Insurance Newsletter – Issue 2
Underwriting AI - Current Insights on Life Insurance Risk
Greetings and welcome to the eagerly awaited second issue of our dedicated life insurance underwriting newsletter. As we delve into the heart of this edition, we are thrilled to present an exploration of the transformative forces driving our industry forward: AI, innovation, and machine learning. This issue encapsulates the very essence of the evolving landscape, where technology converges seamlessly with the intricacies of life insurance, shaping a future that is both dynamic and promising. Join us as we navigate the cutting-edge advancements that are redefining risk assessment, enhancing customer experiences, and revolutionizing underwriting as we know it.
Aug. 1st, 2023 - Life insurance premiums reversed three straight quarters of declining growth, LIMRA reported, with $4.04 billion in new premiums in the second quarter, a 2% increase. Even better, preliminary results from LIMRA’s U.S. Retail Individual Life Insurance Sales surveys and estimates also show an increase in policies sold.
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July 28th, 2023 - Although nearly half of Generation Z and millennials say they need life insurance, many have not purchased a policy. During a recent LIMRA LinkedIn Live event, experts discussed 5 reasons the younger generation isn’t buying life insurance and how financial professionals can address these issues.
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Aug. 16th, 2023 - Sapiens CoreSuite for Life and Pensions coupled with Sapiens Intelligence, hosted by Sapiens Cloud Services will support Aktia’s ambitions to expand its life insurance business. Aktia Life, one of Finland’s top life insurers with approximately 100,000 customers, has chosen Sapiens International Corporation (Holon, Israel) as its partner to lead its core system transformation via Sapiens CoreSuite for Life and Pensions.
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LONDON, Aug 16 (Reuters) - Monument Re, a buyer of European life insurance portfolios, is exploring strategic options after reporting a drop in its capital ratios last year, people familiar with the matter told Reuters. Citigroup (C.N) and Fenchurch Advisory are working with the company and its owners on the options, which include a possible sale, said the people, who declined to be named because the discussions are private.
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