- 10 Trends That Will Shape Insurance in 2021
It’s good to remember just how unpredictable our world really is
2021 will surely deliver plenty of surprises but 10 trends—including ‘growth of the giants’, a race to green, the switch to usage-based cover, and Bitcoin as a new asset class—look set to have a big impact on the insurance industry in the year ahead.
read more - When Health Suffers, Finances Go On Life Support
As COVID-19 concerns continue to mount, Americans face greater risk of suffering from high medical debt
Even adults who do not contract COVID-19 are facing a healthcare crisis. A Debt.com survey of more than 1,000 American adults reveals 56 percent of respondents had medical debt sent to collections and nearly two-thirds owed under $5,000, while 5 percent owed over $50,000.
read more - How Technology Empowered Life Insurers to Respond to COVID-19
Adapting in order to remain relevant to today's consumers
COVID-19 has changed the world in so many ways. The way we work and interact with each other has changed dramatically. It also changed the life insurance industry. Because of social distancing, companies had to adjust their day-to-day operations to continue to serve their current and potential customers.
read more - 2021 Trends to Watch Include: Virtual Care, Mental Health, Health Equity
Pandemic has accelerated dramatic changes
The pandemic has accelerated dramatic changes in health care and well-being in 2020 and will continue to do so in 2021, said Ellen Kelsay, president and CEO of Business Group on Health, the premier non-profit organization representing large employers’ perspectives on health, well-being and workforce strategy issues.
read more - 2021: From Disruption To Opportunity
The future of insurance has arrived ahead of schedule
by Denise Garth
The future of insurance has arrived ahead of schedule by Denise Garth Ms. Garth is senior vice-president of marketing for Majesco, industry consultants with over two decades of experience in providing technology solutions, products and services for the insurance industry across lines of business – Life, Annuity, Health, Pensions, P&C and Group & Worksite Benefits…
read more - Investing In The Health And Innovation of Aging
Two thought leaders in the longevity economy and life sciences partner for a series of events focused on people ages 50+
Mary Furlong and Associates, a leading authority and conference producer in the $8.3 trillion longevity economy, announces a partnership with Life Science Nation (LSN) to collaborate on four global health and innovation events in 2021 to accelerate the funding of early stage companies that address life sciences and aging. The conference reaches an influential audience…
read more - Long Term Care Product Continues Poor Performance
Keeps pressure on U.S. life insurers
Loss ratios in the beleaguered U.S. long-term care (LTC) insurance market continue to climb for individual and group business, according to a new AM Best report.
read more - Medicaid’s Critical Role in Providing Long-Term Care Coverage for Older Americans
Measuring the unpredictable and potentially catastrophic costs for retirees
With healthcare and long-term care costs rising at much higher rates than wages or salaries, it is becoming more difficult for Americans to afford the costs of long- term care. These unpredictable costs, combined with low levels of savings, mean many older American families find themselves forced to spend down their assets so they are…
read more - New York Life Acquires Cigna’s Group Life and Disability Insurance Business
Adding approximately 3,000 employees, over nine million customers, and enhancing New York Life’s portfolio of strategic businesses
New York Life, America's largest mutual life insurer (1), today announced the completion of the company’s acquisition of Cigna’s group life, accident, and disability insurance business. The $6.3 billion acquisition, which was first announced on December 18, 2019, adds approximately 3,000 employees, over nine million customers (2), and enhances New York Life’s portfolio of strategic…
read more - Global Life Insurance Market to 2023
A comprehensive overview, including the impact assessment of pandemic
The "Global Life Insurance Market to 2023" report has been added to ResearchAndMarkets.com's offering. The report provides in-depth market analysis, information, and insights into the global and regional life insurance industry. This report provides a detailed outlook of the Global Life Insurance industry. It provides values for key performance indicators such as written premium and…
read more - Alliance Group Launches 4th Annual Living Benefits Awareness Month
To propagate the various options policy holders have within their life insurance
Alliance Group announced the 2021 class of Living Benefits Ambassadors team as part of their fourth annual Living Benefits Awareness Month campaign. The Ambassadors will head up local grassroots campaigns to spread education and awareness for Living Benefits Awareness Month in January 2021.
read more - Planning Takes A New Center Stage
Now, more people are developing estate plans, though large percentage remain without a will
The global focus on COVID-19 over the past year has caused people to evaluate aspects of financial security that they may have previously put off — most importantly, creating a will and an estate plan.
read more - With Slow Health Benefit Cost Growth in 2020, Employers Plan to Invest in More Support for Employees
For self-funded plans, as utilization falls, so do expenses
Total health benefit cost rose 3.4% on average in 2020 (Fig. 1), reaching $13,674 per employee among all US employer health plan sponsors with 50 or more employees, according to the annual Mercer National Survey of Employer-Sponsored Health Plans 2020.
read more
