Description: The life insurance industry has experienced dramatic changes since the onset of COVID-19 in March 2020. Growing competition, a rise in online shopping, and the impact of COVID-19 have all led to an increase in contactless and completely digitized life insurance options. At Policygenius, we wanted to dig deeper into these big industry changes and better understand how they affect life insurance buyers. What our 2022 life insurance trend report found was a changing industry, making tremendous strides, and creating even better pricing and policy options for customers.

Description: In setting future mortality assumptions for pricing, the actuary needs to consider not only recent results and recent annualized mortality improvements, but also must look at the possible impact of possible shocks epidemics, wars, etc.

Description: This article reports on a presentation given at the SOA Annual Meeting in October 2014 (Session #43). The presentation, entitled the “Current State of the COLI/BOLI Market”, addressed current developments and issued related to the Corporate-Owned Life Insurance (COLI) and Bank-Owned Life Insurance (BOLI) markets. The Greg Brandner from Munich Re served as moderator, and he along with Julie Decker from RGA and Kelly Rabin from Milliman were the speakers.

Description: The limited availability of life and protection cover for people living with certain serious health conditions is starting to become a critical issue for insurers. The public perception is that insurers simply don’t offer cover, or that it is difficult to source affordable, tailored cover. This article discusses the considerations when trying to improve access to insurance.

Description: The embattled life insurance industry in Australia needs to come to terms with a new environment of heightened claims volumes, unprecedented losses, changing distribution models and even reduced benefits. Like the mythological phoenix that spectacularly regenerates from its ashes every century, Australia’s life insurance industry needs something special to rise from its ashes. Claims management innovation promises to give the necessary impetus for a market that is desperate for some good news, whilst laying the foundation for a claims revolution worldwide.

Description: This article reports on a session at an underwritering meeting in which the panel included an actuary, an underwriter and a marketer. Each presented his point of view about the status of the insurance business and the difficulties of increasing production.