Advances in big data analytics, artificial intelligence and the Internet of Things are transforming the insurance industry and the role that data plays in insurance. New sources of digital data reveal information about behaviours and lifestyle habits that allow insurers to assess individual risks much better than before. The emergence of big data, however, raises several concerns regarding privacy, personalisation of insurance and competition, which require intricate and complex value judgments.

This report offers new insights into the role of the insurance industry in addressing the climate change adaptation and mitigation goals. It highlights the insurance industry’s value proposition and efforts to build financial resilience to climate risks and to support the transitioning to a low-carbon economy. It proposes key recommendations for multiple stakeholders.

Life insurers assume risks that are more effectively borne by institutions than by individuals. Longevity and mortality risks provide diversification benefits when grouped together and they are much more predictable when pooled by insurers across large numbers. As institutional investors, life insurers play a key role in funding the real economy and the public sector. And like any other business, life insurance provides jobs for employees.

The role of life insurance in helping individuals achieve peace of mind and financial security is significant. In a low interest rate environment, insurers have an even bigger role to play as individuals may struggle to find investments with appropriate returns. Life insurance can provide investment performance in combination with a secure insurance guarantee and a death benefit for beneficiaries. However, the industry is not immune to low interest rates.

Could prolonged low interest rates jeopardise the unique socio-economic role of the life insurance industry in delivering retirement solutions and funding the economy? Our report explores how life insurers are responding to this challenge.

Issue Brief 1: How the life insurance industry is tackling a 'manageable headwind'

The Geneva Association has produced this primer as an overview of the role of insurance in society with a view to the current state of international discussions on trade growth and development.

This fourth report in The Geneva Association series on Financial Stability and Insurance provides more detailed analysis of how insurance recovery and resolution mechanisms work.

This paper is intended to be a primer on insurance regulation, including key analyses vital to the discussion around systemic risk and regulation.

The aim of this paper is to elaborate on the characteristics and management of variable annuities and to evaluate how variable annuities should be considered in the discussion on systemic risk in the insurance industry.

The use of genetic information for life, disability, critical illness and long-term care insurance is likely to increase in relevance. This report represents an attempt to understand key aspects of genetics, as well as limitations and controversies of its utilisation in life insurance.