Navigating Global Life and Health Insurance Demand Trends

As younger cohorts increasingly purchase insurance in the post-digital era, understanding the factors behind their life and health insurance decisions becomes crucial for the industry’s strategic positioning. This joint consumer survey by the SOA and SCOR Digital Solutions explores the behavioral factors influencing insurance purchase decisions among Gen Z and Millennials (18-42 years old). Offering a forward-looking analysis, the study utilizes a rich dataset spanning 22 markets across six continents. Utilizing both traditional economic regression and state-of-the-art machine learning models, the research provides a dual analytical perspective on emerging market behaviors and evolving purchasing trends.   Beyond a comprehensive array of traditional demographic factors such as age, sex, insurance knowledge, income, etc., the report examines how these generations are embracing online platforms, wearable devices, and lifestyle factors influencing recent insurance purchase behaviors.