财务健康：这是重塑人寿保险的关键吗？

Adrita Bhattacharya-Craven,Director Health & Ageing, The Geneva AssociationRichard Jackson,President, Global Aging InstituteKai-Uwe Schanz,Deputy Managing Director and Head of Research & Foresight, The Geneva AssociationFinancial Wellbeing:Is it the key to reinventinglife insurance? 1Financial Wellbeing: Is it the key to reinventing life insurance? 2www.genevaassociation.orgThe Geneva AssociationThe Geneva Association was created in 1973 and is the only global association of insurance companies; our membersare insurance and reinsurance Chief Executive Officers (CEOs). Based on rigorous research conducted in collaborationwith our members, academic institutions and multilateral organisations, our mission is to identify and investigatekey trends that are likely to shape or impact the insurance industry in the future, highlighting what is at stake forthe industry; develop recommendations for the industry and for policymakers; provide a platform to our membersand other stakeholders to discuss these trends and recommendations; and reach out to global opinion leaders andinfluential organisations to highlight the positive contributions of insurance to better understanding risks and tobuilding resilient and prosperous economies and societies, and thus a more sustainable world.Geneva Association publications:Pamela Corn, Director CommunicationsHannah Dean, Editor and Content ManagerPetr Neugebauer, Digital Media ManagerSuggested citation: The Geneva Association. 2022.Financial Wellbeing: Is it the key to reinventing life insurance?Authors: Adrita Bhattacharya-Craven, Richard Jackson andKai-Uwe Schanz. May.© The Geneva Association, 2022 All rights reservedwww.genevaassociation.orgPhoto credits:Cover page— Shutterstock.com ContentsForeword1.Executive summary2.Introduction2.1The evolving notion of financial wellbeing2.2Life insurance and financial wellbeing: The current state of play2.3Organisation of the report3.The drivers reshaping the future of financial wellbeing3.1The changing environment for retirement3.2Demography, health and healthcare costs3.3Economic drivers3.4Technological drivers4.Insurers’ response to the new market realities4.1How have life insurers reacted so far?4.2Insights from 25 life insurers5.Concluding remarks and a way forward5.1Step up efforts to directly affect the determinants of savings and risk protection5.2Promote financial literacy in young age5.3Improve risk exposure through preventive measures.5.4Tap into the longevity economyReferences 3Financial Wellbeing: Is it the key to reinventing life insurance?569910111212162224282831363737383840 4www.genevaassociation.orgAcknowledgementsThis publication is a product of the Health & Ageing work stream of The Geneva Association, co-sponsored by Thomas Buberl, CEO of AXA, and Michel Khalaf, CEO of MetLife.We are very much indebted to the members of the Working Groups, established in support of theresearch activities of our Health & Ageing and Socio-economic Resilience work streams, respectively,who guided the development of this report, as well as our external partners at the Global Aging Institute(GAI). We would also like to thank Pieralberto Treccani for support with background research.In addition, we extend our deepest gratitude to those who contributed key insights and data for this report:Tim Beardsall (AIA), Giulio Slavich (Allianz), Alistair McQueen (Aviva), Philippe Ly Van Luong (AXA),Wei Yu and Yan Yu (China Taiping), Noriyoshi Hosokawa (Dai-ichi Life Holdings), Licia Hamer(Discovery), Jörg Fillers (ERGO), Marco Cariglia and Antonio Salera (Generali), Myles Atwood(Manulife), Enrique de la Torre Velasco (MAPFRE), Tyler Bradshaw (MetLife), Hiroki Hayashi (NipponLife), Dominique d’Haens (NN Group), Xuebing Wang (PICC Life), Vishal Jain (Prudential Financial),Matt Singleton (Swiss Re), Manfred Bartalszky, Klaus Mühleder and Erwin Hammerbacher (ViennaInsurance Group) and Sandro Meyer (Zurich Insurance). From Risk Transfer to Risk PreventionFinancial Wellbeing: Is it the key to reinventing life insurance?Foreword Global life expectancy has risen by six years in the past two decades and is projected torise by another eight years to 81.7 by the end of the century. In Europe and Japan it isexpected to reach 88.8 and 93.5, respectively.Longer lives are a scientific and public-health success. However, longevity needs to be notjust about living longer, but thriving – physically and financially – while doing so.Health spans need to catch up to life spans to enable long, fulfilling, productive lives,without the financial strain that comes with managing chronic illness.We need to address growing retirement insecurity. Despite innovative approachesby governments to encourage the expansion of employer and personal pensions,retirement savings remain inadequate almost everywhere, with many facingimpoverishment in old age.To make matters more complex, economic factors like low interest rates and inflationare impairing the ability of funded pensions and