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

Łyskawa Krzysztof () and Bielawska Kamila ()
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Łyskawa Krzysztof: Department of Insurance, Institute of Finance, Poznań University of Economics and Business, al. Niepodległości 10, 61-875 Poznań
Bielawska Kamila: Department of Banking and Finance, Faculty of Management, University of Gdansk, ul. Armii Krajowej 101, 81-824 Sopot, Poland

Economics and Business Review, 2024, vol. 10, issue 2, 7-30

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.

Keywords: modular insurance; life insurance; tontine; long-term care insurance; public-private partnership (search for similar items in EconPapers)
JEL-codes: D14 G22 G28 H55 I13 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecobur:v:10:y:2024:i:2:p:7-30:n:1001

DOI: 10.18559/ebr.2024.2.1008

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