Geopolitical and macroeconomic uncertainty—now perceived as the “new normal”—has redefined investment strategies in recent years and is reshaping the environment in which the largest intergenerational transfer of wealth in history will unfold.
For all wealth management players, including insurance companies, the real challenge will be to redefine investment strategies to meet the evolving needs of clients and to build loyalty among the new High-Net-Worth Individuals (HNWIs) of Generations X, Y, and Z. Their expectations revolve around three key pillars: personalisation, quality of service, and advanced technological solutions.
But how can the industry attract and retain this new generation of clients?
Navigating the Great Wealth Transfer
In addition to an environment marked by recurring instability, 2025 has brought a wind of change to the world of asset and wealth management.
According to the World Wealth Report 2025 by Capgemini, by 2048 the new generations—Gen X (aged 44–59), Millennials (28–43), and Gen Z (12–27)—will inherit around $83.5 trillion. By 2035, a significant portion of this wealth will be held by women, confirming their growing influence in global wealth management.
While this massive transfer of wealth opens new doors and opportunities for wealth management professionals, it also brings critical challenges. The Capgemini report reveals that around 81% of Next-Gen HNWIs plan to change their advisor—whether relationship manager, private banker, or another point of contact—within one to two years of receiving their inheritance.
This is not simply a change of counterpart, but a quest for a different approach: one that is more transparent, tech-driven, and aligned with the values of the new generation. When these qualities are absent, younger HNWIs do not hesitate to look elsewhere.
Adding to this dynamic is the issue of population aging and longevity, which is already reshaping paradigms around investment and wealth protection.
By 2050, the global population aged over 60 is expected to grow by 72%, while the under-20 population will decline by 16% (source: World Property and Casualty Insurance Report 2025).
Such a demographic shift redefines investors’ priorities: it’s no longer enough to simply preserve capital—wealth must be managed with sustainability and long-term protection in mind.
The New-Generation insurance approach
Some insurance players are already responding to these challenges with solutions designed for a sophisticated clientele—such as Octium. The Group specialises in the design, development, and distribution of unit-linked life insurance policies, instruments that naturally adapt to the evolving needs of HNW clients and their families across the various markets where the Group operates.
One of the key strengths of these solutions is flexibility, an essential factor in earning the trust of new generations. Life insurance policies today are not limited to being tools for wealth planning and protection; they can be seamlessly integrated with other legal structures or investment vehicles.
From a strategic standpoint, they allow the creation of portfolios designed to management style, risk profile, and underlying asset type—an approach truly aligned with each client’s needs.
This makes them particularly appealing to Next-Gen investors, who tend to be more risk-tolerant and seek services that align more closely with their expectations. This trend is reflected in the growing interest in higher-risk alternative assets such as private equity and cryptocurrencies, as confirmed by Capgemini’s research.
International portability and privacy
The new HNWIs operate in an increasingly global context. They study abroad, live in international cities, travel frequently, invest across borders, and pay great attention to data privacy. This creates new demands in terms of wealth structures and transparency.
In this context, international portability represents another key advantage of insurance solutions like those offered by Octium. Recognised across most EU countries and many global jurisdictions, unit-linked life insurance policies enable flexible and efficient wealth management that meets compliance requirements.
In addition, they simplify tax reporting and offer enhanced privacy protection—factors that are becoming ever more important for younger generations of clients.
