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Life Insurance Industry Adapts to Demographics, AI, and SME Opportunities – Weekly News
Ageing populations to reshape the future of life insurance: Swiss Re
22 Oct 2025
Swiss Re warns that demographic shifts will reshape the life insurance industry as populations age, particularly in advanced economies where one-quarter of people are expected to be 65 or older by 2050. The traditional focus on income replacement and family protection will shift toward products that help retirees manage wealth, secure income, and cover health and long-term care costs. With older generations holding significant assets—such as USD 120 trillion in the U.S.—there is rising demand for annuities, longevity products, and long-term care solutions. Swiss Re highlights successful models combining life, health, and care coverage, as seen in France, Thailand, and Korea, to address protection gaps and financial risks for retirees. This “Silver Economy” presents both challenges and opportunities for insurers to innovate and remain relevant.Sumitomo Life to mull using AI tech to support sales agents
17 Oct 2025
Sumitomo Life Insurance plans to use digital technologies, including generative AI, to support its sales agents, following industry scandals over improper practices with dispatched employees. President Yukinori Takada emphasized the need to foster independent relationships with agents while improving operational efficiency, noting that subsidiaries like Singapore Life already excel in digital sales and agent management. The company has begun integrating AI tools, including ChatGPT, to streamline operations and enhance customer value. Sumitomo Life aims to leverage AI and asset management synergies across its group, including Symetra Financial in the U.S., under its 2026 medium-term management plan.Ageas Federal Life Insurance, CSB Bank forge SME Bancassurance pact
17 Oct 2025
Ageas Federal Life Insurance has partnered with CSB Bank to offer life insurance solutions to Small and Medium Enterprises (SMEs) and individual entrepreneurs across India. The collaboration integrates Ageas Federal’s insurance products with CSB Bank’s loans, savings, and credit services, providing customers with comprehensive protection for their business and family finances. CSB Bank’s 834 branches and 800 ATMs will serve as distribution points, enhancing accessibility. The partnership leverages CSB’s national presence and Ageas’s global expertise to deliver seamless, customer-focused insurance solutions. This initiative aims to support India’s growing entrepreneurial sector and promote long-term financial security.Related News
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