Critical Illness Insurances: Challenges and Opportunities for Insurers

Journal article
(Original article)


Publication Details

Author(s): Gatzert N, Mägebier A
Journal: Risk Management and Insurance Review
Publication year: 2015
Volume: 18
Journal issue: 2
Pages range: 255-272
ISSN: 1098-1616
eISSN: 1540-6296
Language: English


Abstract


Since the first introduction of critical illness insurance in 1983 in South Africa, the product has successfully spread to some insurance markets, especially in Asian and Anglophone countries, but market penetration remains low in other countries. For this reason and because of the increasing relevance of dread diseases, the aim of this article is to provide a first comprehensive overview of challenges and opportunities associated with critical illness products for insurers. Toward this end, we first present the various product designs, as well as the developments that have taken place within the market before comparing this form of coverage to alternative insurance products in order to better assess the market potential. Based on these assessments, we thoroughly discuss the major challenges and opportunities within the market from the insurer's perspective.



FAU Authors / FAU Editors

Gatzert, Nadine Prof. Dr.
Lehrstuhl für Versicherungswirtschaft und Risikomanagement
Mägebier, Alexander
Lehrstuhl für Versicherungswirtschaft und Risikomanagement


How to cite

APA:
Gatzert, N., & Mägebier, A. (2015). Critical Illness Insurances: Challenges and Opportunities for Insurers. Risk Management and Insurance Review, 18(2), 255-272. https://dx.doi.org/10.1111/rmir.12033

MLA:
Gatzert, Nadine, and Alexander Mägebier. "Critical Illness Insurances: Challenges and Opportunities for Insurers." Risk Management and Insurance Review 18.2 (2015): 255-272.

BibTeX: 

Last updated on 2019-25-03 at 07:10