What’s holding Gen Z back from an insurance career — and how the industry can fix that

Generation Z sees the property and casualty insurance industry as “rigid, outdated, and misaligned” with their values. And that’s holding them back from pursuing a career in the industry, according to new research.

Seventy-nine percent of Gen Zs say they have never considered a career in insurance, according to a survey conducted by Cake and Arrow, a design and research agency for the financial services. Gen Z is defined as people between 18 and 28 years old; or born between 1997 and 2007.

Half (49%) say they have no interest in working in insurance, and another 14% say nothing can convince them to work in insurance, according to the survey of 519 Gen Z’s. 

Survey respondents highlighted several barriers to engagement in insurance, including: 

• Outdated corporate culture 

• Repetitive, uninspiring work 

• Lack of flexibility, autonomy, creativity 

• Opaque pathways into the industry 

• Fear of getting stuck in a stagnant career 

The report notes many considerations go into Gen Z’s decision to pursue a career path or enter an industry. And by understanding what motivates Gen Zs, the insurance industry can position itself to attract more people from the youngest workforce generation.  

Here are the primary factors creating a disconnect between working Gen Zs and a career in the insurance industry, says the report, which includes solutions to change Gen Z’s perceptions.  

Value alignment 

For Gen Z, working for a company with ethical standards they can support is a top selling point for any job. Specifically, 41% of respondents say doing meaningful work that makes an impact is among their most important consideration. 

“What might make me consider a job in insurance is if insurance companies had ethics I could actually stand behind, instead of relying on my ethics to navigate their unethical business practices on behalf of their customers,” said one 24-year-old respondent. 

“If I knew I could actually help people — not just…deny claims — I might consider it,” said another 18-year-old respondent.  

Solution  

For insurance providers, these negative perceptions mean it is important to emphasize the value the industry brings to customers, and how the industry makes communities feel safe and supported after a claim.  

“For some, fulfillment can mean helping people, for others it can be as simple as knowing that the company they work for provides a product or a service that people want and need,” the report reads.  

Flexible, yet stable 

Asked to name the most important thing about work, 66% of Gen Z’s said financial stability. And insurance scores high marks here.  

“In our qualitative interviews, we found that stability was the most appealing aspect of insurance careers, especially compared to industries being disrupted or decimated by AI and economic volatility,” the report reads.  

However, although Gen Z prizes the stability of insurance, they also see the industry as overly corporate, inflexible, and rigid. “They value stability, but won’t sacrifice flexibility, autonomy, or work-life balance to get it,” says the report.  

“I get the vibe that a lot of insurance companies are…every day, full return to the office. That’s definitely not for me,” said one 23-year-old respondent.  

That’s a common sentiment; 41% of Gen Z’s say flexible work options would make them more likely to consider an insurance job. Another 39% say a strong work-life balance would make them more likely to consider an insurance job.  

Gen Z also wants the ability to grow their career on their own terms.

Solution 

Insurance companies should consider introducing modern tools to make work agile and innovative, the report suggests.  That may mean offering them flexible roles, adaptive benefits, and entry points reflecting today’s non-linear career paths. 

Negative experiences 

Generally, the report finds Gen Z has a narrow view of what a career in insurance could look like.  

In fact, when asked directly, 67% of Gen Z’s said working in insurance would be “boring.” 

“When they think about insurance jobs, the kinds of things that come to mind are claims, customer service, and paperwork. They conceive of insurance work as stressful, tedious, and most of all boring,” says the report. “Gen Z’s exposure to insurance careers is limited, and when they do encounter them, it’s often at the point of stress: a denied claim, a billing issue, or a long phone queue.” 

“If there were insurance roles tied to things I’m more interested in, like sustainability, I’d be into that. But if you asked me straight up, ‘Is insurance where you want to work?’ I’d say no,” said a 24-year-old financial analyst. 

“I think I’d be decent at it, but I definitely don’t think I would enjoy it,” said a 24-year-old PhD student.  

“I just don’t want to be on the phone all day in a cubicle being yelled at by some random person,” said a 19-year-old student.  

Solution 

People in Gen Z need clarity on how their skills translate into “meaningful, non-menial” work, the report suggests. 

Gen Z rarely sees or hears about industry roles involving tech, data, research, design, or strategy. Yet, all of these roles have homes within the industry. This serves as one opportunity to engage the younger cohort.  

Plus, the industry must modernize the customer experience to appeal to Gen Z, given their poor perception of the claims process, the report suggests.  

Corporate ladder 

Thirty-seven percent of Gen Zs surveyed report working at large corporate companies. But only 16% expressed interest in working for these same kinds of companies in the future. 

Gen Z identified fast-moving, inclusive environments as important to them. They don’t associate these workplace traits with insurance. 

“I really like fast-paced work — where every hour feels like it’s contributing to something real, something the customer can see or that drives an outcome. In larger companies, that gets harder,” said one respondent. “In insurance, if you’re working on something like a new system rollout, or a campaign, it can take years to see the impact.” 

“I’m looking for a workplace that’s inclusive — where there’s space for everyone to speak, even if you’re younger or less senior,” said another. “That’s not at all what I imagine the insurance industry to be like.” 

Solution 

The younger generation thrives in “dynamic and creative cultures that recognize their accomplishments, offer autonomy, value their contributions, and provide clear opportunities to grow,” the report reads. 

Plus, Gen Z is afraid to stagnate. So, the report suggests companies can offer Gen Z roles in which they can lead change, including areas such as customer experience, product, and strategy.