Life Insurance Sector Scorecard: Strategic Intelligence

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This report identifies the key themes in the life insurance market at present and ranks leading life insurers based on whether they are leaders or laggards within the theme. 10 themes are chosen and weighted according to their importance. Insurers are ranked based on a range of factors, and it is the decision of our insurance analysts about how well positioned they are in this particular theme for the years ahead.

AI is undoubtedly the leading theme within the insurance industry as a whole. It is also particularly influential within the life and health sector. Specific use cases include diagnostics, where AI tools will be able to identify basic illnesses and problems from customer symptoms.

Scope

Progress and modernization within the industry will rely heavily on the quality of data and analysis that insurers are able to hold and produce. This will start with medical IoT devices such as wearables, how open consumers are to using them and sharing the data with insurers, and the quality of the insights insurers can produce from this wealth of consumer data.

It is especially clear within our scorecard that newer and more modern insurers lead in the key themes. It is very hard for startups to establish themselves within the life sector, but those that have really excel in health and wellness, personalization, and use of AI in particular.

Key Highlights

  • Unsurprisingly, wellbeing—both physical and mental—is a key trend within life insurance. The healthier people and employees are mentally and physically, the less likely they are to submit claims.
  • Wellbeing overlaps with the personalization theme, as insurers can tailor life and health policies to help people through specific mental and physical challenges. For example, we have seen a rise in mental health advice services and coaching apps, while tailored reward programs around health and fitness goals are now embedded into some life and health insurance policies.
  • ESG is the key long-term theme across the insurance industry. It is not specific to life insurers, but insurers will need to make sure they stay on top of ESG targets and establish themselves as leaders. It is ranked slightly lower in this scorecard than in general insurance because life insurers do not face the same claims costs from increasing severe weather events.

Reasons to Buy

Identify the key themes in the life insurance sector.

Understand why they are so important and what impact they are having to date.

Discover the leading insurers within these themes.

Admiral
AIA Allianz
Anorak
Aviva
Axa
Berkshire Hathaway Chubb
Ping An
Prudential
SunLife
Dai-ichi Life
Zurich
Sompo Holdings
Discovery
Bupa
Manulife
Cigna
YuLife
dacadoo
Royal London
Saga
LV=

Table of Contents

Table of Contents

1. Executive Summary

2. Introduction

3. Themes

4. Sector Scorecard: Life Insurance

5. Our Thematic Research Methodology

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