Product Trends Q1 | June 2024
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RGA’s Product Trends newsletter is one of the many services provided to our clients by RGA’s Global Actuarial Pricing and Research department. In every issue, our team seeks to share the latest market intelligence from across the global life and health insurance industry. Our experts scan, curate, and organize information sources from around the world to provide the most current and comprehensive product and distribution trends in every issue. We hope you find this edition informative and insightful. We would also like to thank our colleagues in RGA offices around the world for their contributions to this report, and as always, we welcome comments, questions, and suggestions from our valued clients.
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Jasmina Landekic AVP, Strategic and Competitive Research Diana Bosworth Senior Strategic Research Analyst
Discover the latest in product innovation: Navigating today’s product development landscape can be daunting—but the more you know, the better positioned you and your teams will be. On the upper right hand corner, search by region or by product type to explore the world’s most innovative insurance products and services.
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Impact of Anti-Selective Behavior on the Life Insurance Industry.
Ringing in the New Year with a Chat Bot: A 2024 generative AI update for insurers.
Accelerated Underwriting Analysis: Examining today’s accelerated underwriting and its bright future.
In focus: High net worth products
Products Trends >
Shifting to a client-centric approach that focuses on clients’ complete financial situation, including factors such as estate planning, tax optimization, and liquidity needs Moving toward more sophisticated, flexible products tailored to the unique needs of HNW individuals Addressing a growing interest in philanthropy and impact investing among affluent individuals and families Strengthening the connection between wealth and wellbeing with HNW life insurance products that offer a wellness component
Recent reports confirm the long-anticipated global “Great Wealth Transfer” is underway. In the U.S. alone, an estimated $90 trillion in assets will be transferred between generations over the next 20 years. High net worth (HNW) individuals are actively planning for future wealth accumulation and transition. Where does insurance fit in? Visit RGA’s Knowledge Center for a summary of the ways insurers are adapting to meet the needs of today’s HNW clients, including:
Thought Leadership
At RGA, we are eager to engage with clients to better understand and tackle the industry’s most pressing challenges together. Contact a representative in your region to learn more about our capabilities, resources, and solutions.
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AI Chatbots Break Down Barriers to Much-Needed Mental Health Treatments.
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Product Trends Q1 | July 2024
Please select the region from the list on the right navigation that best represents your area of interest. All of the available articles and resources within that region will populate below.
Annuities India Max Life launches SWAG (Smart Wealth Annuity Guaranteed) Pension Plan with customizable annuity options. CNBCTV18, January 23, 2024. SWAG Pension Plan is a non-linked, non-participating individual/group general annuity savings plan. Customers can tailor their own policies choosing from an array of annuity options. They can also choose from a range of “Return of Premiums” options. LIC's new Jeevan Dhara II Policy: Check 11 annuity options, eligibility conditions and more. CNBCTV18, January 20, 2024. Jeevan Dhara II is an individual, non-linked and non-participating individual savings deferred annuity plan.Policyholders can choose between regular premium and single premium, single life annuity, or joint life annuity. The mode of annuity payments can be yearly, half-yearly, quarterly, and monthly. ICICI Prudential Life Insurance launches ICICI Pru Guaranteed Pension Plan Flexi with Benefit Enhancer. Press release, January 17, 2024. ICICI Pru Guaranteed Pension Plan Flexi with Benefit Enhancer is an annuity plan that offers a 100% refund of premiums at any time from the date of purchase. Customers can choose from either the single life option, in which the income is paid for as long as they live, or a joint life option, where after one passes away, the income is paid to the secondary annuitant. Combination Products Vietnam Shinhan Life Vietnam launches Endowment insurance product "Shinhan - sống an vui". Press Release, March 14, 2024. Shinhan – Sống An Vui is an effective combination of protection and savings to provide a comprehensive financial solution against risks, while helping customers and their families fulfil long-term plans with the backup fund for future needs. Shinhan – Sống An Vui offers a set of three advanced protection solutions, not only protecting against three common critical illnesses, but also sharing the burden of hospital bills and surgery costs. The plan provides medical support benefits, critical illness insurance benefits, and death or Total Permanent Disability (TPD) benefit. (Text in Vietnamese) Health Hong Kong FWD launches new VHIS vFamily Medical Plan First-in-Market [1] Family Booster for Child Option (Optional Benefit) [2]… Media, March 19, 2024. The new vFamily Medical Plan (“vFamily”) provides full coverage on a wide range of hospitalization and surgical expenses anywhere in the world. vFamily comes with the first-in-market Family Booster for Child Option (Optional Benefit) to offer comprehensive and relatively affordable medical protection solution for children. Sun Life Hong Kong Expands Healthcare Solutions in the Greater Bay Area, Leads the Market by Upgrading its Cashless Arrangement Service in Mainland China. Press release, February 1, 2024. Sun Life Hong Kong has enhanced its Cashless Arrangement Service in Mainland China. The service has been extended to nearly 2,000 hospitals, including all Class 3A public hospitals across Mainland China and all Class 2A public hospitals within the Greater Bay Area. Clients in Hong Kong and Mainland China can access comprehensive medical support services through eSunPro, a one-stop healthcare service platform. Cigna Healthcare Hong Kong Launches Cigna HealthFirst Elite 360 Medical Plan, Safeguarding Customer Health with Comprehensive and 360 Degree of Total Health Protection. PR Newswire Asia, January 31, 2024. Cigna HealthFirst Elite 360 Medical Plan covers customers at every stage of their health journey, from prevention, diagnosis, treatment, to recovery. Some of the key benefits of the plan include 360-degree total health protection, reward customers for staying healthy, unique one-on-one follow up Healthcare Concierge Service, and around the clock mental health support. India Bank of Maharashtra Launches ‘Mahashakti’ – a Women Cancer Coverage Program Powered by ManipalCigna Health Insurance. Zee Biz News, March 11, 2024. The women cancer coverage program under ManipalCigna Flexicare Group Insurance Policy has been tailor-made to cater to Bank of Maharashtra customers. It offers comprehensive coverage for the treatment of ovarian cancer, breast cancer, and cervical cancer. Future Generali India Insurance Launches Women-Health Insurance Plan. AIP Online Bureau, Mar 9, 2024. Future Generali India Insurance Company launched a comprehensive women-health insurance plan. The company also unveiled the findings of #PowHer Survey – an exclusive survey focusing on gauging the pulse of Indian women when it comes to buying health insurance. Zuno General Insurance Unveils Zuno HealthPlus Policy: An Affordable & Customizable Health Insurance Plan. Business News Week, January 3, 2024. The Zuno HealthPlus Policy is a health insurance plan designed to provide tailored coverage and benefits for individuals and families at an affordable premium. This plan allows for coverage for up to nine members under a single policy. The policy offers long-term discounts of up to 10% and incentivizes an existing customer with a 5% discount when purchasing the policy. Japan Lifenet and Eisai Co-Develop Dementia Insurance “be”. Press release, March 21, 2024. “be”is a dementia insurance that supports early detection and treatment of dementia and mild cognitive impairment. It offers a lump-sum benefit for dementia diagnosis and a lump sum benefit for MCI diagnosis. Eisai’s brain health (brain performance) self-check tool NouKNOW (non-medical device) is planned to be offered to dementia insurance “be” policyholders as an ancillary service by the end of 2024. Pakistan Sehat Kahani Forging Strategic Slliance with EFU Health Insurance. The Nation, January 18, 2024. Sehat Kahani is forging a strategic alliance with EFU Health Insurance. EFU Health policyholders will have 24/7 access to general physicians and can schedule online appointments with preferred specialists for personalized and specialized care. Policyholders will be able to connect with 24/7 available general physicians within 60 seconds. Philippines Allianz PNB Life and KonsultaMD Team Up for 24/7 Teleconsultations. Manila Standard, January 14, 2024. Allianz PNB Life (AZPNBL) forged a strategic partnership with KonsultaMD, offering Filipinos free medical teleconsultations. The partnership enables more Filipinos to access professional advice and diagnoses from esteemed medical experts 24/7. Manulife, Forticare Partner to Expand Social Protection. The Philippine Star, January 2, 2024. Manulife Philippines has partnered with a health maintenance organization (HMO) company to expand social protection in the country. Forticare Health Systems will become the sole provider of group life insurance bundled with Forticare’s existing HMO products. Customers will be able to add these to their healthcare plans basic life insurance coverage, total and permanent disability, critical illness rider, hospital income, terminal illness, and family assistance. Life Hong Kong Sun Life Announces Private Health Advisory Services for HNW Clients. Insurance Business, January 27, 2024. Sun Life has announced a new initiative that seeks to offer high-net-worth (HNW) clients in Hong Kong, Singapore, and Taiwan access to PinnacleCare's specialised private health advisory services. PinnacleCare offers personalised guidance and access to leading medical experts and specialists in the United States. The services offer concierge support for scheduling and securing appointments. Hang Seng Bank Launches Investment and Life Insurance Plan. Press release, January 12, 2024. Hang Seng introduces the “IncomePower” life insurance plan. This plan offers the chance to generate an annual non-guaranteed income of up to 5% of the total premiums paid. The plan also includes the Medical Advance Benefit, which covers three major critical illnesses and has guaranteed acceptance without the need for a physical examination. HSBC Life Launches Flexible Multi-Currencies Savings Plan as Global Activities Increase. Asia Advisers Network, January 16, 2024. The HSBC Eminent Goal Multi-Currency Insurance Plan provides up to nine currency options. It caters for customers’ international education and retirement planning needs. The plan also provides guaranteed cash value, special bonus, and regular withdrawal options. Sun Life Hong Kong Maintains a Strong Growth Trajectory by Introducing the Upgraded SunJoy Global Injecting Momentum for Business Growth in 2024. Press release, January 5, 2024. Sun Life Hong Kong has introduced a new participating insurance plan called SunJoy Global. This plan is an enhanced version of the existing SunJoy product and comes with either a short 2-Pay or 5-Pay premium payment term. It focuses on investment opportunities that excel in environmental, social, and governance (ESG) qualities. Brand-New AIA “Global Power Multi-Currency Plan 3” Offers High Returns and Extra Flexibility. Media Outreach, January 2, 2024. AIA Hong Kong has launched the Global Power Multi-Currency Plan 3. The plan offers high returns and extra flexibility. The plan offers an enhanced currency exchange option which is exercisable from the second policy year. India Max Life Expands Portfolio with “Smart Wealth Advantage Guarantee Elite Plan”: An HNI Proposition which Prioritises Guaranteed Returns and Lifelong Protection. Press release, March 6, 2024. Max Life Insurance introduces the SWAG Elite Plan for High Net-worth Individuals, offering guaranteed returns and lifelong protection. The Smart Wealth Advantage Guarantee Elite Plan – SWAG Elite Plan, building on innovative solutions that cater to the needs of modern consumers. Bajaj Allianz Life Assured Wealth Goal Platinum Launched. Mint, February 9, 2024. Bajaj Allianz Life Insurance recently launched an inclusive scheme that enables policyholders to access assured early income. This plan empowers individuals to customise their financial strategies, facilitating the accomplishment of various life goals. ICICI Prudential Life Insurance Launches ICICI Pru Gold Pension Savings Plan. Product brochure, February 2024. ICICI Prudential Life Insurance recently introduced a new pension product called ICICI Pru Gold Pension Savings. The plan helps accumulate and grow savings over the period of the policy term. The plan also offers periodic complimentary health services and checkups during the policy term. LIC introduces unit-linked plan, Index Plus. What is it? Here are the key features. BT Money, February 6, 2024 LIC launched a new unit-linked life insurance policy called LIC’s Index Plus. It is a non-participating, regular premium, individual life insurance plan. The eligibility criteria for entry into the insurance plan specify a minimum age of 90 days (completed) and a maximum age at entry of 50 or 60 years (nearer birthday). SBI Life Insurance Launches Two New Term Plans with Return of Premiums; Aims to Provide Comprehensive Life Protection Along with Fulfilling Financial Commitments. PR Newswire, January 24, 2024. The two products are “SBI Life - Saral Swadhan Supreme” and “SBI Life - Smart Swadhan Supreme.” They provide a life cover, but also benefit of return of premiums at maturity. Customers have the flexibility to choose premium payment terms, policy duration, and premium payment frequency. Canara HSBC Life Insurance Launches iSelect Guaranteed Future Plus. CNBCTV18, January 24, 2024. Canara HSBC Life Insurance has launched iSelect Guaranteed Future Plus, a plan that provides life insurance and guaranteed benefits to secure goals. The plan provides financial security and stability to individuals and their families for different life stages and milestones. Japan Whole Life Insurance for the Three Major Diseases, Long-Term Care, and Physical Disability. Press release, March 2024. “Three major diseases, long-term care, and physical disability whole life insurance,'' is a product that provides lifelong protection against cancer, acute myocardial infarction, and stroke; nursing care; and physical disability. Participants choose from two types with different levels of surrender value, and it includes a “Policyholder agency rider,'' for a policyholder who is unable to express their intentions due to illness or injury and is unable to carry out procedures on their own. (Text in Japanese) Malaysia Manulife Malaysia and Alliance Bank Malaysia Berhad Jointly Launch EliteLife Signature Legacy, Combining Legacy Planning with Senior Care... Press release, March 13, 2024. Manulife Malaysia and Alliance Bank Malaysia Berhad launched EliteLife Signature Legacy, a comprehensive legacy insurance plan. It offers high insurance coverage, extended disability coverage plus loyalty rewards and bonuses. The plan helps safeguard lifelong legacy that includes senior care benefit to support individuals with disability coverage up to their golden age in the event of old age disability from age 70 onwards. Prudential Malaysia Partners with EPF to Empower Both EPF Members and Their Loved Ones Towards Financial Freedom. Press release, February 5, 2024. Prudential Malaysia introduced four new solutions which are easy to enrol, accessible, and provide protection value under the Employees Provident Fund (EPF) i-Lindung initiative. The cost-effective protection plans are made available exclusively to EPF members and allows them to protect both themselves and their immediate family members through the funds in their EPF Account 2. Tune Protect Life Introduces First In Market Flexible Insurance Solution with A Virtual Assistant on Its B2c Platform. Press release, January 22, 2024. FLEXIOne is a flexible insurance solution of life, medical and/or critical illness for the retail market. Targeting the millennials and Gen Zs, FLEXIOne provides customers the flexibility to mix and match the coverages according to their individual preferences, budget, and needs. FLEXIOne is suitable for young, first-time buyers and those on a shoe-string budget, with premiums starting as low as RM5 a month. Worry-free Travel with BigPay TravelEasy, Powered by Tune Protect. Press release, January 18, 2024. BigPay, the leading Southeast Asian finance app, launched its latest offering, BigPay TravelEasy – a comprehensive travel insurance underwritten by Tune Protect Malaysia. BigPay users will be able to apply for their travel insurance within the BigPay app, with the application process taking just minutes. It