gen z - Gen Z And The Insurance Industry- What Have They To Offer?

Individuals who are born after the year 1995 to the present year are referred to as Gen Z. they are the offspring of the Zen Xers, they are culturally diverse, eager to perform, savvy, controlled and create ve. They want to create a difference coming up with alternative solutions. What more they are highly evolved than their predecessors are, here are a few detailed characteristics:

  • They are one of the strong influencers with regard to purchase of items and goods as well as household purchases, including where to head for the family vacation and which car to buy.
  • They have a set amount of disposal income at hand and receive an average weekly allowance of 20$ which they spend mostly on food and beverages. They also make online purchases especially for apparels and games.
  • Most of them are foodies and prefer home cooked meals and dinners over processed microwave meals. On the downside, they are less active than the other generations with teen obesity on the rise.
  • They are excessively close to their families; in fact, most of them live in multigenerational households unlike their earlier generations, some of who ventured out for setting up individual living standards. The gen Z stays with their millennial siblings and grandparents adding themselves as part of the extended family under one roof.
  • They like to be expressive and often communicate with emoticons, emojis and gifs or memes instead of words and speak quickly.

These mentioned above are some of the personal characteristic traits or behavioral patterns of the Gen Z. They are next generation for businesses to tap into so knowing them up close can give a clear idea of what interests the and help them know better to connect over business prospects in the insurance industry.

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