The insurance market families it is growing at a rapid pace for the traditional distribution channel and for the banks, which are investing and increasing their presence.
However, there are some questions that need to be considered:
– What does the family expect in terms of non-compulsory insurance?
– What does family customer risk management consist of and who is able to offer this service?
– What knowledge should a family have regarding compulsory insurance (INPS INAIL SSN) to protect themselves from possible negative events?
– What skills should a good intermediary make available to families to protect their assets?
These are some of the topics that will be explored in depth on Thursday 10 October at 12.00, in the panel “The Risk Management of the customer-family”inside the Milan Insurance and Pension Festival 2024by the speakers, moderated by Luca Lambertini, independent intermediary (trainer and author of the Guide to the analysis of insurable risks).
Alberto Cauzzi (Founding Partner and CEO of Epheso) will delve into the topic of correct insurance consultancy, which examines all-round risk exposures in family life with the same quantitative methodology and meticulousness that corporate Risk Management applies. It will explain how to orient yourself and choose appropriate support tools for consulting on insurance needs. With Sara Tortelli, communications consultant for insurance distribution, we will explore the possibilities of effectively using social media to raise awareness among families of the risks they run and to provide insurance education, breaking down the distance and distrust towards the intermediary who approaches potential customers through social channels. Other speakers include Silvia Di Camillo, Family Line Intermediary and Risk Manager; Emanuele Sarti, CEO of Leadership and management srl.
The event can be followed live on Class Cnbc (Sky 507), in streaming on milanofinanza.it and italiaoggi.it and in LinkedIn Live on MilanoFinanza.
Analysis of the Growing Insurance Market for Families
Recently, I read a news article highlighting the rapid growth of the insurance market for families, particularly through traditional distribution channels and banking institutions. As a blog news writer, I’ll delve into this topic and provide an analysis of the key points raised in the article.
The insurance market for families is indeed booming, with both traditional distribution channels and banks increasing their presence. This growth is a testament to the growing awareness of the importance of insurance among families. However, there are several questions that need to be considered, as raised in the article.
Non-Compulsory Insurance Expectations
One of the key questions is: What do families expect in terms of non-compulsory insurance? Non-compulsory insurance refers to policies that are not mandatory by law, such as life insurance, disability insurance, or critical illness insurance. As families become more aware of the risks associated with unexpected events, they are seeking insurance policies that can provide financial protection and peace of mind. Families expect insurance policies that are tailored to their needs, affordable, and provide comprehensive coverage. For instance, according to [[3]], the average cost of health insurance for a family of four in the United States was approximately $23,968 per year in 2023. Families expect insurance providers to offer policies that are competitive in pricing while providing adequate coverage.
Family Customer Risk Management
Another critical question is: What does family customer risk management consist of, and who is able to offer this service? Family customer risk management refers to the process of identifying, assessing, and mitigating risks associated with a family’s well-being. This can include risks related to health, financial security, and personal safety. Insurance providers who offer risk management services can help families identify their specific needs and develop strategies to mitigate these risks. Banks and financial institutions are increasingly investing in risk management services to provide a comprehensive solution to families.
Compulsory Insurance Knowledge
Lastly, the article raises the question: What knowledge should a family have regarding compulsory insurance? Compulsory insurance refers to policies that are mandated by law, such as workers’ compensation insurance or auto insurance. Families need to understand their obligations and responsibilities regarding compulsory insurance. For instance, in Italy, INPS (Istituto Nazionale della Previdenza Sociale) and INAIL (Istituto Nazionale per l’Assicurazione contro gli Infortuni sul Lavoro) are responsible for providing compulsory insurance coverage to workers. Families should have a basic understanding of these insurance schemes and how they apply to their specific circumstances.
Conclusion
the insurance market for families is indeed growing rapidly, driven by increasing awareness of the importance of insurance among families. However, there are several key questions that need to be considered, including non-compulsory insurance expectations, family customer risk management, and compulsory insurance knowledge. As insurance providers continue to innovate and respond to the needs of families, it is essential to address these questions and provide comprehensive solutions that meet the evolving needs of families.
