Gen Zs, Millennials drive 85% of total insurance sales

Gen Z and Millennial advisors conduct most of their business online.

Gen Z and Millennials in India now account for 85% of total sales, reflecting the company’s success in attracting tech-savvy advisors, according to Turtlemint.

Over the past year, Turtlemint facilitated premiums exceeding ₹2,000 crore, underscoring its market presence.

Turtlemint, an insurtech company, has shared data showing the growing influence of younger generations in its network of over 350,000 certified insurance advisors. 

The company’s advisors, particularly those from younger generations, are increasingly using digital platforms to expand insurance coverage, especially in underserved regions. 

According to Turtlemint, 78% of Gen Z and 74% of Millennial advisors conduct most of their business online, emphasising a digital-first approach that is transforming the industry.

About 80% of certified advisors comprise Gen Z and Millenials. The Indian states which had the highest total were Uttar Pradesh (90%) and Rajasthan (90%). This was followed by Madhya Pradesh (86%) and West Bengal (85%).

Dhirendra Mahyavanshi, Co-Founder and CEO of Turtlemint noted, “We are witnessing a remarkable surge in sales driven by Gen Z and Millennials. This data highlights the importance of digital transformation in the insurance industry, and we remain committed to providing innovative solutions that cater to the evolving needs of both our partners and customers.”