Kathmandu. The global life insurance industry has come to a turning point. The World Life Insurance Report 2026, released recently by research firm Capgemini, raises serious questions about the nature of traditional insurance. The report warns insurers not to rely solely on old promises of “financial security after death”. <\/p>\n
40 years old<\/strong><\/span><\/p>\n }<\/p>\n According to the report, the most important market for the life insurance sector is the customers below 40 years of age. This group accounts for the future of insurance. But these young people have come to see insurance as an “instant price” rather than a traditional one. <\/p>\n Consumers under the age of 40, having grown up in a digital-first economy, seek immediate service access, transparency, and personalized financial advice. Many young people don’t think it’s wise to invest money in a product that pays off decades later or even after death. <\/p>\n ‘Life Insurance’ should now be ‘Insurance for Life’ <\/strong><\/span><\/p>\n Capgemini has suggested that the concept of ‘life insurance’ should be changed to ‘insurance for life’ and not ‘insurance for life’ for market growth. This means providing services that the insured can feel while he or she is still alive. Health awareness and mental and physical wellness programs, daily risk management and financial resilience. <\/p>\n <\/strong>{TAG_CLOSE_span_28}}<\/p>\n Insurance needs to be an ‘active partnership’ rather than just a ‘paper promise’. The flexibility in which the loan can be withdrawn online on the collateral of the policy, the facility of immediate repayment, the flexibility to sell or transfer the policy to someone else on the basis of the paid-up price, the flexibility to add or decrease the sum assured, the facility of health and accident treatment, the facility to increase the return by investing the insurance premium in the capital market (NEPSE). <\/p>\n Challenges from banks and fintechs<\/strong><\/span><\/p>\n In the last 15 years, the share of life insurance assets in diversification of personal investment has decreased by 23 percent. Insurers are now competing not just with other insurance companies but also with banks, fintech firms, and digital financial service providers. These competitors are attracting young customers through an integrated system (investment, health measurement and rewards). <\/p>\n Nepal also has a large number of youths below 40 years of age. According to the National Census 2078, 42.56 percent of Nepal’s population is youth. This global report seems equally relevant for Nepali insurers in the context of Nepal Insurance Authority giving priority to ‘digital insurance’ and ‘micro insurance’. The report predicts that insurance premium growth will slow down by 2040 if insurance companies do not “restructure” their products as per the expectations of the younger generation. <\/p>\n Findings of the Report<\/strong><\/span><\/p>\n }<\/p>\n Insurance companies will no longer be able to survive in the market by simply selling ‘fear of death’. They must provide a ‘visible reward’ to support the insured in every step of life. <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Kathmandu. The global life insurance industry has come to a turning point. The World Life Insurance Report 2026, released recently by research firm Capgemini, raises serious questions about the nature of traditional insurance. The report warns insurers not to rely solely on old promises of “financial security after death”. 40 years old } According to […]<\/p>\n","protected":false},"author":5,"featured_media":259815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45167,45067,45152,45159],"tags":[],"class_list":["post-282368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-technology-en","category-important-en","category-life-insurance-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/282368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=282368"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/282368\/revisions"}],"predecessor-version":[{"id":282369,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/282368\/revisions\/282369"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/259815"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=282368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=282368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=282368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}