{"id":79279,"date":"2025-09-18T04:55:25","date_gmt":"2025-09-17T18:55:25","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=79279"},"modified":"2025-09-22T14:54:02","modified_gmt":"2025-09-22T04:54:02","slug":"changes-needed-to-capture-the-next-generation-of-clients","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2025\/09\/18\/changes-needed-to-capture-the-next-generation-of-clients\/","title":{"rendered":"Changes Needed to Capture the Next Generation of Clients"},"content":{"rendered":"<p>The <a href=\"https:\/\/www.capgemini.com\/insights\/research-library\/world-life-insurance-report\/?utm_source=PR&amp;utm_medium=Referral&amp;utm_campaign=WLIR&amp;utm_cre=IMG&amp;utm_id=2025Aug13\" target=\"_blank\" rel=\"noopener\">World Life Insurance Report 2026<\/a>, released by the <a href=\"https:\/\/www.capgemini.com\/\" target=\"_blank\" rel=\"noopener\">Capgemini Research Institute<\/a> and <a href=\"https:\/\/www.limra.com\/\" target=\"_blank\" rel=\"noopener\">LIMRA<\/a>, highlights both an opportunity and a challenge for financial advisers.<\/p>\n<p>Among the findings of its global survey are that while 68% of adults under 40 view life insurance as essential to their financial wellbeing, adoption remains low due to misaligned products, complex processes, and a lack of near-term value.<\/p>\n<p>Authors of the report conclude that to close this divide and win the next generation, life insurers should focus on three core pillars of transformation:<\/p>\n<ul>\n<li>Innovate the product: launch flexible solutions with living benefits at the core<\/li>\n<li>Empower the advisor: equip agents with AI tools and customer insights for personalised guidance and modernise compensation models to attract the next generation of agents<\/li>\n<li>Forge strategic ecosystem partnerships: embed life insurance into everyday experiences by seamlessly partnering with financial institutions, wellness companies, and HR platforms<\/li>\n<\/ul>\n<p>The study reveals consumers under the age of 40 are delaying or skipping the traditional triggers for purchasing life insurance, stating that 63% have no immediate marriage plans and 84% of both single and married people have no immediate plans to have a child.<\/p>\n<figure id=\"attachment_79282\" aria-describedby=\"caption-attachment-79282\" style=\"width: 350px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.capgemini.com\/insights\/research-library\/world-life-insurance-report\/?utm_source=PR&amp;utm_medium=Referral&amp;utm_campaign=WLIR&amp;utm_cre=IMG&amp;utm_id=2025Aug13\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-79282\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2025\/09\/CapGemini-Report.png\" alt=\"CapGemini Report 2026.\" width=\"350\" height=\"224\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2025\/09\/CapGemini-Report.png 350w, https:\/\/riskinfo.com.au\/news\/files\/2025\/09\/CapGemini-Report-300x192.png 300w\" sizes=\"auto, (max-width: 350px) 100vw, 350px\" \/><\/a><figcaption id=\"caption-attachment-79282\" class=\"wp-caption-text\">Click the image to access the full report.<\/figcaption><\/figure>\n<p>The report, which polled more than 6,100 people aged 18-39 across 18 markets \u2013 including Australia \u2013 highlights a notable paradox as the great wealth transfer continues.<\/p>\n<p>With millennials and Gen Z expecting an average inheritance of more than $100,000 each, life insurance remains an important destination for these funds.<\/p>\n<p>In fact, forty percent of under 40 adults rank life insurance and annuities as the third most important pillar for their inheritance investment plan, behind stocks and cash savings.<\/p>\n<p>\u201cAs the next generation accumulates wealth and pursues a less traditional life path, their expectations around financial protection are evolving,\u201d said <strong>Samantha Chow<\/strong>, Global Leader for Life Insurance, Annuities and Benefits Sector at Capgemini.<\/p>\n<blockquote><p>&#8230;life insurers can bridge this gap by deploying innovative products&#8230;<\/p><\/blockquote>\n<p>\u201cThe life insurance industry cannot rely solely on traditional death protection to sustain its future. Life insurers need to demonstrate value to include near-term gratification \u2014 delivering tangible benefits that customers can access during their lifetime.<\/p>\n<p>\u201cFortunately, life insurers can bridge this gap by deploying innovative products and articulating their value in ways that resonate with tomorrow\u2019s policyholders.\u201d<\/p>\n<p>Global life insurance executives told researchers that aging populations and rising longevity (64%), delayed life milestones (53%), and continued economic uncertainty (51%) are key drivers of their long-term strategies.<\/p>\n<p>When asked about barriers to buying life insurance, younger consumers cite a misalignment with their current stage in life (32%), high premium costs (28%), and lack of immediate benefits (25%).<\/p>\n<blockquote><p>&#8230;price misconceptions, coupled with competing financial priorities, positions life insurance at a disadvantage&#8230;<\/p><\/blockquote>\n<p>Instead, state the report\u2019s authors, younger adults want easy access to \u2018living benefits\u2019 that support their changing life journeys, seeking everything from wellness rewards for healthy behaviours to coverage for fertility treatments.<\/p>\n<p>\u201cCarriers need a different playbook when marketing life insurance to the younger generations,\u201d said <strong>Bryan Hodgens<\/strong>, Senior Vice President and Head of LIMRA Research<\/p>\n<p>\u201cOur joint research shows that the price misconceptions, coupled with competing financial priorities, positions life insurance at a disadvantage with younger adults.<\/p>\n<p>\u201cCarriers must not only demonstrate the accessibility and affordability of life insurance but also need to reimagine the product to address younger adults\u2019 current financial priorities while adapting to meet their future financial goals as they age.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The World Life Insurance Report 2026, released by the Capgemini Research Institute and LIMRA, highlights both an opportunity and a challenge for financial advisers. Among the findings of its global survey are that while 68% of adults under 40 view life insurance as essential to their financial wellbeing, adoption remains low due to misaligned products, [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":79291,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"class_list":{"0":"post-79279","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-company-news"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/79279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=79279"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/79279\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/79291"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=79279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=79279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=79279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}