Product Innovation and Customer Targeting in Life and Pensions, Q2 2007

Table of Contents

• The Roundup
  • Product innovation
    • Flexible pension products and retirement solutions
    • Increase range of available funds
  • Customer targeting
    • Online targeting
• The Developments
  • Allianz
    • Allianz subsidiary RAS launches complementary pension schemes in Italy (Product innovation) - May 2007
  • Asteron Life Limited
    • Asteron announces a refreshed life insurance product, Lifeguard (Refreshed product) - April 2007
    • Australian life insurance company Asteron reports that it is responding to advisor and customer feedback in the way it has updated its life product range, Lifeguard. Enhancements to the lump-sum products include AUS$10,000 premium-free child cover in case of serious illness, and partial payment TPD, which pays out a proportion of the full sum insured in case of serious injury to the person insured. There have also been changes in pricing for older customers.
  • Aviva plc
    • Navigator, an Aviva company, announces new funds in its retirement and personal investment plans (Refreshed product) - April 2007.
    • Aviva implements online underwriting platform in Australia (New product / customer targeting) - May 2007
    • Aviva introduces Dhan Vriddhi life product in India (Product innovation) - May 2007
    • Aviva' s Polish operation extends Guardian group life product (Refreshed product) - April 2007
  • AXA
    • AXA company Winterhur targets high net worth individuals with new BGI pension funds (Customer targeting / product innovation) - May 2007
    • AXA company Winterthur launches Psigma Income Fund (Product innovation) - April 2007
    • AXA introduces flexible premium life products (Product innovation) - May 2007
    • AXA introduces enhanced variable annuity products (Refreshed product) - May 2007
  • Bank of America
    • Online channel for term life product offered by Banc of America Insurance (Customer targeting) - June 2007
  • Crédit Agricole
    • Crédit Agricole Asset Management reaffirms Italian strategy (Customer targeting) - June 2007
  • Friends Provident
    • Friends Provident International Introduces UltimaBond (Product innovation) - April 2007
    • New M&G Funds added to Friends Provident Platform (Refreshed product) - May 2007
    • Friends Provident announce special offer in its Investment Portfolio Bond and Ethical Investment Bond (Refreshed product) - May 2007
    • Friends Provident introduces the Friends Plan (Product innovation) - May 2007
    • Friends Provident introduces UltimaSave (Product innovation) - June 2007
    • Friends Provident International marks opening of Singapore office with the launch of Global Portfolio (Product innovation) - June 2007
  • HSBC Holdings
    • Hang Seng Launches Critical Illness Life Insurance Plan (Product innovation) - June 2007
  • Lincoln National
    • Lincoln Financial launches solutions-based unified product portfolio (Product innovation) - April 2007
    • Lincoln launches i4LIFE® Advantage on defined contribution plans - May 2007
    • Lincoln announces merger of Lincoln Variable Insurance product and Jefferson Pilot variable fund trusts (Refreshed product) - June 2007
  • Manulife
    • Manulife Japan announces sale of "Step Life"(Product innovation) - April 2007
    • John Hancock Annuities introduces optional lifetime withdrawal benefit (Refreshed product) - May 2007
    • Manulife Japan announces sale of new riders (Refreshed product) - May 2007
    • Manulife Singapore launches variable annuity with guaranteed withdrawal benefit (Product innovation / customer targeting) - June 2007
    • Manulife Japan announces sale of "Step Life" through Chikuho Bank, Ltd. (Product innovation) - June 2007
    • Manulife Japan commences sale of "Jack-in-the-box" annuity product (Product innovation) - June 2007
  • Nationwide
    • Nationwide launches new guaranteed Equity Bond (Product innovation)- April 2007
  • Old Mutual
    • Skandia unites UK Business units to simplify product offering (Refreshed product) - April 07
• APPENDIX
  • Methodology
  • Further reading
  • Ask the analyst
  • Datamonitor consulting
  • Disclaimer