Insurance Newsletter Issue 5 – Latest updates in life insurance and we want your opinion!

Insurance Newsletter – Issue 5

Latest updates in life insurance and we want your opinion!

In this month’s issue, we examine the favorable market conditions influencing the annuity market, the optimistic state of recent life insurance sales metrics, and some of the latest medical advancements influencing the life underwriting industry.


Q3 Individual Life Insurance Premium Tops $3.7B, up 5% – With a majority of carriers reporting higher results in the third quarter, total individual life insurance new annualized premium increased 5% to $3.7 billion year-over-year, according to the preliminary results from LIMRA’s U.S. Retail Individual Life Insurance Sales surveys and estimates. Similarly, 6 in 10 carriers experienced policy sales growth, driving number of policies sold to increase 4% in the third quarter.

Released November 2, 2023:
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Digital-Friendly Life, Annuity Providers Lead in Satisfaction Study – Life insurance and annuity providers using digital technology to interact with customers are receiving higher satisfaction scores, according to the latest reports from J.D. Power. Among both products, customers using digital channels to engage with providers reported increased levels of satisfaction, said Breanne Armstrong, director of insurance intelligence at J.D. Power. Digital tools allow for more frequent interaction with the products and make consumers more likely to incorporate life insurance and annuities into their overall financial plans, she explained.

Released November 6, 2023:
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Healthy Optimism - The Latest Medical Advances – The 20th century was a golden age of medicine, delivering a multitude of advancements in healthcare and related technologies. Lives are now longer and healthier, thanks to innovations ranging from penicillin to insulin – and chemotherapy to statins. However, as the 21st century began, a new pattern emerged. Mortality improvements began to plateau because of modern-day factors such as fast food and sedentary lifestyles, which have started to exhaust past gains and slow the rate improvements. Must all good things come to an end? Not necessarily. 

Released November 2, 2023:
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The Sense of an Ending – In a world where discussions about death are frequently whispered in hushed tones, actuaries are turning up the volume, with some even hosting ‘death prediction parties’ at which guests can place bets on their own life expectancies. From an actuarial perspective, the most significant advantage of breaking the taboo around death is the promotion of end-of-life planning. Emphasizing the financial benefits and peace of mind that come with proper planning can encourage people to address these crucial matters in a proactive manner. 

Released November 2, 2023:
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Sikka is proud to have Lewis Goldman, Insurance Business Leader, interviewed by Hank George in the latest edition of Hot Notes, the largest and most influential magazine for the life underwriting industry. Be sure to check out the article below to find out how Sikka is enhancing the life insurance industry with consent-based dental data.


We're excited to announce that we are partnering with Clareto, a Munich Re company, to offer our 14 oral health indicators through Clareto's EHR+ network. Through this partnership with, Clareto adds oral health data to its expansive suite of EHR, HIE, and other digital health data sources covering >70% of the US population.


We want your Point of View!

As 2023 comes to a close and we look ahead to 2024, we'd like to get your thoughts about underwriting and trends in data and mortality risk. What new data sources are getting you excited? Are you increasing your automated/accelerated underwriting workflow as part of your 2024 roadmap? Will risk scores play a more prominent role?  How about AI?  We'll share the results of this (very) short survey when we're done.