Conclusion and outlook

In recent years the insurance industry has assumed an increasing amount of social responsibility in its role as arisk carrier. As legislators in many countries have been forced to transfer the system of state benefits to the private sector, intelligent and innovative solutions are now needed more than ever. This is especially true of occupational disability insurance which not only displays many country-specific features but also faces completely new risks as a result of the rapid changes taking place in the world of work. In light of these developments, the real challenge facing the insurance industry is to develop a system which is fair and equitable for insureds but at the same time maintains insurers' profitability in the long term.

Karl-Heinz Schaller is a section head in the Life and Health Division and is responsible for Germany and Switzerland. He is a specialist in the field of biometric risks.