Our Canada survey identifies an opportunity to deepen engagement and build longer-term relationships with young adults between 18 and 34 years old – a vital customer segment for insurance companies’ future growth and success. 92% of young adults are prepared to share additional personal data with an insurer, and this demographic are more inclined to share that personal data specifically to receive more tailored services compared to middle-aged and older adults.
“It all starts with the customer. As an insurer, do you understand the needs of your current and future policyholders? Do you have the data to help you clearly understand those needs, and to develop the products to meet them – and then be able to provide exceptional customer service to acquire, service and retain these customers? In a world of constantly evolving customer expectations and needs, shifting market dynamics and rapid technological advancements, it is more important than ever for insurers to become more agile and to be able to address short-term imperatives while in parallel continuing to implement a longer-term digital transformation roadmap.”
Julien Truchot and Roman Ryzer, Canadian Insurance Co-Leads
METHODOLOGY
Interviews were conducted in Belgium, Brazil, Canada, Greater Bay Area (ex Hong Kong), Germany, Hong Kong, Italy, Malaysia, Poland, Singapore, Switzerland, Thailand, USA and the UK during February and March 2023. Respondents were aged between 18 and 65 years. This was a quantitative study conducted using diverse sampling methodology (social & ad networks). Country representative quotas (location, age and gender) were applied.
