Category
Tech
Delegated Interfaces
Trend cluster
Category
Customized
Insurance
Insurance platforms offer personalization for enhanced user control.
1.7
Trend score
Trend
What is the Customized Insurance trend?
Customized Insurance: As insurance companies and platforms seek to become more accessible, especially to younger consumers who may be intimidated by the process, they introduce customized programs that speak to individual preferences. The modern millennial consumer ultimately regards personalization as a form of autonomy, and they seek products and services that empower them.
Trend themes
Themes within the Customized Insurance trend
Three behaviours holding the trend together01
Personalized Insurance Programs
Insurance companies and platforms introduce customized programs that offer personalization to individual preferences, especially to younger consumers who seek products and services that empower them.
02
Incentivized Insurance Programs
Insurance companies develop incentive-driven insurance products that are meant to encourage healthier lifestyles using wearable technology, telemedicine, and health incentives.
03
Customized Insurance Apps
Insurance apps are developed to offer personalized services and insurance quotes to consumers with tailored information, at their fingertips by taking advantage of censuses and profile-analytics.
Industry implications
What the Customized Insurance trend means for industry
Where the trend changes the playbookFor
Health Insurance
The Health insurance industry can utilize incentive-driven insurance programs or profiles that encourage healthy living and self-improvement.
For
Property Insurance
The Property insurance industry can customize coverage availability to fit different income brackets of potential clients and offer friendly web platforms to ease accessibility to insurance for freelancers and entrepreneurs.
For
Auto Insurance
Auto insurance companies can offer profile-analyzing discounts for first-time drivers who display safe driving characteristics to ensure lower premiums for responsible driving while still incorporating traditional data to assess driving histories.
Workshop question
How can you offer your consumer a more customized experience?
Trend signals
Trend signals for Customized Insurance
Trend score 1.7 out of 10, from popularity 23%, activity 21%, freshness 8%.
Popularity23%
Activity21%
Freshness8%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Customized Insurance trend
6 featured examples from Mar 2 to Nov 2, 2016CategoryTech
Employee Wellness Apps
The LEAGUE App Lets People Pick Insurance Benefits They Will Actually Use
Traditional health insurance companies may face disruption as LEAGUE offers more flexible and personalized insurance options for employees.
CategoryLifestyle
Incentivized Insurance Wearables
UnitedHealthcare Motion Encourages Action and Healthy Living
Health insurance providers can incorporate incentivized wearable technology to encourage healthier lifestyles among customers.
CategoryAutos
Profile-Analyzing Car Insurance
Admiral's 'Firstcarquote' Analyzes New Drivers' Facebooks
Admiral's Firstcarquote indicates a shift in the car insurance industry towards more personalized risk evaluation using data beyond driving history.
CategoryLifestyle
Intuitive Insurance Platforms
'Quotacy' Simplifies the Process of Getting a Life Insurance Quote
Disruptive innovation opportunities in the insurance sector by adopting personalized quote generation and user-friendly assessment tools.
CategoryTech
Customized Insurance Apps
The 'QuotePad' App Lets Users to Get a Personal Health Insurance Quote
Developing customized insurance apps and digitizing insurance processes can revolutionize the insurance technology industry.
CategoryBusiness
Accessible Insurance Services
EasyInsure Customizes Coverage to Fit Diverse Income Brackets
EasyInsure's approach to providing accessible coverage for users in all income brackets sets a precedent for more disruptive insurance providers that cater to specific demographic…
