Our Business Insurance Solutions provide policyholders with access to coverage in the event of a life-changing event. Protection offers flexibility and security for clients when they need it most.
Corporate key-man insurance, also known as key person insurance, is a crucial form of business protection that helps safeguard your company’s financial future in the event of an unexpected loss of a vital employee, such as a founder, CEO, or top executive.
This insurance can provide a lump-sum payout to the business if the key person passes away or becomes critically ill, ensuring continuity and financial stability during a potentially disruptive period. The payout can be used for:
Cover revenue losses.
Recruit and train a replacement.
Manage other business expenses.
Over 19 million new cancer cases were diagnosed worldwide in 2020, with an estimated 10 million deaths occurring due to cancer in the same year.
Cancer is the most common cause of critical illness insurance claims worldwide, accounting for about 60-70% of all claims. Breast cancer, prostate cancer, and colorectal cancer are among the most frequently claimed cancers.
Approximately 12.2 million people suffer a stroke annually worldwide, with 6.5 million deaths resulting from strokes each year.
Strokes account for around 10-15% of critical illness insurance claims. This reflects the significant impact strokes have on individuals' health and their ability to work.
These diseases, including conditions like chronic obstructive pulmonary disease (COPD) and asthma, affect around 544 million people globally, causing 3.23 million deaths annually.
Cardiovascular diseases are the leading cause of death globally, accounting for nearly 18 million deaths each year, which is about 32% of all global deaths.
Heart-related conditions, including heart attacks and coronary artery bypass surgery, make up approximately 15-20% of critical illness insurance claims globally.
These diseases, including conditions like chronic obstructive pulmonary disease (COPD) and asthma, affect around 544 million people globally, causing 3.23 million deaths annually.
Insurers typically pay out 90-95% of all critical illness claims, indicating a high rate of approval when policyholders meet the claim criteria.
Claims related to business interruption due to natural disasters, fires, or pandemics have risen sharply, accounting for around 10-15% of claims in recent years.
78% of employees say that a comprehensive benefits package is a key factor when deciding whether to accept or remain in a job, and companies offering robust employee benefits experience 19% lower turnover rates, showcasing the impact on retention and job satisfaction.
