Variable Annuities – Are They a Guaranteed Success?Contact: Jennifer BerlinLIMRA's Matt Drinkwater and Joe Montminy from the US office and Chris Heath from LIMRA's UK office presented a webinar on variable annuities in September, 2008. Trends in US sales, demographics of the purchasers and types of guaranteed living benefits are described. The competition from other products is discussed along with product development innovations. Chris Heath finishes the presentation with a broad overview of the variable annuity market in Europe.(2008)
The Market Maturity ModelContact: Jennifer Berlin The life insurance markets in various countries steadily progress from an emerging phase to a more mature phase over time. While this progression seems inevitable, the precise nature of the changes and the pace of change vary from country to country for a variety of factors including the state of economic and business development, government policies, and consumer attitudes. The Market Maturity Model provides a framework for understanding what has happened to mature markets in the life insurance industry around the world, and what will happen to emerging markets in the future.(2008)
Takaful: An Alternative to Conventional Insurance Contact: Ruthine Williams-Baron Takaful is an Islamic insurance concept, which has at its core Islamic muamalat (banking transactions) observing the rules and regulations of Islamic law. In general, Takaful is a form of mutual insurance that is based on mutual cooperation, responsibility, assurance, protection, and assistance between groups of participants. The main differences between Takaful and conventional insurance exist in the contract, inherent guarantees, and investments. The principles of Takaful are based on mutual cooperation, responsibility, assurance, protection, and assistance between participants. Additionally, Takaful has some unique characteristics, which can be observed in beneficiary designation and causes of death, to name a few. This report discusses the progress of Takaful and provides insight to insurance operators who may venture into this alternative form of insurance.(2008)
Bancassurance Around the World Contact: Lori L. Chester This report presents a summary of the bancassurance environment in Asia, Latin America, Europe, and the United States. Information is presented on topics such as bancassurance growth, regulations and taxation that impact bancassurance, the types of products sold through this channel, the main challenges of bancassurance, and keys to successful bancassurance operations.(2007)