Consumers in Gen Y least likely to be loyal to one insurance company for all policies

generation y insurance company Laughing Young Woman Socializing in a Party Setting.

A recent J.D. Power study showed this generation is most inclined to split their coverage across multiple insurers. Generation Y has now become the largest home buyer consumer segment in the country, and it is also the most likely to unbundle (also known as splitting) their coverage needs instead of choosing only one insurance company for all of their policies. They are splitting their insurance policies at a greater rate than any other generational group. For an insurance company, this actually provides quite the opportunity. The J.D. Power 2015 U.S.…

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Millennials are unsatisfied with interaction with homeowners insurance companies

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Insurers are having trouble interacting with Millennials Homeowners insurance companies may be failing to meet consumer expectations when it comes to interaction, according to a new study released by J.D. Power, a global marketing research and information services firm. The study highlights “Gen Y” consumers, typically referred to a Millennials, as having the lowest satisfaction with insurers and their ability to interact with consumers. This demographic typically represents those born in the early 1980s and early 2000s and these people are becoming first-time homeowners and have high expectations of the…

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