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
- Aviva grows mid-market appetite
- MRIB buys Independents
- Ex-Enterprise non-exec chairman Nick Cruz sues Gibraltar regulator for libel
- Unauthorised broker targets customers on Instagram
- Biba warns of 'uncharted waters' as Theresa May's Brexit deal is rejected
- Saffron buys Farmer Insurance Brokers
- NMU in specialist line-led restructure