Financial Services: Seniors Satisfied, Gen Y Aloof

Cambridge, Mass. - Across every generation, females are more likely than males to say that life insurers meet their needs, and the relationship female seniors have with their life insurance providers is especially strong, according to new report by Forrester Research, Cambridge, Mass.  Forrester's Report, "Do Financial Institutions Meet Customer Needs" evaluated the relationships consumers have with eight types of financial institutions, including insurance. This most recent report is based on findings from Forrester's NACTAS Q3 2006 Survey. No surprise, banks were reported as the most prevalent provider, and seven of 10 consumers in the report--across all age groups--believe that banks meet their current needs.  Both male and female seniors believe that home and auto insurers meet their needs. At the other end of the spectrum, only about half of consumers of all ages think that their credit card providers meet their needs. Across all of the other institutions, the Generation Y Group (consumers born between 1976 and 1982) are the least likely to have a relationship with a financial institution, says Bruce Temkin, Forrester senior analyst and author of the report.  "We also found that credit card providers most often meet the needs of seniors and life insurers meet the needs of females more often than they do males. Looking across the institutions, it's clear that younger Boomers could use more attention," says Temkin. For more information, visit www.forrester.com