These advancements are fantastic to see, but how else can insurance companies best harness this talent and prepare these individuals for a fruitful career in insurance and risk management? Organizations looking to attract young talent and take advantage of the fresh skills and insight they bring to the workplace might consider the following best practices:

Create an open dialogue: To reach the younger generation, insurance organizations need to get in front of them. Events through organizations like GIS offer companies and students common ground to open a dialogue about what students are looking for and how a particular organization could meet those needs. As students continue their educational journeys, they will remember the organizations that took the time to listen to them. At the same time, the insurance organizations will gain a better understanding of students.
Invest in the long-term: Contrary to popular belief, Gen Z is interested in long-term career opportunities. Their path may simply look a little different. The younger generation recognizes that there is no replacement for real work experience and the support of an invested mentor. But the insurance industry needs to understand that Gen Z is not interested in the traditional, linear insurance career path. Gen Z wants true, continued education throughout their careers. They are interested in knowing how the entire process works for the sake of improving it. As such, it is critical that insurance organizations allow students and young professionals to try different aspects of the business such as underwriting, marketing, actuarial services and more. Gen Z is looking for a diversified experience and they are eager to understand insurance in its entirety.
Keep a finger on the pulse: Understanding what the incoming generation is looking for as far as aspects of insurance, why they are intrigued by it and of course, what benefits they find important in a job are all important to consider. For example, students have really taken to risk management focused educational programs. The title alone sounds exciting. As a result, many of GIS's university partners have created risk management programs, certifications, majors and minors. Considerations and effort toward diversity, equity and inclusion (DEI) and environmental, social and governance (ESG) will also continue to be a priority for Gen Z and they will search for a company that has similar values. And finally, Gen Z is also interested in more practical benefits in the workplace. Gone are the days of over-the-top offices with foosball tables and kickback areas. Gen Z would rather trade that in for flexible work hours, meaningful work, salary negotiation and insurance coverage.

The best of both worlds

Gen Z has grown up with technology. They want to use it to their advantage, and they certainly do not fear it. At GIS, we have seen thousands of students free up time in their schedules to attend insurance industry events, immerse themselves in the industry and confidently shake hands with decision makers. Gen Z is looking to create the best of both worlds, where technology makes it easier to focus on growth, innovation and getting to know industry peers and customers alike.

Special Reports /

How insurers can appeal to students and Gen Z

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