Long-term care insurance (LTCI) carriers may be able to hold down claims costs using the same kinds of analytical and condition management programs that major medical insurers use.
John Criswell, the chief executive of Pulse8, talked about that idea recently during a presentation at a conference organized by LIMRA.
LIMRA has posted a copy of the LTCI data presentation on its website.
Criswell talked about many sources of data that show, for example, how an LTCI carrier might be able to distinguish applicants who are clearly bad LTCI risks from those with chronic conditions who might nevertheless be reasonably good LTCI risks.
Once an LTCI carrier has sold a policy, it could use similar techniques to identify policyholders who might benefit from help with controlling risk factors that could eventually lead to LTCI claims, Criswell said, according to a copy of his presentation.