2026-10-14 · Source: Insurance Thought Leadership
Summary in 3 Points • Gen Z is nearly twice as likely to prefer digital wallets for claims payments compared to the overall population. • Only 9% of policyholders received their claims payment within two days, highlighting dissatisfaction with slow processes. • 75% of policyholders would consider switching carriers after a negative claims experience, particularly in personal-lines P&C. --- Gen Z's demand for instant digital experiences is reshaping the insurance claims process, with a significant preference for digital wallets. According to InvoiceCloud's survey, only 9% of policyholders received their claims payment within two days, leading to dissatisfaction and potential carrier switching. The survey indicates that 75% of respondents would consider changing providers after a single negative claims experience, particularly in personal-lines P&C where switching is easier. To retain these younger policyholders, insurers must modernise their claims processes, focusing on speed and transparency. Digital disbursement platforms are essential for meeting Gen Z's expectations, allowing for faster payments and a variety of payout options. As younger generations increasingly dominate the market, their preferences for seamless digital transactions will become critical for insurers aiming to maintain customer loyalty and satisfaction. Gen Z's preference for digital claims payments is pushing insurers to modernise their processes, impacting personal-lines P&C retention strategies.
Gen Z's preference for digital claims payments is pushing insurers to modernise their processes, impacting personal-lines P&C retention strategies.