NEW YORK, May 9, 2019 /PRNewswire/ -- Today Cake & Arrow, a customer experience design and innovation agency that works across the insurance industry, announced the publication of a new report in partnership with Coverager exploring the modern landscape of insurance and offering a deep dive analysis of Millennials.
Drawing upon Coverager's extensive proprietary industry research and a year's worth of quantitative and qualitative research into Millennial values, mindsets, and attitudes about insurance, the report, entitled Millennials & Modern Insurance: Changing the Way Millennials Think About Insurance, takes a critical look at the insurance industry at large, challenges existing stereotypes and assumptions about Millennials, and encourages the insurance industry to adjust the way it thinks about and designs insurance products for Millennials. The report includes:
- A state of the industry review, including a look at dominant trends, where the funding is going, who the key players are, and what the industry is currently doing to respond to Millennials;
- An analysis of convenience and price as the driving forces of innovation in insurance and the economy at large, including where the opportunities and limitations exist for insurers;
- An in-depth look at current Millennial mindsets around insurance and recommendations for how the industry can go beyond price and convenience to shift the paradigm and change the way Millennials think about insurance.
"Millennials already comprise the majority of the U.S. workforce and, as of this year, are set to surpass Baby Boomers as the largest living adult generation," explained Josh Levine, Cake & Arrow Founder and CEO. "And while the industry is significantly behind when it comes to designing, building, and selling products that resonate with this generation, our research found that now, more than ever, Millennials want and need insurance. Assuming the industry is willing to shift its approach and way of thinking, it is uniquely primed to address Millennial needs. We are confident that the research and findings consolidated in this report will help accelerate this shift."
The complete report can be downloaded here: http://go.cakeandarrow.com/millennials-modern-insurance-report
About Cake & Arrow
Cake & Arrow is a customer experience design and innovation company who works with organizations in the insurance industry striving to create authentic and meaningful relationships with their customers.
Coverager is the go-to source on insurance innovation that both creates and curates coverage on the most pressing topics relevant to insurance executives, focusing on areas such as technology, strategy and alternative distribution by offering custom research and analysis with a creative tone for companies that want to learn from the past and understand the present to better bet on the future.
Emily Smith Cardineau
SOURCE Cake & Arrow