Life Insurance Sector Scorecard - Thematic Research

Life Insurance Sector Scorecard - Thematic Research

Summary

This report provides analysis and scoring on the leading life insurers across the 10 themes we believe will define the future of the industry. We score them based on how proactive they are in each theme and their ability to adapt to key transformations in the theme in the coming years.

The insurance industry has enabled the global economy to develop exponentially in the last two centuries and as a result continues to enable the day-to-day operations of businesses and consumer activity. Technological developments are enabling the industry to become increasingly efficient in their operations and develop new products across life and non-life insurance markets. With customers demanding a more agile and personalized insurance experience, providers must be at the forefront of adoption, or they will be faced with the prospect of a shrinking customer base.

Scope

• COVID-19 is by far the most important theme in the insurance market going into 2022. It has put great strain on economies around the world and will be a key factor in the underwriting process for the majority of products. Even as countries emerged from lockdowns throughout 2021, uncertainty remained, and that will continue into 2022.
• Life insurers have felt this particularly strongly due to a sharp rise in claims and the need to price in increased risk going forward. In the longer term, the pandemic may increase interest in the product as COVID-19 has emphasized the importance of life insurance. Life insurers should be looking towards key themes such as AI and automation to help reduce costs and time while looking to modernize their offerings with personalization, potentially with the help of insurtechs.

• Benchmark yourself against the rest of the market.
• Discover market leaders across 10 essential themes to life insurance.
• Discover what the 10 key themes are and understand why we believe them to be so crucial.