GBV summary and Key Findings Stability in Unemployment Rate: The OECD unemployment rate remained stable at 4.8% in September 2023, consistently staying below 5.0% since July 2022. This period saw an increase in the number of unemployed persons in the OECD, reaching 33.3 million, with a notable rise in unemployed men​​. Category-wise Stability and Youth Unemployment Concerns: Unemployment rates were broadly stable across all defined categories: men, women, youth

In a move that could reshape the health insurance landscape, industry giants Cigna and Humana are reportedly in advanced discussions for a monumental merger. This deal, valued at an estimated $140 billion, is poised to create a new leader in the health insurance sector. We delve into the implications of this potential merger and how it could redefine competitive dynamics in the industry. The Merger: A Strategic Game-Changer Cigna

GBV’s Summary of OECD Consumer Price Index and Headline Inflation Rates Report – November 2023 Key Findings: General Trend of Inflation: The OECD headline inflation eased slightly to 6.2% in September 2023, down from 6.4% in August. This change follows previous increases in July and August. Inflation decreased in 27 OECD countries but rose in 8, including significant rises in Spain, Costa Rica, Slovenia, and Türkiye. Notably, Türkiye, Hungary,

The O.C. Tanner 2024 Global Culture Report provides insightful data and perspectives on workplace culture and the evolving employee-employer relationship. Here’s GBV’s comprehensive summary focusing on the changes in these areas: Workplace Flexibility Increasing Flexibility and Fairness: The report highlights a trend towards more flexible work environments, emphasizing the need to make this flexibility equitable across different roles​​. Employee Expectations and Benefits of Flexibility: Employees are not necessarily seeking

Zurich Integrated Benefits‘ new report “The Future of Employee Benefits: 2030”, provides an insightful analysis of the evolving nature of work and its implications for employee benefits. The report outlines five key pillars that are shaping the future of employee benefits. These include Personalization, Wellbeing, Empowerment, Impact, and Technology. Each pillar is accompanied by micro-trends and scenarios demonstrating their application in the future workplace. The analysis focuses on these

The third iteration of the European Retirement Week will commence with a live inauguration on Monday, November 27th. This notable 2023 Retirement calendar event is set to feature prominent keynote addresses from influential figures, including Fausto Parente, the Executive Director of EIOPA; Frances Fitzgerald, Member of the European Parliament; Katarina Ivanković Knežević, the European Commission’s Director of Social Rights and Inclusion from DG EMPL; and Didier Millerot, leading the

The report titled “Global Pension Risk Transfer Market Outlook” by Milliman, dated November 3, 2023, provides a comprehensive analysis of the Pension Risk Transfer (PRT) markets, focusing on key territories such as the United Kingdom, the United States, the Netherlands, and Ireland. The report outlines the global landscape of Defined Benefit (DB) pension schemes and their interaction with the PRT market. It emphasizes the importance of stakeholders understanding the

The Imperative of Systematic Health Tracking in the Workplace In today’s fast-paced corporate environment, the health and wellbeing of employees are often overlooked. Most companies focus on direct expenses or liability exposure, such as disability claims and on-the-job injuries, neglecting the broader spectrum of employee health. This narrow focus leaves a significant gap in understanding and improving the overall health of the workforce. To address this, a systematic approach

In the first quarter of 2023, the Organisation for Economic Co-operation and Development (OECD) reported a notable rise in real household income per capita, marking a 0.9% increase and surpassing the growth in real GDP per capita, which stood at 0.3%. This recent uptick is not an isolated event but part of a continuing trend, representing the third consecutive quarter of growth and the most significant quarterly rise since

OECD Indicators Reveal Trends in Health Spending, Digital Health, and Systemic Transformation The Organisation for Economic Co-operation and Development (OECD) has released its “Health at a Glance 2023” report, offering a critical analysis of health system performance and health indicators across member and partner countries. Health Spending: A Global Perspective The report notes that in 2019, before the pandemic, OECD countries spent an average of 8.8% of their GDP

The 2023 report entitled “Consolidation in the Global Insurance Brokerage Market: How to Create Value Executing a Consolidation Strategy” provides a comprehensive analysis of the consolidation trends within the global insurance brokerage sector. The report delves into the dynamics of the market, the drivers behind consolidation, and the opportunities and challenges that come with it. Market Overview and Growth Projections The author Alvarez & Marsal, provides a detailed analysis

The global health crisis dramatically transformed how we operate, pushing numerous companies into a remote working model, while others adopted a blend, known as the hybrid model. Recent statistics from Pew Research Center indicate that 35% of employees capable of remote tasks are sticking to a fully remote routine, and 41% are following a hybrid schedule. Yet, as the dust settles post-COVID-19, many corporates like Zoom and Meta are

In an anticipated leadership shake-up, Bruce Broussard, Humana‘s CEO with over a decade at the helm, will relinquish his role as the head of the insurance giant known for its brands like CenterWell in home health, pharmacy, and primary care domains. Taking his place, starting January 8, 2024, will be Jim Rechtin, who currently leads Envision Healthcare. This transition will see Rechtin collaborating closely with Broussard until the second

With over 16 years of dedicated service at Gallagher, Ashley Wolff has showcased a trajectory of consistent growth and leadership. Her recent appointment as the Area Vice President for Multinational Benefits and HR Consulting in the South Central Region, showcases Ashley’s expertise lies in optimizing sales operations. Her tenure at Gallagher has seen her wear multiple hats – from being a Sales Enablement Leader for various regions, including the

