Live Insurance News

US life insurance has become a “panic buy” due to pandemic

October 16, 2020October 15, 2020 Logan B.

US life insurance - person wearing mask using computer

Experts say that people are buying this coverage out of a fear of death and increased awareness of financial risk. US life insurance is experiencing a considerable rise in popularity due to the coronavirus pandemic. Consumers, young adults in particular, have been purchasing coverage at elevated levels. Since the spring, US life insurance companies have been recording notably higher sales levels than they were at the same time in 2019. The trend has taken off as young adults have seen that thousands of Americans were dying from COVID-19 related illness.…

Life insurance premiums can be calculated using your social media posts

February 7, 2019February 7, 2019 Marc

Provided they are not discriminatory, life insurers can use customers’ posts to decide on pricing. The New York Department of Financial Services (N.Y.F.S.) has released new life insurance premiums calculation guidelines. These will allow insurers to use data collected from their customers’ social media posts to help calculate premiums. These regulations may soon move outside New York and into other states as well. The life insurance premiums guidelines indicate that insurers have the right to obtain and apply data gleaned from “non-traditional” sources as well. That said, if they do…

Life insurance industry growth in Singapore flattens

May 12, 2015May 9, 2015 H. Cutner

The results from the first quarter of this year have shown that the total weighted premiums stumbled by 1 percent. Life Insurance Association Singapore has released its data from the first quarter of 2015 and what it has shown is that the industry has experienced a flattened growth rate at the same time that its total weighted premiums fell by a small 1 percent when compared to the same quarter in 2014. When all was said and done, the total weighted life premiums in Q1 arrived at about US$488.68 million…

Life insurance report reveals key trends to 2018

November 3, 2014November 1, 2014 G. Turner

Research and Markets has now released a new publication that provides insights into opportunities in the Philippines. Analytics firm, Research and Markets, has now added a new report to its offerings which they have entitled “Life Insurance in Philippines, Key Trends and Opportunities to 2018”, providing insight into that location and the opportunities that are opening up there over the next four years. The results of the study showed a number of important trends within this sector of the insurance industry. This life insurance news report showed that in the…

Life insurance industry in India to rise by 15 percent by 2018

September 23, 2013September 21, 2013 G. Turner

Recent estimates have shown that the sector is strong in the country and that it will see steady growth. The latest estimates from the life insurance sector of the industry in India has indicated that there will not only be increases in size over the next five years, but that it will be up to 15 percent compounded annual growth. There are many reasons for this high growth rate, but it is especially credited to two main ones. These two main factors that are sending the life insurance industry upward…

Life insurance industry in Australia feels the economic pinch

June 15, 2013June 12, 2013 G. Turner

Tougher times are beginning to show their mark on this sector as its value drops by over $1 billion. The Australian life insurance industry has been combating the struggles associated with the sluggish economic pace but has still managed to see its value drop by over $1 billion as the impact progresses. Its challenges only grows as it faces difficulties in the claims of larger policy holders. The largest life insurance companies in the Australian industry have reported that within the last year, the profit expectations were missed by a…

Life insurance policies from Hong Kong selling well in China

March 18, 2013April 30, 2013

Mainland Chinese consumers are helping to boost the sale of the coverage through cross border shopping. Visitors from mainland China have been helping to increase the success of the life insurance industry in Hong Kong as they have been buying policies at a rate that is returning the sector nearly to the level that it had reached before the global economic crisis began. New premiums for the policies are helping to boost the appeal of the coverage, leading to considerable recovery. The newly created premiums for life insurance being sold…