Youngsters seek human, not AI insurance advisers
Young Filipinos still prefer human advisers over digital and artificial intelligence (AI)-based tools for life and health insurance as they grow more optimistic about their financial future.
A recent report by Prudential, the parent company of Pru Life UK, found that 76 percent of Filipino adults aged 20 to 35 prefer consulting a licensed adviser rather than using AI-based digital tools when making insurance decisions.
“Young adults in the Philippines stand out for their high reliance on personal connections and trusted advice when it comes to insurance and financial decisions,” the report says.
”They favour a balanced approach to risk in investing with a clear preference for long-term investment. Financial security and stability dominate their motivation,” it adds.
The Philippines ranked first in preference for human advisers among seven Asian markets surveyed—including Hong Kong, Indonesia, Malaysia, Singapore, Taiwan and Thailand. The study surveyed a total of 5,348 young adults across the region.
In contrast, regional peers are increasingly turning to digital tools, including AI-based platforms, for insurance guidance.
Among young Filipinos, 68 percent prefer advisers for identifying relevant products, 80 percent for understanding coverage details, 71 percent for navigating the claims process and 65 percent for managing policies.
This preference for human guidance comes as the Filipino youth feel optimistic about their financial future. Of total respondents, 81 percent expect their personal finances to improve over the next five to 10 years, while 44 percent believe more opportunities lie ahead.
In a press release, PruLife UK says the preference for human advisers is likely due to insurance and financial management being a “high-stakes” decision.
“Life and health insurance choices are viewed not as simple transactions, but as moments that require explanation, reassurance, and trust. This is reinforced by regular, real-world interaction with financial advisers, with 80 percent of young Filipinos having met or spoken with one in the past five years,” the insurer says.
But 73 percent say they live in an unpredictable era marked by rising living costs, family health concerns and financial security as key worries.
