Planning ahead today for tomorrow

How the German life insurance industry can ensure its competitiveness with a clear focus and technological innovation

Societal and economic developments in recent years have been characterized by far-reaching changes, which have also led to increasing uncertainty among the population. Selling long-term financial products in this environment is no easy feat. Driven by demographic change, volatile capital markets and tighter regulation, the industry is once again facing a period of upheaval. 

But where there are challenges, there are also opportunities. The future of life insurance lies in a courageous approach to digitalization and new products. Many companies are currently developing strategies to master the balancing act between traditional pension provision and modern liquidity requirements for customers. Finally, the industry will continue to position itself competitively through greater focus and pooling of expertise.

This study highlights the interactions between these developments and places them in the context of the strengths and weaknesses of the various business models. Recommendations for action can be derived from these findings as to how companies can draw conclusions on possible approaches within their own business model that ensure their long-term competitiveness in the life insurance business or enable alternatives.