Product Trends

Americas

Canada

Life & Health

Empire Life Introduces EstateMax® 8 Pay and Optimax Wealth™ 8 Pay. MarketWired, February 8, 2017.

EstateMax 8 Pay and Optimax Wealth 8 provide the options of paying for their participating life insurance policies in as little as eight years.

Manulife First Again With Insurance Innovations. Press Release, February 7, 2017.

For policies issued up to $1 million, applicants between ages 18 and 40 will no longer need to provide nicotine, blood, urine or other biometric data samples for all individual life products. Manulife is the first insurer in Canada to use predictive analytics to make this change in underwriting. The company is hoping this may reduce fraud.

Equitable Life Enhances Its Online Application. Press Release, January 23, 2017.

Equitable Life of Canada has enhanced Ezcomplete™, its face-to face online application, making it available for all of its traditionally underwritten products.

Market Trends & Innovation

New App Makes it Easy to Manage Your Insurance. Press Release, February 16, 2017.

The new free mobile app from The Co-operators, available on iTunes and Google Play, provides clients with a quick and secure way to access and manage their insurance information.

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Mexico

Life & Health

Mapfre and GINgroup Reinforce Partnership. Latin American News, February 17, 2017.
Mapfre Asistencia and the Mexican human capital management company GINgroup have signed an agreement to reinforce its partnership in the Mexican market. GINGroup offers direct payment for medical expenses, hospitalization, life insurance and accidental death. (Text in Spanish)

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United States

Life & Health

New Accumulation Indexed Universal Life Product Series from John Hancock. Press Release, March 14, 2017.

The Accumulation IUL (Indexed Universal Life) series products provide customers with life insurance and the opportunity to increase savings via a diverse range of indexed accounts. The Accumulation IUL is also available with Vitality, which offers customers rewards for living a healthy lifestyle.

The Standard Launches New Health Advocacy Select Service with Short-Term Disability Plans. Business Wire, March 7, 2017.

The Health Advocacy Select service is offered with The Standard’s short-term Disability plan. The service helps clients navigate the health care system while on a short-term disability claim.

Securian Rolls Out New Indexed Universal Life Insurance Product. Business Wire, March 6, 2017.

The product, Orion Indexed Universal Life, is designed to optimize accumulation potential. It offers multiple indexed accounts, a short-term interest-free loan option, and faster underwriting potential with Securian’s WriteFit Underwriting.

New Term Life Insurance Portfolio from John Hancock Features Significantly Lower Premiums. PRNewswire, February 23, 2017.

John Hancock Term and the John Hancock Term with Vitality policies are now available at lower premiums. An Unemployment Protection rider, which waives premiums for up to 12 months, is one of the new benefits.

Empire BlueCross BlueShield Launches New Dental Products in New York. Business Wire, February 10, 2017.

The products are Empire Dental Enhanced Care, a managed care plan and Empire Dental XPO, a PPO plan. They are available as of April 1, 2017.

New Term Pro+ Life Insurance from Legal & General America Available Through Allianz Life. Press Release, January 30, 2017.

Term Pro+ offers guaranteed life protection for 10 to 30 years. It also offers the option to exchange for an Allianz permanent life insurance product at a later date.

Pan-American Life Insurance Group Introduces New Critical Illness and Cancer Insurance Plans in the U.S. PRWeb, January 20, 2017.

The new Group Critical Illness and Insurance Plan, which covers 10 critical illnesses, offers a lump-sum cash benefit upon first diagnosis. This benefit can be used for lost income, household expenses, medical bills and alternative drugs and treatments. It pays an additional benefit for breast cancer.

Unum Launches Dental and Vision Cover for Employee Benefit Plans. Business Wire, January 11, 2017.

Unum Dental and Unum Vision have now been added to Unum’s employee benefits packages. Unum Dental and Unum Vision products offer flexible plans and a mobile app which customers can use to track claims, find providers and review their benefits.

The Standard Launches New Individual Disability Insurance Product. Press Release, January 3, 2017.

