Life insurance news and articles written by acturies for actuaries - read the latest research pieces, today's news and latest articles in the Life insurance market.

Who is Zoomin who

By Tom Murray, Head of Product Strategy for LifePlus Solutions at Majesco.

This has involved using new tools to allow staff to be managed, to collaborate in teams, and to deal with the customer base. For the life and pensions industry, this has got to be the hottest topic of the moment. Sure, technology will allow us to dramatically improve overheads and provide insurance services in a far-more customer focused way than heretofore. But the very nature of our business and the type of information we hold means that data privacy and security have got to remain our number one priority as we embrace our digital future.

Our customers have to give us a lot of personal information, ranging from their health details and family history to their current financial position and future goals. This is the kind of information that is clearly dangerous to lose and could cause huge problems for the organisation that loses it.

The primary issue most companies need to focus on is the security of their distributed networks. With so many people connecting to the network from the outside, the task of authenticating the users has become much harder and the need for multiple levels of authorization complicates the task of having so many external people logging in.

What is new is the scale of the number of staff who are working from external sites, in this case their own homes, who are dealing directly with customers via confere...Read More

The impact of Coronavirus on Life Insurers

The key highlights include:
(1) The impact on insurance claims is expected to be manageable, given the relatively low mortality rate for infected individuals;
(2) The adverse reaction of financial markets to the coronavirus outbreak may affect insurers' profitability, including earnings generated from their investment portfolios; and
(3) Insurers operating in higher-risk countries are seeing some disruption in their day-to-day operations, which will likely have an impact on revenues.

The Coronavirus Disease (COVID-19) outbreak will likely affect life insurers in the following ways:

(1) increased incurred claim costs, including death and disability claims, and drug costs,

(2) adverse movements in the financial markets, includin...Read More

Inheritance: Retirees & their children relying on each other

The study reveals that while one in six (16%) of parents are expecting to be supported financially by their grown up kids when they retire, one in six (17 %) of adult children are relying on inheritance from their parents, causing an inheritance tug of war!
Furthermore, one in ten grown up children are relying on this inheritance so much that they think their parents are blowing too much of it!
SunLife’s research also reveals that as a percentage of income, older people are better off than younger generations; those age 55-70 have less than half (46%) their income allocate...Read More

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Lifestyle Actuary

Amy Sutherland and Raluca Stanescu interview Louise Pryor, who is a sustainability actuary and incoming President Elect of the Institute and Faculty of Actuaries (IFoA). We’ve asked Louise a few questions about her work, and were also keen to find ou...Read More

The Luddite

Sam Richardson looks into the up and coming and the outgoing of the technology and gadgetry world in 2014.

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

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