Industry agrees: Increased longevity a critical factor for life insurance

33% of respondents agree that increased longevity is a major factor most likely to affect the life insurance industry in the years to 2030.This is one of the key findings from a study conducted by the Economist Intelligence Unit.

80% of respondents agree that insurers have a duty to contribute positively to society, with all regions in equal agreement, yet only 55% agree that insurers are fulfilling that role.Longevity

The EIU study: Insurers and society 2013, surveyed 332 companies around the world including insurers, reinsurers, wealth managers and independent financial advisers to find out what immediate and long-term challenges the insurance industry faces and how insurers are responding. Download the report here.

Overall, intermediaries are slightly less convinced that insurers are contributing (53%, compared with 56% of insurers), with the biggest discrepancy between the two groups seen in North America, where 64% of insurers believe that they are meeting their societal responsibilities, while just 36% of intermediaries agree.