New White Paper Explores Insurance and Millennials

Learn how the latest research challenges assumptions about insurance and Millennials

New York, NY (Aug. 6, 2018) – Cake & Arrow is pleased to announce the publication of its latest white paper, Insurance & Millennials: A Coming of Age, based upon the results of a survey of more than 300 Millennials exploring the mindsets, values, and behaviors of Millennials – using Pew Research’s definition of those born between the years 1981 and 1996.

By 2019, Millennials will number more than 73 million and will eclipse Baby Boomers as America’s largest living generation. As a generation, Millennials differ from previous generations in a number of significant ways: they spend differently, they buy differently, their lives follow different trajectories and they hold unique perspectives on everything from family to how they think about and plan for the future. And what’s more, as the most diverse generation in American history, behaviors, mindsets, and values amongst their cohort vary widely.

As Millennials come of age, how will the insurance industry need to adjust? This newly published white paper grapples with this question, providing insights for insurance carriers and the insurance industry into:

  • The mindsets, behaviors, and values held by Millennials that distinguish them from previous generations;
  • Different Millennial personas, and how their needs, behaviors and risks vary;
  • How the insurance industry as a whole might think differently about insurance to better address the unique needs and risks of Millennials.

“For too long, Millennials have been treated as a niche within the insurance industry and the products that are designed for them are often based on misguided assumptions about Millennials rather than actual data,” said Josh Levine, Cake & Arrow Founder & CEO. “Our research challenges many of the stereotypes and labels given to Millennials, providing the insurance industry with a jumping off point as they seek to better understand Millennials and design insurance products that resonate.”

Millennials already became the largest generation in the U.S. Labor Force in 2016, and will soon eclipse Baby Boomers as comprising the majority of the U.S electorate. In other words, Millennials are about to rule the world. Is the insurance industry ready?

Download Now

Download a complimentary copy of the white paper: Insurance & Millennials: A Coming of Age.

About Cake & Arrow

Cake & Arrow is a customer-experience design agency who partners with insurance companies. We’re leading global digital initiatives with MetLife, ProSight, among others, for launches that span life, group benefits, P&C, and specialty. We use customer data to achieve results, focusing on increasing policy renewals, driving profitable growth, and creating digital experiences to get carriers closer to customers and allow for more self-service.

SOURCE: Cake & Arrow

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