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Archive of industry news from the global life insurance industry

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September 2016

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Finalists for Life Insurance International’s Innovation Awards named
30 September 2016 The prestigious finalists for Life Insurance International's (LII) Innovation Awards 2016 have been named. The winners will be announced at the Life Insurance International Innovation Awards on 17th November 2016.

ABI DG: ‘bright future for UK insurance if Brexit is handled right’
30 September 2016 The Association of British Insurers (ABI) has out five priorities to ‘make the best of Brexit’.

LIMRA: More millennials own life insurance
29 September 2016 Millennials’ ownership of individual life insurance has increased 48% since 2010, according to LIMRA’s 2016 Household Trends in Life Insurance Ownership Study.

Phoenix Life Holdings to acquire Deutsche Bank’s Abbey Life business
29 September 2016 Deutsche bank has announced the sale of UK life insurer Abbey Life to Phoenix Life Holdings for £935m (€1.09bn).

Vitality’s Apple watch partnership means ‘points make prizes’
28 September 2016 Vitality has partnered with technology giant Apple and online grocer Ocado in deals that enable Vitality members to be rewarded for buying healthy food and staying active.

Ian McKenna joins HMT pension dashboard steering group
28 September 2016 UK-based Finance & Technology Research Centre (F&TRC) director, Ian McKenna, has been appointed by HM Treasury to the senior level steering group for the Pensions Dashboard prototype project.

Self-defence 'shooting insurance' gains popularity in the US
27 September 2016 Insurance programmes that defend gun owners if they shoot someone in self-defence – known as ‘shooting -people’ insurance – is reportedly a growing product line in the US

Columbia Threadneedle Investments boosts insurance team
26 September 2016 Columbia Threadneedle Investments has appointed John Hampton to the role of senior investment grade insurance portfolio manager.

Allianz Worldwide Care launches emotive YouTube expat advertising campaign
26 September 2016 Health insurer Allianz Worldwide Care has launched a global YouTube advertising 'things you can't leave behind' expat campaign’ featuring the relationship between a little boy and his dog.

UK mobile-centric InsurTech provider in talks with Asian life insurer
23 September 2016 UK mobile-centric InsurTech provider, Inzura, has begun discussions with a major Asia-headquartered life insurer about its digital insurance platform, Life Insurance International can reveal.

Ladder – the US D2C life InsurTech startup – prepares to launch
23 September 2016 California-based life insurance technology startup, Ladder, has begun actively marketing its direct-to-consumer (D2C) platform in preparation for its launch.

IUA member companies learn how to respond to the blockchain opportunity
23 September 2016 Data and transformation consultancy, LMMC Partners, has provided insight to International Underwriting Association (IUA) member companies on the application, development and opportunity for blockchain technology.

AIA Korea and SK C&C to develop digital health platform in Korea
22 September 2016 AIA Korea and SK Holdings C&C have signed a memorandum of understanding to develop a digital health and wellness platform in Korea.

UK’s FCA publishes broadly positive feedback on Big Data in insurance
22 September 2016 The UK’s Financial Conduct Authority (FCA) has published a feedback statement following its call for input on big data in retail general insurance.

P2P insurer Lemonade launches - promising ‘perfect insurance’
21 September 2016 New York-headquartered Lemonade, the world's first peer-to-peer (P2P) insurance company, has launched – saying it’s time to change insurance forever.

Significant growth predicted for life insurance website aggregators
21 September 2016 A senior figure at UK life insurance price comparison website, comparecover.com, has forecast significant growth for life insurance aggregators with the impact of the UK’s Retail Distribution Review (RDR ) and falling adviser numbers.

Insurance Europe calls for swift deal on EU/US bilateral (re)insurance negotiations
21 September 2016 Insurance Europe has reaffirmed its support for a swift conclusion to negotiations that aim to ensure national uniform treatment of all European (re)insurers placing business in the US.

RedArc reminds insurers to recognise carers’ needs
20 September 2016 The ‘forgotten community’ of carers is at risk of being forgotten under traditional healthcare and protection policies, according to RedArc, a Punter Southall company.

Etienne Bouas-Laurent to expand AXA life business in Asia
19 September 2016 Etienne Bouas-Laurent has been appointed CEO of life and savings and distribution of AXA Asia.

Prudential Singapore’s community programme offers financial assistance to low-income families
16 September 2016 To commemorate its 85th anniversary, Prudential Singapore has announced plans to offer financial assistance to low-income families in Singapore to help tide them through health and personal crises.

Fitch: Brexit Solvency II review likely to focus on annuity risk charge
16 September 2016 A UK inquiry into Solvency 2 (S2) and the potential for post-Brexit changes is likely to look closely at capital requirements for annuities and at potential risks for reinsurers if future UK rules are not considered equivalent to S2, Fitch Ratings says.