provides worldwide coverage with plans starting from RM35 for international trips. BigPay users will be insured for accidents and unexpected medical expenses and travel inconveniences. Allianz Malaysia Partnered with GivingHub to Empower Three Chosen Social Organisations in 2024. Press release, January 8, 2024. Allianz Malaysia Berhad Group (Allianz Malaysia) partnered with GivingHub, a platform that helps organizations give to charitable causes more effectively. The “Level Up Your Organisation!” program, a year-long capacity-building program, aims to transform organizations to become more effective and sustainable through a series of training and coaching sessions. Philippines AIA Philippines Launches Comprehensive Plan to Protect Filipinos at Any Life Stage. Business Mirror, March 20, 2024. AIA Philippines launched AIA Max Protect – a new product that provides maximum protection with comprehensive benefits. Three recommended AIA Max Protect packages are available for customers to choose from, depending on their needs. Optional benefits include enhanced accident protection, critical illness, hospitalization, or wealth transfer. Sun Life Launches New Investment-Linked Plan. Business World, March 5, 2024. Sun Life Philippines has launched a new peso-denominated, single-pay investment-linked insurance product. Sun Peso Maximizer (ProIncome) offers an annual income payout of 4.3% for seven years. The product also offers life insurance coverage with a guaranteed benefit of at least 125% of the one-time premium payment. South Korea Qraft Technologies Expands Partnership with Hana Life to Become World’s First Life Insurance Company to Deliver a Full Lineup of AI-powered Variable Life Insurance Products. Press release, March 2024. Qraft Technologies announces the launch of three additional variable life insurance funds powered by Qraft’s proprietary AI models. The new funds were developed in partnership with Hana Life Insurance, a subsidiary of Hana Financial Group, and include: The AI US Equity Fund; AI US Bond Fund; and AI Global All-Weather Multi-Asset Fund, which originally came to market on February 1. Thailand Generali Life Assurance Partners with TISCO Group to Enhance Financial Security for Thai People. Kaohoon International, January 18, 2024. Generali signed a memorandum of understanding to be the life insurance provider for TISCO Group’s hire purchase and auto title loan customers. This involves crafting life insurance products covering auto loan protection and health insurance encompassing inpatient (IPD) and outpatient (OPD) medical treatments. Vietnam Peace of Mind 2.0. Product brochure, March 2024. Peace of Mind Life Insurance offers a short-term premium option for long-term protection. Its benefits include a rebate benefit of up to 110% of premium paid and increased protection with healthcare supplements. Living Benefits Bahrain Introducing ''‘MAعA’': Takaful International's new insurance product for Critical Illnesses. The Daily Tribune, February 8, 2024. Takaful International Co., a leading Islamic insurance company, has unveiled its latest product, '‘MAعA’'. This comprehensive coverage is specifically designed to protect individuals of all ages against a wide range of unexpected and life-threatening diseases, providing peace of mind during uncertain times. MAعA offers extensive coverage for a comprehensive list of critical conditions. Malaysia Introducing PRUMan & PRULady, Two Unique Plans for Him and Her | Prudential Malaysia Kuala Lumpur, January 15 2024. Prudential Malaysia Assurance Berhad (PAMB) has introduced PRUMan & PRULady, two comprehensive plans to address the unique and different health and risk needs specific to men and women. Philippines FWD’s Critical Illness Coverage Now Available for GCash Users. Business Mirror, March 21, 2024. The insurer’s BIG 3 Critical Illness Insurance that offers health coverage for heart attack, stroke, and early- to late-stage cancer is now available, nationwide, for users of the leading mobile wallet app. It is designed as pocket-friendly for as low as P298 annually, and claims are uncomplicated. Once availed, policyholders will get exclusive e-gift vouchers worth P100 via Giftaway and can be claimed 20 days after purchasing the policy. Singapore Singlife Elite Term II and Singlife Cancer Cover Plus II Offer Consumers Enhanced Protection. Press release, March 14, 2024. Singlife announced the launch of two upgraded insurance plans: Singlife Elite Term II and Singlife Cancer Cover Plus II. These plans aim to offer greater peace of mind and financial security to Singaporeans by addressing evolving needs and protection gaps. Singlife Elite Term II provides a wide range of coverage terms and add-on riders, including total and permanent disability, critical illness, and more. Singlife Cancer Cover Plus II is a standalone medical plan, covering the costs of outpatient cancer treatments, listed and unlisted drug treatments, outpatient services, and selected cancer treatments. Etiqa Singapore Debuts Critical Illness Insurance Solution. Insurance Business, March 9, 2024. The new policy named Essential critical secure aims to offer wide-ranging and cost-effective coverage for 111 critical illness and mental health conditions spanning different illness stages. The plan features a novel continuous care benefit, which provides monthly cash disbursements up to 200% of the insured sum, alongside a lump-sum payment for severe critical illness claims. AIA SG Bridges Critical Illness Knowledge Gap with Hilarious Campaign. Asia Advisers Network, March 5, 2024. The AIA UCC plan offers extensive coverage of 150 medical conditions and 73 critical illnesses across early, intermediate, and major stages. Consumers in Singapore are Inadequately Protected Against Increasing Cancer Cases and Relapses. Press release, January 9, 2024. AIA launched the AIA Ultimate Critical Cover (AIA UCC), aimed at boosting critical illness coverage. The plan covers over 150 medical conditions – the highest in the market – and 73 critical illnesses across early, intermediate, and major stages. The plan provides the market’s first unlimited reset benefit which allows for unlimited claims until the end of the policy term. Thailand ‘SmartCare Cancer’ by AXA Thailand General Insurance – A Pivotal Component of Your Health Management. Destination Thailand, February 2, 2024. In Thailand cancer remains a leading cause of death, often striking without early symptoms. ‘SmartCare Cancer’ by AXA Thailand General Insurance is a pivotal component of your global health management. Agents and Brokers Vietnam Manulife Vietnam pioneers in innovation, applying technology so that 100% of customers are fully and accurately consulted. Press release, January 2024. M-Pro allows Manulife Vietnam to independently evaluate the content of agents' advice from all distribution channels before issuing a contract, ensuring that 100% of customers are fully and accurately consulted. Customers will be identified electronically by facial recognition technology and asked to confirm personally provided information as well as the content the insurance agent advised. (Text in Vietnamese) Alternative Distribution India PayNearby and Star Health Unite to Offer Health Cover to Uninsured and Under-Served Across Bharat. Business News Week, January 5, 2024. PayNearby and Star Health and Allied Insurance have recently formed a strategic collaboration aimed at enhancing the accessibility and affordability of health insurance coverage throughout the country. Customers will now be able to conveniently buy tailored insurance offerings at their nearest retail store, assisted by their trusted local retailers. Philippines Bayad, Sun Life Grepa Partner for Payment System. Manila Bulletin, January 3, 2024. Bayad, an outsourced payment collection system, has partnered with Sun Life Grepa Financial Inc. (Sun Life Grepa) to make life insurance products available to Bayad subscribers. The partnership will allow Bayad to offer a variety of insurance plans directly through its mobile application, Bayad App. The app will also enable subscribers to make monthly payments for insurance premiums. Bancassurance Bangladesh Standard Chartered Bank Launches Bancassurance with MetLife. United News of Bangladesh, March 3, 2024. Standard Chartered Bangladesh (SCB) has launched its Bancassurance services as a strategic initiative aimed at providing comprehensive financial solutions to valued customers, in partnership with MetLife Bangladesh. Standard Chartered Bangladesh is the first international bank to launch Bancassurance in Bangladesh. In May of 2023, the bank pioneered the nation's first insurance tagged credit card – the Assurance Card – in partnership with MetLife and Mastercard. City Bank receives BB Approval for Bancassurance Business. Dhaka Tribune, January 24, 2024. City Bank received approval from Bangladesh Bank to start bancassurance business with Guardian Life Insurance Ltd. This approval will allow City Bank to market and sell insurance products from its branches and other channels. Guardian Life Insurance, Dutch-Bangla Bank PLC Announce Bancassurance Partnership. Dhaka Tribune, January 13, 2024. Guardian Life Insurance Limited and Dutch-Bangla Bank PLC have recently signed a partnership agreement to initiate Bancassurance operations. This collaboration will open a broadened scope for customers to engage with innovative insurance solutions of Guardian Life Insurance Limited. Pragati Life Insurance, Mutual Trust Bank Partner to Offer Life Insurance Solutions through Bancassurance Agreement. The Digital Banker, January 9, 2024. Mutual Trust Bank PLC (MTB) customers will be able to conveniently access and purchase Pragati Life’s diverse range of insurance products, including health insurance, education insurance, and other savings-oriented life insurance plans. Mutual Trust Bank has an extensive network of branches. Mutual Trust Bank and Green Delta Insurance Company Ink Historic Bancassurance Deal. Press release, January 4, 2024. Mutual Trust Bank (MTB) and Green Delta Insurance Company have signed a historic Bancassurance agreement, enabling customers of MTB to purchase non-life insurance products directly through the bank. These products include health insurance and travel insurance. BRAC Bank and MetLife Announce Bancassurance Partnership. Dhaka Tribune, December 31, 2023. BRAC Bank and MetLife have announced a historic collaboration to provide Bancassurance. This service will provide BRAC Bank customers access to MetLife’s extensive life insurance options. The products will be available through Brac Bank’s extensive network, including the bank’s branches, sub-branches, and SME Units. Malaysia FWD Inks Major Bancassurance Deal in Malaysia. Insurance Business, January 30, 2024. FWD Insurance has entered into a distribution agreement with Bank Simpanan Nasional (BSN) under which FWD Insurance will become the exclusive provider of life insurance products and protection solutions to BSN customers. These efforts are further supported by 120 investment and wealth advisors and 2,400 Ejen Bank BSN agents nationwide. BSN operates 387 branches and serves 9 million customers. Sri Lanka Pan Asia Bank Partners AIA Insurance to Bring World-Class Protection Health and Investment Coverage to Valued Customers. The Island, March 5, 2024. Reaffirming its customer-centric focus, Pan Asia Bank has forged a strategic partnership with AIA Insurance Lanka, to provide comprehensive insurance solutions including protection, health, and investment solutions. Thailand Prudential Enters Bancassurance Partnership with CIMB Thai. Press release, January 12, 2024 Prudential plc has announced that Prudential Life Assurance (Thailand) Public Company (PLT) has signed a 10-year bancassurance partnership with CIMB Thai Bank Public Company, where PLT will become the exclusive life insurance partner for CIMB Thai in Thailand. Streamlining Process Bahrain Solidarity Unveils AI-powered WhatsApp Service. Zawya, January 4, 2024. Solidarity Bahrain has announced the launch of a cutting-edge AI-powered WhatsApp service. The WhatsApp chat service is simple, convenient, and secure with 24/7 availability. The chatbot is available for Solidarity Bahrain customers and offers prompt and automated digital services such as issuance of new insurance, policy renewal, claim registration, obtaining policy documents, placing a video insurance call with an agent, finding branch timings, and locating the nearest branch by sharing the current location. India Cover360.in: Empowering the Insurance Journey with Confidence and Clarity. Business Standard, March 19, 2024. Cover360.in has a standout feature – a robust comparison service that empowers users to make informed decisions by evaluating health and term life insurance offerings from various insurance companies. Salesforce Partners with IndiaFirst Life to Enhance Customer Experience and Boost Operational Efficiency. Dataquest, March 20, 2024. Leveraging Salesforce Financial Service Cloud, IndiaFirst Life aims to streamline customer interactions, optimize data management, foster team collaboration, and elevate its customer service capabilities. IndiaFirst Life will gain a comprehensive 360-degree view of customers, enabling personalized interactions and automated workflows to optimize efficiency. SBI Life Insurance Redefines Customer Service; Launches 24x7 Inbound Helpline for Non-Residential Indians (NRIs) to Make Insurance Products and Services Accessible Globally. Press release, February 22, 2024. SBI Life Insurance launched an exclusive 24x7 Inbound Helpline for Non-Resident Indians to provide global accessibility of after-sale services. Customers residing anywhere outside India can leverage this premium service by dialing the dedicated helpline number. Vietnam Cathay Insurance Vietnam and SAWAD Team Up on Dual Finance Offering. Yahoo! Finance, December 29, 2023. Cathay Insurance Vietnam has announced a strategic partnership with SAWAD to introduce a “Dual Finance” insurance programme. The new offering aims to simplify the process for customers seeking financial support and mandatory insurance coverage. Wellness Hong Kong Bowtie Partners with CUHK Medical Centre to Launch the "Medical Insurance + Wellness" Package. Blog, April 11, 2024. The CUHKMC Wellness Package promotes a one-stop “Medical Insurance + Wellness” solution for customers residing in different regions, enabling them to enjoy high-end private medical services at an affordable price. CUHKMC is part of the pilot program. Bowtie will provide full reimbursement for a wide range of package fees, including 139-day procedures and 228 inpatient operation/procedures packages.
ASIA
Group Australia and New Zealand nib New Zealand rolls out product refresh to enhance member value and experience. Press release, February 2, 2024. These changes, such as higher benefit limits and broader coverage for some products, will benefit many members and ensure more consistent and contemporary levels of cover across the product range. The changes will be introduced over a 12-month period. nib will notify members of any changes at the date of their policy renewal and the changes will be automatically applied. Health Australia & New Zealand AIA NZ Introduces Cover for Prophylactic Surgery Following Cancer. Press release, March 12, 2024. AIA NZ has introduced cover for prophylactic surgery after cancer. It will now include preventative surgery for breast or ovarian cancer. Previously, AIA NZ’s health insurance products specifically excluded all preventative treatment, including those related to cancer.
Combination Products Canada Securian Canada and CAA Partner to Offer New Life and Health & Dental Insurance Solutions. Business Wire, January 17, 2024. Through this partnership, CAA members have access to a streamlined portfolio of life and health & dental insurance products. The products will be available at preferred prices and delivered through a user-friendly digital interface. Group Canada Manulife to partner with Aeroplan: Group benefit members will be able to gain rewards through wellness activities. Press release, January 23, 2024. Manulife Financial has entered a multi-year partnership with travel loyalty program, Aeroplan. Eligible customers will have the ability to earn Aeroplan points by engaging in behaviours and activities that encourage health and wellbeing. Manulife will launch a modernized and upgraded benefits platform to offer members a digital-first user experience that integrates health, wellness, and benefits into one place. Life Canada BMO Insurance Enhances its Accelerated Underwriting and Simplifies Requirements for New Life Insurance Coverage. Press release, February 26, 2024. BMO Insurance announced enhancements to its accelerated underwriting program. The enhancements help facilitate faster case processing, improving productivity for financial advisors, and the electrocardiogram (ECG) requirement has been removed for all life products. Securian Canada and CAA partner to offer new life and health & dental insurance solutions. Press release, January 18, 2024. The Canadian Automobile Association (CAA) has entered a strategic partnership with insurance company Securian Canada. Through this new partnership, CAA introduced an innovative suite of insurance products and a digital-first customer experience. CAA Members have access to a streamlined portfolio of life and health & dental insurance products, available at preferred prices for members.
