The improvement in cancer survival rates has led to a growing life insurance need for cancer survivors worldwide. To mark World Cancer Day, Manuel Plisson, SCOR Global Life Head of Inclusive Underwriting & Medical Expertise, discusses an inclusive rating approach that could help address this protection gap.
It sounds a bit flippant, yet it is a request that medical directors and underwriters see quite often. An informal application or quick quote comes in with a request about “history of brain tumor.” Or maybe a question of pancreatic cancer. The underwriter is expected to make an educated guess based on these minimal findings. All tumors truly aren’t created equal, and people have individualized responses to different abnormalities. The more information supplied the better chance there is for not only a placeable but a sustainable quote.
Thyroid cancer (TC) is the most prevalent endocrine cancer, accounting for about 95% of all such malignancies. The incidence of this cancer has increased dramatically in the last three decades.
Complicated pathology reports can contain significant amounts of genetic information. It has become vital for insurance company medical directors, underwriters, and claims professionals to understand "driver mutations" present in, or absent from, a tumor's genome, well as targeted therapies and their mechanisms. This article will examine how genetics contributes to cancer development, treatment, and prognosis.
Liquid biopsies are noninvasive tests that could potentially lead to early detection of cancer by identifying the genetic material cancerous tumors shed into the bloodstream and other bodily fluids. It is now possible to test for biomarkers such as circulating tumor cells (CTCs) and circulating tumor DNA (ctDNA). As these tests gain a foothold in clinical practice, insurance professionals must understand liquid biopsies and the implications for underwriting and product development.
For life insurers, a major source of mortality risk mitigation is prudent underwriting at the time of application, which should ultimately reduce future claim costs. One way to refine the underwriting process is through measuring the impact of underwriting using insurance claims experience.
Getting insurance for individuals with cancer has its challenges. What was the cancer, how was it treated, how long has it been since therapy, what has the follow-up treatment been? The keyword in these scenarios is treatment. What if there has been no treatment at all? Prostate cancer is one of those processes where both doctors and patients may opt to defer treatment because of the slow growing nature of the disease, but the unknown outcome makes getting insurance even more problematic.
Patients with early stage, low risk prostate cancer are typically treated with radical prostatectomy, external beam radiation therapy or active surveillance. We examine how these different management options affect life insurance underwriting practices.
Researching cancer mortality over the past few months has proved to be a bit of an eye-opener, and in three ways: firstly the level of excess mortality seen in a number of cancers, secondly the duration over which an extra risk persists, and thirdly that excess mortality may extend over a considerable period.