Generational Shifts in Insurance Buying Trends

Personal Lines

Generational Shifts in Insurance Buying Trends

The insurance landscape is evolving rapidly, largely driven by generational shifts in buying trends. As Gen Z and Millennials come of age, their preferences and behaviors are reshaping the insurance industry. This article explores the key differences between these younger generations and their older counterparts regarding insurance purchasing habits, emphasizing the role of relationships and digital preferences. 

Digital Dominance

The digital revolution has transformed the insurance industry, and younger generations are at the forefront of this shift. Gen Z and Millennials grew up in the digital age and often prioritize convenience over building in-person relationships. While they still value the advice of a knowledgeable agent, they are more likely to seek information online, conduct research independently and prefer digital communication channels. These generations are comfortable with online quotes, digital policy management or even purchasing insurance entirely through digital platforms. 

However, older generations, such as Baby Boomers and Generation X, tend to have a more traditional approach, relying heavily on in-person interactions with insurance agents. Face-to-face meetings and a trusted agent’s guidance were instrumental in their decision-making process. They may prefer phone calls or in-person meetings for insurance matters. This divide underscores the importance of offering a seamless online experience while maintaining channels for those who value in-person interactions. 

Speed and Transparency

Gen Z and Millennials expect speed and transparency in their insurance transactions. They desire quick responses, easy-to-understand policy terms and transparent pricing structures. Online tools and mobile apps that provide instant quotes and policy comparisons are particularly appealing to them. 

Older generations are typically more willing to invest patience and time in understanding complex insurance policies. However, many still appreciate the benefits of clear, straightforward communication and the convenience of online account access. 

Social Responsibility and Customization

Younger generations place a high premium on social responsibility and environmental concerns. They are more likely to choose insurance providers that demonstrate a commitment to sustainability and corporate responsibility. Additionally, they appreciate insurance products that can be customized to fit their unique needs and lifestyles. 

Older generations may also consider these factors, but their insurance choices are generally less influenced by social and environmental values. Customization is still appealing but may be less of a driving force in their decision-making. 

As Gen Z and Millennials continue to gain prominence in the insurance market, insurers must adapt to meet their evolving preferences. While personal relationships with insurance agents remain vital, digital dominance, speed, transparency, social responsibility and customization are factors insurers should consider. 


Successfully navigating these generational shifts requires insurance companies to strike a balance between traditional and digital channels, offer transparent and customizable policies and align with values of social responsibility. 

See how Brown & Brown can help serve a diverse range of customers across multiple generations, help you adapt and stay competitive in the evolving insurance landscape. We can customize the customer experience and build an insurance program that helps to meet your individual needs.

Corey Walker

Personal Lines Sales Leader