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2020 Foresight Report: Trends in Life Insurance Underwriting - Product Image

2020 Foresight Report: Trends in Life Insurance Underwriting

  • Published: August 2013
  • Region: Global
  • 47 Pages
  • Timetric
An increased adoption of technology is apparent in life insurance underwriting.

FEATURED COMPANIES

  • Bharti AXA Life Insurance
  • Lincoln Financial Group
  • Manulife Financial Corp.
  • Truven Health Analytics
  • MORE

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

Summary

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 READ MORE >

1 Executive Summary

2 Global Snapshot: Assessment of Life Underwriting Market Dynamics
2.1 Underwriting Profits and Loss Trends
2.1.1 Developed economies
2.1.2 Emerging economies
2.2 Analysis of Key Ratios Impacting Underwriting
2.2.1 Developed economies
2.2.2 Emerging economies

3 The Effect of Regulation on Life Insurance Underwriting
3.1 Impact on Life Insurance Product Offering
3.2 Impact on Key Functional and Operational Elements
3.3 Impact on Investment Strategy by Asset Class
3.3.1 Equities
3.3.2 Property
3.3.3 Bonds
3.3.4 Alternative assets
3.3.5 Derivatives
3.4 EU Ruling on Gender-Neutral Insurance to Impact Underwriting

4 Market Dynamics Related to Economic and Market Risk
4.1 Economic Risk on Life Insurance Underwriting
4.1.1 Developed economies
4.1.2 Emerging economies
4.2 Market Risk on Life Insurance Underwriting
4.2.1 Developed economies
4.2.2 Emerging economies

5 Technological Trends in Underwriting
5.1 Creating a Customer Profile
5.2 Automation
5.2.1 Case Study: Bharti Axa's use of CRM software for efficient claims handling
5.3 Social Media
5.3.1 Social media and underwriting
5.3.2 Case Study: Manulife used social media which resulted in improving underwriting risks
5.3.3 Case Study: Rigi Capital Partners used social media to reduce underwriting risk
5.4 Big Data
5.4.1 Underwriting and premium determination decision
5.4.2 Case Study: Health Care Service Corp.'s use of predictive modeling techniques
5.4.3 Case Study: Westpac Life's use of big data
5.4.4 Case Study: Lincoln Financial Group's use of predictive modeling

6 Appendix
6.1 Methodology
6.2 Contact Timetric
6.3 About Timetric
6.4 Timetric's Services
6.5 Disclaimer

List of Tables

Table 1: Life Insurance - Developed Economies' Underwriting Profitability (US$ Billion), 2008- 2017
Table 2: Life Insurance - Emerging Economies' Underwriting Profitability (US$ Billion), 2008- 2017
Table 3: Impact of Tightening Regulations on Asset Classes
Table 4: Capital Charges for Equity Investment
Table 5: Impact of Gender-Neutral Pricing on Life Insurance Products
Table 6: Gender-Neutral Pricing of Life Insurance Products - Key Action Areas for Insurers
Table 7: Life Insurance - Fraud and Crime in Emerging Economies (US$ Billion), 2008- 2017
Table 8: Life Insurance - Commissions and Expenses in Emerging Economies (US$ Billion), 2008- 2017

List of Figures

Figure 1: Life Insurance in Developed Economies - Loss, Expense and Combined Ratios (%), 2012
Figure 2: Life Insurance in Developed Economies - Incurred Loss (US$ Billion), 2008- 2017
Figure 3: Life Insurance in Developed Economies - Commission and Expenses (US$ Billion), 2008- 2017
Figure 4: Life Insurance in Emerging Economies - Loss, Expense and Combined Ratios (%), 2012
Figure 5: Life Insurance in Emerging Economies - Incurred Loss (US$ Billion), 2008- 2017
Figure 6: Life Insurance in Emerging Economies - Commission and Expenses (US$ Billion), 2008- 2017
Figure 7: Regulatory Trends Affecting Life Insurance Underwriting
Figure 8: Rural Populations as a Percentage of Overall Populations in BRIC Countries, 2008- 2012
Figure 9: Use of Big Data Technology in Life Insurance

- Bharti AXA Life Insurance
- Health Care Service Corporation
- Lincoln Financial Group
- Manulife Financial Corp.
- Talisma Corporation Pvt. Ltd.
- Truven Health Analytics
- Westpac Life New Zealand Ltd.

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