Deloitte Assesses Gen Y

March 24, 2009 at 08:00 PM
Share & Print

Insurers trying to sell to members of Generation Y should know about 7 key Gen Y traits, consultants say.

The consultants, at Deloitte Consulting L.L.P, New York, have published the list in a new Gen Y market report.

In the eyes of the Deloitte consultants, members of Gen Y are:

- Financial freshmen who have easier access to information about financial products and services than did earlier generations at this stage of life–although they are still novices at implementing what they know.

- Self-directed and resourceful in conducting research on financial services products, but often seeking recommendations and validation of their decisions from family, friends and financial advisors.

- Tech-savvy, but viewing technology as an extension of themselves, compared to baby boomers, who view it more as a tool.

- Practically motivated and naturally concerned with acquiring products and services at an affordable price

- Possessing an entrepreneurial spirit that presents an opportunity for insurers to consider reaching out to them at an early age about group and commercial insurance.

- Diverse on many fronts, just as consumers in general are increasingly varied.

- Socially mindful, with an inclination for being altruistic and environmentally conscious or "green."

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Related Stories

Resource Center