Sooner or later, every insurance company will need to implement a strategy for Generation Z (7- to 24-year-olds in 2022), simply because they are joining the workforce and/or becoming clients. This is why the Swiss Life Network has asked TrendsActive to develop a trend report, covering six in-depth socio-cultural trends on the changing needs and behaviour of Generation Z as well as 10 opportunities for insurers to seize. The highlights of this report will be presented by Aljan de Boer, Head of Inspiration at TrendsActive, at the coming Network Partners conference in Cannes.
"Imagine being between 7 and 24 years old and growing up in a world shaped by a pandemic, climate change, mental health crises, rising inflation, a war on Ukraine, polarization of politics and shifting identities. While the facts are alarming, Generation Z’s feelings and outlook for the future are sometimes close to dystopian. Why would you need a pension plan?
It’s not all doom and gloom for the next generation. Young people - as always - aspire to change, have high hopes and ambitious visions inherent in the positive and adaptive mindset that characterizes human beings. We can show them how to drive change through actions such as ESG-focused investing. At the conference, we will take a deep dive into the mindsets of Generation Z."
Aljan’s presentation will offer insight into the ways that future generations may affect the insurance industry and your business. As a result, you will be better prepared to harness innovation, drive change and boost your company’s lifespan. However, understanding and anticipating how to stay relevant to Generation Z is just half the story. The other part is becoming future-ready as an organization.
Generation Z will put companies under tremendous stress. It will show which businesses are ready for the many changes the near future will bring — and which are not. In times of crisis, such readiness is also a source of resilience. It reflects the capacity of companies to adapt, the robustness of their internal capabilities and their ability to find new sources of growth. The more uncertain the future looks, the more important it is for companies to prepare for it.
Staying relevant for Generation Z and becoming future-ready programme
To help you anticipate the changing needs and value of Generation Z and prepare for the future, we have developed a 3-day tailored learning experience. This programme stems from a close collaboration between Michael Hansen (CEO Swiss Life Network), Howard Yu (LEGO professor of management and innovation at the IMD business school in Switzerland and Head of the Center for Future Readiness) and the team of TrendsActive, a leading trend consultancy from the Netherlands using social science to human-proof business decisions. The programme will be shared during the conference.