New research suggests that a significant majority of younger UK workers would purchase insurance to protect themselves against the risk of losing their job to artificial intelligence.

Data released by Carr Consulting & Communications reveals that 63% of 18 to 34-year-olds would buy a policy specifically designed to safeguard against redundancy caused by AI.

The survey, carried out by Opinium Research in June among 1,299 UK adults, indicates a marked generational divide in attitudes towards the perceived threat of AI in the workplace.

Gen Z workers – those aged 18 to 27 – were the most likely to say they would purchase such protection, with 64% responding positively. Among millennials aged 28 to 43, the figure was 60%.

GEN X DISINTEREST

Interest dropped sharply in older cohorts, with just 34% of Generation X (44 to 59) and 21% of baby boomers (60 to 78) saying they would consider the insurance.

The findings highlight growing anxiety among younger workers about the rapid pace of automation and digital transformation in the workplace, especially in sectors already feeling the impact.

Men were more likely than women to express interest in the product, with 52% saying they would buy it, compared with 44% of female respondents.

Among professional sectors, those working in IT were the most likely to consider purchasing such insurance, with 77% saying they would do so. They were followed by workers in manufacturing (61%) and finance (55%).

Those in healthcare, retail and education were among the least likely to express interest, despite widespread concern in public discourse about the impact of AI across these industries.

Each of those sectors saw 65% or more of respondents say they would not buy such cover.

DRIVERS

Kesh Thukaram, co-founder of Best Insurance, said claims data over the past few years indicates a sharp rise in unemployment among tech and IT professionals.

“Although the initial spike could be attributed to post-Covid normalisation of IT and e-commerce, sustained claims from these roles indicate the automation of IT processes and increased use of AI.

“While the main drivers for unemployment insurance policies have traditionally been around mortgage protection, increasingly we are seeing the threat from AI as a key driver,” he said.

Ryan Griffin, protection director at Beagle Street, echoed the sentiment, adding: “AI is changing the working landscape daily and all businesses need to embrace it and weave it into how they work.

“Given the pace of adoption, it’s no wonder Gen Z is feeling jittery about their job security and wondering what the future holds.

“As insurers, we need to keep up with technological change and ensure our protection products remain relevant.”