Group Rwanda Britam Rwanda Launches New Medical Insurance Product. Press Release, January 30, 2024 Britam launched Ramba na Britam, a unique and affordable medical insurance product specifically designed for organized groups. It offers comprehensive coverage including inpatient, outpatient, and funeral expenses. The policy is renewable annually though it has an expiry age of 70 years. The application process is available at any assigned Britam intermediaries or distribution channels. Health Ghana GLICO Healthcare Re-launches Sunkwa Health Plan and Unveils e-Health App. Business and Financial Times, January 24, 2024. GLICO Healthcare announced the re-launch of its Sunkwa Health Plan and the introduction of its e-Health App. This digital platform is designed to provide subscribers with convenient access to health information, telemedicine services, and well-being features. Nigeria 9mobile Unites with Plug Insure to Unveil Affordable Healthcare Coverage. Daily Independent, January 11, 2024. 9mobile, in partnership with PlugInsure and Axa Mansard, has unveiled an innovative health insurance product – SureCare – for Nigerians. SureCare offers pocket-friendly health insurance that guarantees customers’ health coverage from as little as N100 monthly. Spain Mutua Madrileña Launches a New Insurance with Guaranteed Profitability of 2.75%. EPrime Feed, January 18, 2024. Mutua Madrileña has launched the Savings Plan Plus Fidelidad V, a new life-savings insurance that offers a guaranteed gross return of 3.25% during the first year, and a return net of expenses of 2.75%. The plan includes a death benefit where beneficiaries will receive the savings existing at that time, plus an additional capital of 10% of the accumulated savings. Mapfre Launches a Savings Insurance Policy with Guaranteed Interest of Up to 2.7%. Eprimefeed, January 10, 2024. The “Millon Vida” savings insurance plan has a maturity period of one year. In the event of death, the beneficiary is able to receive the capital equivalent to the capitalized premium at the technical interest rate higher than the effective one. Uganda Prudential Unveils Fully Refundable “Prudent Life Plan”. Pulse Africa Uganda, February 6, 2024. The Prudent Life Plan offers a 100% refund of paid premiums at maturity for those who outlive their policy term. The plan was designed to provide a safety net for families in the event of death or total permanent disability. United Kingdom Royal London Extends Online Trusts to Whole of Life. Press release, March 11, 2024. Royal London extends online trusts to Whole of Life (WOL) plans, making the process easier and more efficient for advisers. The new discretionary trust form includes cohabitees as beneficiaries, a first in the industry. Selecting the right trust for clients can now be completed online for WOL, Business, Relevant Life Plans, and Personal Menu Plans. Stubben Edge and Pulse Launch Groundbreaking Life Insurance Cover in Partnership with Dutch Reinsurer, De Hoop. Press release, January 11, 2024. Specialist Life will provide insurance coverage for pre-existing medical conditions including cancer, heart conditions, cystic fibrosis, HIV, and long COVID. The product will be delivered in collaboration with De Hoop, a Netherlands based reinsurer specializing in custom-made term life insurance in case of preexisting medical conditions. Specialist Life will be focused on U.K. residents, with a maximum sum assured of £850,000 for a maximum term of 10 years (with the flexibility to offer covers in excess of this). Guardian to expand product range to provide a choice of life covers. Press release, January 9, 2024. Life Essentials is a new, low-cost life cover. The Life Essentials includes a dual life approach, premium waiver (with a 26-week deferred period which pays out on ‘own job’), optional children’s critical illness protection, and beneficiary nomination through Payout Planner. Zimbabwe Old Mutual Launches Funeral Services in Masvingo. Business Times, March 6, 2024. The Old Mutual Flexi funeral policy provides individual plans that suit everyone’s financial circumstances, including Lite, Classic, Premium, and Supreme options. Some of the benefits include assistance in obtaining a death certificate, collection of the deceased to the parlour, and 24/7 access. Premiums are as low as $US3 per month. Agents and Brokers Portugal MetLife Launches New Website to Captivate Customers and Agents. Eco Seguros, March 11, 2024. The platform provides an online claims reporting tool and also a virtual assistant called AVA. In addition to these tools, the site provides information on Metlife's Life and Personal Accident insurance associated with home, credit, family, and senior, among others. Users can also select to communicate via telephone contact to receive a personalized protection proposal through the customer service line or by a MetLife agent. (Text in Portuguese) Alternative Distribution Ghana Donewell Insurance Enhances Insurance Purchase Experience through Digitalization. Business Ghana, January 27, 2024. ESI Donewell, the WhatsApp Chatbot, is a new, fast, and easy to use digital insurance distribution channel aimed at providing instant insurance purchase and renewal services directly through WhatsApp irrespective of time, day, and location. Bancassurance Egypt Allianz Egypt Partners with Suez Canal Bank to Foster Bancassurance Services. Arab Finance, February 5, 2024. Allianz Life Assurance Company Egypt, affiliated with Sanlam Allianz Africa, has signed a five-year partnership agreement with the Suez Canal Bank to widen the scope of its bancassurance services. The Suez Canal Bank has over 700 branches covering more than 19 Egyptian provinces. MetLife signs an agreement with EBank. Zawya, January 23, 2024. The partnership grants exclusive privileges to MetLife for a period of five years to market and offer a variety of insurance products. The products include, protection coverage, education plans, investment products, and retirement plans. EBank has a network of 610 branches across the country. Microinsurance Egypt Tanmeyah Expands Its Product Offering Through Innovative Micro Insurance Products with GIG Egypt ZAWYA by Refinitiv, press release, January 17, 2024. The collaboration allows Tanmeyah to broaden its offerings with innovative insurance products while GIG - Egypt will gain access to a vast new customer base tapping into Tanmeyah's network. The products will cover personal accidents, health (including cancer treatments and family health plans), and funeral expenses. Nigeria 9mobile Unites with Plug Insure to Unveil Affordable Healthcare Coverage. Independent Nigeria, January 11, 2024. 9mobile, in partnership with PlugInsure and Axa Mansard, has unveiled an innovative health insurance product – SureCare, for Nigerians. SureCare offers pocket-friendly health insurance that unequivocally guarantees customers’ health coverage from as little as N100 monthly. The product is specially designed to grant basic/premium healthcare access to low-income earners including pregnant women and customers who operate on a tight budget but are desirous of having guaranteed healthcare coverage. Streamlining Process France Allianz Partners Launches Its Allyz Assist Support and Services Platform. Press release, January 24, 2024. Allianz Partners has launched allyz mobile app in France, Germany, and the Netherlands. This is an important milestone in the expansion of Allianz Partners' digital platform. Customers can download the app and access unique benefits such as lounge access, advance claims processing, travel health information, and access to Doctor Chat when needed, anytime, anywhere. Switzerland Digital, Simple and Customer-Focused: Generali Switzerland Launches Chatbot in four Languages. Press release, February 1, 2024. Chatty is a chatbot available in four languages. Chatty has also been available in French, Italian, and English since the beginning of the year. It uses the latest generative AI and process automation technologies. Chatty uses natural, human-like dialogue to help select policies, answer questions about coverage, or provide initial assistance in the event of a claim. Technology United Kingdom WPA launches Digital Health app platform to help firms cut absenteeism. Health & Protection, February 26, 2024. WPA has launched a digital tool aimed at reducing absenteeism through better health. The app’s central hub contains health insights and tips ranging from fitness to sleep, guiding users towards proactive health management and illness prevention. Key features include symptom checker, GP and primary care services, mental health support, physiotherapy access, and wearables. Wellness United Kingdom Bupa Launches Whole of Workforce Health Service, Bupa Well+. Press release, March 5, 2024. Bupa Well+ is a health and wellbeing subscription service in the U.K. The services are offered digitally so employees can access them, at home or on the go, through the Bupa Touch app. The new service focuses on digital health and wellbeing solutions centred around prevention, diagnosis, and treatment.
Annuities United States Guardian launches new Registered Index-Linked Annuity, expanding company's market leading retirement annuity business. Press release, March 27, 2024. Guardian MarketPerform is a new Registered Index-Linked Annuity designed to help individuals build their retirement assets with a level of protection. Its features include limited exposure to market risk, potential for investment growth, and a curated range of investment options. Delaware Life Insurance Company Launches Innovative Fixed Index Annuity with Premium Bonus: PrimeStart Bonus 10. Yahoo Finance, March 25, 2024. PrimeStart Bonus 10 is a flexible-premium fixed index annuity. It features a 10% premium bonus, interest crediting, and a flexible index account. Allianz Life Launches New Accumulation Annuity. Business Wire, March 19, 2024. Allianz Accumulation Advantage is a fixed index annuity. It combines powerful accumulation potential with a premium bonus; signature Allianz innovations like Index Lock, which gives clients the control to lock in an index value at any point once per crediting period[ii]; and multi-year point-to-point crediting with participation rates and flexible design. Allianz Accumulation Advantage 7, a new FIA with a shorter seven-year withdrawal charge, has also been added to its suite of products. Lincoln Financial Group Enhances Its Fixed Indexed Annuities with Innovative Crediting Strategies. Business Wire, March 13, 2023. The Dual Trigger account option has been introduced for all Lincoln Financial fixed indexed annuities. It offers upside growth potential in up, flat, or down markets with 100% downside protection. Lincoln is also introducing the 1 Year S&P 500 10% Daily Risk Control Trigger for Lincoln OptiBlend fixed indexed annuity to offer opportunities for more growth potential. F&G Annuities & Life Launches Its First Registered Index-Linked Annuity, F&G Confidence Builder. PR Newswire, February 13, 2024. FG has launched its first Registered Index-Linked Annuity (RILA), F&G Confidence Builder. Confidence Builder personalizes investment strategies through customizable crediting periods. Prudential launches SimplyIncome for workplace retirement plans on Fidelity Investments™ platform. Press release, January 25, 2024. Prudential launches SimplyIncome for workplace retirement plans on Fidelity Investments™ TM platform. Prudential SimplyIncome is a new single-premium immediate annuity, or SPIA – within employer-based retirement plans. This option will convert participants’ retirement savings into a protected stream of income. Fidelity's Guaranteed Income Direct Solution Available Nationally, Enabling Employees to Convert Retirement Savings into Lifetime Income. Press release, January 25, 2024. Guaranteed income direct is a new digital solution that allows employees to Convert 401(k), 403(b), or 457(b) savings into an Immediate Income Annuity. Guaranteed Income Direct allows employees to set up pension-like payments by purchasing an immediate income annuity through an insurer selected by an employer. The solution offers access to lifetime income for employees at all savings levels. Prudential Launches Simplyincome for Workplace Retirement Plans on Fidelity Investments Platform. Press release, January 25, 2024. Prudential recently launched Prudential SimplyIncome – a new single-premium immediate annuity, or SPIA – within employer-based retirement plans administered by Fidelity Investments. Nassau Financial Group Launches Innovative New Fixed Indexed Annuity Product. Business Wire, January 16, 2024. Nassau Income Accelerator is a single premium fixed indexed annuity with flexible guaranteed lifetime income options. Nassau Income Accelerator can help individuals delay their claim on Social Security and other retirement benefits and achieve a higher annual guaranteed income for life. Penn Mutual Expands Annuity Portfolio with Deferred Variable Annuity (DVA). Press release, January 10, 2024. The DVA offers a diverse selection of lower-fee investment options managed by Vanguard. It includes four optional riders, including two competitive income riders. There are no surrender charges on annual withdrawals up to 10% of the client’s premium payments. Group United States MetLife launches MetLife Spotlite on Oral Health Program, Unlocking Value-based Dental Care for Employees. Market Screener, March 12, 2024. The MetLife SpotLite on Oral Health is a new Preferred Dentist Program (PDP). It helps employees connect with designated dental providers through a proprietary evaluation process and simplified digital experience. The MetLife approach rewards qualifying PDP providers for quality of outcomes. Voya Financial Expands Its Workplace Benefits Offerings with New Supplemental Health Insurance Solution. Press release, February 21, 2024. Voya Protect is a new Group Limited Benefit Insurance plan. It is a supplemental health offering that is designed to pay benefits quickly and easily when covered conditions are diagnosed. It pays benefits for more than 13,000 covered conditions. There are no limitations or exclusions for pre-existing conditions and no medical underwriting requirement. New York Life Launches Voluntary Benefits Designed to Support Employees' Financial Wellbeing. Yahoo! Finance, January 29, 2024. New York Life launched a new portfolio of voluntary benefits that include accident, critical illness, and hospital indemnity insurance. New York Life's voluntary benefits offer employee-centric, tailored plans. They also cover a range of health-related costs including travel, lodging, and care for dependents and pets. Benefits with a Difference: Medavie Blue Cross Creates Family Benefit to Support the Journey to Parenthood. Newswire, January 16, 2024. Medavie Blue Cross has created the Family Building Benefit to help with eligible expenses associated with fertility treatments, surrogacy, and adoption. The Family Building Benefit that can be put towards fertility treatments included IVF, adoption fees, and other related expenses. Parento Launches Parental Leave Insurance with Joshu. Globe Newswire, January 11, 2024 Parento has successfully launched parental leave insurance on the Joshu Platform. Parento is reshaping the parental leave landscape by helping employers offer up to 16 weeks of gender-neutral paid parental leave, complemented by leave management and unlimited, high-touch parent support. Parento's program enables working parents to take the time they need to bond with their new children. Health United States Humana and DUOS Launch Groundbreaking Initiative Enhancing Care for U.S. Veteran Seniors. Press release, March 20, 2024. Humana Inc. and Duos announced a new collaborative program to enhance healthcare experiences and improve health outcomes for Louisiana Veteran members with chronic conditions. The new program connects Veterans with chronic conditions to DUOS, where participating members will complete an assessment of health-related needs and goals. The participants are then matched with benefits and resources. Clover Health Launches New Clinical Program in Partnership with Quartet Health to Address Serious Mental Illness. Press release, March 19, 2024. The program will increase the support and resources provided to Clover members with serious mental illness through the Company’s home-based care delivery unit, Clover Home Care. Clover Home Care delivers in-home care access, medication support, mental, and physical care coordination, as well as local community resource and transportation support. Priority Health Launches PriorityBABY, a Family-First Program for Parents, Caregivers and Babies. Press Release, March 7, 2024. PriorityBABY is a family-first program available to members with newly added newborn dependents. The program is designed to support parents, caregivers, and their babies up to the child’s second birthday by providing resources and answering common questions about infant health and safety. Liberty Bankers Insurance Group Introduces Four New Supplemental Health Products. PR Newswire, March 5, 2024. The launch of four new supplemental health products in addition to Hospital Indemnity Plus, the Plus Series product line now offers Accident Plus, Cancer Plus, Critical Care Plus, and Heart and Stroke Plus. The policies offer lump sum benefits paid directly to the policyowner regardless of any other coverage. Walgreens First Community Pharmacy to Accept a Broad Array of Medicare Advantage Supplemental Benefits Online and in App. Press release, February 27, 2024 Eligible Medicare Advantage members can now use their benefits to digitally purchase approximately 1,700 items for shipping, pickup, or same-day delivery. eHealth Unveils Groundbreaking "Advisor in the Room" Pilot Program, Bridging the Gap Between Phone and In-Person Support. Press release, February 26, 2024. The new pilot program – "Advisor in the Room" – that will transform a traditional phone call into a dynamic, visual experience. This technology will empower eHealth's benefit advisors, who are licensed insurance agents, to instantly appear on a customer's computer or phone screen upon request, fostering a deeper connection and personalized support. UnitedHealthcare Launches Program to Address Type 2 Diabetes in Owensboro Community. Press release, February 6, 2024. UnitedHealthcare has launched the UnitedHealthcare Catalyst program in Owensboro, Kentucky, to address type 2 diabetes. The program aims to improve health outcomes by promoting healthy habits and managing individuals with prediabetes. Those who enrol will be assigned an accredited community health worker as a case manager and receive personalized nutrition education. They will also have access to eye exams, as needed, for diabetic retinopathy. Blue Cross Blue Shield of Massachusetts Introduces New Women’s Health Offerings. MedCity News, February 5, 2024. Blue Cross Blue Shield of Massachusetts has launched a new reproductive health care team and has partnered with Maven Clinic