60% of individuals aged 65 or older have not sought professional financial advice to prepare for retirement or to transfer their wealth. Three-in-four consumers are interested in innovative life insurance offerings to help them age well, but insurers lack the product development capabilities Posted on Thursday Oct 19
New report highlights the cost-savings generated by mutuals and not-for-profits in the UK. Cost savings for the NHS, welfare state, employers and individuals amount to nearly £1 billion in direct and indirect savings. Posted on Monday Oct 16
• A study by Forbes Advisor shows that nearly one in 10 (9%) people with private life insurance chose their policy after hearing about it on social media Posted on Wednesday Jul 12
In light of the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. Posted on Wednesday Jul 12
Research reveals health insurance is a key driver for over half (57%) of people when choosing a job. ABI calls on employers to inform staff about the health and wellbeing support available to them on day one of a new job and annually. Posted on Tuesday Jun 27
Improvements in life expectancy have slowed over the last decade after a steep increase in the late twentieth century. Longevity gains over the next 20 years likely to come from further medical breakthroughs, especially for cancer and ageing-related conditions such as Alzheimer's disease. Life expectancy growth in advanced markets under threat from obesity and unequal access to health services, with violent crime and the opioid crisis in the US weighing on longevity. Longevity champions Japan and Switzerland characterised by excellent access to healthcare systems and low obesity rates. Posted on Monday May 22
Beagle Street research assesses level of mortgage debt not covered by life insurance, the major potential threat to surviving householders’ hearth and home Posted on Friday May 5
In light of the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. Today’s updates cover week 13 of 2023 (to 31 March) and the first quarter of 2023, based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 13 April 2023. Posted on Friday Apr 14
Ron Wheatcroft, Technical Manager at Swiss Re, advocates for the UK Government to push through changes in three key areas – fewer tax charges on life assurance policies, occupational health initiatives to help people stay in the workplace and P11D charges on Employee Assistance Programmes (EAPs). Posted on Tuesday Mar 14
The CMI has issued its consultation to help shape the next version of its mortality projection model, which is used by the majority of pension scheme trustees and sponsors in setting their funding and accounting assumptions. Posted on Wednesday Feb 1
As the life insurance sector races to catch up with the wider industry on the path to technological integration, the digital underwriter will have a crucial role to play. And in the coming months, embracing a digital-first mindset should come to mean simultaneously embracing the potential of the digital underwriter. Posted on Thursday Jan 12
The Office for National Statistics has published death registration data for England and Wales for Week 52 of 2022(1). This takes the number of deaths registered in the year to 576,896; this is lower than in 2020 or 2021 but is otherwise the highest since 1993 (subject to the publication of data for 31 December 2022). Posted on Tuesday Jan 10
Life insurers expect to see a significant uptick in market activity next year. Tech driven transformation a key focus for actuarial science. New legislation and a new funding code likely to take effect for triennial valuations starting later in 2023 Posted on Monday Dec 19
Non-life premium income forecast to grow 4.1% this year, but slow significantly to 1.5% in 2023. Life premiums forecast to rise to 5% this year, but contract 1% in 2023 due to inflation and economic uncertainty, before growth rebounds to 8.8% in 2024 Posted on Thursday Oct 27
The fourth Age of Ambiguity report from Aviva, delves into ideas on the changing relationships between work and home life and the implications for how we relate to our jobs, communities and ourselves. Set against the backdrop of a deepening economic and cost-of-living crisis, the research examines shifting thoughts towards employment, money, wellbeing, mental and physical health and the impact these have on our lives. Posted on Wednesday Oct 19
During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. Posted on Wednesday Oct 12
The Continuous Mortality Investigation (CMI) has found that mortality experience for equity release mortgage (ERM) holders is at a similar level to annuitants but considerably lower than the general population for both males and females. It is likely that ERM holders have a similar socio-economic profile to annuitants leading to lower average mortality but the data was not available for this research to confirm this. Posted on Monday Oct 10
78% of 18-34 year-olds feel supported compared to 61% for those aged 55 and over. A third (35%) say they have either left a previous role or are considering doing so because of how they were treated by their employer. Most wanted benefits include, above industry average salaries / bonuses, private medical cover and discretionary bonuses Posted on Thursday Jul 21
Insurers and reinsurers currently believe that, on average, the impact of Covid on future mortality improvements will affect life expectancy by less than 1%. That’s according to the latest survey from the Continuous Mortality Investigation (CMI). The CMI’s annual benchmarking survey looks at how insurers and reinsurers use the CMI Mortality Projections Model to make projections of future mortality. Posted on Thursday Jun 30
More than two in five (42%) funeral plans and life policies don’t offer enough to cover a basic cremation (£3,290). Among all adults aged 50+, 68% remain without any life cover, instead opting to leverage the value of their estate (33%) or dig into savings (29%) to cover funeral costs. There will be significant amount of change within funeral funding sector when the FCA regulation comes into place in July 2022 Posted on Friday Jun 17
New research reveals discontent over the divide of household bills as just over three-fifths of couples (62%) don’t share costs out evenly. Posted on Wednesday Jun 1
Individual protection insurance sales in the UK rose by 6.3% in 2021 as the market rebounded from a tough 2020, according to Swiss Re’s latest Term & Health Watch report. Posted on Monday May 30
Official figures reveal scale of life expectancy gains for retirees since 1952. Every eight days of Her Majesty The Queen’s reign, male life expectancy at age 65 has risen by one day. And female life expectancy has risen by a day for every nine days The Queen has ruled Posted on Monday May 30
During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. Posted on Wednesday Apr 13
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
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