Is InsurTech Personalising South Africa’s Long-Term Insurance Industry? Market Overview 2022 – ResearchAndMarkets.com – QNT Press Release

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The “South African Long-Term Insurance Industry Landscape Report 2022” report has been added to ResearchAndMarkets.com’s offering.

The global Long-Term (Life) Insurance market was hit hard in 2020, declining by 4.4% in terms of value, with advanced global markets bearing the brunt of this decline. However, positively, the market was expected to rebound strongly in both 2021 and 2022, with predicted growth rates of 3.8% and 4.0%, respectively.

This recovery is expected to be fuelled by the InsurTech sector, the growth of which has been accelerated by the COVID-19 pandemic, and the resulting need for innovation to cater to rapidly shifting consumer expectations.

Within the South African context, well-established, traditional Long-Term (Life) Insurance players are increasingly collaborating and partnering with InsurTech firms, in order to offer personalised and innovative products to recapture consumer interest.

These collaborations have also allowed insurers to become more responsive and transparent in their transactions with customers, through the creation of tailored, flexible insurance offerings.

The South African Long-Term Insurance Industry Landscape Report 2022, provides a dynamic synthesis of industry research and carefully uncovers the global and South African Long-Term Insurance market, based on the latest intelligence and research.

This Industry Landscape Report provides a holistic perspective of the Long-Term Insurance market, including the impact of the global COVID-19 pandemic, as well as the potential future impact it will …

Full story available on Benzinga.com

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