Trōv is aiming to make insurance more appealing to Gen Yers by ditching complicated policies, instead providing simple and flexible protection through an easy-to-use app. But can it win over a generation of consumers who still see coverage as an optional extra rather than a necessity?

Buying insurance is never fun – it’s a grudge purchase. After all, no-one wants to think about their house going up in flames. And this feeling is amplified for Gen Yers, who often fail to see insurance as part of their financial picture. Insurers are adapting in order to appeal to this generation.

The attitude to buying life insurance is unlike getting a car or shopping for groceries. After all, who wants to think about dying? Yet despite their reluctance, 39% of Gen Yers claimed they’d get a policy in 2015. How are insurers making the process of getting life cover easier and more accessible?

Are Gen Yers splurging their cash when they should be saving? Are they really saying no to home ownership? Do they actually have no use for brick-and-mortar bank branches? Canvas8 sat down with British men and women between the ages of 18 and 35 to find out where their cash really goes.