What will the life insurance/annuity sector be like in 2030? Resource turned to some seasoned executives for answers.
As global population pyramids invert, governments will strain to meet growing protection needs and dependency burdens. RGA's Tim Rozar takes a look Inside the crystal ball in The Actuary, a publication of the Society of Actuaries and delivers seven predictions that are by turns sobering and hopeful.
Could 2019 be the year of an underwriting technology transformation? We’re not yet ready to make that prediction, but we do see the makings of a transformation, as more insurers invest in technologies that they believe will deliver solid returns to their top and bottom lines. In fact, underwriting is the second-largest category within the growing life insurtech investment sector.
Insurance leaders predict what’s ahead for sales and profits, information technology, customer service, human capital—and more.
Life insurance companies continue to recalibrate in the face of new regulations, evolving technologies and customer expectations, and more. Of great concern are new regulations, with the (currently delayed) Department of Labor’s fiduciary rule taking center stage. Another year of low interest rates is placing pressure on profitability. Finally, insurers have no idea how tax reform, on which Congress was working at press time, might affect life insurance and retirement products that currently are tax advantaged.
Life insurers are facing a new world in which the nature of uncertainty itself is changing. The future is collapsing into the present faster than past data can be used to extrapolate the future. However, we shouldn’t be fearful. InsurTech (insurance technology) is alive with possibilities, so it’s about how we choose to engage with it.
What will the insurance sector be like in 2027? Resource turned to some seasoned executives for answers. Here’s what they had to say.
Video recording of the presentation given by Hank at the 15th Annual AHOU Conference in Orlando, FL.
Nearly three-fourths (70 percent) of life insurance underwriters expect the number and severity of epidemics and pandemics to increase over the next 5 to 10 years, according to new research.