Combined, Gen Z (born between 1997 and 2005) and Millennials (born between 1981 and 1996) account for 43% of the US population. As these two groups continue to age into the workforce and begin to inherit generational wealth, their buying power is substantially increasing. This poses a window of opportunity to attract the loyalty of these consumers and count them as customers for years to come. In order to capitalize on this, insurers must be reevaluating their go-to-market strategies and asking themselves how they can best appeal to younger generations.

It’s no secret that for many brands, embedding insurance offerings into an existing customer journey provides a great opportunity for generating new revenue and expanding customer relationships.