Who is the New Insurance Consumer?

By Tim Finnigan, Director of Product Marketing at Verisk Marketing Solutions

Trends, Data, and Strategies for Profitable Growth

The insurance industry is at a turning point. Insurance consumer demographics, behaviors, and expectations are shifting rapidly, and carriers are feeling the impact. At the same time, privacy regulation, digital transformation, and the growing importance of data are reshaping how insurance is bought, sold, and experienced.

This year, I’ve had the privilege of presenting at several industry events including The Verisk Insurance Conference (VIC), The Society of Insurance Research (SIR) and Digital Insurance Connect alongside my colleague Dan Schwind, VP of Insurance at Verisk Marketing Solutions. Together, we explored how insurance consumers are changing, blending Verisk’s data and insights with market trends and real-world strategies to help carriers adapt, grow profitably, and deliver better customer experiences.

Shifts Defining Today’s Insurance Consumer

Today’s insurance consumers are more informed and discerning than ever before. They are actively researching options, comparing prices, and seeking value beyond just the premium.

They are also becoming more knowledgeable of factors like deductibles, optional coverages, and the overall value proposition offered by different carriers. This shift requires insurers to move beyond simply competing on price and focus on building trust, providing personalized experiences, and demonstrating the value they bring to customers.

Insurance consumers are not static. They’re people—constantly evolving and changing, and carriers must evolve with them:

Shifting demographics: Millennials and Gen Z are entering their prime insurance-buying years, bringing new expectations for digital convenience and personalization.

Changing behaviors: Consumers are blending traditional agent interactions with digital-first tools.

Rising expectations: Personalized, data-driven experiences are no longer optional—they’re expected.

As I told multiple audiences: “We’re all insurance consumers ourselves. We expect convenience, personalization, and trust from the brands we do business with.”

Three Imperatives for Modern Insurance Marketing

At Verisk Marketing Solutions, we see three key imperatives shaping insurance marketing today:

Personalization and relevance

Carriers must combine first and third-party data to build a complete view of prospects and policyholders. This enables smarter timing, relevant product offers, and consistent personal experiences across the customer lifecycle.

Omnichannel engagement

Consumers shop across multiple touch points online through agents, email, and mobile apps. Connecting identity and behavior across these channels remains challenging but an opportunity to focus on creating a more seamless experience for customers.

Data governance and compliance

Consumers expect personalization and privacy. Carriers need transparent governance frameworks that protect consumer data and build trust while enabling growth.

Zooming in on the opportunity

The insurance market is massive, but not every consumer represents a profitable opportunity. By focusing on married, single-family homeowners aged 30–50, carriers can identify one of the most attractive segments for personal lines:

• 161M U.S. homeowners
• 41.5M are single-family homeowners aged 30–50
• 19.5M are married couples in this group
• About half have multiple vehicles
• 72% have incomes above $75K/year ~5.6M households

These households combine stability, insurable assets, and lower risk. But carriers must still assess geographic factors and pricing adequacy before targeting.

Smarter Outreach, Stronger Retention

By understanding evolving insurance consumer behaviors, leveraging intent data, and delivering seamless, personalized experiences, carriers can grow profitably while strengthening relationships.

Verisk Marketing Solutions helps insurance carriers do exactly that: connect with the right customers at the right time, build trust, and drive measurable growth in a changing market.