-
Sector Analysis
Israel Statutory and Private Employee Benefits (including Social Security) – Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Benefits, 2022 Update
Israel has a well-established social security system that provides a series of means-tested benefits and grants to people who require financial assistance. The system encompasses income-transfer programs administered by the National Insurance Institute and other government ministries that provide a safeguard for persons and their dependents with inadequate sources of income, or those facing unforeseen expenses. Programs are intended to reduce poverty, provide citizens with an acceptable standard of living, and support children and the unemployed. The National Insurance covers...
-
Thematic Analysis
Brexit in Insurance – Thematic Research
This report explores what the UK’s withdrawal from the EU means to insurers. It explores how in the midst of political uncertainty, some insurers prepared for a no-deal scenario. The report discusses regulatory changes brought about by the end of the transition period, as well as drivers that could play a role in the future at a time when the relationship between the UK and the EU is still not fully understood. The report also reviews the insurance lines that...
-
Government & Regulation
Employee Benefits in Czech Republic, 2020 Update
The Czech Republic has a well-developed social security system, and employers, employees, and self-employed persons contribute to social security schemes. The Czech social security system is built on three pillars: compulsory social insurance, state social support system, and social assistance. Compulsory social insurance covers pension insurance, health insurance, and the national employment policy system. The non-contributory state social support system supports families with dependent children. The final pillar, tax-financed social assistance provides benefits to persons with disabilities, and assistance to...
-
Sector Analysis
UK Protection Insurance 2018: Term and Whole of Life
The UK life protection insurance market for regular individual premiums grew in 2017, driven by growth of the term assurance market despite the whole-of-life market declining. Term market growth was primarily due to increased sales of non-mortgage term assurance policies by independent financial advisors, although sales in the direct channel are also increasing, reflecting demand to purchase life insurance online. Underwritten whole-of-life policies continue to be sold by independent advisors, while guaranteed acceptance over-50s products are sold direct without advice....
-
Government & Regulation
UK SME Adoption of Employee Benefits 2017
"UK SME Adoption of Employee Benefits 2017", report highlights the opportunities in offering employee benefits by sizing the number of SMEs in the UK. It discusses the penetration of employee benefits among SMEs and factors affecting this, such as pension auto-enrolment. It explores how employee benefits are purchased, which are the top insurers, and the importance of offering benefits in attracting and retaining employees. The report explores the provision of 10 employee benefits among UK SMEs across pensions, protection insurance,...
-
Government & Regulation
Employee Benefits in Australia 2017
Australia has one of the most developed and well-established welfare systems. In order to ensure decent living conditions for its citizens, the Australian government operates various welfare schemes. The main outgoing expenditures of the Australian government include income support payments and the payment of expenditures to families, including retirement benefits and other pensions. The Australian pension system is divided into three pillars: the first is funded through general taxation revenue with a flat rate benefit regardless of the individual’s previous...
-
Government & Regulation
Employee Benefits in Australia 2019
The report provides in-depth industry analysis, information and insights of the employee benefits in Australia, including: overview of the state and compulsory benefits in Australia, detailed information about the private benefits in Australia, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Australia. Australia has one of the most developed and well-established welfare systems. In order to ensure decent living conditions for its citizens,...
-
Sector Analysis
UK IFAs and their Clients; Identifying the IFA client base and how it can be grown.
Looking forward, growing affluence and an aging population will increase the amount of those seeking advice and bring more potential customers to the IFA target pool. Older clients, particularly those approaching and in retirement, form the current core group of advisor customers. The typical UK IFA client is an older male investor, reflecting the fact that older men tend to be the most affluent demographic group. Consumers who choose professional advice do so in order to receive strategic advice and...
-
Analyst Opinions
Australian Advisors and their Clients
Independent financial advisors (IFAs) still rank as the leading outlet for Australians receiving advice with a 34% share of the market. The growing popularity of self-managed superannuation funds has supported the renewed growth in the number of Australians with ongoing financial advice. Growing affluence and an aging population have supported the growth of advisors’ client base. Older affluent men remain the largest demographic among advisors’ client bases, with all other demographics having lower penetration despite a greater willingness to seek...
-
Sector Analysis
Targeting the Over-50s with General Insurance
The UK’s over-50s population is growing, which means that the customer segment is a growing opportunity for insurance providers. Those over 50 are often treated and targeted as one segment. However, the over-50s market is highly diverse and should not be treated singularly. Individuals’ lifestyles differ due to a number of factors such as whether they are retired, whether they still have dependent children living at home, their health, and their financial freedom. Acknowledging this should encourage a move away...