In the Middle East, life insurance penetration is less than 1% (Swiss Re, 2014).
Understanding the statistics
This shocking statistic from Swiss Re highlights the fact that many families in the Middle East are vastly under insured. Zurich took this further and researched its own Non Resident Indian customer segment. What we found was that while over 90% of these customers are married, 50% of the married men only have single life protection policies.
A gap in the family protection
This means a lot of wives are left uninsured. But what if something were to happen to your clients wife?
The wife of any household takes on many roles for her family – teacher, chef, doctor, chauffeur – and therefore her need to be insured is great.
Because this family protection gap is often overlooked it presents a strong business opportunity for you.
The business opportunity
Ensure that your clients protect their whole family in the best possible way. Understand Zurich’s insurance cover for stay-at-home parents, and use our customer brochure to help create an awareness of this need with your clients.
Your Zurich Account Manager can also provide you with a list of your clients that are married men with single life policies and a sample communication letter to help you get started in helping your clients close this gap.