Gen Re Announces 2018 U.S. Critical Illness Insurance Market Survey Results

STAMFORD, Conn.–(BUSINESS WIRE)–Gen Re has released results of the U.S. Critical Illness Insurance
Market Survey
. This annual survey covers Traditional Individual and
Group/Worksite Critical Illness (CI). The group/worksite segments (Issue
Age and Attained Age products) account for the majority (85%) of sales.

Seventy‐five carriers participated in this year’s survey. Of those, 51
were actively selling a Critical Illness product; 16 were currently
developing a CI product; and the remaining eight were exploring entry
into the market. Participants reported $1.6 billion in CI in-force
premium and over $652 million in new sales for 2017. All indicators
suggest that the CI market remains in a period of healthy expansion:

  • New carriers continue to enter the market.
  • Existing carriers are adding new products.
  • 64% of respondents plan to increase their focus on CI.
  • Insurers expect to see annual sales growth of 22% – 38%.
  • The majority of carriers are meeting or exceeding their expectations
    for sales, profitability, agent acceptance and consumer demand.
  • 93% of carriers report claims matched or were better than their
    expectations.

The Market Survey is an annual survey produced by Gen Re, with
the full results available only to participating companies.

Gen Re, a Berkshire Hathaway Company, is one of the leading
life/health and property/casualty reinsurers in the world. Our North
American life and health reinsurance company, General Re Life
Corporation, has superior financial strength ratings among life and
health reinsurers. Gen Re delivers customized reinsurance programs and
risk management solutions for the Life, Medicare Supplement, Critical
Illness and Individual Disability Income markets. Through our research,
we also offer valuable information and insights. For more information,
visit
www.genre.com.

Contacts

Gen Re
Steve Rowley
+1 203 352 3105

leverton

I have been involved with publishing and marketing for the past 32 years. My passion is helping people share their voice. I am able to do this through two important venues: One, with Area-Info.net where people can share everything from opinions to events to news. It is your choice! What do you want to share? Two, through a new program called America's Real Deal I am involved with to help business owners get their voice heard.I schedule speaking engagements with community groups and business groups to share my passion about the importance of "sharing your voice".Contact me directly at lee@leeeverton.coom for scheduling information.