Health and life insurance providers are much more likely to market to Baby Boomers than to younger consumers who fall into Generation X and Generation Y age groups, according to research from Mintel Comperemedia.
In the 12 months ending June 2009, a study found that Gen Xers (those born in the mid 1960s to the early 1980s) received 15% fewer health insurance marketing direct mail pieces than Boomers. Gen Y (those born in the mid 1980s to late 1990s) saw even fewer offers: 25% less than their parents’ generation.
For life insurance, the younger generations are equally ignored: Gen X and Gen Y got 18% and 23% fewer mailings, respectively, than Baby Boomers in the past year, Mintel said.
Despite this lack of attention from insurers, consumer data from Mintel shows Generation X is very interested in health and life insurance. Gen Xers are less likely than average to say they own non-employer based life or health insurance, but they’re more likely to say they’ll purchase these products in the near future (17% more likely for health insurance, 23% for life insurance).
Monday, 3 August 2009
Insurance Marketers Ignore Gen X, Gen Y
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