Challenges in Unit Link Market Growth in Insurance Businesses

The unit link market has been growing rapidly in the last 2 to 3 years under the impact of the economy and stock market. With the advantage of being an insurance product but can participate in investment, this product has attracted a large number of customers. Many insurers have quickly joined and dominated the market share of this product line. Some enterprises have a large exploitation market share and a high number of policies such as Manulife, Dai-ichi Life, and Prudential. Although there are many advantages in accumulation, financial stability, and profitable investment for customers, this market is facing many difficulties in 2023 due to the impact of a series of mistakes in consulting and supporting customers to sign contracts. So, what is a unit-linked insurance product? What is the law for this market? What is the current state of business activities of life insurance businesses with this product? What are the challenges faced by insurers? These issues will in turn be clarified in this article.