Generation Alpha’s insurance claims expectation
Generation Alpha will probably not know a world without VR, smartphones IoT, and they will probably never use a debit card
Generation alpha will represent the future…
and it’s not long until they are the key customer group for insurance companies. Every week approximately 2,800,000 generation alphas are born around the world, and in just a few years (2025) that generation will be the largest in history, as they are expected to be more than 2 billion globally. So, let’s talk about the characteristics and needs of Gen Alpha – because they will be your future customer.
Today’s technology will make generation Alpha the most globally and digitally connected generation ever. The assumptions are that they will be mobile, social, and global – they will work, study, and travel between countries and continents. They are being shaped in an era of individualization and adaptation – something that will most probably affect their future expectations.
The most technologically advanced policyholder ever
Many analysts claim Generation Alpha will be the best educated and the most technologically advanced generation ever. They will have a digital footprint before they start school since they will be a part of the digital world from birth. For previous generations the internet and social media has been a tool, but for Generation Alpha it will be a lifestyle.
Your future customer won’t own a debit card
Generation Alpha will probably not know a world without VR, smartphones IoT, and they will probably never use a debit card either.
This vast future generation will be used to jumping between several platforms. Companies will need to adapt to new ways of being in all these places and evolve omnichannel strategy. Gen Alpha will expect seamless digital customer journeys that are integrated, individualized, and personal.
Since the first Generation Alpha is 11 years old today, time is ticking and it won’t be long until they will be the most important customer group for the insurance industry. If you’re not transforming digitally or if you are not up to speed with making the insurance journey seamless and with instantaneous processes, you have some work in front of you.