26 October 2015 | House of Finance, Frankfurt

Solvency II, Ultralow Interest Rates and Consumer Protection – Life Insurance Product Development in Upheaval

Dr. Alf Neumann, Member of the Executive Board, Allianz Lebensversicherungs-AG


On the wake of the implementation of solvency II the European Life insurance industry is experiencing an ultralow interest rate environment, giving rise to public speculation about the future of life insurance. At the same time, the financial sector, including life insurance, is faced with a strong call for improved consumer protection on a national and European level. While there is little to no evidence for short-term failures of companies, the current development will have strong and lasting impact on the product portfolio of life insurance companies. Dr. Neumann will provide an overview on new business trends in life insurance in Europe,  driving factors for mid-term product development and key considerations for the future set-up of product development processes. The talk will  conclude with a discussion on the balance between individual and collective elements in life insurance products.

Dr. Alf Neumann has been on the board of Allianz Lebensversicherungs-AG since June 2012, being in charge for private customers and product development, including operations, legal and taxes. He is heading the supervisory board of Deutsche Lebensversicherungs AG and he is a member to the supervisory boards of Allianz Pensionsfonds and Protektor AG. He is a member of the German Actuarial Society (DAV). Dr. Neumann started his carrier at Allianz Leben in 1991  after concluding his PhD in Würzburg in pure mathematics.  He held various positions in product development and actuarial research, including the lead for international life product development of Allianz Group from 2006-2011.