More insurance policies that apply across Europe's national boundaries must be developed over the next five decades concludes new research by the Chartered Insurance Institute (CII).
Prepared in conjunction with Chatham House, the study, ‘Ageing and migration trends', looks at the likely impact on the insurance sector of the twin phenomena of the ageing of European society and probable large-scale migration to fill the resulting labour vacuum. While other parts of the world are likely to experience dramatic population growth over the next half century, the EU is set to see a fall.
New health, life and travel products and services for those who settle in the EU, or cross country boundaries as a matter of course, whether temporarily or permanently, will be needed. The industry must develop a range of products to suit differing nationalities and circumstances.