for 24/7 reproductive health support. The collaboration gives Blue Cross' fully insured 51+ accounts access to Maven's Maternity Foundation program, which is also available as an optional service for self-insured accounts. The virtual provider offers family planning support, delivery and postpartum support, paediatric support, sleep coaching, mental health and nutrition services, adoption and surrogacy assistance, and menopause specialists. Alliant Insurance Services Launches Student Health Specialty for Higher Education. Morningstar, January 16, 2024. This specialty offers medical insurance for domestic and international students. The health insurance is tailored to fit seamlessly into the student lifestyle, addressing the unique health needs and challenges faced during academic years. The plan spans a comprehensive range of medical services and includes access to a broad network of healthcare providers and facilities. HaysMed Forges Partnership with UnitedHealthcare Marketplace Insurance Plan to Expand Healthcare Access and Coverage. Press release, January 12, 2024. HaysMed has partnered with UnitedHealthcare Marketplace Insurance Plan to expand healthcare access and coverage. Patients participating in the UHC Marketplace Plan will now be in-network for medical care received at HaysMed effective January 1, 2024. Amazon’s New Initiative Aims to Help People Discover Digital Health Benefits to Manage Chronic Conditions. Tech Crunch, January 8, 2024. The Health Conditions Programs make it easier for people to discover digital health benefits for managing chronic health conditions. Omada Health is Amazon’s new launch partner. Customers will be able to check their coverage, apply for programs, and manage their chronic conditions. Independence Blue Cross Inks Partnership to Expand Telehealth Services for Members. Philadelphia Business Journal, January 4, 2024. Independence Blue Cross, the region's largest health insurer, launched a new program this week to give its members greater access to virtual health care services. The deal includes a larger provider network, specialized lifestyle and chronic care programs, and reduced costs for members. Life Brazil Porto Seguro Launches New Life Insurance Coverage. Apolice, March 19, 2024. Porto Seguro launched a new coverage for Life Your Way. One of the company's life insurance solutions available is the "Expanded Family Funeral Assistance," which guarantees the inclusion of the insured's parents in services and reimbursement of funeral expenses. The Extended Family Funeral Assistance can be contracted by people up to 70 years of age and, for the insured's parents, there is no age limit, only a grace period of 150 days, except in cases of accident. (Text in Portuguese) United States Empower Launches Comprehensive Suite of New Retirement Income Solutions. Press release, March 21, 2024. The new offerings, to be launched in the coming weeks, will offer retirement plans multiple options designed to convert participant retirement savings into an income stream customized to their individual needs. They will include managed accounts with a guaranteed lifetime withdrawal benefit, a new target date fund series, a managed spend-down strategy and proprietary variable annuity, and access to an annuity marketplace. AuguStar Life Launches 20-Pay Option with Innovative Indexed Whole Life (IWL) Product. PR Newswire, February 28, 2024. AuguStar Life introduces 20-pay Prestige Indexed Whole Life insurance, expanding its portfolio with enhanced flexibility and growth potential. The Prestige IWL 20-pay option caters to both individual and business clients, offering flexibility within various financial plans. Transamerica Life Bermuda launches Genesis II Indexed Universal Life Insurance Plan for Wealth Maximization and Lifetime Protection. Media OutReach Newswire, February 19, 2024. The Genesis II Indexed Universal Life (Genesis II) has been enhanced. The upgraded IUL plan is designed to better empower high net worth individuals (HNWIs) to maximize and safeguard their wealth. Customers of Genesis II can opt for a fixed account, index accounts, a combination of both, and transfer funds across the accounts. Ameritas and Ethos Life Launch New Index Universal Life Product. PR Newswire, January 9, 2024 Ameritas and Ethos have launched a new index universal life insurance product exclusively through Ethos. The product combines a web-based process with the guidance of an agent, making it accessible to everyone. WorldTrips Launches Atlas Nomads for Remote Workers and Global Travelers. PR Newswire, January 4, 2024. Atlas Nomads is a new insurance product designed specifically for digital nomads and remote workers traveling and working abroad. It offers a travel health insurance option for remote workers, emergency travel benefits, and coverage for unexpected medical expenses. Living Benefits United States Sun Life partners with Somatus to Provide Comprehensive Services for Late-Stage Kidney Sisease and Cardiovascular Care. Press release, February 6, 2024. Through this partnership, Somatus will deliver a unique and coordinated care model for Sun Life's stop-loss members who have late-stage kidney disease and heart disease. Sun Life's solution, Kidney Care 360 and Heart Care 360, are aimed at two different patient populations, using one unique care management approach. Somatus focuses on whole-person care when it comes to both chronic kidney disease and congestive heart failure. Somatus' innovative and comprehensive care model leverages AI-driven technology to address patient care needs related to medication management, care coordination, nutritional support, and transitions of care support. Curative Insurance Company Adds GRAIL’s Galleri® Test to Member Benefits for Multi-Cancer Early Detection. Press release, February 1, 2024. Curative Insurance announced the availability of Galleri, a multi-cancer early detection (MCED) screening test to eligible insurance plan members. The Galleri test will be available to all members, across all plan types, who are over the age of 50 and to all other members with risk factors for developing cancer. The Galleri test is part of the expansive list of benefit offerings available for $0 copay and $0 deductible on Curative’s health insurance plan. HCSC Enhances Cancer Care Offerings for Members. Press release, January 25, 2024. Health Care Service Corporation (HCSC) is enhancing its cancer care offerings for members by introducing a new Cancer Services and Support program. The program combines the expertise of specialists, from around the country, with local care. One of the benefits is a holistic multi-disciplinary team which provide support for behavioural health needs for members diagnosed with cancer. Agents and Brokers Brazil Icatu Launches Platform to Improve Life Insurance Claims Experience. Apolice, February 20, 2024. Icatu launched a new platform to provide even more transparency and agility to the company's life insurance claim journey. new applicants will have an additional tool that will send information about each step of the process via SMS, email, as well as a follow-up interface, enabling a 100% digital and detailed status in all phases. After the claim is opened, the applicant receives updates on each of the steps of the process. In addition, they will be able to send pending documentation, view forms necessary to adjust the claim, and ask simple questions (FAQ) on the new Icatu platform. United States Buddy and Stripe Partner to Revolutionise Insurance E-Commerce. Fintech Global, March 21, 2024. The collaboration aims to advance e-commerce in the insurance industry, providing insurance companies, brokers, and distribution channels with seamless integration of insurance products into digital transactions. With Buddy’s ION™ engine, insurance products can be rapidly indexed, making them readily available for transactions in online environments. New iPipeline Technology Enables the Financial Industry to Seamlessly Track the Status of Clients’ Annuity Applications–in Real-Time. Press release, March 18, 2024. OneView™ is a breakthrough solution that seamlessly tracks, in real time, the progress and status of clients’ annuity orders. iPipeline designed OneView to simplify the application process across multiple insurance carriers. With its innovative and streamlined dashboard, OneView can easily and efficiently track pending orders with carriers from start to finish. Pacific Life Partners with State Farm. Coverager, February 22, 2024. State Farm agents will now be able to provide customers with a variable universal life insurance product backed by Pacific Life. Applied Systems Partners with Employee Navigator to Connect the Digital Roundtrip of Employee Benefits. Globe Newswire, February 6, 2024. The integration of Applied Epic and Applied Benefits Designer with Employee Navigator will enable seamless connectivity of critical plan data from quote to enroll. This will empower benefits brokers to manage each stage of the benefits lifecycle. Empyrean Launches Enhanced Benefits Capabilities to Support a Richer, More Connected Employee Experience. PR Newswire, February 1, 2024. The app and desktop solutions provide seamless and consistent user experiences. Empyrean's conversational AI chat has been enhanced to now include automated tasks, enabling immediate and accurate responses to employee queries and requests. Income Lab launches Life Hub financial planning tool as a stand-alone product. Press release, January 24, 2024. Life Hub is a financial planning tool that helps advisors take their clients to and through retirement in a clear and interactive way. Advisors can build, present, and update retirement plans for their clients and prospects in minutes, all on one screen. Plan construction and presentations are visual, and advisors can customize exactly which pieces of the plan to show so they can guide fruitful conversations with each client. Life Hub is priced at USD 49 per month or USD 399 per year, truly making it accessible for advisors to add to their tech stack. Flourish Announces Flourish Annuities, a Platform and Marketplace to Unlock $350B Annuity Market for RIAs. Yahoo! Finance, January 17, 2024. Flourish unveiled Flourish Annuities, a new way for RIAs to consider fee-based annuities as an option for client portfolios. To solve these challenges, Flourish Annuities developed a streamlined digital application process with the ability for advisors to pre-fill applications on behalf of clients. Additionally, integrations with major reporting and billing platforms make it easy for advisors to treat annuities like any other asset class. Sure Introduces Quote Assist to Empower Insurance Agents with Digital Tools and Generative AI to Personalize Quotes for Customers. PR Newswire, January 10, 2024. Quote Assist empowers insurance agents to easily generate and customize quotes for consumers as they look to purchase insurance. Quote Assist is currently available for all lines of business on the Sure Platform. Heartland National Life Launches New MYGA Through FireLight. Business Wire, January 9, 2024. Hexure announced Heartland National Insurance Company has implemented FireLight for e0submiision of its annuity business. With FireLight, Heartland National accelerated the launch of its new multi-year guaranteed annuity product while providing its agents and distribution partners a streamlined and efficient way to submit annuity business. Integrity Introduces LifeCENTER, a Transformational Technology Platform for Life Agents. PR Newswire, February 21, 2024. As a cloud-based platform, LifeCENTER empowers agents to efficiently manage client relationships and their policies from anywhere at any time. Life insurance agents can now spend more time and energy focusing on consumers and their needs and less on administrative tasks. Integrity's LifeCENTER technology supports all aspects of an agent's experience, including quoting, e-application submission, and comprehensive customer relationship management solutions. Streamlining Process United States Legal & General America Launches Life e-Tickets with Hexure for a Simplified, Accelerated Quote to Apply Experience. Yahoo! Finance, March 27, 2024. Legal & General America and Hexure collaborated to simplify the term life insurance purchase journey by introducing e-tickets for a streamlined application process. Advisors can now quote a term life insurance product and then submit an e-ticket within the same platform. The e-ticket is then sent directly to LGA’s digital platform, kicking off the application process without additional steps. Pacific Life and Employee Navigator Unveil Innovative Integration. Press release, March 21, 2024. Pacific Life announced its integration with Employee Navigator, automating employee benefits management with the advantages of application programming interface (API) technology. Pacific Life’s Workforce Benefits products will be available to groups of all sizes. Sapiens and Binah.ai Partner to Empower Global Life Insurers to Improve Risk Management with AI. Press release, February 5, 2024. Sapiens International Corporation and Binah.ai have partnered to empower global life insurers with AI for improved risk management and value-added services at reduced costs. Foyer Global Health and Galytix Launches Digital Health Platform for Insurers. Express Healthcare, January 25, 2024. Galytix, the GenAI platform, and Foyer Global Health, the international health insurer for expatriates and companies has announced a collaboration to implement HealthX, the digital health platform for insurers. HealthX allows users to score claims within seconds, removing the need for an individual to read through each claim and make decisions. Its “Health Agent” enables users to understand a topic faster, uncover new viewpoints and health insights, and get things done more easily. ipaymy Launches First-of-Its-Kind Automated Invoicing Platform, Fetch, for SMEs to Get Paid Easier, Better, and Faster. PR Newswire Asia, January 14, 2024. ipaymy unveils Fetch, an innovative, automated invoicing platform that redefines account receivables management for SMEs. Fetch is a groundbreaking invoicing platform designed to empower SMEs to get paid faster and on-time in Singapore, Hong Kong SAR, Malaysia, and Australia. Technology United States Walgreens First Community Pharmacy to Accept a Broad Array of Medicare Advantage Supplemental Benefits Online and in App. Press release, February 27, 2024. Walgreens announced it is the first community pharmacy to accept a broad array of Medicare Advantage supplemental benefits online, through Walgreens.com and the Walgreens app. Members can now shop from a catalog of approximately 1,700 products on Walgreens’ digital channels. CenterWell Pharmacy Furthers Digital Strategy with Launch of New Mobile App. Business Wire, February 20, 2024. CenterWell Pharmacy® has introduced a new mobile app that lets customers manage their prescriptions anywhere and anytime, streamlining prescription management. Introducing The VeracityRx App: Bringing the Power of AI to Prescription Drug Savings. PR Newswire, January 31, 2024. The VeracityRx App is a groundbreaking app leveraging advanced digital technology to significantly reduce pharmacy costs by 40-60% below the national average. The VeracityRx App, powered by Levrx, makes it easy for members to access and interact with pharmacy benefits. Sun Life U.S. Expands Health Navigator Offering to Group Benefits Clients to Help More Workers Access Healthcare. Press release, January 31, 2024. Sun Life U.S. is now offering its healthcare navigation and advisory service to the large employer group benefits market. It will broaden employees' access to care with personal guidance that helps them get the right medical diagnoses, doctors, and treatments for their specific needs. Health Navigator is available to covered employees and their dependents. Additional options in Health Navigator include Bill Resolve, which assists employees with understanding and resolving medical bills. IMG Mobile App Now Available with 24/7 Access to Coverage for All Customers. Press release, January 23, 2024 All IMG customers can now use the mobile app to conveniently access their coverage and assistance services, plus manage their account from their mobile device as they currently do with the web-based customer portal, MyIMG. Within IMG Mobile, customers can access their ID card and plan documents, update contact information, search provider networks, and file travel claims. Wellness United States IMG Mobile App Now Available with 24/7 Access to Coverage for All Customers. Press release, January 22, 2024. All IMG customers can now use the mobile app to conveniently access their coverage and assistance services, plus manage their account from their mobile device as they currently do with the web-based customer portal, MyIMG. Within IMG Mobile, customers can access their ID card and plan documents, update contact information, search provider networks, and file travel claims. HES Launches Innovative Employee Wellness Challenge, Colorful Choices. Business Wire, January 25, 2024. Colorful Choices is a healthy eating program that improves vitality and well-being by shifting eating patterns toward colorful, nutrient-dense vegetables and fruits. Designed as mobile-first, the program makes learning about healthy eating and tracking progress rewarding and fun. The program can be seamlessly integrated into employee wellness programs and existing health portals, or as a branded stand-alone challenge for health plan members. UnitedHealthcare Introduces New Resource to Help People Access a Curated Suite of Health Programs. Press release, January 18, 2024. UnitedHealthcare has introduced the UHC Hub, a resource that helps people access a curated suite of health programs. The UHC Hub offers a curated network of more than 20 health and wellbeing programs ranging from healthy living to complex health condition management and care resources. It provides an integrated, trusted source – accessible via advocates, myuhc.com, and the UnitedHealthcare app – to find and enroll in available solutions that are designed to meet specific needs, such as nutrition, financial planning, starting or expanding a family, cancer care, and caregiving resources. Hy-Vee and Soda Health Launch New Health and Wellness Benefits Program to Deliver Care that Supports, Incentivizes and Rewards Healthy Choices. Press release, January 10, 2024. The launch of this new Smart Benefits program allows recipients to receive personalized health and wellness benefits at all Hy-Vee locations across the retailer’s eight-state region. The program is available to participating Medicare Advantage, Medicaid, and employer benefits programs. The program is powered by Soda Health and helps individuals identify, access, and pay for the resources they need to achieve a healthy lifestyle. They can receive personalized benefits on fresh produce, over-the-counter pharmacy items, clinical services, and nutritional counselling.
