Who’s Who in the Insurance Landscape – Defining Your Audience Segments

[This article was generated by ChatGPT and has been edited by the Surer team for clarity, readability and context.]

In the dynamic world of general insurance, one size never fits all. Trying to offer the same policy to every client is like serving the same dish at a buffet and hoping everyone loves it. As a general insurance intermediary in Singapore, the first step to meaningful engagement is clear: know who you’re talking to.

🧠 Why Segmenting Matters

Segmentation helps you tailor your pitch, your service, and your entire approach based on client needs, preferences, and life stages. It’s about becoming more relevant, more helpful, and yes, more profitable. Without segmentation, you’re basically shouting into a void.

🤝 Understanding Your Clients

Let’s take a look at the common segments you’ll encounter:

1. The Fresh Grad Explorer (21–28)

• Just entered the workforce
• Exploring basic insurance: travel, motor, personal accident
• Wants affordability and simplicity
• Prefers digital communication, quick replies

🧠 Stat: Over 85% of Singaporeans aged 21–29 own smartphones and spend 3+ hours daily on social media (IMDA, 2023).

2. The Sandwich Generation Warrior (35–50)

• Balancing responsibilities between kids and elderly parents
• Needs home, maid, personal accident, travel insurance
• Cost-conscious but values strong coverage
• Favors clarity, appreciates WhatsApp follow-ups

3. The Golden Veteran (55–70)

• Likely semi-retired or retired
• Looks at medical, personal accident, travel insurance
• Prefers human touch: phone calls, face-to-face consults

🧠 Stat: 61% of Singaporeans aged 60+ prefer in-person consultations (LIA SG Survey, 2022).

4. SME Business Owners

• Might need a mix: business interruption, commercial property, work injury
• Highly practical and value-focused
• Prefers prompt responses, detailed breakdowns

🧠 Stat: SMEs make up 99% of enterprises in Singapore and employ 70% of the workforce (Enterprise Singapore, 2023).

🎯 How to Define Segments

You don’t need a data science degree. Start with:

• Demographics: Age, gender, job role
• Psychographics: Values, pain points, motivators
• Behaviour: Channels they use, how they purchase
• Insurance needs: By life stage or business type

Group clients into practical buckets like “young professionals,” “working parents,” “senior citizens,” and “business owners.” Tailor your touchpoints accordingly.

TL;DR: Defining your audience segments gives structure to your outreach. Speak their language, address their needs, and they’ll remember you not as “just another agent” but as their go-to insurance pro.