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At home with Millennials

Preventing without even knowing it: how Millennials protect their future

Did you know that only 15% of Millennials – people born between 1980 and 2000 – have insurance other than car insurance and that 70% of them* say they are not adequately informed about pensions and retirement planning? Young people, born at a time of recession, have low confidence about the future and they therefore tend not to plan anything, to live on a day-to-day basis and to only care about the “here and now”. But is that really the case?

 

In reality, Millennials take many small steps every day to protect their future. Simple, but prudent decisions that demonstrate their desire to protect what they have.

 

Let’s take homes as an example: digital assistants to create a smart home, robot vacuum cleaners and wireless cameras to make their homes safe. In 2017, almost 4.7 billion dollars was spent on security systems and Millennials accounted for a large part of this spending.

 

Contrary to common belief, Millennials already do a lot to protect themselves and to take care of their assets. It only takes one more step to safeguard everything they love: insurance.

 

Generali promotes simple informative communication to raise awareness and introduce Millennials to insurance issues with the aim of helping them to take far-sighted action, just as they do with small steps every day.

 

To know more visit the section about Property and Casualty insurance and watch the Generali' series "Insurance for Dummies".

* according to a study by State Street Global Advisors and Prometeia

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Generali is one of the largest integrated insurance and asset management groups worldwide. Established in 1831, it is present in over 50 countries in the world, with a total premium income of € 95.2 billion and € 863 billion AUM in 2024. With around 87,000 employees serving 71 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. At the heart of Generali’s strategy is its Lifetime Partner commitment to customers, achieved through innovative and personalised solutions, best-in-class customer experience and its digitalised global distribution capabilities. The Group has fully embedded sustainability into all strategic choices, with the aim to create value for all stakeholders while building a fairer and more resilient society.