How underwriting can be improved to increase life insurance penetration in developing countries
Homework Answers
Developing countries are characterized by low level of education and skill sets which finally results in low disposable income and quality of life. But over a period of time developing countries have seen improvements in education, skill sets which has resulted in good earning opportunities. However life insurance is not seen as an investment for future which needs effective methods which can reach customers in understanding that the life insurance is the best way to secure against any unforeseen events in the future.
Underwriting helps to understand the risks and probability of occurrence of risk to the clients so that an effective life insurance is designed for the individual needs. The most basic needs of the family are pension plans for post retirement, education policies for children, term insurances etc. Usually assessing the demographic features like percentage of working age population who are young, middle aged, old aged and their family sizes, needs would help in assessing probability of the risk.
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How
underwriting can be improved to increase life insurance penetration
in developing countries
How to increse insurance penetration in life insurance in developing country
How to increse insurance penetration in life insurance in developing country
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