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Health insurance companies focus on young and low-income consumers

Friday, June 20th, 2014

Global PwC, a leading insurance company said in their report that nowadays young people, and even low-income consumers, do not consider that the life and pension insurance is important to them, or that it is crucial to pay. The digital age allows insurers know more and choose the right health policy directly from the company. This enables companies to increase their market potential.

According to the survey conducted by international health insurance policy consultants revealed that 60 percent of consumers in the survey encouraged to purchase life insurance online. The report also noted that consumers between 18 and 54 years feel attracted by this option. The survey indicates that about 63 percentage of people find it easy to access online method because of 24/7 customer care support and cost-benefit. They can save up to 53% of their cost. These are evident reasons that would influence their decision to acquire an online health insurance.

In addition, those who prefer to buy their health insurance online can also enjoy the convenience and flexibility to communicate, see and compare offers from their insurance agency, in person and online. The year 2017 will dominate a new class of consumers formed by people who have increasing expectations and power: are better informed, connected and communicated. Insurance consultation agencies expected this to happen with the help of social media, mobile, analytics and cloud.

The level of demand varies globally, for example, consumers in the United Kingdom prefer to contact their insurance companies online (43 per cent), compared with only 5 percent of consumers in Mexico. In the United States, 60% of people consult directly with agencies online. However, insurance companies are expected this to grow up to 85% in the United States by the end of 2017.

The report concludes that insurers that remain at the forefront will be those that move constantly in search of new opportunities and act quickly to capitalize on them.


January 12th, 2015

China’s Forsun International Moves into the US Life Insurance Market

Moreover, Robert S. Cubbin, the CEO and President of Meadowbrook reportedly said that the company’s partnership with Forsun adds more strength to its capital base. In addition, the pact will enable the US-based firm insurance company to improve its services and increase profits.

December 19th, 2014

Life Insurance Investable Assets in Asia to Experience Visible Progress in 2015

According to the global analysis reports by Cerulli Associates Asia Pte Ltd., there will be a remarkable growth in the assets of the life insurers in the largest markets of Asia. It has been reported that their investable assets will grow about 15% in the year 2015 and will hit 2.4 trillion USD.

November 1st, 2014

Number of life insurance policies is down, who is to blame

According to some of the more recent pools numbers of life insurance policy holders have gone down by over a 10% since 2004. At first glance this may seem odd but life insurance has lost its spot as one of the priorities in Americans lives. The consequences of this may not be relevant to some, but how often do we think about wealth fare of those we live with?

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