The latest report from SCOR’s Digital Solutions subsidiary, ReMark, found that Gen Z and Millennial consumers are more likely to choose life and health insurance products based on positive online reviews rather than on pricing.
The A Decade in Review: Paving the Future of Insurance - ReMark Global Consumer Study 2023-24 report found that more than one third (34.7%) of the combined age groups said good online reviews were the most important factor when buying life and health (L&H) insurance, while 31.3% opted for price. However, price was a significantly more important factor for millennial respondents, with 33.2% highlighting this element compared to 27.9% of Gen Z respondents. Other factors highlighted by young UK consumers included established brand names (12.2%), a quick purchase process (10.2%), diverse...
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