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India Max Life launches SWAG (Smart Wealth Annuity Guaranteed) Pension Plan with customizable annuity options. CNBCTV18, January 23, 2024. SWAG Pension Plan is a non-linked, non-participating individual/group general annuity savings plan. Customers can tailor their own policies choosing from an array of annuity options. They can also choose from a range of “Return of Premiums” options. LIC's new Jeevan Dhara II Policy: Check 11 annuity options, eligibility conditions and more. CNBCTV18, January 20, 2024. Jeevan Dhara II is an individual, non-linked and non-participating individual savings deferred annuity plan.Policyholders can choose between regular premium and single premium, single life annuity, or joint life annuity. The mode of annuity payments can be yearly, half-yearly, quarterly, and monthly. ICICI Prudential Life Insurance launches ICICI Pru Guaranteed Pension Plan Flexi with Benefit Enhancer. Press release, January 17, 2024. ICICI Pru Guaranteed Pension Plan Flexi with Benefit Enhancer is an annuity plan that offers a 100% refund of premiums at any time from the date of purchase. Customers can choose from either the single life option, in which the income is paid for as long as they live, or a joint life option, where after one passes away, the income is paid to the secondary annuitant. United States Guardian launches new Registered Index-Linked Annuity, expanding company's market leading retirement annuity business. Press release, March 27, 2024. Guardian MarketPerform is a new Registered Index-Linked Annuity designed to help individuals build their retirement assets with a level of protection. Its features include limited exposure to market risk, potential for investment growth, and a curated range of investment options. Delaware Life Insurance Company Launches Innovative Fixed Index Annuity with Premium Bonus: PrimeStart Bonus 10. Yahoo Finance, March 25, 2024. PrimeStart Bonus 10 is a flexible-premium fixed index annuity. It features a 10% premium bonus, interest crediting, and a flexible index account. Allianz Life Launches New Accumulation Annuity. Business Wire, March 19, 2024. Allianz Accumulation Advantage is a fixed index annuity. It combines powerful accumulation potential with a premium bonus; signature Allianz innovations like Index Lock, which gives clients the control to lock in an index value at any point once per crediting period[ii]; and multi-year point-to-point crediting with participation rates and flexible design. Allianz Accumulation Advantage 7, a new FIA with a shorter seven-year withdrawal charge, has also been added to its suite of products. Lincoln Financial Group Enhances Its Fixed Indexed Annuities with Innovative Crediting Strategies. Business Wire, March 13, 2023. The Dual Trigger account option has been introduced for all Lincoln Financial fixed indexed annuities. It offers upside growth potential in up, flat, or down markets with 100% downside protection. Lincoln is also introducing the 1 Year S&P 500 10% Daily Risk Control Trigger for Lincoln OptiBlend fixed indexed annuity to offer opportunities for more growth potential. F&G Annuities & Life Launches Its First Registered Index-Linked Annuity, F&G Confidence Builder. PR Newswire, February 13, 2024. FG has launched its first Registered Index-Linked Annuity (RILA), F&G Confidence Builder. Confidence Builder personalizes investment strategies through customizable crediting periods. Prudential launches SimplyIncome for workplace retirement plans on Fidelity Investments™ platform. Press release, January 25, 2024. Prudential launches SimplyIncome for workplace retirement plans on Fidelity Investments™ TM platform. Prudential SimplyIncome is a new single-premium immediate annuity, or SPIA – within employer-based retirement plans. This option will convert participants’ retirement savings into a protected stream of income. Fidelity's Guaranteed Income Direct Solution Available Nationally, Enabling Employees to Convert Retirement Savings into Lifetime Income. Press release, January 25, 2024. Guaranteed income direct is a new digital solution that allows employees to Convert 401(k), 403(b), or 457(b) savings into an Immediate Income Annuity. Guaranteed Income Direct allows employees to set up pension-like payments by purchasing an immediate income annuity through an insurer selected by an employer. The solution offers access to lifetime income for employees at all savings levels. Nassau Financial Group Launches Innovative New Fixed Indexed Annuity Product. Business Wire, January 16, 2024. Nassau Income Accelerator is a single premium fixed indexed annuity with flexible guaranteed lifetime income options. Nassau Income Accelerator can help individuals delay their claim on Social Security and other retirement benefits and achieve a higher annual guaranteed income for life. Penn Mutual Expands Annuity Portfolio with Deferred Variable Annuity (DVA). Press release, January 10, 2024. The DVA offers a diverse selection of lower-fee investment options managed by Vanguard. It includes four optional riders, including two competitive income riders. There are no surrender charges on annual withdrawals up to 10% of the client’s premium payments.
Canada Securian Canada and CAA Partner to Offer New Life and Health & Dental Insurance Solutions Business Wire, January 17, 2024. Through this partnership, CAA members have access to a streamlined portfolio of life and health & dental insurance products. The products will be available at preferred prices and delivered through a user-friendly digital interface. Vietnam Shinhan Life Vietnam launches Endowment insurance product "Shinhan - sống an vui". Press Release, March 14, 2024. Shinhan – Sống An Vui is an effective combination of protection and savings to provide a comprehensive financial solution against risks, while helping customers and their families fulfil long-term plans with the backup fund for future needs. Shinhan – Sống An Vui offers a set of three advanced protection solutions, not only protecting against three common critical illnesses, but also sharing the burden of hospital bills and surgery costs. The plan provides medical support benefits, critical illness insurance benefits, and death or Total Permanent Disability (TPD) benefit. (Text in Vietnamese)
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Australia and New Zealand nib New Zealand rolls out product refresh to enhance member value and experience. Press release, February 2, 2024. These changes, such as higher benefit limits and broader coverage for some products, will benefit many members and ensure more consistent and contemporary levels of cover across the product range. The changes will be introduced over a 12-month period. nib will notify members of any changes at the date of their policy renewal and the changes will be automatically applied. Canada Manulife to partner with Aeroplan: Group benefit members will be able to gain rewards through wellness activities. Press release, January 23, 2024. Manulife Financial has entered a multi-year partnership with travel loyalty program, Aeroplan. Eligible customers will have the ability to earn Aeroplan points by engaging in behaviours and activities that encourage health and wellbeing. Manulife will launch a modernized and upgraded benefits platform to offer members a digital-first user experience that integrates health, wellness, and benefits into one place. Rwanda Britam Rwanda Launches New Medical Insurance Product. Press Release, January 30, 2024 Britam launched Ramba na Britam, a unique and affordable medical insurance product specifically designed for organized groups. It offers comprehensive coverage including inpatient, outpatient, and funeral expenses. The policy is renewable annually though it has an expiry age of 70 years. The application process is available at any assigned Britam intermediaries or distribution channels. United States MetLife launches MetLife Spotlite on Oral Health Program, Unlocking Value-based Dental Care for Employees. Market Screener, March 12, 2024. The MetLife SpotLite on Oral Health is a new Preferred Dentist Program (PDP). It helps employees connect with designated dental providers through a proprietary evaluation process and simplified digital experience. The MetLife approach rewards qualifying PDP providers for quality of outcomes. Voya Financial Expands Its Workplace Benefits Offerings with New Supplemental Health Insurance Solution. Press release, February 21, 2024. Voya Protect is a new Group Limited Benefit Insurance plan. It is a supplemental health offering that is designed to pay benefits quickly and easily when covered conditions are diagnosed. It pays benefits for more than 13,000 covered conditions. There are no limitations or exclusions for pre-existing conditions and no medical underwriting requirement. New York Life Launches Voluntary Benefits Designed to Support Employees' Financial Wellbeing Yahoo! Finance, January 29, 2024. New York Life launched a new portfolio of voluntary benefits that include accident, critical illness, and hospital indemnity insurance. New York Life's voluntary benefits offer employee-centric, tailored plans. They also cover a range of health-related costs including travel, lodging, and care for dependents and pets. Benefits with a Difference: Medavie Blue Cross Creates Family Benefit to Support the Journey to Parenthood. Newswire, January 16, 2024. Medavie Blue Cross has created the Family Building Benefit to help with eligible expenses associated with fertility treatments, surrogacy, and adoption. The Family Building Benefit that can be put towards fertility treatments included IVF, adoption fees, and other related expenses. Parento Launches Parental Leave Insurance with Joshu. Globe Newswire, January 11, 2024 Parento has successfully launched parental leave insurance on the Joshu Platform. Parento is reshaping the parental leave landscape by helping employers offer up to 16 weeks of gender-neutral paid parental leave, complemented by leave management and unlimited, high-touch parent support. Parento's program enables working parents to take the time they need to bond with their new children.
Australia & New Zealand AIA NZ Introduces Cover for Prophylactic Surgery Following Cancer. Press release, March 12, 2024. AIA NZ has introduced cover for prophylactic surgery after cancer. It will now include preventative surgery for breast or ovarian cancer. Previously, AIA NZ’s health insurance products specifically excluded all preventative treatment, including those related to cancer. Ghana GLICO Healthcare Re-launches Sunkwa Health Plan and Unveils e-Health App. Business and Financial Times, January 24, 2024. GLICO Healthcare announced the re-launch of its Sunkwa Health Plan and the introduction of its e-Health App. This digital platform is designed to provide subscribers with convenient access to health information, telemedicine services, and well-being features. Hong Kong FWD launches new VHIS vFamily Medical Plan First-in-Market [1] Family Booster for Child Option (Optional Benefit) [2]… Media, March 19, 2024. The new vFamily Medical Plan (“vFamily”) provides full coverage on a wide range of hospitalization and surgical expenses anywhere in the world. vFamily comes with the first-in-market Family Booster for Child Option (Optional Benefit) to offer comprehensive and relatively affordable medical protection solution for children. Sun Life Hong Kong Expands Healthcare Solutions in the Greater Bay Area, Leads the Market by Upgrading its Cashless Arrangement Service in Mainland China. Press release, February 1, 2024. Sun Life Hong Kong has enhanced its Cashless Arrangement Service in Mainland China. The service has been extended to nearly 2,000 hospitals, including all Class 3A public hospitals across Mainland China and all Class 2A public hospitals within the Greater Bay Area. Clients in Hong Kong and Mainland China can access comprehensive medical support services through eSunPro, a one-stop healthcare service platform. Cigna Healthcare Hong Kong Launches Cigna HealthFirst Elite 360 Medical Plan, Safeguarding Customer Health with Comprehensive and 360 Degree of Total Health Protection. PR Newswire Asia, January 31, 2024. Cigna HealthFirst Elite 360 Medical Plan covers customers at every stage of their health journey, from prevention, diagnosis, treatment, to recovery. Some of the key benefits of the plan include 360-degree total health protection, reward customers for staying healthy, unique one-on-one follow up Healthcare Concierge Service, and around the clock mental health support. India Bank of Maharashtra Launches ‘Mahashakti’ – a Women Cancer Coverage Program Powered by ManipalCigna Health Insurance Zee Biz News, March 11, 2024. The women cancer coverage program under ManipalCigna Flexicare Group Insurance Policy has been tailor-made to cater to Bank of Maharashtra customers. It offers comprehensive coverage for the treatment of ovarian cancer, breast cancer, and cervical cancer. Future Generali India Insurance Launches Women-Health Insurance Plan. AIP Online Bureau, Mar 9, 2024. Future Generali India Insurance Company launched a comprehensive women-health insurance plan. The company also unveiled the findings of #PowHer Survey – an exclusive survey focusing on gauging the pulse of Indian women when it comes to buying health insurance. Zuno General Insurance Unveils Zuno HealthPlus Policy: An Affordable & Customizable Health Insurance Plan. Business News Week, January 3, 2024. The Zuno HealthPlus Policy is a health insurance plan designed to provide tailored coverage and benefits for individuals and families at an affordable premium. This plan allows for coverage for up to nine members under a single policy. The policy offers long-term discounts of up to 10% and incentivizes an existing customer with a 5% discount when purchasing the policy. Japan Lifenet and Eisai Co-Develop Dementia Insurance “be”. Press release, March 21, 2024. “be”is a dementia insurance that supports early detection and treatment of dementia and mild cognitive impairment. It offers a lump-sum benefit for dementia diagnosis and a lump sum benefit for MCI diagnosis. Eisai’s brain health (brain performance) self-check tool NouKNOW (non-medical device) is planned to be offered to dementia insurance “be” policyholders as an ancillary service by the end of 2024. Nigeria 9mobile Unites with Plug Insure to Unveil Affordable Healthcare Coverage. Daily Independent, January 11, 2024. 9mobile, in partnership with PlugInsure and Axa Mansard, has unveiled an innovative health insurance product – SureCare – for Nigerians. SureCare offers pocket-friendly health insurance that guarantees customers’ health coverage from as little as N100 monthly. Pakistan Sehat Kahani Forging Strategic Slliance with EFU Health Insurance. The Nation, January 18, 2024. Sehat Kahani is forging a strategic alliance with EFU Health Insurance. EFU Health policyholders will have 24/7 access to general physicians and can schedule online appointments with preferred specialists for personalized and specialized care. Policyholders will be able to connect with 24/7 available general physicians within 60 seconds. Philippines Allianz PNB Life and KonsultaMD Team Up for 24/7 Teleconsultations. Manila Standard, January 14, 2024. Allianz PNB Life (AZPNBL) forged a strategic partnership with KonsultaMD, offering Filipinos free medical teleconsultations. The partnership enables more Filipinos to access professional advice and diagnoses from esteemed medical experts 24/7. Manulife, Forticare Partner to Expand Social Protection. The Philippine Star, January 2, 2024. Manulife Philippines has partnered with a health maintenance organization (HMO) company to expand social protection in the country. Forticare Health Systems will become the sole provider of group life insurance bundled with Forticare’s existing HMO products. Customers will be able to add these to their healthcare plans basic life insurance coverage, total and permanent disability, critical illness rider, hospital income, terminal illness, and family assistance. United Kingdom Bupa Launches Period Plan Benefit to All UK Employees. Press release, February 1, 2024. Bupa has launched the Period Plan benefit for all UK employees. The Period Plan is available free to all U.K.