Not only are Gen Z insurance workers not worried about AI taking their jobs, they view the technology as a co-pilot for their careers, according to a survey by Counterpart and Young Risk Professionals.
Over 50% of Gen Z workers say AI is not a threat to their job, the data showed, with 69% believing AI will help their workflow. At the same time, nearly half of Gen Z respondents (45%) point to slow technology adoption as a serious industry issue.
"AI is transforming industries across the economy, but the insurance sector has staved off technological change for decades, leaving systems and thinking far behind other industries," says Tanner Hackett, CEO of Counterpart. "As insurance scrambles to catch up, young professionals have a unique chance to establish themselves as indispensable leaders in an industry undergoing complete reinvention, where AI expertise has the potential to trump traditional tenure."
Company AI policies:
- Forty-seven percent work at companies neutral on AI use.
- Twenty-seven percent receive some encouragement to use AI.
- Only 8% work where AI use is strongly expected.
- Twelve percent face discouragement or restrictions.
- Six percent allowed AI only in certain situations.
Meanwhile, Gen Z professionals are drawn to insurance careers primarily for stability (64%) and advancement opportunities (45%), according to the study. However, while the industry currently provides the security and mobility these young professionals seek, it faces unprecedented transformation ahead.
AI adoption outlook:
- Fifty-one percent believe AI may help but adoption will take time.
- Eighteen percent expect AI to significantly improve workflow.
- Eighteen percent are uncertain about AI’s impact on their work.
- Only 12% think AI won’t impact their workflow.
- Thirty percent have concerns about AI threatening job security.
“Leaders in every field and at every level of insurance should be advocating for the adoption of new technologies,” said Tanner. “Companies that act now will attract tomorrow’s talent and clients. Those who hesitate will lose both.”
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