In the ever-evolving landscape of global economics, the concept of wealth distribution has taken center stage. One policy that has garnered attention is profit-sharing, especially in its mandatory form. The research paper titled “The Effects of Mandatory Profit-Sharing on Workers and Firms: Evidence from France” by Elio Nimier-David, David Sraer, and David Thesmar offers a deep dive into this subject. Let’s unpack their findings. Historical Background of Profit-Sharing in

Leading B2B2C insurance provider, Allianz Partners, joins forces with global insurtech giant, bolttech, to introduce advanced device and appliance insurance in the Asia Pacific and the US. This strategic alliance leverages the unique strengths of both companies, aiming to seamlessly integrate insurance offerings during customer interactions. This collaboration will offer integrated solutions for businesses like e-commerce platforms, telecom providers, banks, insurers, and OEMs. The goal? Simplifying the process for

In recent years, the global employment landscape has seen a myriad of ups and downs. However, the Organisation for Economic Co-operation and Development (OECD) countries have emerged as beacons of hope and resilience in the global labour arena. The most recent data for the second quarter of 2023 confirms this trend, showcasing record-breaking numbers in both employment and labour force participation rates. Soaring OECD Rates As of the second

The insurance realm is undergoing a transformative phase, spurred by digital advancements. These digital shifts not only pave the way for innovative growth and efficiencies but also introduce new risk dimensions. A notable outcome of this digital evolution is the surge in companies’ intangible assets, particularly digital data. However, this digital reliance also exposes these assets to threats like cyberattacks and business disruptions. Swiss Re Institute‘s recent sigma study,

Leading global professional services company, Marsh McLennan (NYSE: MMC), specializing in risk, strategy, and human capital, has announced the appointment of Pat Tomlinson as the new President of Mercer. Mercer, a pivotal arm of Marsh McLennan, focuses on revolutionizing the work landscape, optimizing retirement and investment results, and promoting genuine health and well-being. Martine Ferland will continue her role as Mercer’s CEO and Marsh McLennan’s Vice Chair, supervising Mercer’s

Bharti Life Ventures is on track to secure full ownership of Bharti AXA Life Insurance Company. On Wednesday, Bharti Group announced a definitive agreement to purchase AXA’s 49% share in the life insurance entity. This move follows the 2020 decision by Bharti and AXA to integrate Bharti AXA General Insurance with ICICI Lombard and AXA’s subsequent departure from ICICI Lombard’s shareholder list. The deal is anticipated to finalize by

APRIL International, a leading French and global health insurance provider, is proud to share its recognition as the Top International Individual Health Insurance Provider at the Health & Protection Awards 2023. This distinguished honor complements the firm’s growing list of accolades, including a consecutive 5-star service rating in the 2023 International Private Medical Insurance Report by Health and Protection. Recently, APRIL International held its debut broker conference in London.

Aon’s 2024 Global Medical Trend Rates Report, conducted across 113 Aon offices, provides insights into the anticipated percentage increases in medical plan unit costs. These projections account for factors such as medical price inflation, technological advancements in the medical field, and shifts in plan utilization patterns. In the aftermath of the pandemic, the world has witnessed significant inflationary conditions and economic volatility. Despite signs of recovery, unstable economic conditions

The AI Revolution in Insurance The insurance landscape is undergoing a seismic shift, thanks to the power of Artificial Intelligence (AI). From predictive analytics to the rapid development of new products, AI is reshaping the industry’s very foundation. With tools like ChatGPT and other generative AI models, tasks that once seemed laborious are now streamlined, enabling insurers to process vast amounts of data with unparalleled efficiency. The Double-Edged Sword

2023 Digital Strategy Overview The European Insurance and Occupational Pensions Authority’s (EIOPA) digital strategy 2023, aims to support consumers, markets, and the supervisory community through digital transformation. Realising that digital transformation is reshaping the world, influencing how businesses operate, how people connect, and how information is exchanged, EIOPA recognises that the insurance and pension sectors are no exception, with digitization altering product development, underwriting processes, and consumer behavior. The Digital

Moritz Löschner has taken on a new role as the Regional Director of Customer and Distribution Management at Zurich Eurolife S.A. Having been with Zurich for over a decade, Moritz has worn multiple hats, from roles in Customer & Distribution Management to Underwriting positions in both Corporate Life & Pensions and Commercial Insurance sectors. His journey with Zurich began in 2009 when he became a part of the Global

In an era where global risks are escalating and the insurance industry is pivoting towards a more customer-centric and digitally adept future, the “2024 Global Insurance Outlook” by Deloitte Center for Financial Services provides a comprehensive exploration into the multifaceted dynamics of the industry. The research, accessible here, underscores the pivotal role of insurers in not only acting as society’s “financial safety nets” but also evolving into sustainability ambassadors,

As the world observes World Mental Health Day today, October 10th, International SOS,World Mental Health Day today, October 10th, International SOS, a provider of health and security risk services globally, underscores the increasing significance of mental health resilience within the international workforce. In a world grappling with persistent and far-reaching crises, the impact of these challenges on employees’ mental well-being has never been more pronounced. The convergence of a