MILLENIALS FAVOUR ONLINE EXPERIENCES
Millennials graduated into tougher economic times than previous generations and it is common knowledge that they favour experiences over worldly goods. Experiences that are social media worthy; they are only enticed to look up from their smartphones if the conversation is tweet-worthy or their lunch ‘Instagramable.’ It is thus surprising how quickly a generation that only takes “yes” for an answer, says “no” to insurance.
“Because millennials favour experiences above possessions, their spending habits are quite hard to pin down. The amount of millennials that use our site to compare insurance quotes, is on the increase,” says Derek Wilson, Head of Hippo.co.za. “Some interesting research conducted in the US revealed that millennials, who have incredible buying power, aren’t likely to purchase insurance from a broker. In fact, they are 50% less likely to purchase insurance from a broker than their parents.”
So if millennials aren’t making use of brokers, what do their insurance-buying habits look like? And what do they expect from companies1?
“It is very clear that millennials know what they want, and in their minds, there is only one place to find it,” concludes Derek. “Hippo.co.za allows you to compare insurance quotes from a range of insurance and financial providers, thereby saving you time and money.”
Established in 2007, Hippo.co.za is South Africa’s leading financial comparison website that helps consumers save money by comparing a range of South African providers across financial products such as Car Insurance, Home Insurance, Life Insurance, Medical Aid and more. Hippo.co.za is free to use and saves consumers the time and hassle of shopping around for the best deal since the Hippo.co.za website instantly retrieves real-time quotes from the different providers using the latest Internet technology. One in two people could save hundreds of Rands per month* on their Car Insurance alone by using Hippo.co.za to compare before they buy or switch to a new provider.
Hippo.co.za makes money by simply charging its partners a fee when a customer chooses to find out more about their products. The results consumers see, and the order in which they are presented, are in no way influenced by the fee Hippo.co.za charges its partners or any other factors other than the price of the product being compared.
For more information, visit us on www.hippo.co.za, connect with Hippo.co.za on LinkedIn, http://www.linkedin.com/company/hippo-comparative-services-pty-ltd/, like us on Facebook, www.facebook.com/HippoSA, and follow us on Twitter @Hippo_co_za and YouTube, http://www.youtube.com/user/hippocompare.
Hippo Comparative Services (Pty) Ltd is an authorised financial services provider (FSP number: 16357). Terms and Conditions apply.
*Based on 2015 independent market research conducted by Kaufman Levin Associates.
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