Boston, April 30, 2020 – The COVID-19 pandemic has challenged the day-to-day operations of the life insurance industry in the U.S. and across the globe. And while these challenges will have long-term impacts, the number and monetary value of the unanticipated death claims that will come from this virus are the most immediate threats. It isn’t just the dollar amount that carriers should fear but also their preparedness to handle an unexpected influx of death claims and to manage the experience for beneficiaries.

This report offers life insurance executives the estimated volume of death claims associated with COVID-19, the monetary impact it will have on the insurance industry, and information on how to prepare for and prevent the challenges ahead. It relies on Aite Group’s death claim estimates for adult life insurance policies in the U.S. as a result of the COVID-19 pandemic, which were developed utilizing several data sources, including the Life Insurance Marketing and Research Association (LIMRA), the National Association of Insurance Commissioners (NAIC), the World Health Organization, the U.S. Centers for Disease Control and Prevention, the European Centre for Disease Prevention and Control, and the U.S. Census.

This 26-page Impact Report contains 11 figures and five tables. Clients of Aite Group’s Life Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Amazon, AM Best, Facebook, Fitch Ratings, Medical Information Bureau (MIB), State Farm, and USAA.