With consumer concerns impacting both the amount and number of life settlements in 2021, the global economic environment has shifted to a heightened state of inflation and rising interest rates that could result in a recession.
The report forecasts an average annual volume of new life settlements of $5.2 billion for 2022 – 2031, driven by the strong demand from investors for alternative assets and the development of a direct-to-consumer market. Such markets are becoming increasingly popular as consumers attempt to protect their assets in times of financial instability.
In order to assess how well insurers have been performing, Conning’s study will provide an in-depth analysis on their targeted investments. The findings suggest that more work needs to be done as far as regulation, product development, pricing strategy, digital marketing and customer education are concerned. Looking ahead, it seems likely that consolidation among insurers will take place to create more competitive environments, which should benefit all stakeholders involved.
The need for innovation is also highlighted by Conning’s research; advances in technology can be used to improve the efficiency and accuracy of life settlement practices, allowing both policyholders and investors to reap rewards from the sector’s potential. More sophisticated analytics tools should help insurers better understand current trends and develop products tailored to meet customers’ needs effectively.
Overall, Conning’s comprehensive review provides valuable insight into how life settlements are expected to grow over the next decade. With its detailed analysis on current market conditions, performance assessments of insurers as well as advice on how technology can be used to facilitate growth in this sector, this report is essential reading for anyone interested in taking advantage of what life settlements offer.