The Challenge of the Millennial Customer 

In 2017 ‘the millennials’ officially became the biggest presence in our workforce, a sign that this entire generation of technology savvy consumers have grown up. It should come as no surprise then that millennials are also the most under insured generation; the sector is slow to adapt to their habits as consumers.

To stay competitive and avoid obsolescence, insurers must look forward and invest in creating a millennial friendly customer experience, in other words – a digital one. The ‘why’ has been answered, it’s time to ask ‘how?’


Your customers are now using digital devices to access their bank accounts, they are using digital to buy their groceries, and they are using digital to boil their kettles!  Younger consumers have become used to ease of access digital experiences that deliver a smooth and bespoke customer journey.

For example, personal shopping company “” opens with a clean sign up followed by a survey. What is your body type? What are your preferred styles? Favourite Brands? Your age? From the get go this company focuses on their customer, gleaning important information in less than 5 minutes that will serve to personalise their experience.

There is nothing to stop insurers from doing the same. “how old are you? What type of insurance do you need? What is your budget range?” etc. A dedicated app would deepen this level of customer experience further, putting insurance and peace of mind into the pocket of your customer, only one tap away.


Millennials aren’t just in need of a different way to buy insurance; their experience also depends on policies that work around contemporary lifestyles. Traditional models of insurance for cars, lives, homes and more are largely incompatible with the way that millennials live their lives.

Car sharing, fitness tracking and a preference for renting homes are all hallmarks of the ‘millennial lifestyle’ that traditional insurance policies don’t always consider. There are many more, and insurers need to make sure that they can offer flexible or bespoke offers to accommodate these nuances. Young people don’t want to bend your contracts around their lifestyle, they want something that fits.

The use of telematics in car insurance is a prime example, this technology has been around for a while now and is set to be available in 90% of new cars by 2020. These devices are most likely to be accepted by millennials and allow for adaptive insurance or ‘usage based’ insurance that saves customers money if they are driving safely. This is highly personalised and predominantly fair because it relies on the customer’s behaviour.


In-car telematics were one of the first waves of Internet-of-Things (IoT) devices to affect insurance, but this technology is growing incredibly fast, and there are myriad opportunities to put this into the context of insurance. Devices that monitor health and activity are already popular with millennials, could insurance become tied to these?

In fact, RPA and IoT make fantastic bedfellows. Picture an IoT device recording real fitness data whilst an RPA system receives this and edits a policy accordingly. The RPA system then generates a report that could be sent to the insurer via email, reducing 90% of their workload to a simple double check. For the young customer this means a smooth, adaptive and cost-effective customer experience.

The bottom line

Millennials are needy, if you want their attention you need to work for it. Considering these new needs will require more time and more resources that you probably don’t have.

This is where Robotic Process Automation can help. To find out more about RPA, read part two – coming tomorrow!



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