Thematic Intelligence: Life Insurance Sector Scorecard 2024

This report provides analysis and scoring on the leading life insurers across the 10 themes we believe will define the future of the industry. We score insurers based on how proactive they are in each theme as well as their ability to adapt to key transformations in the coming years.

The life insurance industry is evolving as key technology and macroeconomic trends make their impact on the industry. An increase in the availability of consumer data has led to a rise in personalized products; technologies such as artificial intelligence (AI) and big data analytics are central to harnessing data to create the best possible outcomes. More ambitious case studies will see AI used to identify patterns of behavior leading to claims and even offer suggestions on how to improve.

Scope

• AI is the leading theme across the insurance industry at present. It has vast implications for insurance due to its ability to slash admin time and costs, improve user experience, and boost underwriting efficiency.
• Unsurprisingly, wellbeing-both physical and mental-is a key trend within life insurance. The healthier people and employees are mentally and physically, the less likely they are to submit claims.
• Wellbeing overlaps with the personalization theme, as insurers can tailor life and health policies to help people through specific mental and physical challenges. For example, we have seen a rise in mental health advice services and coaching apps, while tailored reward programs around health and fitness goals are now embedded into some life and health insurance policies.

Reasons to Buy

• Benchmark yourself against the rest of the market.
• Discover market leaders across 10 themes that are essential in the life insurance industry.
• Discover what the 10 key themes are and understand why we believe them to be so crucial.