4 Ways to Capture the Millennial Insurance Market ?? D2C Digital Life Insurance in 2022 and more
A new perspective on an old-established industry. Find latest report, news and information about startups and innovations in the insurance industry, with a focus on best #insurtech initiatives and venture capital investments
What do insurers need to know about how digital-savvy millennials operate and what their motivations might be as they consider insurance coverage? According to a study by Liberty Mutual and Safeco, millennials are more worried about future risks than baby boomers and 18 percent fewer millennials consider themselves “insurance-savvy” compared to boomers. The study goes on to report that cost is not the primary reason millennials aren’t buying more insurance. An overwhelming 80 percent of millennials want an agent to help them understand insurance coverage and what to expect in the event of a claim. Most are open to working with an independent agent.
Must-read insurtech stories
PayPal Holdings Inc. formed a partnership with Aon Plc to offer its small-business customers the ability to shop for and manage their insurance policies using the company’s digital-commerce platform. The collaboration will integrate Aon’s CoverWallet small-business insurance product into PayPal’s digital offering, the companies said.
In the U.K., people search for life insurance on Google every 18 seconds but?more than half (~60%) of high-intent customers dropping out of a sale when it came time to select the amount of insurance they wanted.
A Solera survey of senior decision makers from over 500 car insurers, body shops and dealer networks, and 1500 consumers, across the US, Europe and Asia Pacific found over a third of claimants had completed their motor claim without speaking to a person and over half took images of their vehicle and uploaded them onto an insurer’s platform.
Insurtech Reports and Studies
Check out our vision of the great challenges that insurers will face in the coming years. Discover the 10 actions that we propose to respond to the challenges of the insurance industry.
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Florian Graillot @FGraillot Great overview of the 'Embedded Finance' opportunity its impact on UX or in terms of revenues for non-banking players, and what it requires on the technology side.
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Investment and Startup Use Cases
BriteCo is an insurance technology company creating jewelry and watch insurance for consumers with an online application, and have items covered in minutes, via a subscription-like monthly payment option. The jewelry insurance online platform enables customers to receive a custom insurance quote in a few minutes and soon after a cover for theft, loss, damage, and mysterious disappearance.
Founded in 2016, Alan is s the first independent digital health insurance in France since 1986. In April 2021, Alan raised €185 million and became a unicorn at a €1.4 billion valuation. It has now reached a €2.7 billion valuation.
Meet Getlife, a Madrid-based startup that just raised $6.3 million (€6 million) in seed funding. The company wants to make it easier to access life insurance products in Europe. For instance, there’s no medical exams needed to subscribe to Getlife. There are many reasons why you would want to subscribe to a life insurance product. For instance, if you’re worried about the future of your loved ones once you’re gone, life insurance could be a way to make sure they won’t face financial difficulties.
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A Social #Entrepreneur | Man of Excellence #Award Winner 2022 ??| #MSMEs #Consultant | #Insurance & #Reinsurance | #Financial #Portfolio #Management | #Succession Planner | #Insurtech Innovator | Low Code & Visionary..
2 年Keep sharing the reads Alberto, I never miss reading any of your articles to find some great insghts about behavioral coverage ????????
I'm into Innovation, Tech and Sustainability
2 年A special mention for recent #insurtech rounds. Well done to?Alan,?Getlife and?BriteCo teams! ?? https://www.getrevue.co/profile/startupdigest-insurtech/issues/4-ways-to-capture-the-millennial-insurance-market-techstars-insurtech-digest-issue-110-is-out-d2c-digital-life-insurance-in-2022-and-more-1164671
Recruiter-Sales Trainer | Insurance Expert | Build Trusted Agents | Captive Distribution
2 年Great insights Alberto Garuccio . It could be useful also how many of them want to start a career as #agents !
System integration, Event-driven Architecture, Automation, AI Solutions
2 年Interesting as usual, thanks Alberto Garuccio
Vice President, Global Accounts, Warranty & Service at AIG
2 年I always find some great insights from the digest, appreciate you sharing!