Product Trends Around the World: February 2025

Welcome to the February 2025 issue of Product Trends. This issue highlights the breadth of new product offerings and the influence of technology.

Group

Group plans are experiencing rapid growth for voluntary coverages, such as long-term care, financial coaching, and identity theft protection. As more plans cater to individual groups, benefits are being widened to encompass will execution and causes for leave.

Health

A significant number of recent product launches focus on women’s health. Also gaining momentum are comprehensive 360-plans that cover customers throughout their health journey.

Life

Insurers are simplifying the decision-making process, while also providing seamless solutions. Recent partnerships enable services for beneficiary support. Several products have been introduced that cater to high net worth clients.

Technology

Insurers and insurtechs continue to release apps for a variety of services. More online platforms have surfaced that provide comparisons of products and pricing. The presence of AI and digital tools are being applied to improve the customer experience across all touchpoints.

Other trends:

• Annuities – These products continue their ongoing evolution, with flexible start dates and simplified underwriting processes.
• Combination products – Recent launches merge various components – such as life, health, and savings – for a comprehensive offering.
• Living benefits – Three product features are moving to the forefront – simplicity, transparency, and seamless claims experiences.
• Agents and brokers – An influx of technology, ranging from generative AI to digital platforms, are reshaping processes and productivity.
• Bancassurance – Online platforms, apps, and AI are creating enhanced experiences.
• Microinsurance – Technology is establishing a larger presence through messaging apps and social media.
• Streamlining process – Simplicity and efficiency for customer journeys remain the focus, with expanded use of machine learning and analytics.
• Wellness – The number of new product launches has dipped, yet the benefit offerings are expanding.

View Product Trends February 2025

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