Changing life cycles and their impact on insurance

Abstract

Demographic changes are often described as major forces that are going to shape tomorrow's economies. We examine how far such a claim is valid, shortly reviewing fields such as potential economic growth, financial markets, pensions, the demand for additional old age income insurance, health and old age invalidity. On the whole, demographics clearly matter. At the same time, its impact will be mediated by many other determinants, including changes in public policy design and behavioural responses at the individual level. © 2007 The International Association for the Study of Insurance Economics.