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Company Insights
Aon – Digital Transformation Strategies
Aon has been focusing on using artificial intelligence, machine learning and data analytics to digitally transform its operations. The annual ICT spending of Aon was estimated at $573.5 million for 2021. A major share of this spending is earmarked for acquiring hardware, ICT services and consulting services from vendors. Aon is a provider of professional services. The company, through its subsidiaries, offers a range of commercial risk solutions, reinsurance solutions, retirement solutions, health solutions, and data and analytic services. The...
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Consumer Insights
How Customers Purchase Income Protection Insurance?
Income protection offers long-term cover if an individual is unable to work due to injury, illness, or redundancy. The policy typically pays out until the client returns to work, retires, or dies. In Q3 2021, there was an increase in new business premiums and contracts as people sought to buy protection policies amid the COVID-19 crisis. This situation made customers think more about unprecedented events and the financial implications they may have in the future. At a time when COVID-19...
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Consumer Insights
How Customers Purchase Critical Illness Insurance?
Critical Illness Insurance (CII) Market Report Overview Critical illness insurance (CII) cover provides a tax-free lump sum upon diagnosis of critical illness conditions. The CII covers consumption and clinical tabs during the range of the treatment. The critical/serious conditions are packaged with other life items, for example, term protection, which is alluded to similarly as with rider. The critical illness insurance market report explores how purchasing preferences have changed over time. It discovers what is most influential to customers when...
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Company Insights
China Life Insurance Company – Digital Transformation Strategies
China Life Insurance Company (China Life) has been focusing on using artificial intelligence, big data and Internet of Things (IoT) to digitally transform its operations. The annual ICT spending of China Life was estimated at $5.8 billion for 2021. A major share of this spending is earmarked for acquiring software, hardware and ICT services from vendors. China Life offers a range of life insurance products. It provides term life insurance, whole life insurance, endowment insurance, universal life insurance, group life...
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Company Insights
Life Insurance Corporation of India 2022 – Digital Transformation Strategies
Life Insurance Corporation of India (LIC) has been focusing on using artificial intelligence & machine learning, mobile technologies and cloud to digitally transform its operations. The annual ICT spending of LIC was estimated at $4.7 billion for 2021. A major share of this spending is earmarked for acquiring software, hardware and consulting services from vendors. LIC is a provider of life insurance plans. The company offers endowment plans, money back plans, term assurance plans, pension plans, unit-linked plans, group schemes,...
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Sector Analysis
Portugal General Insurance – Key Trends and Opportunities to 2025
The Portugal general insurance market size was valued at $6.77 billion in 2021. The market is expected to grow at a CAGR of more than 3% during the forecast period. The Portugal general insurance market report provides in-depth market analysis, information and insights into the Portuguese general insurance segment.
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Sector Analysis
Portugal Life Insurance – Key Trends and Opportunities to 2025
The Portugal life insurance market size was valued at $5.2 billion in 2021. The market is expected to grow at a CAGR of more than 2% during the forecast period. Â The Portugal life insurance market report provides in-depth market analysis, information and insights into the Portuguese life insurance segment. The market is expected to grow at a CAGR of more than 2% during the forecast period. The report provides a detailed outlook by product category for the Portuguese life insurance...
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Sector Analysis
Sweden Life Insurance – Key Trends and Opportunities to 2025
The Sweden life insurance market size was valued at $46.4 billion in 2021. The market is expected to grow at a CAGR of more than 7% during the forecast period. The Sweden life insurance market report provides in-depth market analysis, information and insights into the Swedish life insurance segment.
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Sector Analysis
Sweden General Insurance – Key Trends and Opportunities to 2025
The Sweden general insurance market size was valued at $11.32 billion in 2021. The market is expected to grow at a CAGR of more than 4% during the forecast period. The slowdown in economic development due to the pandemic impacted the Swedish general insurance business. The Sweden general insurance market report provides a detailed outlook by product category for the Sweden general insurance industry. It provides values for key performance indicators such as direct written premium, loss ratio, retail, and...
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Sector Analysis
Sri Lanka Insurance Industry – Key Trends and Opportunities to 2025
The gross written premium of Sri Lanka insurance market was $1.18 billion in 2021. The market is expected to grow at a CAGR of more than 9% during the forecast period. The Sri Lanka insurance market report provides in-depth market analysis, information, insights, and a detailed outlook by product category of the industry. It provides values for key performance indicators such as gross written premium, retail and commercial split, premium accepted and ceded, profitability ratios, and premium by line of...
