As someone in the insurance industry, have you noticed that Millennials are now a significant portion of the policyholders? And they are only going to keep growing! However, the insurance industry has been slow to change and embrace innovation, missing significant opportunities.
Here's why insurtechs are the key to unlocking the full potential of the millennial market:
💡 Millennials expect a seamless, personalized experience. They grew up with technology and want their insurance experience to reflect that.
💡 Millennials prioritize technology in their daily lives. A study found that 86% of Millennials check their phones at least once an hour. So, it's no surprise that they want their insurance to be accessible from their phone too.
💡 Millennials value transparency and control. They want to understand their insurance options, pricing, and coverage. They also want to have control over their policies, which can include making changes or even filing claims from their phones.
Insurtechs are at the forefront of innovation and have the expertise to help carriers better understand and reach the millennial market. By partnering with insurtechs, carriers can enhance their products and services to meet the needs and expectations of this growing demographic.
Don't miss out on the opportunity to innovate and connect with the next generation of policyholders. Talk to us if you want to see how we can help you.