Leveraging publicly available information and the insights of a variety of in-house specialists, including those that helped create the original US Centers for Disease Control and Prevention (CDC) pandemic response protocols, Oliver Wyman has prepared some actuarial considerations to assist insurers assessing COVID-19’s potential impact to their business. Oliver Wyman is an a ... Continue Reading »
life insurance
Navigating the Insurtech Market
Innovation has been a priority for many Life, Accident and Health insurance carriers. The need for innovation is driven by consumers demanding a more customer-centric experience. According to a 2019 study by J.D. Power (1), the overall customer satisfaction for providers of annuity products and life insurance providers is lower compared to most other insurance and financial ... Continue Reading »
Payers’ Moment of Truth is Here
With COVID-19 now officially a pandemic, the first step healthcare payers (and all employers) must take is trifold: ensure business resiliency, establish a crisis response structure, and secure employee safety. Payers will specifically be called on to continue leading the way in supporting the greater public health response, according to Chris Bernene, Partner in Health & ... Continue Reading »
It’s Not the Best Time to Get Pandemic Risk Insurance. Here’s Why
The most timely opportunity to take action on pandemic risk insurance is not necessarily when a new virus is making international headlines. ... Continue Reading »
Global Risks Report 2020: The Slowing of Health Progress
Following over half a century of rapid improvements to medicine, public hygiene and healthcare infrastructure, progress is beginning to decelerate and lifespan disparities based on geography and socioeconomic status are growing. The 15th edition of the World Economic Forum’s Global Risks Report, created in partnership with Marsh & McLennan and Zurich Insurance Group, e ... Continue Reading »
Modeling Insights
Here we review recent GC Capital Ideas posts covering insights on modeling. ... Continue Reading »
A Dynamic Approach to Managing Life Reinsurance Arrangements
The traditional life reinsurance model typically involves perpetual treaties linked to an underlying product. In order to create alignment between the contracting parties, the treaty would follow the underlying terms of the product. However, the treaty structure may concurrently include provisions that reduce alignment between the insurer and reinsurer, to the insurer’s d ... Continue Reading »
Volatility Management within the New Life Reinsurance Paradigm – GC@MC Commentary
Life insurers typically purchase reinsurance covers to achieve four main goals – capital management, catastrophe protection, volatility mitigation and product support. In some instances, each of the solutions are separately decisioned and purchased, but frequently may be combined into one reinsurance program. In today’s environment, an analysis that challenges the usual life rei ... Continue Reading »
Life Insurance Insights
Here we review recent stories on GC Capital Ideas that provide insights on the new paradigm around life reinsurance. A Dynamic Approach to Managing Life Reinsurance Arrangements: The traditional life reinsurance model typically involves perpetual treaties linked to an underlying product. In order to create alignment between the contracting parties, the treaty would follow ... Continue Reading »
Funding Longevity Risks in Captives
Global life insurance and reinsurance companies continue to look for innovative solutions to the longevity risks in their portfolios - life insurance, annuities and long-term disability programs. Further, pension fund trustees are looking for financially efficient methods of managing the longevity exposure in their pension portfolios. With greater life expectancies in much of ... Continue Reading »
