2015 Life Insurance and Annuity Industry Outlook (Deloitte)
In many ways, the life insurance and annuities industry is on more solid footing entering 2015 than it has been for quite some time. Economic growth is improving and the unemployment rate is steadily falling, which should create a more conducive environment for carriers to market their products and services.
But fundamental challenges — some new, some ongoing — are keeping industry executives on their toes.
Meeting Millennials Where They Are
Millennials expect companies to enable them to interact and buy online, for their websites to make everything easy and convenient. Yet relatively few companies make it possible for them to complete the entire purchase process online. Further, only 46 percent of life and annuity companies provide electronic signatures for customer service transactions. It seems clear that in many cases, companies are not meeting Millennials’ expectations.
MIB Life Index Reports U.S. Life Insurance Activity Closed 2014 off -0.6% YTD
Application activity for individually underwritten life insurance closed 2014 off -0.6% YTD from levels observed at year-end 2013, according to the MIB Life Index. December’s activity increased +2.6% year-over-year.
Underwriting Gems: Total Bilirubin and RDW
In recent years, we have learned a great deal about the insurability implications of two common tests: total bilirubin and a component of the CBC called the red blood cell distribution index (RDW).
Pseudodementia: An Insurable Condition?
Pseudodementia is a term that describes specific types of reversible dementias. It is primarily associated with depression, but can be due to other causes as well. This article distinguishes pseudodementia from true dementia, discusses pseudodementia’s causes, characteristic signs and symptoms, diagnosis and treatments, and covers its most important mortality concerns.
Impaired Risk Review: Nonalcoholic Fatty Liver Disease (NASH)
NASH affects between 2 and 5 percent of Americans and is not always a benign disease or an incidental finding. Along with hepatitis B and hepatitis C, it is attracting large amounts of research dollars in the study of its prevention and treatment.
Why Data Drives Underwriting Assessments of Heart Valve Disorders
Mitral regurgitation, or mitral insufficiency, is the second most common form of valvular heart disease, after aortic stenosis. It’s a heart valve disorder that occurs when the mitral valve does not close properly during ventricular systole (contraction).
2015 EY US Life-Annuity Insurance Outlook
Prospects are generally upbeat in 2015 for providers of life insurance and annuities in the US. Insurers can expect to build upon recent improvements in annuity sales, as credit rates continue to increase and customers return to simplified, tax-deferred products. Life insurance sales will benefit from rising levels of consumer confidence and personal wealth, both driven by the ongoing economic recovery and expectations for gradual increases in interest rates.