Yet more predictions on the evolution of insurance in 2016. Nothing profound here but some good consideration around the continuing growth of Millennials. As they increasingly becomes insurance buyers some of the tech-driven changes that have been slow to get traction have a more natural audience in increasingly affluent Millenials.
For decades, the insurance industry has catered to baby boomers, but now that most millennials are well into adulthood, the shift to this very desirable customer base is happening. In 2016, the number of millennials with insurance purchasing power will increase like never before. More carriers have started to recognize this shift and will cater their services to these potential customers.