What are insurers doing to attract Gen Z?

Data from the Bureau of Labor Statistics shows that Millennials and Gen Z will comprise 60% of the labor force within the next decade.

According to an EY and LIMRA study, one-third of all employers and 40% of organizations with more than 1,000 employees identified that meeting the needs of a multi-generational workforce is a significant challenge. Remote and hybrid work is also here to stay, according to the study: 84% of employers said that at least some of their employees work remotely, and 31% said that a quarter of employees work remotely most of the time.

According to John Swigart, co-founder and CEO of Pie Insurance, a small business workers compensation insurer, offering remote or hybrid work is key to attracting new talent.

“Carriers can leverage digitization by offering flexible tools and modern communication platforms, but the most important thing we can do is to offer remote work and commit to it,” said Swigart. “Talent, not just Gen Z, want flexibility and control over where and how they work. Remote work options give employees the balance they crave while also opening up a much wider talent pool than if you only hire near an office location.”