Features Health
CRITICAL
John Ferguson looks at the critical illness experience in Asia and what insurance claims tell us about future trends in the area
G
en Re has been conducting surveys of critical illness for nearly 30 years. The first study looked at experience from 1990-1994 and analysed 4,600 claims. The most recent study, covering experience from 2012-2015, involved analysing more than 1.2m claims, reflecting the large growth in critical illness products in Asia. In total, 39 companies participated, from Hong Kong, Singapore, Malaysia and China. The survey focused mostly on traditional acceleration critical illness products – acceleration meaning that the benefit is paid either on death or on earlier diagnosis of a critical illness.
ILLUSTRATION: IKON IMAGES
ANALYSIS
22 | THE ACTUARY | JANUARY / FEBRUARY 2020
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