-based permanent and fixed-term colleagues at Bupa. The Plan provides a personalized care plan for individuals with heavy periods, for a full year, including access to GP appointments. Legal & General Partners with Perci Health, the UK’s First Virtual Cancer Survivorship Clinic. Press release, January 23, 2024. Legal & General Group Protection announces a partnership with Perci Health. Perci Health provides specialist clinical and vocational rehabilitation through virtual clinics with a large team of multidisciplinary cancer experts focused on the physical, psychological, and practical effects of cancer. This service is available to Legal & General Group Income Protection (GIP) participants. Zurich Launches Suicide Risk Support for Corporate Risk Customers. Press release, January 15, 2024. Zurich launches new toolkit, “Raise the Alarm,” to help clients whose customer-facing staff may be faced with a report of suicidal intent. The downloadable toolkit contains information and advice in line with recognized professional bodies, including mental health charities, medical specialists, and the NHS. Health Shield Launches New Cash Plan with Enhanced Benefits. Corporate Adviser, January 10, 2024. The Health Shield Select plan offers five levels of cover. The basic cover starts at just £4.77 a month per employee. All plan levels give customers access to SkinVision an app to detect early signs of skin cancer. Members will also get access to a virtual GP, mental health support, and access to a rewards platform. United States Humana and DUOS Launch Groundbreaking Initiative Enhancing Care for U.S. Veteran Seniors. Press release, March 20, 2024. Humana Inc. and Duos announced a new collaborative program to enhance healthcare experiences and improve health outcomes for Louisiana Veteran members with chronic conditions. The new program connects Veterans with chronic conditions to DUOS, where participating members will complete an assessment of health-related needs and goals. The participants are then matched with benefits and resources. Clover Health Launches New Clinical Program in Partnership with Quartet Health to Address Serious Mental Illness. Press release, March 19, 2024. The program will increase the support and resources provided to Clover members with serious mental illness through the Company’s home-based care delivery unit, Clover Home Care. Clover Home Care delivers in-home care access, medication support, mental, and physical care coordination, as well as local community resource and transportation support. Priority Health Launches PriorityBABY, a Family-First Program for Parents, Caregivers and Babies. Press Release, March 7, 2024. PriorityBABY is a family-first program available to members with newly added newborn dependents. The program is designed to support parents, caregivers, and their babies up to the child’s second birthday by providing resources and answering common questions about infant health and safety. Liberty Bankers Insurance Group Introduces Four New Supplemental Health Products. PR Newswire, March 5, 2024. The launch of four new supplemental health products in addition to Hospital Indemnity Plus, the Plus Series product line now offers Accident Plus, Cancer Plus, Critical Care Plus, and Heart and Stroke Plus. The policies offer lump sum benefits paid directly to the policyowner regardless of any other coverage. Walgreens First Community Pharmacy to Accept a Broad Array of Medicare Advantage Supplemental Benefits Online and in App. Press release, February 27, 2024 Eligible Medicare Advantage members can now use their benefits to digitally purchase approximately 1,700 items for shipping, pickup, or same-day delivery. eHealth Unveils Groundbreaking "Advisor in the Room" Pilot Program, Bridging the Gap Between Phone and In-Person Support. Press release, February 26, 2024. The new pilot program – "Advisor in the Room" – that will transform a traditional phone call into a dynamic, visual experience. This technology will empower eHealth's benefit advisors, who are licensed insurance agents, to instantly appear on a customer's computer or phone screen upon request, fostering a deeper connection and personalized support. UnitedHealthcare Launches Program to Address Type 2 Diabetes in Owensboro Community. Press release, February 6, 2024. UnitedHealthcare has launched the UnitedHealthcare Catalyst program in Owensboro, Kentucky, to address type 2 diabetes. The program aims to improve health outcomes by promoting healthy habits and managing individuals with prediabetes. Those who enrol will be assigned an accredited community health worker as a case manager and receive personalized nutrition education. They will also have access to eye exams, as needed, for diabetic retinopathy. Blue Cross Blue Shield of Massachusetts Introduces New Women’s Health Offerings. MedCity News, February 5, 2024. Blue Cross Blue Shield of Massachusetts has launched a new reproductive health care team and has partnered with Maven Clinic for 24/7 reproductive health support. The collaboration gives Blue Cross' fully insured 51+ accounts access to Maven's Maternity Foundation program, which is also available as an optional service for self-insured accounts. The virtual provider offers family planning support, delivery and postpartum support, paediatric support, sleep coaching, mental health and nutrition services, adoption and surrogacy assistance, and menopause specialists. Alliant Insurance Services Launches Student Health Specialty for Higher Education. Morningstar, January 16, 2024. This specialty offers medical insurance for domestic and international students. The health insurance is tailored to fit seamlessly into the student lifestyle, addressing the unique health needs and challenges faced during academic years. The plan spans a comprehensive range of medical services and includes access to a broad network of healthcare providers and facilities. HaysMed Forges Partnership with UnitedHealthcare Marketplace Insurance Plan to Expand Healthcare Access and Coverage. Press release, January 12, 2024. HaysMed has partnered with UnitedHealthcare Marketplace Insurance Plan to expand healthcare access and coverage. Patients participating in the UHC Marketplace Plan will now be in-network for medical care received at HaysMed effective January 1, 2024. Amazon’s New Initiative Aims to Help People Discover Digital Health Benefits to Manage Chronic Conditions. Tech Crunch, January 8, 2024. The Health Conditions Programs make it easier for people to discover digital health benefits for managing chronic health conditions. Omada Health is Amazon’s new launch partner. Customers will be able to check their coverage, apply for programs, and manage their chronic conditions. Independence Blue Cross Inks Partnership to Expand Telehealth Services for Members. Philadelphia Business Journal, January 4, 2024. Independence Blue Cross, the region's largest health insurer, launched a new program this week to give its members greater access to virtual health care services. The deal includes a larger provider network, specialized lifestyle and chronic care programs, and reduced costs for members.
Brazil Porto Seguro Launches New Life Insurance Coverage. Apolice, March 19, 2024. Porto Seguro launched a new coverage for Life Your Way. One of the company's life insurance solutions available is the "Expanded Family Funeral Assistance," which guarantees the inclusion of the insured's parents in services and reimbursement of funeral expenses. The Extended Family Funeral Assistance can be contracted by people up to 70 years of age and, for the insured's parents, there is no age limit, only a grace period of 150 days, except in cases of accident. (Text in Portuguese) Canada BMO Insurance Enhances its Accelerated Underwriting and Simplifies Requirements for New Life Insurance Coverage. Press release, February 26, 2024. BMO Insurance announced enhancements to its accelerated underwriting program. The enhancements help facilitate faster case processing, improving productivity for financial advisors, and the electrocardiogram (ECG) requirement has been removed for all life products. Securian Canada and CAA partner to offer new life and health & dental insurance solutions. Press release, January 18, 2024. The Canadian Automobile Association (CAA) has entered a strategic partnership with insurance company Securian Canada. Through this new partnership, CAA introduced an innovative suite of insurance products and a digital-first customer experience. CAA Members have access to a streamlined portfolio of life and health & dental insurance products, available at preferred prices for members. Hong Kong Sun Life Announces Private Health Advisory Services for HNW Clients. Insurance Business, January 27, 2024. Sun Life has announced a new initiative that seeks to offer high-net-worth (HNW) clients in Hong Kong, Singapore, and Taiwan access to PinnacleCare's specialised private health advisory services. PinnacleCare offers personalised guidance and access to leading medical experts and specialists in the United States. The services offer concierge support for scheduling and securing appointments. Hang Seng Bank Launches Investment and Life Insurance Plan. Press release, January 12, 2024. Hang Seng introduces the “IncomePower” life insurance plan. This plan offers the chance to generate an annual non-guaranteed income of up to 5% of the total premiums paid. The plan also includes the Medical Advance Benefit, which covers three major critical illnesses and has guaranteed acceptance without the need for a physical examination. HSBC Life Launches Flexible Multi-Currencies Savings Plan as Global Activities Increase. Asia Advisers Network, January 16, 2024. The HSBC Eminent Goal Multi-Currency Insurance Plan provides up to nine currency options. It caters for customers’ international education and retirement planning needs. The plan also provides guaranteed cash value, special bonus, and regular withdrawal options. Sun Life Hong Kong Maintains a Strong Growth Trajectory by Introducing the Upgraded SunJoy Global Injecting Momentum for Business Growth in 2024. Press release, January 5, 2024. Sun Life Hong Kong has introduced a new participating insurance plan called SunJoy Global. This plan is an enhanced version of the existing SunJoy product and comes with either a short 2-Pay or 5-Pay premium payment term. It focuses on investment opportunities that excel in environmental, social, and governance (ESG) qualities. Brand-New AIA “Global Power Multi-Currency Plan 3” Offers High Returns and Extra Flexibility. Media Outreach, January 2, 2024. AIA Hong Kong has launched the Global Power Multi-Currency Plan 3. The plan offers high returns and extra flexibility. The plan offers an enhanced currency exchange option which is exercisable from the second policy year. India Max Life Expands Portfolio with “Smart Wealth Advantage Guarantee Elite Plan”: An HNI Proposition which Prioritises Guaranteed Returns and Lifelong Protection. Press release, March 6, 2024. Max Life Insurance introduces the SWAG Elite Plan for High Net-worth Individuals, offering guaranteed returns and lifelong protection. The Smart Wealth Advantage Guarantee Elite Plan – SWAG Elite Plan, building on innovative solutions that cater to the needs of modern consumers. Bajaj Allianz Life Assured Wealth Goal Platinum Launched. Mint, February 9, 2024. Bajaj Allianz Life Insurance recently launched an inclusive scheme that enables policyholders to access assured early income. This plan empowers individuals to customise their financial strategies, facilitating the accomplishment of various life goals. ICICI Prudential Life Insurance Launches ICICI Pru Gold Pension Savings Plan. Product brochure, February 2024. ICICI Prudential Life Insurance recently introduced a new pension product called ICICI Pru Gold Pension Savings. The plan helps accumulate and grow savings over the period of the policy term. The plan also offers periodic complimentary health services and checkups during the policy term. LIC introduces unit-linked plan, Index Plus. What is it? Here are the key features. BT Money, February 6, 2024 LIC launched a new unit-linked life insurance policy called LIC’s Index Plus. It is a non-participating, regular premium, individual life insurance plan. The eligibility criteria for entry into the insurance plan specify a minimum age of 90 days (completed) and a maximum age at entry of 50 or 60 years (nearer birthday). SBI Life Insurance Launches Two New Term Plans with Return of Premiums; Aims to Provide Comprehensive Life Protection Along with Fulfilling Financial Commitments. PR Newswire, January 24, 2024. The two products are “SBI Life - Saral Swadhan Supreme” and “SBI Life - Smart Swadhan Supreme.” They provide a life cover, but also benefit of return of premiums at maturity. Customers have the flexibility to choose premium payment terms, policy duration, and premium payment frequency. Canara HSBC Life Insurance Launches iSelect Guaranteed Future Plus. CNBCTV18, January 24, 2024. Canara HSBC Life Insurance has launched iSelect Guaranteed Future Plus, a plan that provides life insurance and guaranteed benefits to secure goals. The plan provides financial security and stability to individuals and their families for different life stages and milestones. Japan Whole Life Insurance for the Three Major Diseases, Long-Term Care, and Physical Disability. Press release, March 2024. “Three major diseases, long-term care, and physical disability whole life insurance,'' is a product that provides lifelong protection against cancer, acute myocardial infarction, and stroke; nursing care; and physical disability. Participants choose from two types with different levels of surrender value, and it includes a “Policyholder agency rider,'' for a policyholder who is unable to express their intentions due to illness or injury and is unable to carry out procedures on their own. (Text in Japanese) Malaysia Manulife Malaysia and Alliance Bank Malaysia Berhad Jointly Launch EliteLife Signature Legacy, Combining Legacy Planning with Senior Care... Press release, March 13, 2024. Manulife Malaysia and Alliance Bank Malaysia Berhad launched EliteLife Signature Legacy, a comprehensive legacy insurance plan. It offers high insurance coverage, extended disability coverage plus loyalty rewards and bonuses. The plan helps safeguard lifelong legacy that includes senior care benefit to support individuals with disability coverage up to their golden age in the event of old age disability from age 70 onwards. Prudential Malaysia Partners with EPF to Empower Both EPF Members and Their Loved Ones Towards Financial Freedom. Press release, February 5, 2024. Prudential Malaysia introduced four new solutions which are easy to enrol, accessible, and provide protection value under the Employees Provident Fund (EPF) i-Lindung initiative. The cost-effective protection plans are made available exclusively to EPF members and allows them to protect both themselves and their immediate family members through the funds in their EPF Account 2. Tune Protect Life Introduces First In Market Flexible Insurance Solution with A Virtual Assistant on Its B2c Platform. Press release, January 22, 2024. FLEXIOne is a flexible insurance solution of life, medical and/or critical illness for the retail market. Targeting the millennials and Gen Zs, FLEXIOne provides customers the flexibility to mix and match the coverages according to their individual preferences, budget, and needs. FLEXIOne is suitable for young, first-time buyers and those on a shoe-string budget, with premiums starting as low as RM5 a month. Worry-free Travel with BigPay TravelEasy, Powered by Tune Protect. Press release, January 18, 2024. BigPay, the leading Southeast Asian finance app, launched its latest offering, BigPay TravelEasy – a comprehensive travel insurance underwritten by Tune Protect Malaysia. BigPay users will be able to apply for their travel insurance within the BigPay app, with the application process taking just minutes. It provides worldwide coverage with plans starting from RM35 for international trips. BigPay users will be insured for accidents and unexpected medical expenses and travel inconveniences. Allianz Malaysia Partnered with GivingHub to Empower Three Chosen Social Organisations in 2024. Press release, January 8, 2024. Allianz Malaysia Berhad Group (Allianz Malaysia) partnered with GivingHub, a platform that helps organizations give to charitable causes more effectively. The “Level Up Your Organisation!” program, a year-long capacity-building program, aims to transform organizations to become more effective and sustainable through a series of training and coaching sessions. Philippines AIA Philippines Launches Comprehensive Plan to Protect Filipinos at Any Life Stage. Business Mirror, March 20, 2024. AIA Philippines launched AIA Max Protect – a new product that provides maximum protection with comprehensive benefits. Three recommended AIA Max Protect packages are available for customers to choose from, depending on their needs. Optional benefits include enhanced accident protection, critical illness, hospitalization, or wealth transfer. Sun Life Launches New Investment-Linked Plan. Business World, March 5, 2024. Sun Life Philippines has launched a new peso-denominated, single-pay investment-linked insurance product. Sun Peso Maximizer (ProIncome) offers an annual income payout of 4.3% for seven years. The product also offers life insurance coverage with a guaranteed benefit of at least 125% of the one-time premium payment. South Korea Qraft Technologies Expands Partnership with Hana Life to Become World’s First Life Insurance Company to Deliver a Full Lineup of AI-powered Variable Life Insurance Products. Press release, March 2024. Qraft Technologies announces the launch of three additional variable life insurance funds powered by Qraft’s proprietary AI models. The new funds were developed in partnership with Hana Life Insurance, a subsidiary of Hana Financial Group, and include: The AI US Equity Fund; AI US Bond Fund; and AI Global All-Weather Multi-Asset Fund, which originally came to market on February 1. Spain Mutua Madrileña Launches a New Insurance with Guaranteed Profitability of 2.75%. EPrime Feed, January 18, 2024. Mutua Madrileña has launched the Savings Plan Plus Fidelidad V, a new life-savings insurance that offers a guaranteed gross return of 3.25% during the first year, and a return net of expenses of 2.75%. The plan includes a death benefit where beneficiaries will receive the savings existing at that time, plus an additional capital of 10% of the accumulated savings. Mapfre Launches a Savings Insurance Policy with Guaranteed Interest of Up to 2.7%. Eprimefeed, January 10, 2024. The “Millon Vida” savings insurance plan has a maturity period of one year. In the event of death, the beneficiary is able to receive the capital equivalent to the capitalized premium at the technical interest rate higher than the effective one. Zurich Partners with Hutchison Telecommunications. Coverager, January 6, 2024. This partnership will offer customers of Hutchison Telecommunications insurance products from Zurich. The initial product offered will be travel insurance, which will be available online. Customers will enjoy exclusive discounts. Thailand Generali Life Assurance Partners with TISCO Group to Enhance Financial Security for Thai People. Kaohoon International, January 18, 2024. Generali signed a memorandum of understanding to be the life insurance provider for TISCO Group’s hire purchase and auto title loan customers. This involves crafting life insurance products covering auto loan protection and health insurance encompassing