Over seven in 10 (72%) of young people in Turkiye see insurance as a vehicle which can make their lives easier. In addition, with the advancements of technology and the digital age, those who prefer to purchase insurance through digital platforms constitute the overwhelming majority, at 78%.
These were some of the findings of a survey conducted by digital insurer Fibasigorta in collaboration with the consumer research company Twentify. The sample size was 401 people aged 15-29 across Turkiye. The survey examined young people's perspectives on insurance and their expectations of insurance in line with their future goals. Fibasigorta is a venture between Fibabanka and HDI Sigorta.
Other findings of the survey are:
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63% of respondents believe they can achieve their dreams.
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28% want to insure their time and labor losses.
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66% want to buy insurance in instalments or through small payments
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63% would buy insurance if the product is explained well and clearly
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The most important criterion for young people in obtaining insurance services is trust (35%)
Based on the findings, Fibasigorta is developing a new-generation insurance package specifically for young people. The insurer plans to launch a youth-specific package in 2026, which will be accessible online.
Fibasigorta general manager Erol Ozturkoglu told the local media, “Today, the insurance penetration rate in Turkiye is 2.3%. The average rate of insured people between the ages of 18 and 25 is around 6%. At Fibasigorta, we have an insured rate of 9% for this age group. This means we have reached a rate that is approximately 50% higher than the industry average. We are working to increase this rate.”