Products offered with little or no evi­dence of insura­bility are a gro­wing area of the life and health insu­rance market. Hannover Re has consi­derable expe­rience and exper­tise with sim­plified issue products and a de­tailed under­stan­ding of the chal­lenges and opportu­nities in­herent in this rapidly deve­loping market.

With little or no under­writing invol­ved (appli­cants may be asked for nothing more than a decla­ration of good health), the key issue with such pro­ducts is distri­bution. Hannover Re under­stands which sales channels attract accep­table risks, how to design viable simpli­fied issue policies, and, cru­cially, how to price pro­ducts to make them both affor­dable and profi­table. We also under­stand the impe­rative of keeping appli­cation pro­cesses short and simple to maxi­mise con­version rates.

Simpli­fied issue pro­ducts enable mass market B2C product and service pro­viders to leve­rage exis­ting distri­bution capa­bili­ties to offer entry-level life and health insu­rance pro­ducts, and so create future up-sales opportu­nities. Pro­ducts like online life insu­rance can also bring provi­ders valu­able new re­venue and client rela­tion­ships - pro­vided they are well de­signed and distributed.

The depth of under­stan­ding and expe­rience Hannover Re brings to the simpli­fied issue market makes us a compe­tent partner for any pro­vider ente­ring or exten­ding their product offer in this fast growing market segment. We under­stand in detail how to create pro­ducts that combine adequate pri­cing and risk selec­tion with a compel­ling price point and a stream­lined sales process.

Clients additio­nally bene­fit from our excep­tionally open and flexi­ble approach to new ideas in the sim­plified issue space: we are looking beyond standar­dised solu­tions to innova­tive pro­ducts that can help our part­ners profit from un­tapped market seg­ments. Hannover Re is always ready to back new pro­ducts by sharing in the risk as rein­surers.