Group protection growth a positive but further evolution required

"We need to break down the silos that operate in this market."

Hemma Visavadia
clock • 5 min read

Following Swiss Re’s Group Watch Report 2021, COVER talks to the reinsurer's technical manager and report co-author, Ron Wheatcroft, about the decision to include gender splits for the first time and where group protection products fit in with the wider industry.

The Group Risk 2021 report, published last week, revealed three main things: The continuous upwards trend in terms of the amount of people being covered which rose by 5.9% to a total 14,106,854; concerns over the decreased use for dependants death-in-service pensions, which has been gradually falling; and the need to evolve the processes around schemes and new deals, which is viewed as somewhat outdated. In this year's report, Swiss Re chose to include gender split demographics for each group protection product for the first time. The reason behind this goes back to the reinsurer's ot...

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