Life Conference 2023
22 - 24 November

A globally recognised increase in the prevalence of mental health disorders is adding additional complexity, not only to underwriting and claims assessment but also with the pricing of disability-based products. 

In recent years, both before and after the COVID-19 pandemic, there has been a significant increase in both the number of applicants disclosing a history of mental health conditions and the number of claims made. This can also be explained by a growing number of newly recognised mental health conditions and societal destigmatisation, which has led to greater public awareness and acceptance. 

As more people with mental health problems share their symptoms and seek treatment, and as awareness of potential risk factors increases, doctors are now diagnosing mental illness more frequently. 

In response to this trend, Munich Re undertook a review of its underwriting guidelines with the objective of increasing the boundaries of insurability and taking a more differentiated view of each applicant.

In this presentation, Dr Laura Laprell will explain how the findings of Munich Re’s research will help insurers address both the complexity and increasing incidence of mental health disorders in all stages of the protection journey.

As a leading reinsurer, we challenged ourselves on how can we address the increasing frequency and complexity, whilst being able to maintain fair and risk-adequate underwriting guidelines? To answer these questions, experts at Munich Re have developed a holistic solution: the Mental Health Calculator.

From a virtually uninsurable disease in the first decades of this disease, to a near standard rates risk for many people living with HIV, learn how advances in medicine and improved data monitoring have resulted in HIV being considered as just another chronic disease. 

In this presentation, Dr Steven Wiseman will share how Munch Re carried out extensive research with the conclusion resulting in people living with HIV now having access to protection types other than Life.

As a leading reinsurer, working with global experts in HIV we challenged ourselves on how the industry could insure a cohort of lives who were unable to access insurance. We are delighted that the conclusion of our research has resulted in such a positive outcome for people living with HIV.  

Cancer is a major driver of mortality and disability in Europe. The incidence of certain cancers is increasing in younger persons, which makes cancer a relevant disease for the insurance industry. With Right to be Forgotten (RTBF) regulations being in place in several, European countries, there is an ongoing debate whether RTBF could lead to long-term changes in portfolio mix and best estimates. 

The majority of RTBF regulations concern for life cover for mortgages but we are increasingly seeing EU member states widening the scope of RTBF by reducing time frames, extending product ranges and including other diseases.  

Dr Mathias Orban will explain the impact a RTBF could have when one or more of these three levers are pulled. He will present the range of the number of persons affected by RTBF in the UK, and which factors could influence the impact of RTBF. He will present concrete scenarios for different constellations of the decisive factors.

From this presentation, the audience will learn how the impact of a RTBF can vary depending on the scope of the agreement and which factors, both insurance- and medical-wise, contribute to this impact.

As a leading reinsurer, Munich Re has the capability to model the market impact of a RTBF regardless of timeframe, breadth of disease and product range.