X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Going forward, carriers will need to carefully consider how they design, model, and price longevity products to meet economic targets and reduce downside risk over the long term as lifespans keep rising.

A confluence of demographic and economic trends make longevity risks perhaps the biggest growth opportunity for insurers, but writing such long-tail coverage profitably also might present the industry with its biggest challenge in the decades ahead.

Retirement financing and securing lifetime income are the main objectives for most annuities holders today, according to the latest “Voice of the Insurance Consumer” survey by Deloitte’s Center for Financial Services. That means the stage is already set for potentially dramatic market expansion, given estimates by the Pew Research Center that roughly 10,000 Baby Boomers will turn 65 every day between now and 2030.  

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.