2020 Foresight Report: Trends in Life Insurance Underwriting
Aarkstore Enterprise (India), 21st August, 2013 :
The report provides industry and geographic analysis, information and insights into the performance of life insurance segments in some of the important economies across the world. It also provides an in-depth analysis of the impact of important regulations on underwriting and the technological developments in life insurance underwriting:
Intensive analysis of the performance of life insurance segments in some of the important economies globally and their future outlook
Detailed analysis of the key impacts of regulations on the product strategy, the business models and the investment strategies of life insurance companies
Snapshot of the relationship between the gross domestic products of important economies across the world and key life insurance segment performance indicators
Comprehensive view of the latest technologies that are having a profound impact on underwriting processes and risk assessment in the life insurance segment
The life insurance segment is characterized by underwriting losses in some developed nations, and underwriting profits in important emerging economies such as China, India, Brazil and Russia. The life insurance segments in developed nations will record a rise in premium rates due to gradual recovery in their economies, meaning that life insurers will need to protect their margins. In the case of emerging economies, the life segment is moving towards a situation that is neither hard nor soft, due to factors such as the highly under-penetrated markets in these countries, increased competition among life insurers and rising disposable incomes. Globally, the life segment is in a state of flux due to far-reaching regulations such as Solvency II in Europe. These regulations essentially link the amount of capital held by life insurers with the risks they underwrite and the investments they make.
This report provides a detailed analysis of the key trends in life insurance underwriting across the world:
It details the performance of life insurance segments in the important economies of the globe, with a breakdown of the different performance indicators
It explains the implications of key regulations on the products offered by life insurance companies, the impact on their business models, their investment strategies and the likely impact on the premium rates
It demonstrates the relationship between the gross domestic products of nations and some of the important performance indicators of life insurance segments
It analyses the trends in premium rates in the important economies of the world
It details the important technological trends that will impact life insurance underwriting
It explains some of the changes being brought about in techniques employed for customer profiling
• The life insurance segments in the developed nations of the world have been under pressure because of the economic downturn. On the other hand, the life insurance segments in some of the emerging economies of the world have been thriving due to robust economic growth rates.
• Life insurance regulators across the world have been taking a risk-based capital approach wherein the type of risks that they insure and the type of investments made by them are determined by the capital held by them.
• Given the previously subdued premium rates in the key developed economies of the world, the prices are expected to increase in the future as the life insurers are intent on protecting their margins. The key emerging economies will also witness a gradual hardening of interest rates.
• The citizens of the developed nations, because of the reduction in their disposable incomes, have increasingly been selecting insurance products that provide basic life cover over hybrid or exotic products.
• Technological trends such as automation of the underwriting processes, scanning of social media of potential policyholders to gauge the risk that they represent and application of predictive modeling trends have been mainly impacting the underwriting practices of life insurance companies.
Reasons to buy
Understand how the life insurance segments have been performing in some of the important countries across the world
Understand how regulations are impacting the product strategies, business models and investment strategies of life insurance companies
Gain insights into how the GDPs of nations impact the performance of underwriting in life insurance segments
Be informed of the key technologies having an impact on the risk assessment and underwriting practices in the life insurance segment
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