Sustainable Life Insurance: Managing Risk Appetite for Insurance Savings and Retirement Products
In: Chapman and Hall/CRC Financial Mathematics Series
Cover -- Half Title -- Series Information -- Title Page -- Copyright Page -- Author Bios -- Table of Contents -- Introduction -- Chapter 1 The Transformation of the Risk Appetite for Sustainable Savings and Retirement Policies -- 1.1 The Transformation of the Insurance Business Over the Past Decade -- 1.1.1 Medium- to Long-Term Shifts in Customers' Longevity, Risk Appetites and Behaviours Create Opportunities and Challenges for Insurers, While Decreasing Tax Benefit Calls for Innovations -- 1.1.1.1 The Demographic Dividend Within Ageing Societies -- 1.1.1.2 Customers' Risk Appetite and Behaviours Have Become More "Efficient" With Respect to Increasingly Defined Needs and Rising Costs Versus Reduced State Expenditures On Pensions -- 1.1.1.3 Sustainability Offers a Historic Opportunity to Lead, Innovate and Grow Purposefully -- 1.1.2 Key Lessons From the 2008 Financial Crisis and the Persistently Low Interest Rates Environment Regarding Sustainability -- 1.1.2.1 The 2008 Financial Crisis Was a Stress Test -- 1.1.2.2 High Market Uncertainties and Persistently Low Interest Rates Have Had a Drastically Negative Impact On the Sustainability of Savings and Retirement Products -- 1.1.3 In-Force Management Opportunities and Challenges: a Strategic Asset for Sustainable Savings and Retirement -- 1.1.3.1 Assess and Prioritize Opportunities for Earnings, Value and Capital Enhancements -- 1.1.3.2 Better Understand Customers' Retention Drivers and Tailor Interactions to Improve Portfolio Profitability -- 1.1.3.3 Manage In-Force Assets to Enhance Their Resilience to Lower Interest Rates and Yields -- 1.1.3.4 Manage In-Force Portfolio Liabilities to Enhance the Runoff Value -- 1.2 Securing Long-Term Sustainable Business Growth: From Governance to Effective Risk Management -- 1.2.1 Risk Is Embedded Within the Insurer's Business Model.