A difficult test for the mind
Mental illness has now moved to the top of the list of triggers for disability insurance. There has been a heated debate in the media over whether the number of such illnesses is actually increasing, or whether it is more a case of much ado about nothing. TOPICS Online looks at the implications of the trend for the business model for disability insurance.
What are the implications of this trend for insurers?
Action needs to be taken
Mental illnesses require a change of approach in terms of claim assessment and case management. "Providers need to organise their risk management in a more interdisciplinary way than before," Lewerich points out. A comprehensive overall picture can only be obtained if the actuarial department, insurance medicine and claims management all collate their findings. It is important to do this to increase the visibility of the risks from mental illnesses and the resulting challenges in the area of claims management." So what is needed to achieve targeted improvements is close cooperation between all the disciplines involved in order to establish a basis for a realistic assessment and appropriate portfolio management.