For a lot of Gen Zers, financial stability doesn’t mean a steady 9-to-5 and a mortgage—it looks more like a side hustle, an emergency fund, and some savings tucked in a high-yield account. Our latest report, Gen Z & Insurance: Rewriting the Rules of Financial Stability, explores how today’s young adults are navigating a perfect storm of economic uncertainty, rapid technological change, and declining trust in institutions—and what the insurance industry must do to stay relevant in their lives.
Based on a national survey of 500 Gen Zers and in-depth qualitative interviews, the report sheds light on a generation working to build financial stability on their own terms—turning to side hustles, emergency funds, and DIY strategies as traditional institutions fall short.
Highlights from the report:
- Only 28% of Gen Z see a college education as essential to long-term success
- 50% believe side hustles and multiple income streams are the best way to achieve financial security
- Just 6% see traditional financial institutions like insurance companies as a trusted source of financial advice
The findings reveal a growing gap between what Gen Z is doing to manage risk and create stability, and the limited role insurance currently plays in that effort.
“There are a lot of assumptions being made about Gen Z right now, but as human-centered designers, we know how important it is to go deeper than the headlines—especially when you’re making strategic decisions for your business,” said Josh Levine, CEO of Cake & Arrow. So we talked to Gen Z and we listened.
What really stood out was how much effort this generation is putting into creating stability amid all of the uncertainty they face. Insurance should be part of that—but right now, it’s largely absent. We hope our report can help the insurance industry see this as an opportunity to show up differently—with tools that build confidence, products that flex with real life, and experiences that genuinely feel supportive.”
As financial norms shift, trust in institutions erodes, and self-reliance becomes the default, Gen Z is rethinking what protection and long-term planning should look like—and questioning whether insurance still has a place in it.
For insurers, the takeaway is clear:
To close the Gen Z value gap, the industry must rethink its role—not just as a safety net, but as a partner in resilience building. The report offers strategic insights and actionable ideas to help insurers:
- Empower Gen Z to take control of their financial journey
- Encourage long-term planning through timely, personalized support
- Position insurance as a key milestone in a broader financial plan
Download the Report
Gen Z & Insurance: Rewriting the Rules of Financial Stability is available now.
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