Gen Z has entered their insured era ✨

A 2021 Verisk study revealed that Gen Z is not only attentive to insurance matters, but is also actively engaged in making informed decisions, shaping the insurance market.

Here are 3 factors insurers should take into consideration:

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🌴 Unique and Customizable Insurance Coverages

Gen Z’s top preferences for optional coverage include personal electronics, pet insurance, jewelry, small business income, vacations, and collectibles.

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💼 Gig Economy

Gen Z actively participates in the gig work, with music and personal care gigs in the top rank. 20% of Gen Z gig workers believe there's a chance their side hustle could turn into full-time jobs. 

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In conclusion, insurers aiming to capture the attention of Gen Z must adopt a diverse approach. By understanding and accommodating to their lifestyles, insurers can build lasting connections with the next generation of policyholders.

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👨‍👩‍👦 Diverse Living Arrangements

Gen Z are more likely to live with their parents, family, or rent rather than own their residences. They also tend to prefer the suburbs over cities. 

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