Aging populations: How governments and the insurance industry can work together

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By Stephen H. Conwill | 17 June 2013

Our societies are aging. Dependency ratios will increase in a highly predictable fashion. We face a challenge—not an insurmountable one but a difficult one—and we are running out of time. Solutions will require collaboration of governments and the private sector. They will require insurance industry vision and leadership.

The insurance sector will play a vital role as societies ensure that they have adequate resources to care for aging populations and a consensus about how the resources should be allocated. Our success in addressing the challenges of our aging populations will hinge on robust economies, infrastructure, public health and education.

This executive summary outlines the issues and ideas developed in six papers prepared by insurance company representatives from six large insurers / reinsurers for discussion at the International Insurance Society’s 49th annual seminar in Seoul, Korea, in June, 2013.