Short Form Professional Development Videos -Market Readiness of Long-Term Care Products in Asia-Pacific Markets Recording

The video features Dale Hall, Managing Director at the Society of Actuaries Research Institute, where he presents findings from an SOA Research Institute study on the readiness of Asia-Pacific markets for commercial long-term care insurance (LTCI) amid rapid population aging. It highlights six key takeaways from five markets—Mainland China, Hong Kong, Taiwan, Singapore, and Japan—emphasizing that LTCI is technically complex, data-intensive, and highly sensitive to assumptions such as incidence, recovery rates, and service costs. Strong public long-term care systems, as seen in Taiwan, Singapore, and Japan, significantly improve the viability of private LTCI by providing data, awareness, and infrastructure. The script also stresses the importance of differentiating LTCI from critical illness insurance, thoughtful product design, and robust risk mitigation strategies. Overall, it concludes that while LTCI presents a significant opportunity in the region, success depends on careful market understanding, disciplined modeling, and comprehensive risk management.

View the full report here: https://www.soa.org/resources/research-reports/2023/market-readiness-ltc-asia-pacific/

 

Contributors: Dale Hall, FSA, MAAA, CFA, CERA; Rose Northon, Jon Forster, ASA, MAAA