Gen Z — Underinsured, Yes but They Want it to Change

The international association of insurance companies, the Geneva Association, did an interesting survey on insurance a couple of weeks ago. Generation Z — those born between 1995 and 2012 — are the age group the association says is currently wanting more insurance.

The association came to that conclusion after checking in with 28,000 households in the United States, France, Germany, Italy, Japan, Spain and the U.K. The focus was six different groups — low-income earners, migrants, the elderly, those self-employed, the chronically ill and Generation Z.

Of those groups. 32% of Gen Z’s respondents wanted more insurance coverage than the others. Most of that demand is in the U.S. and Japan. Affordability — especially among the Gen Z group and those with low incomes — is the main reason they do not have more coverage.

By the way, the survey found people in France purchase more voluntary insurance than other nations. That figure is 92%. The U.S. has the lowest number of people purchasing voluntary insurance. That number is 78%.

Source link: The Geneva Association — https://bit.ly/4hNXv02