<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The aim of the paper is to propose a new comprehensive retirement insurance solution (CRIS) that, by offering appropriate modules, can be flexibly adapted to customers’ needs during the accumulation of funds and entitlements and during retirement. Technically, the product is life-insurance-based and includes insurance for sickness and in-capacity, long-term care (LTC), work activation expenses, hospital stays, and tontine and Luxembourg policies. Due to consumers’ changing expectations and needs, the technical dimension of this solution is based on a three-layer insurance product in which individual parts of the protection are supplemented by several additional benefits (types of assistance) that improve the quality of life of insurance participants and allow the ongoing use of the product. The basis for considering such a new insurance product is the theory of change (ToC), which makes it possible to build considerable flexibility into such a solution. A SWOT analysis was used to position the proposed solution in relation to other insurance products and social security offered by the state.</p>
</abstract>

The aim of the paper is to propose a new comprehensive retirement insurance solution (CRIS) that, by offering appropriate modules, can be flexibly adapted to customers’ needs during the accumulation of funds and entitlements and during retirement. Technically, the product is life-insurance-based and includes insurance for sickness and in-capacity, long-term care (LTC), work activation expenses, hospital stays, and tontine and Luxembourg policies. Due to consumers’ changing expectations and needs, the technical dimension of this solution is based on a three-layer insurance product in which individual parts of the protection are supplemented by several additional benefits (types of assistance) that improve the quality of life of insurance participants and allow the ongoing use of the product. The basis for considering such a new insurance product is the theory of change (ToC), which makes it possible to build considerable flexibility into such a solution. A SWOT analysis was used to position the proposed solution in relation to other insurance products and social security offered by the state.

Proposal for a comprehensive retirement insurance solution (CRIS) to mitigate retirement risk based on theory of change

Department of Insurance, Institute of Finance

Poznań University of Economics and Business

Department of Banking and Finance, Faculty of Management

Economics and Business Review

This work is licensed under the Creative Commons Attribution 4.0 International License.

The aim of the paper is to propose a new comprehensive retirement insurance solution (CRIS) that, by offering appropriate modules, can be flexibly adapted to...

Proposal for a comprehensive retirement insurance solution (CRIS) to mitigate retirement risk based on theory of change

Published Online: Jul 13, 2024

Page range: 7 - 30

Received: Oct 23, 2023

Accepted: Jun 13, 2024

DOI: https://doi.org/10.18559/ebr.2024.2.1008

Keywords
modular insurance, life insurance, tontine, long-term care insurance, public-private partnership

© 2024 Krzysztof Łyskawa et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Proposal for a comprehensive retirement insurance solution (CRIS) to mitigate retirement risk based on theory of change

Published Online: Jul 13, 2024

Page range: 7 - 30

Received: Oct 23, 2023

Accepted: Jun 13, 2024

DOI: https://doi.org/10.18559/ebr.2024.2.1008

Keywordsmodular insurance, life insurance, tontine, long-term care insurance, public-private partnership

© 2024 Krzysztof Łyskawa et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
modular insurance, life insurance, tontine, long-term care insurance, public-private partnership