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ProcurementIQ’s Life Insurance procurement research is intended to help you save time and money in the initial research stages of the buying process. Our data and analysis explain the characteristics, pricing dynamics, supply chain risks and negotiation tactics of Life Insurance to help your company negotiate strategically with suppliers. Our report insights also give your company the credibility to work with internal stakeholders and executives to better manage the sourcing process.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard

Life Insurance - Recent Price Trend

In the three years to 2018, premiums for life insurance have been increasing marginally at an estimated annualized rate of 0.2%. Rising demand for life insurance has been tempered by strong competition among insurers, contributing to meager growth in premiums. Moreover, premiums have increased steadily year over year, which has engendered a stable purchasing process for buyers. Overall, low price.

Life Insurance - Total Cost of Ownership

The total cost of ownership for life insurance is low. Ultimately, buyers can expect to pay less than 50.0% of the benchmark price per year for these extra costs. Training expenses account for the bulk of additional costs, wherein buyers must train their staff on suppliers’ processing procedures. For example, buyers need to disseminate information to their staff about how to submit payments,.

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About this Report

This report is intended to assist buyers of life insurance. This type of policy provides a specified amount of money to a buyer's stated beneficiary in the event of their death. Buyers are also referred to as policyholders. This report includes life insurance policies for both individuals and groups, but excludes credit life insurance, which pays off the policyholder's debts if he or she dies. This report also excludes annuities.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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