inpatient (IPD) and outpatient (OPD) medical treatments. Uganda Prudential Unveils Fully Refundable “Prudent Life Plan”. Pulse Africa Uganda, February 6, 2024. The Prudent Life Plan offers a 100% refund of paid premiums at maturity for those who outlive their policy term. The plan was designed to provide a safety net for families in the event of death or total permanent disability. United Kingdom Royal London Extends Online Trusts to Whole of Life. Press release, March 11, 2024. Royal London extends online trusts to Whole of Life (WOL) plans, making the process easier and more efficient for advisers. The new discretionary trust form includes cohabitees as beneficiaries, a first in the industry. Selecting the right trust for clients can now be completed online for WOL, Business, Relevant Life Plans, and Personal Menu Plans. Stubben Edge and Pulse Launch Groundbreaking Life Insurance Cover in Partnership with Dutch Reinsurer, De Hoop. Press release, January 11, 2024. Specialist Life will provide insurance coverage for pre-existing medical conditions including cancer, heart conditions, cystic fibrosis, HIV, and long COVID. The product will be delivered in collaboration with De Hoop, a Netherlands based reinsurer specializing in custom-made term life insurance in case of preexisting medical conditions. Specialist Life will be focused on U.K. residents, with a maximum sum assured of £850,000 for a maximum term of 10 years (with the flexibility to offer covers in excess of this). Guardian to expand product range to provide a choice of life covers. Press release, January 9, 2024. Life Essentials is a new, low-cost life cover. The Life Essentials includes a dual life approach, premium waiver (with a 26-week deferred period which pays out on ‘own job’), optional children’s critical illness protection, and beneficiary nomination through Payout Planner. United States Empower Launches Comprehensive Suite of New Retirement Income Solutions. Press release, March 21, 2024. The new offerings, to be launched in the coming weeks, will offer retirement plans multiple options designed to convert participant retirement savings into an income stream customized to their individual needs. They will include managed accounts with a guaranteed lifetime withdrawal benefit, a new target date fund series, a managed spend-down strategy and proprietary variable annuity, and access to an annuity marketplace. AuguStar Life Launches 20-Pay Option with Innovative Indexed Whole Life (IWL) Product. PR Newswire, February 28, 2024. AuguStar Life introduces 20-pay Prestige Indexed Whole Life insurance, expanding its portfolio with enhanced flexibility and growth potential. The Prestige IWL 20-pay option caters to both individual and business clients, offering flexibility within various financial plans. Transamerica Life Bermuda launches Genesis II Indexed Universal Life Insurance Plan for Wealth Maximization and Lifetime Protection. Media OutReach Newswire, February 19, 2024. The Genesis II Indexed Universal Life (Genesis II) has been enhanced. The upgraded IUL plan is designed to better empower high net worth individuals (HNWIs) to maximize and safeguard their wealth. Customers of Genesis II can opt for a fixed account, index accounts, a combination of both, and transfer funds across the accounts. Ameritas and Ethos Life Launch New Index Universal Life Product. PR Newswire, January 9, 2024 Ameritas and Ethos have launched a new index universal life insurance product exclusively through Ethos. The product combines a web-based process with the guidance of an agent, making it accessible to everyone. WorldTrips Launches Atlas Nomads for Remote Workers and Global Travelers. PR Newswire, January 4, 2024. Atlas Nomads is a new insurance product designed specifically for digital nomads and remote workers traveling and working abroad. It offers a travel health insurance option for remote workers, emergency travel benefits, and coverage for unexpected medical expenses. Vietnam Peace of Mind 2.0. Product brochure, March 2024. Peace of Mind Life Insurance offers a short-term premium option for long-term protection. Its benefits include a rebate benefit of up to 110% of premium paid and increased protection with healthcare supplements. (Text in Vietnamese) Zimbabwe Old Mutual Launches Funeral Services in Masvingo. Business Times, March 6, 2024. The Old Mutual Flexi funeral policy provides individual plans that suit everyone’s financial circumstances, including Lite, Classic, Premium, and Supreme options. Some of the benefits include assistance in obtaining a death certificate, collection of the deceased to the parlour, and 24/7 access. Premiums are as low as $US3 per month.
Bahrain Introducing ''‘MAعA’': Takaful International's new insurance product for Critical Illnesses. The Daily Tribune, February 8, 2024. Takaful International Co., a leading Islamic insurance company, has unveiled its latest product, '‘MAعA’'. This comprehensive coverage is specifically designed to protect individuals of all ages against a wide range of unexpected and life-threatening diseases, providing peace of mind during uncertain times. MAعA offers extensive coverage for a comprehensive list of critical conditions. Malaysia Introducing PRUMan & PRULady, Two Unique Plans for Him and Her | Prudential Malaysia Kuala Lumpur, January 15 2024. Prudential Malaysia Assurance Berhad (PAMB) has introduced PRUMan & PRULady, two comprehensive plans to address the unique and different health and risk needs specific to men and women. Philippines FWD’s Critical Illness Coverage Now Available for GCash Users. Business Mirror, March 21, 2024. The insurer’s BIG 3 Critical Illness Insurance that offers health coverage for heart attack, stroke, and early- to late-stage cancer is now available, nationwide, for users of the leading mobile wallet app. It is designed as pocket-friendly for as low as P298 annually, and claims are uncomplicated. Once availed, policyholders will get exclusive e-gift vouchers worth P100 via Giftaway and can be claimed 20 days after purchasing the policy. Singapore Singlife Elite Term II and Singlife Cancer Cover Plus II Offer Consumers Enhanced Protection. Press release, March 14, 2024. Singlife announced the launch of two upgraded insurance plans: Singlife Elite Term II and Singlife Cancer Cover Plus II. These plans aim to offer greater peace of mind and financial security to Singaporeans by addressing evolving needs and protection gaps. Singlife Elite Term II provides a wide range of coverage terms and add-on riders, including total and permanent disability, critical illness, and more. Singlife Cancer Cover Plus II is a standalone medical plan, covering the costs of outpatient cancer treatments, listed and unlisted drug treatments, outpatient services, and selected cancer treatments. Etiqa Singapore Debuts Critical Illness Insurance Solution. Insurance Business, March 9, 2024. The new policy named Essential critical secure aims to offer wide-ranging and cost-effective coverage for 111 critical illness and mental health conditions spanning different illness stages. The plan features a novel continuous care benefit, which provides monthly cash disbursements up to 200% of the insured sum, alongside a lump-sum payment for severe critical illness claims. AIA SG Bridges Critical Illness Knowledge Gap with Hilarious Campaign. Asia Advisers Network, March 5, 2024. The AIA UCC plan offers extensive coverage of 150 medical conditions and 73 critical illnesses across early, intermediate, and major stages. Consumers in Singapore are Inadequately Protected Against Increasing Cancer Cases and Relapses. Press release, January 9, 2024. AIA launched the AIA Ultimate Critical Cover (AIA UCC), aimed at boosting critical illness coverage. The plan covers over 150 medical conditions – the highest in the market – and 73 critical illnesses across early, intermediate, and major stages. The plan provides the market’s first unlimited reset benefit which allows for unlimited claims until the end of the policy term. Thailand ‘SmartCare Cancer’ by AXA Thailand General Insurance – A Pivotal Component of Your Health Management. Destination Thailand, February 2, 2024. In Thailand cancer remains a leading cause of death, often striking without early symptoms. ‘SmartCare Cancer’ by AXA Thailand General Insurance is a pivotal component of your global health management. United States Sun Life partners with Somatus to Provide Comprehensive Services for Late-Stage Kidney Disease and Cardiovascular Care. Press release, February 6, 2024. Through this partnership, Somatus will deliver a unique and coordinated care model for Sun Life's stop-loss members who have late-stage kidney disease and heart disease. Sun Life's solution, Kidney Care 360 and Heart Care 360, are aimed at two different patient populations, using one unique care management approach. Somatus focuses on whole-person care when it comes to both chronic kidney disease and congestive heart failure. Somatus' innovative and comprehensive care model leverages AI-driven technology to address patient care needs related to medication management, care coordination, nutritional support, and transitions of care support. Curative Insurance Company Adds GRAIL’s Galleri® Test to Member Benefits for Multi-Cancer Early Detection. Press release, February 1, 2024. Curative Insurance announced the availability of Galleri, a multi-cancer early detection (MCED) screening test to eligible insurance plan members. The Galleri test will be available to all members, across all plan types, who are over the age of 50 and to all other members with risk factors for developing cancer. The Galleri test is part of the expansive list of benefit offerings available for $0 copay and $0 deductible on Curative’s health insurance plan. HCSC Enhances Cancer Care Offerings for Members. Press release, January 25, 2024. Health Care Service Corporation (HCSC) is enhancing its cancer care offerings for members by introducing a new Cancer Services and Support program. The program combines the expertise of specialists, from around the country, with local care. One of the benefits is a holistic multi-disciplinary team which provide support for behavioural health needs for members diagnosed with cancer.
Living Benefits
Brazil Icatu Launches Platform to Improve Life Insurance Claims Experience. Apolice, February 20, 2024. Icatu launched a new platform to provide even more transparency and agility to the company's life insurance claim journey. new applicants will have an additional tool that will send information about each step of the process via SMS, email, as well as a follow-up interface, enabling a 100% digital and detailed status in all phases. After the claim is opened, the applicant receives updates on each of the steps of the process. In addition, they will be able to send pending documentation, view forms necessary to adjust the claim, and ask simple questions (FAQ) on the new Icatu platform. (Text in Portuguese) Portugal MetLife Launches New Website to Captivate Customers and Agents. Eco Seguros, March 11, 2024. The platform provides an online claims reporting tool and also a virtual assistant called AVA. In addition to these tools, the site provides information on Metlife's Life and Personal Accident insurance associated with home, credit, family, and senior, among others. Users can also select to communicate via telephone contact to receive a personalized protection proposal through the customer service line or by a MetLife agent. (Text in Portuguese) United States Buddy and Stripe Partner to Revolutionise Insurance E-Commerce. Fintech Global, March 21, 2024. The collaboration aims to advance e-commerce in the insurance industry, providing insurance companies, brokers, and distribution channels with seamless integration of insurance products into digital transactions. With Buddy’s ION™ engine, insurance products can be rapidly indexed, making them readily available for transactions in online environments. New iPipeline Technology Enables the Financial Industry to Seamlessly Track the Status of Clients’ Annuity Applications–in Real-Time. Press release, March 18, 2024. OneView™ is a breakthrough solution that seamlessly tracks, in real time, the progress and status of clients’ annuity orders. iPipeline designed OneView to simplify the application process across multiple insurance carriers. With its innovative and streamlined dashboard, OneView can easily and efficiently track pending orders with carriers from start to finish. Pacific Life Partners with State Farm. Coverager, February 22, 2024. State Farm agents will now be able to provide customers with a variable universal life insurance product backed by Pacific Life. Applied Systems Partners with Employee Navigator to Connect the Digital Roundtrip of Employee Benefits. Globe Newswire, February 6, 2024. The integration of Applied Epic and Applied Benefits Designer with Employee Navigator will enable seamless connectivity of critical plan data from quote to enroll. This will empower benefits brokers to manage each stage of the benefits lifecycle. Empyrean Launches Enhanced Benefits Capabilities to Support a Richer, More Connected Employee Experience. PR Newswire, February 1, 2024. The app and desktop solutions provide seamless and consistent user experiences. Empyrean's conversational AI chat has been enhanced to now include automated tasks, enabling immediate and accurate responses to employee queries and requests. Income Lab launches Life Hub financial planning tool as a stand-alone product. Press release, January 24, 2024. Life Hub is a financial planning tool that helps advisors take their clients to and through retirement in a clear and interactive way. Advisors can build, present, and update retirement plans for their clients and prospects in minutes, all on one screen. Plan construction and presentations are visual, and advisors can customize exactly which pieces of the plan to show so they can guide fruitful conversations with each client. Life Hub is priced at USD 49 per month or USD 399 per year, truly making it accessible for advisors to add to their tech stack. Flourish Announces Flourish Annuities, a Platform and Marketplace to Unlock $350B Annuity Market for RIAs. Yahoo! Finance, January 17, 2024. Flourish unveiled Flourish Annuities, a new way for RIAs to consider fee-based annuities as an option for client portfolios. To solve these challenges, Flourish Annuities developed a streamlined digital application process with the ability for advisors to pre-fill applications on behalf of clients. Additionally, integrations with major reporting and billing platforms make it easy for advisors to treat annuities like any other asset class. Sure Introduces Quote Assist to Empower Insurance Agents with Digital Tools and Generative AI to Personalize Quotes for Customers. PR Newswire, January 10, 2024. Quote Assist empowers insurance agents to easily generate and customize quotes for consumers as they look to purchase insurance. Quote Assist is currently available for all lines of business on the Sure Platform. Heartland National Life Launches New MYGA Through FireLight. Business Wire, January 9, 2024. Hexure announced Heartland National Insurance Company has implemented FireLight for e-submiision of its annuity business. With FireLight, Heartland National accelerated the launch of its new multi-year guaranteed annuity product while providing its agents and distribution partners a streamlined and efficient way to submit annuity business. Integrity Introduces LifeCENTER, a Transformational Technology Platform for Life Agents. PR Newswire, February 21, 2024. As a cloud-based platform, LifeCENTER empowers agents to efficiently manage client relationships and their policies from anywhere at any time. Life insurance agents can now spend more time and energy focusing on consumers and their needs and less on administrative tasks. Integrity's LifeCENTER technology supports all aspects of an agent's experience, including quoting, e-application submission, and comprehensive customer relationship management solutions. Vietnam Manulife Vietnam pioneers in innovation, applying technology so that 100% of customers are fully and accurately consulted. Press release, January 2024. M-Pro allows Manulife Vietnam to independently evaluate the content of agents' advice from all distribution channels before issuing a contract, ensuring that 100% of customers are fully and accurately consulted. Customers will be identified electronically by facial recognition technology and asked to confirm personally provided information as well as the content the insurance agent advised. (Text in Vietnamese)
Agents and Brokers
Ghana Donewell Insurance Enhances Insurance Purchase Experience through Digitalization. Business Ghana, January 27, 2024. ESI Donewell, the WhatsApp Chatbot, is a new, fast, and easy to use digital insurance distribution channel aimed at providing instant insurance purchase and renewal services directly through WhatsApp irrespective of time, day, and location. India PayNearby and Star Health Unite to Offer Health Cover to Uninsured and Under-Served Across Bharat. Business News Week, January 5, 2024. PayNearby and Star Health and Allied Insurance have recently formed a strategic collaboration aimed at enhancing the accessibility and affordability of health insurance coverage throughout the country. Customers will now be able to conveniently buy tailored insurance offerings at their nearest retail store, assisted by their trusted local retailers. Philippines Bayad, Sun Life Grepa Partner for Payment System. Manila Bulletin, January 3, 2024. Bayad, an outsourced payment collection system, has partnered with Sun Life Grepa Financial Inc. (Sun Life Grepa) to make life insurance products available to Bayad subscribers. The partnership will allow Bayad to offer a variety of insurance plans directly through its mobile application, Bayad App. The app will also enable subscribers to make monthly payments for insurance premiums.