The product, Platinum Advantage, has a premium base benefit which includes a guaranteed renewable feature. Optional riders include a Residual Disability Rider, Noncancellable Policy Rider, Own Occupation Definition Benefit, Indexed Cost of Living Benefit Rider, Catastrophic Disability Rider and a Student Loan Rider.

Savings & Retirement

Brighthouse Financial Introduces Annuity and Life Insurance Solutions. Business Wire, March 6, 2017.

The following products, previously marketed under the MetLife brand, will now be offered from Brighthouse Financial. These include Brighthouse Shield Level Selector℠ Annuities, Brighthouse Variable Annuities with FlexChoice, and Brighthouse Premier Accumulator Universal Life.

Great-West Financial® Broadens Suite of Fee-Based Variable Annuity Offerings. Press Release, February 22, 2017.

The Great-West Smart Track® Advisor Variable Annuity will now offer three riders to fee based models. The riders offered are Great-West Secure Income Foundation GLWB Rider, Great-West Secure Income Plus GLWB Rider, and Great-West Secure Income Max GLWB Rider.

Lincoln Financial Group Launches Lincoln Core Income, Built With iShares. Press Release, February 21, 2017.

Lincoln Core Income SM, built with iShares, is an exchange traded funds (ETF) variable annuity. The investment selection, built in collaboration with BlackRock, consists entirely of ETFs.

Voya Financial Introduces Voya Journey Index Annuity. Press Release, February 13, 2017.

Voya Journey Index Annuity is a single premium deferred fixed index annuity. It offers a two-stage interest crediting approach to growing retirement savings.

Allianz Life Launches New Retirement Foundation ADV Annuity. Business Wire, February 7, 2017.

Retirement Foundation ADVSM Annuity is a fee-based fixed index annuity that offers protection of principal, tax deferral, a guaranteed income for life, and a death benefit.

Wealthsimple Expands Millennial-Friendly Online Investing to the U.S. MarketWired, January 31, 2017.

The Wealthsimple app experience is now available to investors in the United States. By downloading the Android or iOS app, investors can create a personalized portfolio, and the first $5,000 is managed free of charge.

Pacific Life Launches Fee-Based Variable Annuity at LPL Financial. Press Release, January 3, 2017.

Pacific Odyssey is a fee-based variable annuity, offering more than 100 investment options across different asset classes. It includes an optional living benefit and a standard death benefit.

Distribution

Life InsurTech Company Fabric Launches in 32 States. Digital Insurance, March 21, 2017.

Fabric is a managing general agent for Vantis Life, an underwriter of accidental death and term life policies. It offers Fabric-branded mobile-distributed instant policies underwritten by Vantis.

Market Trends & Innovation

Insurify, Next Insurance Sell Coverage with Facebook Messenger Chatbots. Digital Insurance, March 16, 2017.

InsurTech startups Insurify and Next Insurance have launched chatbots. The chatbots are automated artificial intelligence platforms that lets customers ask questions, and can provide quotes and issue insurance policies via Facebook Messenger.

Cigna Gamifies Health Screenings with BioBall. Digital Insurance, March 8, 2017.

BioBall, developed by Cigna, is a virtual reality game designed to enable customers to complete health screenings and deliver pertinent health information to them.

Cigna Launches Fingerprint Access Feature to Help Customers Manage Their Health. Press Release, January 13, 2017.

The myCigna app on both Android and iOS devices has now added fingerprint identification access. Customers can now access and manage their health accounts with a touch of their fingertip, as well as make doctor’s appointments and manage medical and dental claims.

Ladder Introduces Life Insurance Built to be Instant, Simple and Smart. PR Newswire, January 10, 2017.

Ladder is a digital life insurance product available in California from a computer or mobile device. Customers can access their needs, get a quote and apply online within minutes for up to $8 million in coverage.

Kate, Geico's New Virtual Assistant, Intuitively Answers Customer Questions. Press Release, January 7, 2017.

Geico has released Kate, a virtual assistant tool designed to help customers navigate Geico’s mobile app and answer questions about policies, premium payments and more.

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