Life insurers are hungry for prospects.
Obesity and related health problems are knocking many people out of the easily insured population.
Program designers at Swiss Re think those conflicting trends could create an opportunity.
“We’re trying to open up the risk pools to people with mild chronic conditions,” JJ Carroll, head of Swiss Re’s new solutions group strategy development and research, said in a recent interview. “We’re hoping to start small.”
Swiss Re hopes to create programs aimed at people with relatively mild forms of conditions such as Type 2 diabetes, and at people who have taken effective steps to manage their conditions and reduce their risk of developing serious complications.
Swiss Re is working to test that idea by setting up pilot programs with life insurance company partners. The programs would be aimed at people with Type 2 diabetes who now fall a little outside the group of people who normally could qualify for ordinary life insurance coverage at good rates.