The life insurance industry is always subject to change but since the financial crisis of 2008/9 there has been added impetus to adapt: new markets, better products, improved processes, different channels.  Against a background of "flat growth" providers are looking to the so-called "middle market".  Who is this mythical middle market, what are its expectations and how can providers align insurance propositions with their customers' needs? 

This presentation will highlight the challenges faced by the life market and how reinsurers can and do support insurers with innovation, data insights, a global view and shared best practices.  

We will explore the makeup of the "middle market", highlight why it's important for growth, what the benefit is to society (by analysing the protection gaps) and where the opportunities lie. This will include key concepts such as the protection gaps, the importance of easy-to-buy policies, how to mitigate the potential anti-selection; as well as what support reinsurers can give in terms of pricing, product development, predictive models and underwriting and claims technology.

We will look into how reinsurers have supported insurers with campaigns aimed at the "middle market".  The case studies will help us illustrate the importance of understanding the market in order to assess the optimum solution to improve customer value and access; and then show examples of how automation, simplified policy issue and predictive analytics (which models and techniques could be used and which expected and unexpected variables emerge as predictive) were used to open up new markets, improve ease of purchase, and provide protective value for the customer.