov(atright)isaninsuranceappthatprovidescoverage

onthespot.•Customerscantakeapictureofwhattheywanttoprotectandchoosethepricethatworksforthem.

•  Sureisamobileinsurancecompanythatprovideson-demandinsurance•EnrollrightbeforeyougetontheplanewithcoveragestarGngat$5.

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Cost-effecGveinsuranceopGonsarechangingmillennials’ideasoftheindustry.•  Millennialswantusage-basedinsurancethatwill

minimizethecostofanoverallinsurancepackage.

•  Metromileiscarinsurancewhereyoupayasyoudrive.•  $30amonth—3.2centspermile

•  Allstate’sriskunitpolicy•  Motoristsbuyriskunitsandconsumethese“units”as

theydrive.

MILLENNIALS AND INSURANCE: COST EFFICIENCY

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COMPANIES TO WATCH

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AMERICAN EXPRESS

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TheAmericanExpressOpenForumlaunchedin2011togivebusinessownersinformaGonandtoolstogrowtheirbusiness.OpenForumisconsistentlyamongthetoparGclesinaGooglesearchaboutmillennialsandsmallbusinesses.Thesitecontainsover100arGclesaboutmillennialsandthemajorityofthesemillennialarGclesarefrom2014and2015.WhileOpenForumdoesn’thaveaspecificsecGonhousingcontentrelatedtomillennials,thecontenthasbeenintegratedintoavarietyoftopicsacrossthesite.Topicsinclude:•  Howmillennialsarereshapingsmallbusiness•  3waystomarketmillennials•  Howmillennialsaresavingbrick-and-mortarretail

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WELLS FARGO

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WellsFargoreleasedareportGtledMillennialSmallBusinessOwnersinJune2016.Thepurposeofthereportwastogainanin-depthunderstandingofthemillennialsmallbusinessowner.Therewasalandingpagecreatedforthereportwheretheyplacedvideoandpresscontentalongwiththereport.Thestudyfound:

•  80percenthopetogrowtheirbusinesstopassdowntofuturegeneraGons.•  67percentarewillingtotakefinancialrisktogrowasmallbusiness.•  77expecttoinvestintheirbusinessintheupcomingyear.

ThereportreceivedminimalcoverageonForbes,YahooFinanceandavarietyofregionalpublicaGons.

•  Therewasaninfographicthatwassentoutwithallthepressmaterials.

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OTHER COMPETITORS

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SageBusiness•  Apayrollso\warecompanythatreleasedaninternaGonalstudyaboutmillennialbusiness

ownerscalledWalkWithMein2016.•  Thestudyfoundthat63percentofmillennialswanttostartasmallbusinessintheirlifeGme.•  Yahoocoveragehadareachof24Mpeople.

DeloiMe•  HasreleasedaMillennialSurveyforthepast5years.•  Allofthesurveyshaverevolvedaroundmillennialsintheworkplace.•  In2016theyfoundthatmillennialshavestrongvaluesthattheywantalignedwiththeir

companiesofemployment.

HuffingtonPost•  Contains104arGclesrelaGngtomillennialsintheworkplacefrom2011to2016.

•  2016:30arGcles,2015:28arGcle,2014:23arGcles,2013:15arGcles

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ColonialLife•  Releasedawhitepaper,asapartofaBenefitsatWorkSeries,in2011Gtled

PumpUpProducGvityfromtheNextGeneraGon.•  ThewhitepaperfocusedontacGcsemployerscanusetohelpengageandretainmillennials.

•  TheColonialLifeblogcontains12arGclesaboutmillennialsintegratedintoavarietyoftopicsacrossthesite.•  AllthearGclesreceivedliMletonoengagement.

MetLife•  InJune2016releasedastudycalledTheAgeofExperience-BasedRetail.

•  Thestudyfocusedonmillennialsspendinghabits,andhowtheirpreferenceforexperiencesovermaterialgoodswilleffecttheretailmarket.