Alternative Distribution
Bangladesh Standard Chartered Bank Launches Bancassurance with MetLife. United News of Bangladesh, March 3, 2024. Standard Chartered Bangladesh (SCB) has launched its Bancassurance services as a strategic initiative aimed at providing comprehensive financial solutions to valued customers, in partnership with MetLife Bangladesh. Standard Chartered Bangladesh is the first international bank to launch Bancassurance in Bangladesh. In May of 2023, the bank pioneered the nation's first insurance tagged credit card – the Assurance Card – in partnership with MetLife and Mastercard. City Bank receives BB Approval for Bancassurance Business. Dhaka Tribune, January 24, 2024. City Bank received approval from Bangladesh Bank to start bancassurance business with Guardian Life Insurance Ltd. This approval will allow City Bank to market and sell insurance products from its branches and other channels. Guardian Life Insurance, Dutch-Bangla Bank PLC Announce Bancassurance Partnership. Dhaka Tribune, January 13, 2024. Guardian Life Insurance Limited and Dutch-Bangla Bank PLC have recently signed a partnership agreement to initiate Bancassurance operations. This collaboration will open a broadened scope for customers to engage with innovative insurance solutions of Guardian Life Insurance Limited. Pragati Life Insurance, Mutual Trust Bank Partner to Offer Life Insurance Solutions through Bancassurance Agreement. The Digital Banker, January 9, 2024. Mutual Trust Bank PLC (MTB) customers will be able to conveniently access and purchase Pragati Life’s diverse range of insurance products, including health insurance, education insurance, and other savings-oriented life insurance plans. Mutual Trust Bank has an extensive network of branches. Mutual Trust Bank and Green Delta Insurance Company Ink Historic Bancassurance Deal. Press release, January 4, 2024. Mutual Trust Bank (MTB) and Green Delta Insurance Company have signed a historic Bancassurance agreement, enabling customers of MTB to purchase non-life insurance products directly through the bank. These products include health insurance and travel insurance. BRAC Bank and MetLife Announce Bancassurance Partnership. Dhaka Tribune, December 31, 2023. BRAC Bank and MetLife have announced a historic collaboration to provide Bancassurance. This service will provide BRAC Bank customers access to MetLife’s extensive life insurance options. The products will be available through Brac Bank’s extensive network, including the bank’s branches, sub-branches, and SME Units. Egypt Allianz Egypt Partners with Suez Canal Bank to Foster Bancassurance Services. Arab Finance, February 5, 2024. Allianz Life Assurance Company Egypt, affiliated with Sanlam Allianz Africa, has signed a five-year partnership agreement with the Suez Canal Bank to widen the scope of its bancassurance services. The Suez Canal Bank has over 700 branches covering more than 19 Egyptian provinces. MetLife signs an agreement with EBank. Zawya, January 23, 2024. The partnership grants exclusive privileges to MetLife for a period of five years to market and offer a variety of insurance products. The products include, protection coverage, education plans, investment products, and retirement plans. EBank has a network of 610 branches across the country. Malaysia FWD Inks Major Bancassurance Deal in Malaysia. Insurance Business, January 30, 2024. FWD Insurance has entered into a distribution agreement with Bank Simpanan Nasional (BSN) under which FWD Insurance will become the exclusive provider of life insurance products and protection solutions to BSN customers. These efforts are further supported by 120 investment and wealth advisors and 2,400 Ejen Bank BSN agents nationwide. BSN operates 387 branches and serves 9 million customers. Sri Lanka Pan Asia Bank Partners AIA Insurance to Bring World-Class Protection Health and Investment Coverage to Valued Customers. The Island, March 5, 2024. Reaffirming its customer-centric focus, Pan Asia Bank has forged a strategic partnership with AIA Insurance Lanka, to provide comprehensive insurance solutions including protection, health, and investment solutions. Thailand Prudential Enters Bancassurance Partnership with CIMB Thai. Press release, January 12, 2024 Prudential plc has announced that Prudential Life Assurance (Thailand) Public Company (PLT) has signed a 10-year bancassurance partnership with CIMB Thai Bank Public Company, where PLT will become the exclusive life insurance partner for CIMB Thai in Thailand.
Egypt Tanmeyah Expands Its Product Offering Through Innovative Micro Insurance Products with GIG Egypt ZAWYA by Refinitiv, press release, January 17, 2024. The collaboration allows Tanmeyah to broaden its offerings with innovative insurance products while GIG - Egypt will gain access to a vast new customer base tapping into Tanmeyah's network. The products will cover personal accidents, health (including cancer treatments and family health plans), and funeral expenses. Nigeria 9mobile Unites with Plug Insure to Unveil Affordable Healthcare Coverage. Independent Nigeria, January 11, 2024. 9mobile, in partnership with PlugInsure and Axa Mansard, has unveiled an innovative health insurance product – SureCare, for Nigerians. SureCare offers pocket-friendly health insurance that unequivocally guarantees customers’ health coverage from as little as N100 monthly. The product is specially designed to grant basic/premium healthcare access to low-income earners including pregnant women and customers who operate on a tight budget but are desirous of having guaranteed healthcare coverage.
Bahrain Solidarity Unveils AI-powered WhatsApp Service. Zawya, January 4, 2024. Solidarity Bahrain has announced the launch of a cutting-edge AI-powered WhatsApp service. The WhatsApp chat service is simple, convenient, and secure with 24/7 availability. The chatbot is available for Solidarity Bahrain customers and offers prompt and automated digital services such as issuance of new insurance, policy renewal, claim registration, obtaining policy documents, placing a video insurance call with an agent, finding branch timings, and locating the nearest branch by sharing the current location. France Allianz Partners Launches Its Allyz Assist Support and Services Platform. Press release, January 24, 2024. Allianz Partners has launched allyz mobile app in France, Germany, and the Netherlands. This is an important milestone in the expansion of Allianz Partners' digital platform. Customers can download the app and access unique benefits such as lounge access, advance claims processing, travel health information, and access to Doctor Chat when needed, anytime, anywhere. India Cover360.in: Empowering the Insurance Journey with Confidence and Clarity. Business Standard, March 19, 2024. Cover360.in has a standout feature – a robust comparison service that empowers users to make informed decisions by evaluating health and term life insurance offerings from various insurance companies. Salesforce Partners with IndiaFirst Life to Enhance Customer Experience and Boost Operational Efficiency. Dataquest, March 20, 2024. Leveraging Salesforce Financial Service Cloud, IndiaFirst Life aims to streamline customer interactions, optimize data management, foster team collaboration, and elevate its customer service capabilities. IndiaFirst Life will gain a comprehensive 360-degree view of customers, enabling personalized interactions and automated workflows to optimize efficiency. SBI Life Insurance Redefines Customer Service; Launches 24x7 Inbound Helpline for Non-Residential Indians (NRIs) to Make Insurance Products and Services Accessible Globally. Press release, February 22, 2024. SBI Life Insurance launched an exclusive 24x7 Inbound Helpline for Non-Resident Indians to provide global accessibility of after-sale services. Customers residing anywhere outside India can leverage this premium service by dialing the dedicated helpline number. Switzerland Digital, Simple and Customer-Focused: Generali Switzerland Launches Chatbot in four Languages. Press release, February 1, 2024. Chatty is a chatbot available in four languages. Chatty has also been available in French, Italian, and English since the beginning of the year. It uses the latest generative AI and process automation technologies. Chatty uses natural, human-like dialogue to help select policies, answer questions about coverage, or provide initial assistance in the event of a claim. United States Legal & General America Launches Life e-Tickets with Hexure for a Simplified, Accelerated Quote to Apply Experience. Yahoo! Finance, March 27, 2024. Legal & General America and Hexure collaborated to simplify the term life insurance purchase journey by introducing e-tickets for a streamlined application process. Advisors can now quote a term life insurance product and then submit an e-ticket within the same platform. The e-ticket is then sent directly to LGA’s digital platform, kicking off the application process without additional steps. Pacific Life and Employee Navigator Unveil Innovative Integration. Press release, March 21, 2024. Pacific Life announced its integration with Employee Navigator, automating employee benefits management with the advantages of application programming interface (API) technology. Pacific Life’s Workforce Benefits products will be available to groups of all sizes. Sapiens and Binah.ai Partner to Empower Global Life Insurers to Improve Risk Management with AI. Press release, February 5, 2024. Sapiens International Corporation and Binah.ai have partnered to empower global life insurers with AI for improved risk management and value-added services at reduced costs. Foyer Global Health and Galytix Launches Digital Health Platform for Insurers. Express Healthcare, January 25, 2024. Galytix, the GenAI platform, and Foyer Global Health, the international health insurer for expatriates and companies has announced a collaboration to implement HealthX, the digital health platform for insurers. HealthX allows users to score claims within seconds, removing the need for an individual to read through each claim and make decisions. Its “Health Agent” enables users to understand a topic faster, uncover new viewpoints and health insights, and get things done more easily. ipaymy Launches First-of-Its-Kind Automated Invoicing Platform, Fetch, for SMEs to Get Paid Easier, Better, and Faster PR Newswire Asia, January 14, 2024. ipaymy unveils Fetch, an innovative, automated invoicing platform that redefines account receivables management for SMEs. Fetch is a groundbreaking invoicing platform designed to empower SMEs to get paid faster and on-time in Singapore, Hong Kong SAR, Malaysia, and Australia. Vietnam Cathay Insurance Vietnam and SAWAD Team Up on Dual Finance Offering. Yahoo! Finance, December 29, 2023. Cathay Insurance Vietnam has announced a strategic partnership with SAWAD to introduce a “Dual Finance” insurance programme. The new offering aims to simplify the process for customers seeking financial support and mandatory insurance coverage.
Streamlining Process
United Kingdom WPA launches Digital Health app platform to help firms cut absenteeism. Health & Protection, February 26, 2024. WPA has launched a digital tool aimed at reducing absenteeism through better health. The app’s central hub contains health insights and tips ranging from fitness to sleep, guiding users towards proactive health management and illness prevention. Key features include symptom checker, GP and primary care services, mental health support, physiotherapy access, and wearables. United States Walgreens First Community Pharmacy to Accept a Broad Array of Medicare Advantage Supplemental Benefits Online and in App. Press release, February 27, 2024. Walgreens announced it is the first community pharmacy to accept a broad array of Medicare Advantage supplemental benefits online, through Walgreens.com and the Walgreens app. Members can now shop from a catalog of approximately 1,700 products on Walgreens’ digital channels. CenterWell Pharmacy Furthers Digital Strategy with Launch of New Mobile App. Business Wire, February 20, 2024. CenterWell Pharmacy® has introduced a new mobile app that lets customers manage their prescriptions anywhere and anytime, streamlining prescription management. Introducing The VeracityRx App: Bringing the Power of AI to Prescription Drug Savings. PR Newswire, January 31, 2024. The VeracityRx App is a groundbreaking app leveraging advanced digital technology to significantly reduce pharmacy costs by 40-60% below the national average. The VeracityRx App, powered by Levrx, makes it easy for members to access and interact with pharmacy benefits. Sun Life U.S. Expands Health Navigator Offering to Group Benefits Clients to Help More Workers Access Healthcare. Press release, January 31, 2024. Sun Life U.S. is now offering its healthcare navigation and advisory service to the large employer group benefits market. It will broaden employees' access to care with personal guidance that helps them get the right medical diagnoses, doctors, and treatments for their specific needs. Health Navigator is available to covered employees and their dependents. Additional options in Health Navigator include Bill Resolve, which assists employees with understanding and resolving medical bills. IMG Mobile App Now Available with 24/7 Access to Coverage for All Customers. Press release, January 23, 2024 All IMG customers can now use the mobile app to conveniently access their coverage and assistance services, plus manage their account from their mobile device as they currently do with the web-based customer portal, MyIMG. Within IMG Mobile, customers can access their ID card and plan documents, update contact information, search provider networks, and file travel claims.
Hong Kong Bowtie Partners with CUHK Medical Centre to Launch the "Medical Insurance + Wellness" Package. Blog, April 11, 2024. The CUHKMC Wellness Package promotes a one-stop “Medical Insurance + Wellness” solution for customers residing in different regions, enabling them to enjoy high-end private medical services at an affordable price. CUHKMC is part of the pilot program. Bowtie will provide full reimbursement for a wide range of package fees, including 139-day procedures and 228 inpatient operation/procedures packages United Kingdom Bupa Launches Whole of Workforce Health Service, Bupa Well+. Press release, March 5, 2024. Bupa Well+ is a health and wellbeing subscription service in the U.K. The services are offered digitally so employees can access them, at home or on the go, through the Bupa Touch app. The new service focuses on digital health and wellbeing solutions centred around prevention, diagnosis, and treatment. United States IMG Mobile App Now Available with 24/7 Access to Coverage for All Customers. Press release, January 22, 2024. All IMG customers can now use the mobile app to conveniently access their coverage and assistance services, plus manage their account from their mobile device as they currently do with the web-based customer portal, MyIMG. Within IMG Mobile, customers can access their ID card and plan documents, update contact information, search provider networks, and file travel claims. HES Launches Innovative Employee Wellness Challenge, Colorful Choices. Business Wire, January 25, 2024. Colorful Choices is a healthy eating program that improves vitality and well-being by shifting eating patterns toward colorful, nutrient-dense vegetables and fruits. Designed as mobile-first, the program makes learning about healthy eating and tracking progress rewarding and fun. The program can be seamlessly integrated into employee wellness programs and existing health portals, or as a branded stand-alone challenge for health plan members. UnitedHealthcare Introduces New Resource to Help People Access a Curated Suite of Health Programs. Press release, January 18, 2024. UnitedHealthcare has introduced the UHC Hub, a resource that helps people access a curated suite of health programs. The UHC Hub offers a curated network of more than 20 health and wellbeing programs ranging from healthy living to complex health condition management and care resources. It provides an integrated, trusted source – accessible via advocates, myuhc.com, and the UnitedHealthcare app – to find and enroll in available solutions that are designed to meet specific needs, such as nutrition, financial planning, starting or expanding a family, cancer care, and caregiving resources. Hy-Vee and Soda Health Launch New Health and Wellness Benefits Program to Deliver Care that Supports, Incentivizes and Rewards Healthy Choices. Press release, January 10, 2024. The launch of this new Smart Benefits program allows recipients to receive personalized health and wellness benefits at all Hy-Vee locations across the retailer’s eight-state region. The program is available to participating Medicare Advantage, Medicaid, and employer benefits programs. The program is powered by Soda Health and helps individuals identify, access, and pay for the resources they need to achieve a healthy lifestyle. They can receive personalized benefits on fresh produce, over-the-counter pharmacy items, clinical services, and nutritional counselling.
