We all have witnessed a year in which economic and emotional demolish left by Covid 19 pandemics were intricated. During this period, insurers have faced a situation in which the sector presented a contraction of 2.8% for the first quarter of 2021, according to the Mexican Association of Insurance Institutions (AMIS).

1. Life Insurance
Trends For 2022
And Beyond

2. Introduction
We have all witnessed a year in which the
economic and emotional devastation left
by the Covid 19 pandemics was
intricated. According to the Mexican
Association of Insurance Institutions
(AMIS), insurers faced a situation during
which the sector contracted by 2.8
percent in the first quarter of 2021.

3. Let's Take a Quick Look Back at 2021
The COVID-19 pandemic caused supply chain issues in a wide
range of industries, impairing the ability of many businesses to
function on a basic level. The demand for insurance in those
industries fell, but claims for damaged and delayed goods
skyrocketed.
Work-from-home became the new normal for many companies
and their employees, resulting in hundreds of thousands of new
cyber-security risks.
When it comes to cyber-security, ransomware and phishing
attacks have targeted businesses of all sizes and industries.
As new tools emerged to help teams work and collaborate from
a distance, technology became an even more integral part of
our lives.

4. Moving forward, the life insurance
industry made some of its most
significant advances.
Increased awareness and the need for
protection helped the industry to turn
headwinds into tailwinds.
Widespread vaccine deployment and easing
of pandemic-related restrictions acted as
catalysts towards rebuilding confidence
among people and businesses alike while
fuelling economic recovery.
Life insurance selling, which was heavily
dependent on in-person interaction, moved
to predominantly digital channels and self-
service.

5. Growth Of Life Insurance
Since the pandemic, the need for life
insurance has grown significantly, as the
uncertainties of life have become starkly
visible. The health and well-being of oneself
and one's loved ones have become a priority,
making financial security a critical task.
Naturally, protection solutions such as life
and health insurance have become a must-
have in every financial portfolio.

6. Life insurers are digitalizing distribution channels to provide
enhanced convenience, advice, and reach
Insurers are revisiting their product strategy to target
under-protected segments
Promoting health and wellbeing is becoming mainstream
Novel insurance business models are enabling more
efficient go-to-market strategies
Insurers are leveraging alternate data sources and AI
Technologies to generate actionable customer insights
Key Trends We
Anticipate
Emerging in 2022

7. To Put Briefly
Digital adoption, value-based personalized
purchasing, and increased awareness will shape
customer behaviors and reshape the coming
year. Such trends will be game-changers for the
life insurance industry, allowing it to think
outside the box, innovate, and offer granular,
value-based, and integrated products to meet
customer needs. Insurance offerings that
combine risk transfer with proactive and value-
added services will emerge as a differentiator.
Staying relevant and adapting to changing times
will be critical for insurers.

8. Without a doubt, the life insurance
industry is at a pivotal moment. The
low product penetration in India will
continue to provide significant
headroom for the sector to grow.
Given these trends, 2022 will be a year
in which demand for suitable life
insurance offerings will remain strong,
and long-term growth opportunities
will be as compelling as ever.

9. Thank you!
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