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First quarter mortality in 2022 below pre pandemic levels

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor.
Posted on Wednesday Apr 13

When the cap does not fit

Three in five adults think it is unfair that cash spent on ‘daily living’ won’t count towards the planned £86,000 cap on the costs individuals will need to pay before starting to receive taxpayer support, new research from retirement specialist Just Group reveals.
Posted on Thursday Mar 31

CMI Model shows small drop in cohort life expectancy

The Continuous Mortality Investigation (CMI) has released the latest annual update to the CMI Mortality Projections Model, CMI_2021.
Standardised mortality rates in England & Wales in 2021 were on average 5% lower than in 2020. However, both years had significantly higher mortality than before the coronavirus pandemic. Mortality in 2021 was 8% higher than in 2019, and mortality in 2020 was 14% higher than in 2019.

Posted on Wednesday Mar 9

Actuaries at a loss on COVID impact on life expectancies

Based on the information provided by the CMI to date around the proposed changes to the projections model (expected today), Isio has the following comment.
Posted on Wednesday Mar 9

Mortality low despite over ten thousand COVID deaths in 2022

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. Today’s update covers week 8 of 2022 (19 to 25 February), based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 8 March 2022.
Posted on Tuesday Mar 8

42 percent of women look to family for financial advice

Men are much more likely to go to money advice websites or financial advisers. Financial advisers most often used for retirement planning. Men much more likely to seek support with wealth and inheritance planning than women. Women are much more likely to look to their family for financial advice compared to any other source such as seeking professional financial advice or looking to government websites.
Posted on Tuesday Mar 8

Life insurers under pressure to adopt automation technology

In its 2021 EMEA-wide Life Financial Modelling Survey, WTW reveals that many life insurers are under significant pressure from regulators and management to improve their financial reporting, exacerbated by key barriers to adopting cloud technologies capable of transforming their modelling capabilities.
Posted on Thursday Feb 24

Mortality close to pre pandemic level

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor.
Posted on Wednesday Feb 9

Two fifths of homeowners are not taking out Life Insurance

New research by MoneySuperMarket finds that despite 75% of Brits committing to live healthier life styles in 2022, two fifths (40%) of homeowners are failing to protect their financial well-being by not taking out life insurance due to commonly held misunderstandings and concerns about affordability.
Posted on Tuesday Jan 25

Life insurers adapt pandemic risk models after claims jump

A coronavirus pandemic which lasts five years, another pandemic in a decade, and ever more transmissible variants are among the scenarios life insurers are predicting after COVID-19 claims jumped more than expected in 2021.
Posted on Thursday Jan 13

Rise in death rates during 2020-21 worst since World War II

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor.
Posted on Wednesday Jan 12

Life and Pensions outlook for 2022

Martina Neary, UK Head of Life & Pensions at EY, comments: “Insurers covering life and pensions lines are heading into 2022 with a reasonable level of optimism, having largely emerged from the pandemic in good shape. Premiums have held up well and there have even been take-up spikes in protection policies during the lockdowns.
Posted on Tuesday Dec 14

MetLife UK and YuLife join forces in Group Life partnership

Leading insurer MetLife UK and tech-driven insurance company, YuLife, have announced an exciting new partnership which sees MetLife become an underwriter for YuLife’s Group Life cover policies. The partnership reflects the two companies’ aligned values and shared interest in improving the ongoing value of life insurance policies for customers.
Posted on Monday Dec 13

Fall in Lasting Power of Attorney registrations

Following an FOI request by Canada Life, the Ministry of Justice has confirmed there has been a 26.5% reduction in the number of lasting power of attorneys (LPAs) registered in the 2020/21 tax year compared to the previous year. In total, 636,628 registrations were completed, split between 282,883 health and welfare and 353,745 property and finance LPAs.
Posted on Monday Nov 29

Third of employees worked whilst unwell in last 18 months

Research from Canada Life reveals that over a third (35%) of UK adults have continued to work while feeling unwell in the past 18 months, highlighting the significant impact the pandemic is continuing to have on our working lives and habits. This figure rises to almost half (46%) among those aged 18-34.
Posted on Thursday Nov 25

Four months of excess mortality

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. Today’s updates cover week 44 of 2021 (30 October to 5 November), based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 16 November 2021.
Posted on Tuesday Nov 16

Why inflexible 25 year policies make no sense

Aside from life insurance, there is no other insurance product that keeps consumers tied in for 25 years, with little to no flex to their policy. Phil Zeidler, co-founder of DeadHappy, argues that this outdated approach is leading to consumers hugely overpaying for insurance policies – to the tune of £1.2bn per year - that aren’t even fit for purpose.
Posted on Tuesday Oct 19

Sustained excess mortality during third quarter of 2021

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. The updates cover week 39 of 2021 (25 September to 1 October) and the third quarter of 2021, based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 12 October 2021.
Posted on Wednesday Oct 13

Latest life expectancy figures and pension survey from ONS

The ONS have released the latest national life tables, exploring life expectancies in the UK using data for the period 2018 to 2020 – the first national life tables to include data from during the COVID-19 pandemic. they have also published their latest Financial Survey of Pension Schemes.
Posted on Thursday Sep 23

The top five myths debunked on Covid and Life Insurance

Dominic Holton, COO at DeadHappy, says: “With the pandemic having a substantial effect on people’s health, consumers are concerned and rightly so. It’s a new situation for everyone and so, with that, comes lots of questions around the impact this has on their insurance.”
Posted on Friday Sep 10

CMI notes a return of excess deaths in recent weeks

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. The update covers week 30 of 2021 (24 to 30 July), based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 10 August 2021.
Posted on Wednesday Aug 11

Insurers should know support before diagnosis is important

RedArc is encouraging insurers to remember that support is available before a condition has been confirmed, or is eligible for a claim, so that their clients and policyholders can benefit from support and reassurance whilst they wait for tests, test results and follow-on appointments.
Posted on Tuesday Aug 10

Life survey shows a new legacy towards Health and Wellbeing

A new global study1 by HSBC Life – the HSBC Group’s insurance business – shows that a health legacy is emerging as people look forward to a life beyond the pandemic.
Posted on Tuesday Jul 27

Mortality rates at record low during second quarter of 2021

During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. This update covers week 26 of 2021 (26 June to 2 July) and the second quarter of 2021, based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 13 July 2021.
Posted on Wednesday Jul 14

Actuarial Reporting Automation survey

Global life and property and casualty (P&C) insurers want to improve the efficiency and auditability of their processes and close the gap between their current use of automation and where they aspire to be in five years. These key learnings stem from a new survey by Willis Towers Watson. The Actuarial Reporting Automation survey queried life and P&C insurers on how they use automation today in their valuation (life) and reserving (P&C) processes and where they aspire to use it in the future.
Posted on Tuesday Jul 13

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