2020 Life Insurance Trends in Europe
2020 Life Insurance Trends in Europe Europe will also play an important role on the world market. The market size will be in millions of dollars in 2019, and is expected to be higher in 2024.
This statistics of the life insurance market deal with the status and prospects of the global and important regions from the point of view of actors, countries, product types and end industries. This report analyses the main players on the world market and divides the life insurance market by product type and application sector.
Check Some Key Providers in the Life Insurance Market
Nippon Life Insurance
American Intl. Group
State Farm Insurance
Dai-ichi Mutual Life Insurance
Munich Re Group
Zurich Financial Services
Asahi Mutual Life Insurance
Sumitomo Life Insurance
Meiji Yasuda Life Insurance Company
Standard Life Assurance
Asian Life Insurance Company
AIA Group Limited
China Life Insurance Company Limited
China Ping An Life Insurance Company Limited
Global challenges for the life insurance market
The increasing demand of customers for online buying and service experiences for insurance companies, the increased expectations of distributors for the business in motion, the increasing competition from new entrants and non-traditional companies, the Balancing maintenance costs and investing in digital technologies, as well as emerging threats such as cybersecurity breaches and the resulting changes in the regulatory landscape, are key areas that support the digital technology in insurance companies.
Life and property and casualty insurers have traditionally been slow to introduce new technologies compared to their retail or banking counterparts. However, we note that insurers are increasingly seeing digital technology as the key to addressing most of the challenges facing the industry today and enabling them to adapt to changing Business.
The wonderful news is that some airlines have already made strategic investments in transformative technologies to remain relevant in the market and remain competitive, while others are cautious.
Life insurance is very difficult to sell. It requires people to think about their deaths without promising immediate returns, and despite technical innovations and the development of various services in other financial areas.
We now have some companies looking for ways to digitise life insurance to appeal to consumers and that are giving incumbents the opportunity to revise traditional offerings by either working with them. cooperation or use their technology.