The FinTech industry is booming because of the attractive market for millennials. Younger generations are more flexible and less likely to choose firms based on tradition. Millennials tend to switch between preferred companies based on convenience and simplicity. FinTech has been largely steered towards millennials because mobile platforms such as Robinhood, Petal, and Acorn are able to have seamless apps with virtually no learning curve and limited costs. Beyond financial services, startups have been increasingly targeting opportunities for growth in the insurance industry.