Insurance Business Asia

Singaporean millennials open to purchasing insurance via app

Singaporean millennials are open to purchasing insurance through a mobile app, a study by insurtech firm Kovernow found.

The millennial generation is commonly defined as those born during the early 1980s until the mid-1990s, making them currently around 25 to 40 years old.

According to Kovernow’s survey, respondents’ attitudes to risk and purchasing insurance services were influenced by price advantages, ease of use, the buying experience and speedy claims processes. Over 500 respondents participated in the survey, out of Singapore’s millennial population of around 1.5 million.