The future of the life industry: Eight predictions from RL360°
By International Adviser, 28 Jul 15
In the first of a series of insights from prominent life industry figures, David Kneeshaw, chief executive at RL360°, takes a look at future opportunities.
As the world develops there will be increasing choice available for consumers. The international life industry will have to stand on its own 2 feet and, although there will be more competition, there will also be a bigger market.
The financial and regulatory strength of life companies will play an important part in this mix. Those remaining in the industry will be forced to adapt product design to suit regional variations.
The key attribute of international life companies in the modern world will be a sound capital base and liquidity, and regulatory strength. They will also need to abide by Solvency 2, or equivalent solvency regulations: doing so will enhance their financial strength.
Clients want to know they can sleep easily at night and life companies are in a position to ensure that happens.