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Government & Regulation
Employee Benefits in Portugal, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
The Portuguese social security system is based on universality; it ensures that the social protection provided by the system is available for everyone. It consists of the Public Social Security System, the Social Action System, and the Supplementary System. The Public Social Security System has three subsystems called Welfare, Solidarity, and Family Support System. The welfare system is a contributory scheme that protects the employed and the self-employed against the risk of losing a regular income due to sickness, maternity,...
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Government & Regulation
Employee Benefits in Norway, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
The Norwegian employee benefits market is predominantly controlled by the public social security system; however, the growth of labor-intensive industries has fuelled the growth of the country’s private benefits market over the last decade. The public social security system, which is supervised by the Norwegian Labor and Welfare Administration (Arbeids- og velferdsetaten - NAV), plays a significant role in the country’s welfare system and is responsible for providing general social insurance schemes to the citizens of Norway. The main general...
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Sector Analysis
Bhutan Insurance Industry – Key Trends and Opportunities to 2025
The gross written premium of Bhutan insurance market was $48.2 million in 2021. The market is expected to grow at a CAGR of more than 7% during the forecast period. Bhutan has sustained growth due to the development of the hydroelectric sector and the dynamism of the tourism sector. The main source of revenue is the sale of electricity to India. Inflation is expected to remain elevated due to higher prices for food and transportation, and is closely linked to...
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Government & Regulation
Employee Benefits in Lithuania, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
Lithuania inherited a Soviet-style pension system with characteristics such as generous early retirement provisions, privileges for certain occupational groups, and a weak link between contributions and benefits. The economic crisis in the 1990s forced the Lithuanian government to undertake pension system reforms in 1995. The reforms were intended to make changes in the State Social Pension Insurance (first pillar), enhance the stability of the system by eliminating the generous early retirement provisions, and create a strong link between contributions and...
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Sector Analysis
Employee Benefits in Latvia, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
The social security system in Latvia is classified into three categories: state social insurance, social assistance, and the social service system. The state social insurance system covers legislation on social insurance, maternity and sickness insurance, state pensions, mandatory social insurance against accidents, and insurance against unemployment. Social assistance and the social service system are regulated by the Law on State Social Benefits and Law on Social Services and Social Assistance. The Latvian pension system is divided into three pillars: the...
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Sector Analysis
Employee Benefits in Romania, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
Romania has a well-established social security system. To provide its citizens with decent living conditions, the Romanian government provides various social security schemes in close association with private institutions. The Romanian pension system is divided into four pillars - the first is a mandatory public pension system, which functions as a pay-as-you-go (PAYG) system. Privately administered pension fund schemes form the second pillar, while voluntary occupational pension schemes form the third pillar, and a private pension forms the fourth. The...
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Sector Analysis
Employee Benefits in Denmark, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
Denmark is one of the few countries in the world that adjusted well to the challenge of providing an established social security system and a flexible labor market for its citizens. It was one of the first countries to adopt a multi-pillar pension system, comprising a flat-rate residence-based national pension and private occupational pensions based on collective agreements. The first pillar is the state and compulsory pillar, providing universal cover. It consists of two tiers - the first is a...
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Sector Analysis
Employee Benefits in Bulgaria, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
The National Social Security Institute (NSSI) is responsible for managing all the social security schemes in the Republic of Bulgaria. It administers mandatory social security schemes such as sickness, maternity, occupational diseases, workplace accidents, disability, old age, and survivor’s pensions. Irrespective of whether a person is employed, unemployed or self-employed, Bulgarians are covered under certain social security schemes. The report provides in-depth industry analysis, information, and insights of the employee benefits in Bulgaria, including an overview of the state and...
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Sector Analysis
Employee Benefits in Greece, 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
Greece has one of the most developed and comprehensive welfare systems in the world. The Greek government provides various social insurance and assistance schemes including insurance cover for the elderly, disability, sickness, unemployment, and survivors’ pension schemes. However, social assistance schemes are not provided to elderly people and repatriated citizens, who receive other public welfare services. Greek private employers also offer various benefits to employees including mobile phone benefits, gift vouchers, and stock options. The report provides in-depth industry analysis,...
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