| Overview
Product Trends Around the World 2025 Q1
This newsletter provides a quarterly summary of recent product developments in life and health insurance around the world, based on public information from various sources.
We hope you find this edition of the Product Trends newsletter informative. As always, we welcome your comments, questions, and suggestions.
Also, we’d like to thank our colleagues in RGA offices around the world for their contributions and insights within this report.
Othmane Akesbi, Vice President, Global Product Initiatives Hamza Shaiban, Manager, Global Product Initiatives Jasmina Landekic, AVP, Strategic and Competitive Research Matt Berkley, Director, Strategic Research Gayathri Ravi Shankar, Manager, Strategic Research
Product Trends
Behavioral Science and Life Insurance: The value of improved comprehension in the customer journey.
R. Cruz, February 2025.
Navigating the Unknown: Mortality considerations for underserved markets.
M Cusumano, R Shubert, May 2025.
Future Partnerships for Life Reinsurers Call for Combined Capabilities.
M. Rolfe, April 2025.
Building a Better Insurance Partnership: Lessons from a historic holistic collaboration.
M. Benz, J. Jennings, E. Cathey, February 2025.
Learning from Obstacles: Three lessons from a digital-first diabetes insurance product in Mexico.
J. Spinola Grandio, Y. Luna, February 2025.
Medical Advances Spur Insurance Product Innovations.
H. Shaiban, O. Akesbi, May 2025.
Life and Health Insurance Product Trends: Insights from RGA-supported product launches.
H. Shaiban, O. Akesbi, January 2025.
Protecting Her Wellbeing: How an innovative critical illness plan is bridging the coverage gap for women in India.
A. Goel, Dr. Lund, Dr. Wane, Dr. Goud, February 2025.
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©2025, Reinsurance Group of America, Incorporated. All rights reserved. No part of this publication may be reproduced in any form without the prior permission of the publisher. For requests to reproduce in part or entirely, please contact: publications@rgare.com. RGA has made all reasonable efforts to ensure that the information provided in this publication is accurate at the time of inclusion and accepts no liability for any inaccuracies or omissions. None of the information or opinions contained in this publication should be construed as constituting medical advice.
Overview
Regions
Products
Distribution
Value-added services
North America
EMEA
APAC
Throughout the first quarter of 2025, the life and health insurance industry saw a range of product launches across the world. In the Asia-Pacific (APAC) region, we observed launches of life, medical, and critical illness products, as well as investment products. In North America, emphasis was on investment products, particularly universal life, and indexed annuity offerings. Activity in Latin America was focused on life product launches in the Brazilian market. In the Europe, Middle East, and Africa (EMEA) region, new life and medical products were launched.
We also observed several interesting developments, including new fertility insurance benefits, multi-generational coverage options enabling policyholders to add parents or children to their policies, and new value-added services. In the area of fertility and family planning, Future Family, a US startup, launched an IVF insurance product with a money-back guarantee if the couple does not have a baby after two cycles or loses their baby within two weeks of birth. Additionally, Cigna Healthcare has announced a collaboration with Progyny, a provider of fertility and family-building solutions, to enable employers to offer expanded coverage throughout the fertility journey, including access to Progyny’s network of fertility clinics, one-on-one personalized support, and pre-conception coaching, as well as options for family-building services such as surrogacy and adoption.
We also saw insurers offering products that allow policyholders to cover their parents or children under their policies. In Malaysia, Prudential launched PRUWith You Plus, which automatically entitles all children, from birth to age seven, to additional life and child-specific illness coverage under their parents’ plan. This includes an extra 30% of the basic sum assured without underwriting or additional cost. In Brazil, Icatu has enhanced its Essential life insurance product with new optional life coverage for parents. This coverage can be purchased by policyholders for either or both of their parents, up to 80 years old.
Insurers have continued to launch new value-added services to differentiate their life and health insurance offerings. In Canada, Sun Life has partnered with Empathy to provide post–life claims bereavement support services to their group benefits members. In Sri Lanka, Softlogic has introduced an AI-powered health monitoring system using a face scan that determines an individual’s “Health Score”. This score enables individuals to proactively monitor their health, receive rewards for maintaining or improving their score, and prevent potential health issues. The insurer also aims to use this solution to underwrite new applicants in the future. In the US, Guardian has partnered with Uber Health to provide transportation for long-term disability claimants. Meanwhile, Lincoln Financial has expanded its partnership with Candidly to offer their employee group benefit members access to solutions for college planning, student debt management, and emergency savings, on the WellnessPATH Marketplace, a platform which connects employees with various wellness solutions. Additionally, Lincoln announced the introduction of tax preparation, estate planning, and homebuying support solutions on the platform, through additional partnerships.
