Targeting Millennials with Insurance explores
consumers who have not yet entered the mass market. It identifies how
millennials' needs and preferences differ to the mass market and where
the opportunities lie in targeting them. With reference to each general
insurance product it discusses the opportunity in targeting millennials,
product penetration and the top providers among millennials, and what
product features are important when targeting the demographic.
Millennials have differing needs and preferences when it comes to insurance compared to mass market consumers. This needs to be kept in mind when developing products and services. Ownership of insurable assets among millennials is low due to the economic landscape they have grown up in making it hard to save. They are more likely to rent than own a home, are interested in car sharing, and they prioritize holidays and short-term experiences as opposed to longer-term goals. These factors mean that in some product lines standard insurance packages do not fit their needs. Millennials are also digital natives who prefer to access goods and services online and will favor technologically innovative insurance policies.
Browse Detail Report With TOC @ http://www.hexareports.com/report/targeting-millennials-with-insurance
Scope
Reasons To Buy
Consumer Payments Country Snapshot: Russia 2016 -
http://www.hexareports.com/report/consumer-payments-country-snapshot-russia-2016
Consumer Payments Country Snapshot: Belgium 2016 -
http://www.hexareports.com/report/consumer-payments-country-snapshot-belgium-2016
HNW Offshore Investment: Drivers and Motivations 2017 -
http://www.hexareports.com/report/hnw-offshore-investment-drivers-and-motivations-2017
Millennials have differing needs and preferences when it comes to insurance compared to mass market consumers. This needs to be kept in mind when developing products and services. Ownership of insurable assets among millennials is low due to the economic landscape they have grown up in making it hard to save. They are more likely to rent than own a home, are interested in car sharing, and they prioritize holidays and short-term experiences as opposed to longer-term goals. These factors mean that in some product lines standard insurance packages do not fit their needs. Millennials are also digital natives who prefer to access goods and services online and will favor technologically innovative insurance policies.
Browse Detail Report With TOC @ http://www.hexareports.com/report/targeting-millennials-with-insurance
Scope
- There are 14.7 million millennials in the UK, which amounts to 28.6% of the adult population.
- Millennials are most engaged with car and travel insurance. This is because they are more likely to learn to drive and go on holiday before moving out from home. 75.3% and 61.6% of millennials have car and travel insurance respectively.
- Contents insurance is the most popular home insurance policy type among millennials. This is due to the fact that the majority of millennials live in privately rented accommodation.
Reasons To Buy
- Size the opportunity that exists in the millennial segment.
- Understand the differing values, behaviors, and insurance needs of customers aged 18-34 compared to the mass market.
- Improve customer engagement by recognizing what is most important to millennial customers and how insurers can adapt their products and services to meet their needs.
- Discover the leading providers by product within the millennial market and what they offer.
Consumer Payments Country Snapshot: Russia 2016 -
http://www.hexareports.com/report/consumer-payments-country-snapshot-russia-2016
Consumer Payments Country Snapshot: Belgium 2016 -
http://www.hexareports.com/report/consumer-payments-country-snapshot-belgium-2016
HNW Offshore Investment: Drivers and Motivations 2017 -
http://www.hexareports.com/report/hnw-offshore-investment-drivers-and-motivations-2017
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