Next Generation Insurance Customer: Solutions for an ageing society

Next Generation Insurance Customer considered solutions for an ageing society. The conference asked four key questions: (1) How will we fund an increasing number of elderly in their upkeep, their health and their care if and when needed? (2) What changes can we expect to see in mortality and morbidity trends in older age? (3) How will our relationship with technology affect how we care and support those in older age? And (4) how can insurance continue to develop products and services for elderly consumers?

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Read a text version of this video below:

"Domenico Savarese: An event like NGIC is very important for aging society's development because it brings together the financial industry, the service providers, technology players, and other components of the ecosystem that is so essential into managing this huge opportunity and challenge for our world.

Tom Wright: And it's very appropriate that we're focusing on an aging population because they're not always well serviced by the financial services industry, and particularly with the challenges of increased care costs and the need for longer term pension provision. It's great to bring together so many thinkers and leaders across the sector.

Veera Lami: We really need to understand all the needs and motivations of the senior customers in order to produce new innovative services.

Pawel Jakubowsk: Looking at the customers most of them will try to delay thinking about the costs of medical care in the future, as even the sessions that we have seen already today in the event show, people try to avoid it or postpone a decision for the future.

Kelvyn Young: We're seeing lots of things now in development of app technology to things like diabetes, obesity, cardiovascular risk, so we'll definitely be seeing further developments and solutions in wearable technology for an aging society.

Nashina Asaria: We actually model the cardiovascular system, which acts as a sensor for the nervous system and gives us indications of mental health. So with data from mobile devices we're able to early detect the onset of depression, anxiety, PTSD and the like.

Pepper: I can help older people live in their own home longer. I can help remind them to take medicines.

Vishal Gondal: Swiss Re is really thinking completely at a different level by putting an event like this together, because it's seldom that technology providers like us get to interact with people across the world who are working on the same challenge. We are all working in our own silos, but this forum gives us an opportunity to interact and have a dialogue.

Nico-Louis Minnie: Coming to this event and focusing on a specific market with a specific focus added a hell of a lot of value to my business to take back to South Africa, and to design upper level or affluent market solutions, especially in the longevity space.

Charles Etienne de Cidrac: For me particularly and for AXA to join this event, because the challenges we face in aging will not be solved with the traditional recipes. So we are constantly looking at innovation, new ways to do things, think outside of the box, and I do believe at this type of event we may pick up one or two ideas that will help us in the business going forward."