More than two in three young adults prefer human advisers for insurance: report

About 69% prefer human advisers and 31% choose digital, AI tools.

More than half (69%) of young adults in Singapore prefer human advisers, whilst 31% prefer digital tools and artificial intelligence (AI) when seeking insurance advice, Prudential plc found.

Whilst young adults in Asia trust their own judgment, use digital platforms to compare and manage their insurance, they turn to human expertise when big decisions or complex questions arise, the insurer said in its research.

Its study, titled "Financial Mindset of Young Adults in Asia,” surveyed young adults aged 20 to 35 across seven Asian markets, including Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Taiwan, and Thailand.

Many actively seek out human guidance to build confidence in their choices, particularly regarding insurance coverage and claims, the firm said.

Across Asian countries, 54% of respondents are confident in choosing and managing their insurance and investments on their own. About 45% prefer digital and AI tools for real-time financial management.

Singapore followed the Philippines, where respondents in the Prudential study showed the highest preference for both digital and AI tools amongst Asian countries at 76%, the insurer’s data showed.

Indonesia showed the lowest preference for both digital tools and human insurance advisers at 49% and 51%, respectively.

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