Millennials and Gen Z Insurance Buyers Propel Growth Opportunities
The future of insurance, while still evolving, is without doubt picking up steam. While technology often gets much of the focus, it is not the driving force of change. Customers are the driving force, with the digitally-native leading the way and opening the door to incredible growth opportunities. Changes in customer behaviors and expectations, driven and reinforced by new capabilities unleashed by technology, demand the insurance industry reconsider the way things have been done by focusing on what is expected today and in the future.
The latest report Your Insurance Customers: A Crystal Ball of Big Changes in a Small Window of Time highlights the urgency of rapidly adapting to a new reality for all customers, and Millennials and Gen Z in particular. As the dominant buyers for both life and non-life insurance products with a focus on five specific segments: life/health/accident, employee/voluntary benefits, auto, mobility, and homeowners/renter’s insurance.
Read this report to better understand:
- How the insurance buyer sweet spot has shifted to Millennials and Gen Z
- Why that shift demands new business approaches
- Customer work, financial, life, and digital behaviors reshaping expectations
- Expectations of new products, value-added services, payment options and channels
- The demand and use of technologies and data for personalized insurance and experiences
- Emerging insurance trends driving new opportunities