Generali introduces portable electronics insurance

Generali | December 18, 2019

Generali Specialty Insurance Division is now offering insurance policies on portable electronics. The portable electronics eligible for coverage include mobile phones, tablets, gaming devices, and even hearing aids. Since the insurance product covers typical risks and issues device owners experience – like theft and malfunction – a wide range of portable electronic devices can be covered. “We are very excited to begin offering our portable electronics solution to customers throughout the United States,” said Generali US executive vice-president and chief insurance officer Jose Luis Menéndez. For hearing aids, the specialty insurance unit has partnered with national retailer My Essentials - one of the largest networks of dealers for hearing devices in the US. As part of the partnership, the retailer will include Generali’s portable electronics insurance product as a post purchase offering.

Spotlight

This paper seeks to explain high-level trends in the asset allocation of major life insurers across eight Asian markets over the last four years to 2015, using data collected from various regulatory and audited sources, enriched with subjective commentaries from market participants. This research aims to compare and contrast some aspects of these Asian markets with the United States. Unsurprisingly, the growth rates, product mixes, and investment markets vary across geographies, but one global theme is the current low level of interest rates. This leads to a fundamental challenge in sourcing long-term assets with decent yields and acceptable risks to back life insurance liabilities. Asian insurers can be heavily constrained in what and how much assets they can buy and by the lack of depth and breadth in their respective asset markets. As an example, in Taiwan, the entire government bond market is less than half the size of life insurance industry assets, which is usually not the case for developed markets such as the United States.

Spotlight

This paper seeks to explain high-level trends in the asset allocation of major life insurers across eight Asian markets over the last four years to 2015, using data collected from various regulatory and audited sources, enriched with subjective commentaries from market participants. This research aims to compare and contrast some aspects of these Asian markets with the United States. Unsurprisingly, the growth rates, product mixes, and investment markets vary across geographies, but one global theme is the current low level of interest rates. This leads to a fundamental challenge in sourcing long-term assets with decent yields and acceptable risks to back life insurance liabilities. Asian insurers can be heavily constrained in what and how much assets they can buy and by the lack of depth and breadth in their respective asset markets. As an example, in Taiwan, the entire government bond market is less than half the size of life insurance industry assets, which is usually not the case for developed markets such as the United States.

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