How are insurers adapting to Gen Y mindsets? Do people really value things more if they pay with cash? Why are banks still investing in ATMs? And how are financial brands helping Boomers and Seniors future-proof?
Young adults are not engaged with insurance, and that’s not surprising given that only 34% of Gen Y customers have had positive experiences with their insurer. So how can these companies better engage their young clientele? And what do Gen Yers expect when they purchase a policy?
Trōv is aiming to make insurance more appealing to Gen Yers by ditching complicated policies, instead providing simple and flexible protection through an easy-to-use app. But can it win over a generation of consumers who still see coverage as an optional extra rather than a necessity?
We know that seamless payments can affect how we splash out, but could they also impact how we feel about the things we’re buying? Canvas8 sat down with Dr. Avni Shah, co-author of ‘Paper or Plastic?’, to understand how the method by which we pay influences product satisfaction and brand loyalty.
Two out of five internet users have bought a product online. But a lengthy payment process means we often abandon purchases at the checkout. What if you could buy using just an email address and postcode? By separating ‘buying’ from ‘paying’, Klarna promises stress-free online shopping.
How much cash is in your pocket? With the onward march of technology, physical money now seems somewhat redundant. Paying for things with a smartphone or contactless card is simply more convenient nowadays. So with digital transactions becoming the norm, is the ATM doomed?
For all the hype around cashless societies, according to 2015 stats, people in the US still use ATMs and bank branches more than online and mobile. Will Bank of America’s partnership with Apple Pay to allow people to withdraw money via NFC get even more people visiting cash points?
True Link: helping to protect the family inheritance
case study·
8 Mar 2016
As people get older, they become more vulnerable; 37% of American seniors are affected by financial abuse and banks are routinely blamed for mis-selling products to the elderly. How is True Link ensuring that wealth stays in the family and doesn’t fall into the hands of the scammers?
Boomers are redefining what it means to be old. Not content with fading into the background, they’re healthier than past generations and splashing out on leisure. Insurance firm Humana aims to appeal to this mentality, reminding Boomers of all the opportunities prolonged health can bring them.