Insuring Generation Next: Meeting the Digital Expectations of Younger Insurance Consumers

75% of Millennial and Gen Z Consumers Want In-Person Advice Before Buying Insurance Online

Insuring Generation Next: Meeting the Digital Expectations of Younger Insurance Consumers

Generation Z and millennial consumers have complex needs when it comes to insurance purchasing, saying they prefer to buy online but still expect to obtain in-person advice from an insurance professional due to a lack of confidence in their knowledge. The latest “B2B and Digital Payments Tracker®,” a collaboration with American Express, examines how insurers must walk a fine line between digital agility and cultivating relationships to attract and retain a new generation of policyholders.

Inside the November Tracker

  • PYMNTS Intelligence interviews Ian Drysdale, CEO of insurance industry digital payments network One Inc, on how the industry is accepting the challenge of meeting Gen Z and millennials’ digital demands.
  • As relative newcomers to the insurance market, Generation Z consumers crave information above all else and, lacking deep pockets, specifically want price comparison data.
  • With younger consumers’ digital expectations evolving faster than insurance processes, a notable gap has grown between what insurers offer and what these customers want.

B2B and Digital Payments