Millennials are currently the largest generation in North America. With more than 72 million in force, millennials hold significant buying power, which has prompted companies across industries to break from traditional business processes to modernize practices. This has been especially true in the insurance industry.
"These insurance disruptors understand something fundamental about the millennial generation that has enabled them to separate from the pack: no matter the service or product, Millennials expect technology-driven customer experiences," said online payment solutions provider Invoice Cloud in its report, "Keeping up with Millennial Policyholders."
In January 2021, Invoice Cloud surveyed more than 1,700 millennial policyholders (born between 1981 and 1996) about their existing and future policy needs, payment preferences, and what they expect from an insurance payment experience.
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