PITTSFIELD, MA-A first-time survey conducted by Guardian Life Insurance Company of America shows Generation X (ages 30-45) and Generation Y (ages 18-29) employees foresee a lifetime of job mobility and career changes, compared to their baby-boomer parents. The survey’s results suggest that employee-offered insurance products need to change with the times, or risk being labeled as hopelessly outdated.
“With this amount of change, we have no choice but to understand that our products need to fit the changing expectations of the market,” commented Larry Hazzard, vice president of product strategy with Guardian Life Insurance, Berkshire Life Insurance Co., a subsidiary of New York City-headquartered Guardian Life Insurance of America .
The problem, he continued, is that the insurance industry is typically a slow-moving one and isn’t necessarily picking up on the needs of the newer generations.
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