While recent headlines and legislation have focused on protecting consumers’ privacy rights, research shows that young consumers are actually willing to share their data—if rewarded with lower prices. In fact, nearly two-thirds of global consumers under the age of 34 say they would give more data to insurers in exchange for reduced insurance premiums.
In addition, 45% of younger consumers say they’d prefer to communicate insurers via digital channels like WhatsApp or Facebook. Read the full article to see how privacy concerns vary by country, and what this means for companies in the United States. See the complete analysis at The Actuary.