In a survey conducted across 48 states, Millennial and Gen Z insurance buyers almost universally (96%) claimed to have researched potential options online, which isn’t particularly revelatory.
What’s maybe more interesting, however, is that 3 out of 4 respondents in the Millennial through Gen Z age range still want to work with an insurance broker in order to make the purchase despite having done their own research.
The desire to work with an insurance broker for the sake of obtaining advice and/or information about insurance products is specifically sought out by 45% of Millennial and Gen Z respondents, which can probably be explained in large part by the fact that more that 56% of the members of these generations recognize the holes and limitations in their own understanding and insurance education.