No business can afford to neglect a third of their potential customers. But insurers and brokers face particular problems targeting the UK’s 16m millennials, born between the early 1980s and the mid-1990s.
Generation Y, as it’s also known, is much less likely to be in the market for certain types of insurance, and when millennials are looking for cover, they have very different requirements and expectations to the generations before them.
Insurers and brokers sticking to a traditional approach
- Lamp’s proposed liquidation sparks debate on insurer stability and ratings
- Ardonagh closes 24 Swinton branches
- Mactavish names all British Steel insurers
- Gibraltar insurer, Lamp, goes into liquidation amid insolvency
- Martyn Holman joins Banks-owned Eldon Insurance board
- Brokers warned over admin fees and commission
- Ardonagh losses decrease for Q1