Life insurance companies would be authorized to offer Annuity Plans at the retirement age of the participants. For insurance businesses, stringent solvency standards have been introduced and minimum capital requirements have been enhanced. Insurance companies have also been directed to obtain reinsurance treaties from the international “A” class re-insurers. Takaful rules have been issued to allow for Islamic insurance products.
Moreover, if the data generated are analysed and consumers are offered matching products and services, they will lose sight of the alternatives. In the marketplace of the internet economy, the winner usually takes it all.