MassMutual to Offer Free Gene Readings to More Insureds
Sears Merritt, a company executive, hopes the DNA results will help people take care of themselves.
MassMutual has come up with a new way to persuade people with life insurance to eat right, exercise and get checkups: Make their DNA do the talking.
The Springfield, Massachusetts-based life insurer is expanding a program that provides eligible insureds with a chance to get a free genetic health risk assessment from a U.K. firm, Genomics.
Genomics looks for mutations in people’s DNA. It then uses the mutation lists to estimate how vulnerable they are to heart disease, diabetes, cancer and other conditions.
Sears Merritt, a MassMutual technology executive, said the company believes that a smaller pilot test with Genomics showed that gene testing reports have the potential to improve people’s health.
“There is high interest from policyowners to act on the information they receive,” he said.
What it means: A DNA test report could be a great wellness coach.
Wellness: People who qualify to buy individual, medically underwritten life insurance tend to be healthier and longer-lived than usual.
But even they may have a tendency to suffer from bad hits that lead to diabetes, heart disease and other health problems.
John Hancock has used information from wearable fitness trackers and rewards programs to encourage its insureds to take steps to improve their health, and Capgemini recently said it sees the “life extension business” as a major focus of insurance company investments around the world.
The pilot test: MassMutual recently worked with Genomics on a small gene testing pilot program. The company offered gene testing to 1,400 term life insureds.
About one-fifth of the participants found a gene of concern, and 71% of the participants said the test increased their interest in modifying their lifestyles and getting physician-recommended diagnostic tests.
The new test: MassMutual is not saying exactly how many insureds can get the new test, but it will be available to insureds ages 35 to 70.
MassMutual will get high-level, anonymized testing results, but it will not see results for specific people.
Insureds will not have to get the tests, and the test results will not affect the insureds’ coverage or premiums, MassMutual says.
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