According to the London based start-up, 60% of millennials travel without insurance as it is “far too complex”. As a result, people “don’t know what they’re buying and therefore don’t buy”.

Pluto seeks to combat this by providing tailored, jargon-free, easy to understand policies. Customers can get a quote on the company’s website in 60 seconds, or in three minutes if they prefer to build a personalised policy. Once purchased, customers have 24/7 access to support via Facebook Messenger, where they can view and edit their policy or make a claim.

By offering simple policies that can be tailored to fit individual needs in just a few mouse clicks, Pluto is well positioned to appeal to the younger generation, who desire quick and convenient services. And for every policy sold Pluto donates £1 to charity, a move that will be welcomed by ethically minded millennials.

Although Pluto has designed a product that will appeal to young adults, creating awareness and generating uptake will still prove challenging. Millennials have grown up in an age of media streaming, personalised social media feeds, and two-day free shipping with Amazon. Convenience is key with this demographic, and the fewer places they need to visit to get what they want the better.

Pluto can capitalise on this by partnering with airlines or price comparison sites like Expedia so that whenever an individual within a certain age range purchases a flight, they are offered the option to buy a Pluto policy. Pluto also needs to ensure that Google’s algorithms highlight it if someone searches for holidays or travel. Doing this ensures customers can buy everything all in one place, and even if they do not purchase travel insurance for that trip it is at least on their minds.

Pluto can also benefit from its ability to provide custom policies in three minutes. Advertising in airports or train stations may be particularly successful for the company, as customers can purchase a policy quickly on their smartphone before the trip if they have not already done so.

By finding ways to engage with its target demographic, Pluto has the opportunity to increase uptake of a valuable product among millennials while carving out a profitable niche in the market.

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