Jeremy Lim’s Post

Amid Singapore’s rapid growth, a critical concern often goes unnoticed—the gaps in critical illness and mortality coverage. With a mortality protection gap of SG$373 billion and a critical illness protection gap of SG$579 billion, many Singaporeans are vulnerable to financial strain during health crises or the loss of a loved one. https://lnkd.in/gHGPkjfF #Insurance #FinancialSecurity #CriticalIllness #MortalityProtection #Singapore #FinancialPlanning #LifeInsurance

Off the back of Swiss Re's latest report on excess mortality after COVID-19, we provided some insights to @ANZIIF on how things are playing out in this endemic state, particularly in the APAC region. This 'evolution' must be closely monitored and managed by the re/insurance industry – and most importantly, there must be a continued emphasis on the value of prevention and healthcare measures. Take a read… https://lnkd.in/eTnNquuP #swissre #excessmortality #lifeinsurance

Increasing the risk pooling level is essential for reducing regional disparities and improving the efficiency of BMI funds. This change will deeply affect the supply and demand sides of China's healthcare ecosystem. #China #InnovativeMedicine #BasicMedicalInsurance

👉AXA is one of the leading insurance companies in the world and has been actively responding to the COVID-19 crisis and its economic and social impact. Here are some of the highlights of AXA's actions and plans related to COVID-19:- In April 2020, AXA announced the 🦾strengthening of its action 📊plan to tackle the health, economic and social emergency. The company committed to protecting its employees and clients, ensuring the continuity of a business that is essential to society, and contributing to the solidarity effort coordinated by the🇫🇷 French government.👉 In March 2021, AXA announced 🍂senior leadership changes to implement its new strategic plan, Driving Progress 2023. The company simplified its Corporate Center and appointed two Deputy CEOs to manage all of the Group's central functions.✌️ In January 2020, AXA CEO Thomas Buberl said that he saw 💡virus scares as a new norm for the insurance industry and that AXA was well prepared to deal with the uncertainty. He also said that AXA's future opportunity was in 🏥healthcare, especially in🇨🇳 China, where there was a growing demand for insurance products💡👉🇨🇳 Bloomberg News

Some robust results from the annual Swiss Re Group Watch report. I am Incredibly pleased with not just the performance of Canada Life, our industry leading numbers of new schemes written both overall and in the competitive Group Income Protection segment, but also the wider view. In particular the exponential growth around Group Critical Illness, once considered a 'nice to have' addition to a benefits package. This is quickly becoming a must have, with employers and employees alike embracing the value, the support and the ROI it can bring. Some clear and key oversight from our MD Dan Crook below: - #canadalife #leadingprovider #employeebenefits #workplaceprotection #grouplifeassurance #groupincomeprotection #groupcriticalillness #groupwatch #swissre

BLOG | Improving population health: The role of insurers as investors This blog, written in collaboration with ShareAction, explores the role of insurers, both as protectors and investors, in influencing population health. It also sets out the steps that ShareAction has identified for insurers to take to harness their powers as investors to address health-related risks across society. Find out more - https://lnkd.in/eFkyG58C #AssociationofBritishInsurers #Insurance #LongTermSavings #HealthInsurance #IncomeProtection #Investment #ResponsibleInvestment

Although the concept of preventive health comes to the fore frequently today, it is not easy to say that concrete steps have been taken in this field and rapid adaptations can be made. Insurance companies are one of the most impartial and important stakeholders in this field. Just like our home insurer wants us to buy a fire detector to prevent our house from burning down, living longer and healthier is one of the main goals of health and life insurance. Because getting sick less and living longer than expected is essential for insurance companies to make money, preventive health has become more important to them. Swiss reinsurance company Swissre stated in its study that protecting metabolic health is one of the areas that insurance companies should pay attention to. #obesity #insuretech #insurance #diabetes https://lnkd.in/dSDbF4Nc

If the ongoing impact of COVID-19 is not curtailed, excess mortality rates in the general population may remain up to 3% higher than pre-pandemic levels in the US and 2.5% in the UK by 2033, as per a report from the Swiss Re Institute.

Customers are at the heart of what we do. That's why we have conducted Asia Care Survey to understand their concerns, priorities and aspirations since 2020. The survey, now in its fifth edition, takes a deep dive into Asia consumers’ views on their current and future physical, mental and financial well-being.  Physical well-being is identified as the priority across all eight markets covered in the survey, while three quarters of the survey respondents said rising healthcare costs are their main financial concern. As a leading pan-Asian life insurer, we are intensifying our efforts to develop innovative health and wellness solutions to meet our customers’ health and wealth protection needs. Learn more: https://lnkd.in/gJQ_bXyb Manulife

Mortality Resilience Improves in China: A Regional Perspective In recent years, China's mortality resilience has shown significant improvement, particularly through increased life insurance uptake across its provinces. A comprehensive study by the Swiss Re Institute, utilizing their Resilience Index methodology, reveals that from 2022 to 2023, the mortality protection gap narrowed by 6%, while the resilience index rose by 2.3 percentage points. The resurgence in life insurance coverage has been a key driver of this positive trend. Despite economic challenges, the life insurance sector experienced a notable recovery, contributing to greater financial protection for families against the premature loss of a breadwinner. Notably, provinces like Beijing and Shanghai saw the most substantial gains, reflecting the robust growth in the life insurance market. While disparities in mortality resilience persist across regions, the overall trend indicates a strengthening of financial protection mechanisms, particularly in less economically developed areas, setting a positive trajectory for the future. #ageingsociety #longevity #lifeinsurance #buildingsocietalresilience #resilience https://lnkd.in/d_b5dTVn