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Future of Insurance 2024

In Singapore, nearly a quarter of citizens will be over 65 by 2030. This demographic shift presents both challenges and opportunities for the insurance industry.

The future insurer: A catalyst for change, not just a safety net

Insurers can become trusted stewards, making a positive impact on individuals, society and the planet

From left:
Dr Khoo Kah Siang, CEO at Manulife Singapore;
Akhil Doegar, group head of distribution at Singlife;
Christopher Albrecht, CEO at Sun Life Singapore;
Harpreet Bindra, CEO at HSBC Life Singapore

Insurance industry being reshaped by wellness, sustainability demands and AI

All these changes require insurers to relook their business models, operating structures and talent development capabilities

Individuals and families taking to a globe-trotting lifestyle have more assets and investments held across different countries. Life insurance can be a tool for their legacy, wealth and tax planning needs.

How life insurance can be harnessed in new ways

It can be a strategic tool not just for the end of life, but for the start of a legacy, especially for the more well-off

About US$2.5 trillion worth of intergenerational wealth will change hands in Asia by 2030.

Sustaining family wealth in the era of the great wealth shift

Careful planning and consultations with professional planners can ensure a smooth transfer of wealth and conserve it across generations. BY LEAH NG

‘New HNWIs seek a more holistic and tech-savvy approach to wealth
management and legacy planning,’ says Rena Lim, head of high net worth and financial advisory at Manulife Singapore.

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Flexibility, versatility of life insurance makes it crucial puzzle piece in legacy planning: Manulife

Cash element can be tailored to meet varying needs of rising HNWIs population in Asia

The Life Insurance Association Singapore’s 2022 Protection Gap Study puts the mortality and critical illness protection gap at S$373 billion and S$579 billion, respectively.

Four insurance trends that could impact you

Insurance plays an essential role in building financial resilience in society. BY HARPREET BINDRA

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