2014-01-27 18:49:02 - 2020 Foresight Report: Trends in Life Insurance Underwriting - a new market research report on companiesandmarkets.com
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.
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.
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