New Report: Younger Consumers Could Make Buying Insurance From a Financial Institution Cool
Why Consumers Are Looking to Financial Institutions for Insurance
Nearly one-third of consumers say they are more interested in buying insurance from their FI than they were three years ago. PYMNTS Intelligence’s latest 33-page study, “Why Consumers Are Looking to Financial Institutions for Insurance,” a collaboration with Franklin Madison, features nine charts that explore how Gen Z and millennial insurance buyers are rejecting the status quo of more traditional sources for insurance.
Inside the June Study
- 29%: Share of consumers who say they are more interested in purchasing insurance through an FI than they were three years ago
- 43%: Share of high-income consumers who want FIs to provide for their insurance and financial needs
- 36%: Share of disinterested consumers who identify a lack of familiarity with their FI’s insurance offering as the most important reason