| Executive summary
| APAC region
China
Huize launches customized mid-tier medical insurance product “PrimeMed” in partnership with CCIC and MSH CHINA
Hong Kong
AXA launches new “WealthAhead Savings Plan”
Bupa Hong Kong partners with Mannings to launch Bupa x Mannings PharmaCare Programme
Manulife launches “Cancer Drug Support Service” to eligible customers with selected critical illness plans
YF Life Launches "YF Deferred Annuity 3" with New Lifetime Annuity Payouts Options
India
Go Digit Life launches its first individual pure term life insurance plan
Shriram Life Insurance launches Sunishchit Laabh savings plan
Tata AIA launches Shubh Flexi Income Plan, a non-linked, participating life insurance savings plan
Tata AIA Life launches “Shubh Muhurat” to aid wedding financial planning
Indonesia
AIA launches AIA INSPIRE: traditional life insurance with cash benefits up to age 99
AIA and BCA launch Proteksi Jiwa Maksima (JIMI) with benefits up to 315%
Korea
Kyobo Life launches insurance coverage for three major diseases
Malaysia
Prudential launches PRUWITH You Plus for comprehensive, customizable coverage
Philippines
Cebuana Lhuillier Insurance Brokers launches Philippines’ first Takaful
InLife launches iProtect term life product with 200% death benefit and option to convert to permanent plan
Philippines launches insurance plan covering major critical illnesses
Sun Life launches a medical/critical illness product with wellness services for Overseas Filipino Workers
Sri Lanka
Softlogic Life to introduce AI powered “Health with Face Recognition Health Score”
Thailand
Bangkok Life Assurance launches two products for high-income earners
Chubb Life Thailand launches ”Super Protect Link,” empowering customers to build wealth at every stage of life
Oman
Sohar International Bank partners with Arabian Falcon Insurance to introduce Family Protection Plan (FPP) and Life Protect
UAE
HAYAH Insurance unveils ”Health Protect” for Abu Dhabi's digital future
UK
AXA - Global Healthcare launches holistic All-In-One app
| EMEA region
Brazil
Icatu presents life insurance coverage for parents
PicPay launches Assistência Saúde with Icatu and expands insurance hub
| LatAm region
Canada
Saskatchewan Blue Cross launches a collaboration with Cleveland Clinic Canada and Homewood Health to provide virtual care, employee assistance and mental health support
Sun Life partners with Empathy to help more families through loss
USA
Cigna Healthcare expands access to fertility and family-building benefits and services
Cigna Global Health Benefits launches new program with Carrot to support customers through fertility, family-building, and hormonal health journeys
Delaware Life announces suite of fixed index annuities
Florida's Southern Guaranty Insurance launched a fixed indemnity medical insurance plan for gig workers, freelancers, and the self-employed
Global Atlantic announces new registered index-linked annuity
Guardian and Uber Health join forces to increase access to care and inspire wellbeing
Guardian members with workplace benefits gain access to Peloton App, designed to inspire wellbeing
IVF insurance startup Future Family promises a baby or your money back
John Hancock releases hybrid life-long-term care policy
Lincoln Financial expands life insurance portfolio with launch of two new variable universal life products
Lincoln Financial enhances employee wellbeing with expanded financial wellness solutions
MetLife expands New Hampshire Paid Family Medical Leave Program with mental wellbeing offering
Nationwide introduces Heritage Single Premium Whole Life Insurance
Nayya and Workday announce strategic partnership to deliver AI-powered health and wealth benefits experiences for employees
Prudential collaborates with Penguin Benefits to help simplify the workplace leave experience
Securian Financial launches accident and critical illness insurance products for affinity market
Voya launches new permanent life insurance offering with long-term care benefits through the workplace
| North America region
LatAm
Combo Products
Medical
Living Benefits
Life
Investments
Alternative Distribution
Digital
Goup
Other
Wellness
Life
AIA and BCA launch Proteksi Jiwa Maksima with sum assurance up to 315%
Cebuana Lhuillier Insurance Brokers launches Philippines’ first Takaful
Go Digit Life launches its first individual pure term life insurance plan
Icatu presents life insurance coverage for parents
InLife launches iProtect term life product with 200% death benefit and option to convert to permanent plan
PicPay launches Assistência Saúde with Icatu and expands insurance hub
Prudential launches PRUWITH You Plus for comprehensive, customizable coverage
Sohar International Bank partners with Arabian Falcon Insurance to introduce Family Protection Plan (FPP) and Life Protect
Living benefits
Philippines launches insurance plan covering major critical illnesses
Guardian and Uber Health join forces to increase access to care and inspire wellbeing
Manulife launches “Cancer Drug Support Service” to eligible customers with selected critical illness plans
Prudential collaborates with Penguin Benefits to help simplify the workplace leave experience
