Holistic Client Solutions
Changing the game
From that first spark on an idea through the launch of a product that will meet customer needs, there’s no doubt that success in our industry starts with expertise in product development.
In recent years, RGA has solidified our position as a product development leader in the Asia Pacific region, harnessing the full spectrum of our capabilities to move our clients and the industry forward. Read more about two recent examples below.
Holistic Client Solutions
Changing the game
From that first spark on an idea through the launch of a product that will meet customer needs, there’s no doubt that success in our industry starts with expertise in product development.
In recent years, RGA has solidified our position as a product development leader in the Asia Pacific region, harnessing the full spectrum of our capabilities to move our clients and the industry forward. Read more about two recent examples below.
SINGAPORE
Elena Quek Head of Business Development, Southeast Asia Markets
The retirement game changer
The RGA Southeast Asia team saw a growing market need to strengthen Singapore’s retirement planning. There were particular challenges with the uncertainty of post-retirement medical insurance and the cost of premiums.
The solution was dubbed the “Retirement Game Changer,” a hybrid life and medical product that provides policyholders:
- A safety net for medical expenses after retirement by drawing down on mortality cover
- Peace of mind about future medical premiums via a limited premium-paying period
- Death and terminal illness coverage, with deferred medical benefits starting from customers’ selected retirement age
RGA supported our clients in all aspects of implementation, including advising on risk controls for hybrid life and accelerated medical risks, market insights and concept validation, and applying RGA’s behavioral science expertise.
KOREA
Kyeonghwa Kim Head of Pricing, RGA Korea
Business grows on strong foundations
Predictable risk management frameworks are the foundation of sustainable business growth. In 2021, RGA Korea built on our long-standing partnership with one of the market’s leading insurers by developing two innovative new risk-scoring models. Underwriting and data analytics expertise were combined with external data, such as credit information and medical checkup records, and the underwriting process was streamlined. Based on this success, along with extensive market research conducted by RGA to identify emerging opportunities for our client, we formed a strategic “bulk deal” partnership in which RGA will serve as co-creator of our client’s future innovation projects. As part of the arrangement, RGA will reinsure new and recurring business as well as renewable in-force business as it becomes available.
Have an idea for the next issue? Want to know more about what we do or explore a potential partnership? Or do you have other questions? Please contact us »