Targeting Millennials with Insurance Market Research and Forecast Report 2017

Market Research Hub (MRH) has recently announced the addition of a fresh report, titled “Targeting Millennials with Insurance” to its report offerings. The report 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.

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"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.

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.

Table of Contents:
Millennial Characteristics
Car Insurance
Home Insurance
Travel Insurance
Pet Insurance

Read Full Report with TOC: http://www.marketresearchhub.com/report/targeting-millennials-with-insurance-report.html

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This release was published on openPR.