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Product Development and Market Research

RGA’s success story is based on our unique approach in highly competitive life markets.  We go far beyond offering reinsurance cover; RGA builds partnerships with clients based on customer focus, value for premiums, and high service standards.

We offer exceptional expertise across a wide range of disciplines, from product development to sales structures. RGA can help clients create standardized product solutions. Additionally, clients can benefit from the unique selling proposition of tailor-made product lines. 

RGA also specializes in applying successful product ideas from other markets and adapting these concepts to meet local needs and preferences. We continually evaluate the most effective product development trends from around the world across essential ability, serious illness, substandard annuity, disability income, and high net worth product lines.  We regularly counsel clients through product development workshops and are always open to discussion. Interested? Please do not hesitate to contact our Client Relationship Team.

Contacts

RGA International Reinsurance Company dac
German Branch Office
Kaiser-Wilhelm-Ring 15
50672 Cologne
Germany
T 48 221 9649 980
F 49 221 9649 9899

Market Research and Development (2009 - 2014)

Between 2010 and 2014, RGA Germany sponsored several surveys in cooperation with Deloitte and the Institute of Insurance Sciences in Leipzig (IfVW). These surveys analyzed the German life insurance industry.

The first market survey was released in 2010 and entitled “Business Models within the Life Insurance Sector – Status, Prospects and Challenges in the Current Economic and Political Climate". The survey 
found that several factors influenced business models within the German life insurance sector, including:

  • Impacts from the global financial crisis
  • Capital market conditions (in particular the low interest rates)
  • Legal uncertainty
  • Solvency II
  • Distribution resource shortages 
  • Growing demand for transparency

The continuation of this study in 2011 identified driving forces behind life insurance market changes. The study focused on Japan and the United Kingdom, two markets with parallels to the German life insurance market.

Also in 2012,  RGA Germany, Deloitte and the Institute of Insurance Sciences in Leipzig (IfVW) released the survey “Life Insurance 2.0”. Executives from German Life Insurance companies were interviewed on their expectations on both the legal and the economic framework conditions for the entire branch. More than 20 life insurance companies/groups participated, representing 84% of the market. This survey also covered the topics of transparency and consumer protection, which continue to be a focus of the life insurance industry. 

In 2014, another survey, “Life Insurance 3.0”, came to the conclusion that, in addition to increasing competition and persistently low interest rates, growing cost pressures and regulatory requirements were the greatest challenges facing the industry. German life insurers expected a rise in new product development and other market movements. 

For more information about these studies, contact us.

 

In 2010 and 2011, RGA partnered with Towers Watson to conduct a comprehensive survey on German Insurance Product Strategies. Among the findings:

  • German life insurers are focused on biometric risk coverage, with 90% planning to develop and launch biometric products
  • Within this segment, the highest growth involves nursing and independent occupational disablement insurance.

A second joint RGA-Towers Watson study in 2012/13 evaluated product management among German life insurers. This new survey verified earlier findings: Life insurers envisage increasing growth potential for biometric insurance coverage but feel restrained by regulatory change. For more information about these studies, contact us.

In 2009, RGA collaborated with a major consulting company to conduct the survey Investment Opportunities in German Life Insurance – Direct and Cross-Border Activities. This survey evaluated the German life insurance market from the perspective of a foreign life insurer and provided valuable insights. In addition, the survey highlighted potential opportunities for new market entry options. For more information about these studies, contact us.