Enhancing risk management for an aging world

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Abstract

As the world confronts unprecedented global aging, academics and policymakers are growing increasingly aware of the need for better risk management tools to handle the demographic transition. It is therefore imperative to identify innovative insurance and financial market products that can enrich the range of options for households, firms, and governments facing the challenge of an aging population. After outlining thoughts on how rising longevity might shape financial markets, we discuss opportunities for the finance and insurance industries in this arena. We also highlight how policymakers could respond to improve efforts to better manage risk.

JEL Classification

G22 D11 H55 J32 D14 D15 

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Copyright information

© International Association for the Study of Insurance Economics 2018

Authors and Affiliations

  1. 1.International Foundation of Employee Benefits Professor, Professor of Insurance/Risk Management and Business Economics/PolicyThe Wharton School of the University of PennsylvaniaPhiladelphiaUSA

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