Digital disruption, shifting demographics and evolving buyer preferences, among other issues, have created a challenging operating environment for life insurers. Today, more than ever, product and distribution innovation are crucial factors for insurers to stay ahead of their competition and to meet consumer needs.
With our undogmatic approach and our appetite to innovate, we are the first-choice partner for insurers looking for solutions off the beaten path. Together, we can transform today’s challenges into tangible opportunities – anywhere in the world as illustrated by the exemplary business cases provided on this site.
Retirement solution tool kit
Individual protection in old age
Life expectancy is rising and social security systems alone cannot guarantee the individual need for security in old age. Hannover Re supports insurance companies in developing tailor-made retirement solutions adapted to diverse markets with their experience in mortality assumptions and medical underwriting.
Concept
- Flexible retirement product at fair price
- Considering individual need for security in old age
- Offering a range of products that can be combined
Target group
- Insurers worldwide with a need for old age solutions
Region
- UK
Hannover Re’s contribution
- Expertise regarding mortality assumptions and medical underwriting
- Access to large database of impaired lives
- Automated underwriting system
- Assistance with underwriting process
Flyer
Retirement solution tool kit (2018)
Qinematic® & Hannover Re: Posture Scan software
3-D motion lab
Around one third of the population has a movement-related disorder. With the Qinematic® Posture Scan software Hannover Re helps insurers looking for innovative solutions to reduce long-term disability and to improve their decision-making capabilities at the underwriting or claim stage thanks to reliable digital 3-D measurements.
Concept
- Early detection of movement dysfunction
- 3-D video of a person’s movement
- Animated feedback for awareness
- Prevention & rehabilitation of disability
Target group
- Life & Health insurers
Region
- Australia
Hannover Re’s contribution
- Expert consultation
- Implementation support
- Preferential access to service and equipment
- Interlinking of the software and insurance solutions
Flyer
Qinematic® Posture Scan software (2018)
Risk protection for U.S. healthcare providers
Delivering high-quality patient care with financial peace of mind
Under emerging risk-bearing arrangements in the U.S., healthcare providers become financially responsible for the care they deliver and have to cover any costs that surpass a stated benchmark – a severe financial risk. As risk management experts we offer solutions that are designed to mitigate financial risk and enable more predictable cash flows, profits and earnings.
Concept
- Aggregate excess of loss protection
- Limited exposure to financial loss
- More predictable cash flows, profits and earnings
Target group
-
Healthcare providers
Region
- USA
Hannover Re’s contribution
- Healthcare system expertise
- Risk management know-how
- Consultative services
- Tailor-made solutions
Flyer
Risk protection for U.S. healthcare providers (2018)
Digital distribution platform
New approaches to selling life insurance
Buying insurances needs to be easy, flexible and online. Ideally, interests of agents and customers are served at the same time. With the digital distribution platform Hannover Re helps insurers in China to connect to latest insurtech solutions and to design easy-to-understand products that meet the needs of digitally savvy consumers.
Concept
- Large pool of insurance products
- Anyone can become an agent
- Personalised agent profile & product-mix
- Q&A portal with easy & quick interaction
Target group
- Agents and tech-savvy customers
Region
- China
Hannover Re’s contribution
- Attractive and easy-to-understand products
- Simple implementation
- Connection to latest insurtech
Flyer
Digital distribution platform (2018)
Charitable insurance
Being secure, doing good
Consumers can do good with their policy: Parts of the premium go to charity. This philanthropic approach targets social-minded millennials in South Africa. Hannover Re is eager to support life insurers, who bring fresh concepts to the industry, and helped pave the way for this success story.
Concept
- Fully underwritten – online / call centres
- Social networking and -platforms
- Immediate issuing of policies
- Donations
Target group
- Millennial generation
Region
- South Africa
Hannover Re’s contribution
- Status-defining scorecard
- Design, pricing & claims assessment
- Automated underwriting via hr | QUIRC
- Upfront investment & new business financing
Flyer
Charitable insurance (2017)
Discovery & Hannover Re: Vitality Active – A shared value insurance model
Vitality Active motivates healthy behaviour of policyholders
Unhealthy behaviour plays a fundamental role in the disease burden faced by society globally. Risk profiles of policyholders can be lowered significantly by incentivising healthy behaviour. Hannover Re and Discovery have entered into a strategic partnership to provide insurers with an affordable, mobile-based, behavioural wellness solution encouraging their policyholders to take steps to improve their health and to increase their levels of exercise.
Concept
- Light version of original Vitality package
- Flexible and cheaper to implement
- Accessible and attractive to insurance companies, irrespective of size
- Coverage at an affordable price
Target group
-
Health-conscious millennials
Region
- Latin America, selected Asian and European territories
Discovery’s contribution
- Science-based holistic wellness concept
- Smartphone Vitality App
- Continual differential insurance pricing
- Shared value insurance
Hannover Re’s contribution
- Access to international network of clients
- Mutual marketing & selling strategy
- Underwriting, claims, product & pricing expertise
- Reinsurance capacity
Flyer
Discovery & Hannover Re: Vitality Active - A shared value insurance model (2017)
Ladder & Hannover Re: A cooperation to serve today’s consumers
Serving tech-savvy consumers
A first-of-its-kind life insurance product incorporates a technology-driven and consumer-focused buying experience: Combining the smart offering of Ladder, a high-tech distribution company, with our risk management and automated underwriting solutions results in a seamless, transparent life insurance experience for U.S. consumers.
Cooperation partner
-
Ladder: high-tech distribution company
Concept
- Direct-to-consumer
- Technology-driven buying experience
- Seamless, transparent, fast
Target group
-
Underserved tech-savvy consumers
Region
- USA
Hannover Re’s contribution
- Automated underwriting via hr | ReFlex
- Integration of third-party data sources
- Connection to insurer to write the business
- Reinsurance risk transfer
Flyer
Ladder & Hannover Re: A cooperation to serve today’s consumers (2017)
Sureify & Hannover Re: Enabling insurers to implement a digital engagement process
Getting mobile-ready
We partner with emerging insurtech companies, like Sureify, to support life insurers that want to ensure that they stay relevant in the ongoing digital transformation. Together, Sureify and Hannover Re give insurance carriers around the world the technology they need to target the next generation of insurance buyers, enabling them to enhance their digital sales process, increase sales, and retain more customers by using innovative, integrated online strategies.
Cooperation partner
- Sureify: insurtech company
Concept
- LifeTime platform
- Acquisition, engagement, cross-selling
- Customised user experience
Target group
-
Next-generation insurance buyers
Region
- USA
Hannover Re’s contribution
- Investment
- Automated underwriting via hr | ReFlex
- Connecting Sureify with insurers
- Reinsurance risk transfer
Flyer
Sureify & Hannover Re: Enabling insurers to implement a digital engagement process (2017)