Securian Financial launches accident and critical illness insurance products for affinity market
Medical
Cigna Healthcare’s Global Health Benefits business launches new program with Carrot to support customers through fertility, family-building, and hormonal health journeys
Florida's Southern Guaranty Insurance launched a fixed indemnity medical insurance plan for gig workers, freelancers and the self-employed
HAYAH Insurance unveils “Health Protect” for Abu Dhabi's digital future
Huize launches customized mid-tier medical insurance product “PrimeMed” in partnership with CCIC and MSH CHINA
IVF insurance startup Future Family promises a baby or your money back
Kyobo Life launches insurance coverage for three major diseases
MetLife expands New Hampshire Paid Family Medical Leave Program with mental wellbeing offering
Investments
AIA launches AIA INSPIRE: traditional life insurance with cash benefits up to age 99
AXA launches new “WealthAhead Savings Plan”
Bangkok Life Assurance launches two products for high-income earners
Chubb Life Thailand launches ”Super Protect Link,” empowering customers to build wealth at every stage of life
Delaware Life announces suite of fixed index annuities
Global Atlantic announces new registered index-linked annuity
Lincoln Financial expands life insurance portfolio with launch of two new variable universal life products
Nationwide introduces Heritage Single Premium Whole Life Insurance
Shriram Life Insurance launches Sunishchit Laabh savings plan
Tata AIA launches Shubh Flexi Income Plan, a non-linked, participating life insurance savings plan
Tata AIA Life launches “Shubh Muhurat” to aid wedding financial planning
YF Life Launches "YF Deferred Annuity 3" with New Lifetime Annuity Payouts Options
Combo products
John Hancock releases hybrid life-long-term care policy
Sun Life launches a medical/critical illness product with wellness services for Overseas Filipino Workers
Voya launches new permanent life insurance offering with long-term care benefits through the workplace
| Products
Wellness
AXA - Global Healthcare launches holistic all-in-one app
Bupa Hong Kong partners with Mannings to launch Bupa x Mannings PharmaCare Programme
Cigna Healthcare expands access to fertility and family-building benefits and services
Cigna Healthcare’s Global Health Benefits business launches new program with Carrot to support customers through fertility, family-building, and hormonal health journeys
Guardian members with workplace benefits gain access to Peloton App, designed to inspire wellbeing
Lincoln Financial enhances employee wellbeing with expanded financial wellness solutions
Manulife launches “Cancer Drug Support Service” to eligible customers with selected critical illness plans
MetLife expands New Hampshire Paid Family Medical Leave Program with mental wellbeing offering
PicPay launches Assistência Saúde with Icatu and expands insurance hub
Saskatchewan Blue Cross launches a collaboration with Cleveland Clinic Canada and Homewood Health to provide virtual care, employee assistance, and mental health support
Softlogic Life to introduce AI powered “Health with Face Recognition Health Score”
Sun Life launches a medical/critical illness product with wellness services for Overseas Filipino Workers
Other
Guardian and Uber Health join forces to increase access to care and inspire wellbeing
Prudential collaborates with Penguin Benefits to help simplify the workplace leave experience
Sun Life partners with Empathy to help more families through loss
| Value-added services
Group
AXA - Global Healthcare launches holistic all-in-one app
Bupa Hong Kong partners with Mannings to launch Bupa x Mannings PharmaCare Programme
Cigna Healthcare expands access to fertility and family-building benefits and services
Cigna Healthcare’s Global Health Benefits business launches new program with Carrot to support customers through fertility, family-building, and hormonal health journeys
Guardian and Uber Health join forces to increase access to care and inspire wellbeing
Guardian members with workplace benefits gain access to Peloton App, designed to inspire wellbeing
Lincoln Financial Enhances Employee Wellbeing with Expanded Financial Wellness Solutions
MetLife expands New Hampshire Paid Family Medical Leave Program with mental wellbeing offering
Nayya and Workday announce strategic partnership to deliver AI-powered health and wealth benefits experiences for employees
Prudential collaborates with Penguin Benefits to help simplify the workplace leave experience
Saskatchewan Blue Cross launches a collaboration with Cleveland Clinic Canada and Homewood Health to provide virtual care, employee assistance and mental health support
Securian Financial launches accident and critical illness insurance products for affinity market
Sun Life partners with Empathy to help more families through loss
Voya launches new permanent life insurance offering with long-term care benefits through the workplace
Digital
Go Digit Life launches its first individual pure term life insurance plan
HAYAH Insurance unveils “Health Protect” for Abu Dhabi's digital future
Alternative Distribution
PicPay launches Assistência Saúde with Icatu and expands insurance hub
| Distribution
Product Trends | 2025 Q1