•  InApril2016theyreleasedapressreleasethatfocusedonmillennialsintheworkforce.•  TheinformaGoncamefromastudyGtledU.S.EmployeeBenefitTrendsthatfocusedontheworkforceoverallnotparGcularlymillennials.

•  In2009theyreleasedademographicprofileonmillennials.

OTHER COMPETITORS

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LOOKING FORWARD

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•  MillennialsintheworkplaceissGllahighlypublicizedtopic,butthecoreconversaGonhasn’tchanged.

•  Avarietyofcompaniesarealreadyexpertsonmillennialsaspertainingtosmallbusinessandtheworkplace.

•  Technologyisabigopportunityfortheinsuranceindustryin2016and2017andmillennialsareinterestedinwheretheindustryisgoing.

•  Consumersareinterestedinthemillennialsmallbusinessowner.

IN SUMMARY: LET’S FOCUS

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FUTURE TOPIC RECOMMENDATIONS

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•  Voluntaryinsuranceforallages.

•  Howthesmallbusinessownercanminimizerisk.

•  Trendsinvoluntaryinsurancetohelpsmallbusinesses.

•  Howsmallbusinessownerscanprovideinsuranceformillennials.•  Theinfographic5WaysAflacPoliciesHelpMeettheNeedsofNext-GenConsumers

fromAflacisagoodstarGngpointforthisidea.

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APPENDIX

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MILLENNIALS IN THE WORKPLACE

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MillennialsIntheWorkplace:TheyDon’tNeedTrophiesButTheyWantReinforcement•  2015—64,536views•  ForbesShi\inThinking:HowtoChangeYourCulturetoRecruitandEngageMillennials•  Business.com(2016)•  68sharesWhyMillennialsintheWorkplace‘Don’tCare’and4thingsyoucando•  Entrepreneur—May2015•  2.4kSharesWhatdoMillennialsReallyWantatWork?TheSameThingstheRestofUsDo•  April2016•  15comments• 

StudyRevealsSurprisingFactsAboutMillennialsInTheWorkplace•  Dec2013•  47,057viewsWhatMillennialsWantInTheWorkplace(AndWhyYouShouldStartGivingItToThem)•  Jan2014•  97,690views8ThingsYouNeedToKnowAboutMillennialsAtWork•  Nov182014•  27,126sharesTheDeloiMeMillennialSurvey2016Myths,ExaggeraGonsandUncomfortableTruths•  AstudyaboutmillennialsbyIBM

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WhyMillennialsCouldBetheMostEntrepreneurialGeneraGonEver•  ByAmericanExpress(2014)•  555Shares/3commentsHowMilennialsarereshapingsmallbusinesses•  AmericanExpress(2016)•  42Shares/nocommentsWhyAreMillennialsSoHardToManage?TheModernWorkplaceMightBeToBlame•  Forbes(2016)•  202,293views•  26Comments

MILLENNIALS AND SMALL BUSINESS

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TheMythoftheMillennialEntrepreneur•  TheAtlanGc(2016)•  2.5kFacebookShares•  185commentsMillennipreneurs'AreStarGngMoreBusinesses,TargeGngHigherProfit•  Forbes(2016)GenYgradsmorelikelytolaunchstart-ups•  USAToday(2012)•  16FacebookrecommendaGonsand25

GooglePlusshares•  7CommentsInUncertainBusinessEnvironment,MillennialsWantMoreRiskFoxBusinessNews

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Millennials:TheInsuranceCustomerHasChanged,WillYou?•  IBMBlog(2016)Here’showmillennialscouldchangehealthcare•  USAToday(2016)•  Facebookshares466BuyingInsuranceWithASwipeOnASmartphone•  InsuranceNewsNet(2016)•  Reach:70kEmployeeBenefitsin2016:PerksorExpectaGons?•  July13,2016•  1commentMillennialsDriveDigitalShi\InSmallBusinessInsurance•  Jun2016•  1,765views

MILLENNIALS AND INSURANCE

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