Study: Snapchatters More Open to Insurance Brands on Social Media

A new report from Snap and Ipsos suggests that Snapchat users are more proactive when it comes to insurance decisions compared to non-users.

The survey of 1,513 U.S. social media users found that 4 out of 5 Snapchat users (80%) already own at least one insurance policy. This makes them 1.4 times more likely than non-Snapchatters to be policy owners. Additionally, 82% of Snapchat users said they would consider switching insurance providers.

Snapchatters were also more familiar with policy terms, coverage details, and the overall insurance marketplace. The report noted that many Snapchat users, who are predominantly Millennials and Gen Z, have recently experienced major life events such as moving, buying vehicles, or starting families. As a result, 77% reported changing or adopting new insurance policies in the last six months – 1.8 times more likely than non-Snapchatters.

The study highlighted that Snapchat users frequently turn to social media, including Snapchat itself, for guidance on major purchases like insurance. Snapchatters were 2.6 times more likely than non-users to view insurance brands and products positively after seeing them on social platforms (74% vs. 30%). While Snapchat is traditionally seen as a youth-oriented entertainment app, the data indicates that its users are actively planning for financial protection and are open to insurance-related messaging.

The findings suggest that insurance brands may find value in reaching Snapchat’s audience, particularly as younger users navigate significant life changes and seek information through social platforms.