0.25 CIP Points
Generation why Engaging young customers
Two-thirds of the world’s population are either millennials or generation Z, according to Bloomberg’s analysis of United Nations data. For the insurance industry, this represents both an opportunity and a challenge. On the plus side, these two demographic groups represent...
26 Aug 2020
6 mins read
Two-thirds of the world’s population are either millennials or generation Z, according to Bloomberg’s analysis of United Nations data.
For the insurance industry, this represents both an opportunity and a challenge.
On the plus side, these two demographic groups represent the greatest potential for growth in the general insurance sector, according to Roy Morgan research from 2018.
However, millennials are the least engaged insurance customers compared with preceding generations, a 2015 Gallup survey found.
It is clear that more needs to be done to respond to the insurance needs of this group and to harness the business opportunities it represents.
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