Tom Kriby, VP of Client Development and Partnerships at Westwood Insurance Agency, highlights the growing influence of millennials and Gen Z in the homebuying market. In 2023, these two generations made up 60% of mortgage applications, with 83% of first-time buyers coming from this group. Their tech-savvy, demand for speed, simplicity, and transparency in the homebuying process positions them as prime candidates for new construction homes.
This is where an embedded insurance solution can be a game-changer for younger generations. Builders who embed insurance provide a streamlined digital process with instant access to quotes ensuring price transparency during the purchase agreement—no waiting and no surprises. Homebuyers who elect to go with the embedded offer are able to take care of this requirement quickly, alleviate the stress of affordability concerns and allowing more time to focus on the other steps of buying a home.
Learn more about the embedded insurance model and how it aligns with the preferences of younger generations and how builders who take this proactive step may be seen as trusted advocates who truly understand their homebuyers’ needs. Read the full article on thebuildersdaily.com.