Insurance carriers are increasingly focused on their policyholders' overall wellness and wellbeing. At RGA, we believe wellbeing consists of three essential components: physical, mental, and financial health. The insurance industry naturally focuses on physical health, but mental and financial health don't always get the attention they deserve. I'd like to balance the scales, so to speak, by sharing some of the work our partners and the RGA/RGAX team are doing to help carriers address their customers' mental health needs.
Promoting Peace of Mind: Mental Health and Insurance, February 2023
This report by The Geneva Association is baseline reading for carriers looking to help promote customer wellbeing. We know that COVID-19 did considerable damage to the state of mental health worldwide. This report looks at the actual numbers as well as the ultimate costs to people's lives, the economy, healthcare systems, and life insurance carriers.
The second half of the report examines the intersection between mental health and insurance. This section includes a deep discussion of the various types of products that carriers are leveraging to address this challenge. The report also discusses the obstacles facing the insurability of mental health issues, such as social stigmas, fraud, abuse, and the shortage of skilled mental health workers.
Here are three resources related to the report:
Promoting Peace of Mind: Mental Health and Insurance (full report)
Promoting Peace of Mind (webinar)
Promoting Peace of Mind (report summary)
Product Trends Around the World 4Q 2022
In our fourth quarter report, we highlighted several of the cutting-edge solutions our partners provided. The wellness category was very active last year.
Get the Report: Product Trends Around the World 4Q 2022
Moving Past the Crisis in Mental Health
Erin Crump, RGA Vice President of Business Initiatives, interviewed Dr. Edward F. Lawlor, Distinguished Professor and Dean Emeritus at the Brown School of Social Work and Public Health at Washington University in St. Louis. The interview focuses on the patchwork approach currently being used to address the global mental health crisis and how life insurers and technology can help address this challenge.
Dr. Lawlor is also Board Chair at Provident Behavioral Health, and one of the examples he mentions is the work his organization is doing to support the implementation of the new 988 crisis line. As he notes, Provident Behavioral Health is one of this service's major national and state providers, and the RGA Foundation is offering much-needed support.
Access the article: Moving Past the Crisis in Mental Health
Global Perspectives on Suicide: Data, Risks, and Perspectives
Perhaps no issue underscores the mental health crisis more than the worldwide rise in suicide and suicidal ideation. However, to solve a problem, one must first understand it. In this webinar, Dennis Barnes, RGA Executive Vice President and RGAX CEO, moderates a panel discussing this critical issue and the work being done to help address it.
Watch the webinar: Global Perspectives on Suicide: Data, Risks, and Perspectives
Can Data Help Close the Mental Health Treatment Gap?
In this video, Erin Crump, RGA Vice President of Business Initiatives, looks at the intersection of claims and mental health and makes the case for leveraging underwriting data to better understand customer needs.
Watch the video: Can Data Help Close the Mental Health Treatment Gap?
CEO Perspectives: Who's Caring for the Caregivers?
In this article, Ali Ahmadi shares his story of caring for elderly loved ones and how this led him to found TCARE, an organization focused on providing emotional and physical support for friends and family members tasked with caring for elderly loved ones. It's a heartwarming story about an entrepreneur making a real difference in the lives of others.
Read the article: Who's Caring for the Caregivers?
Will you join us on the journey to better mental health?
Mental health and wellness are not new initiatives for RGAX. Even before COVID-19 exacerbated the issue, we were working with partners to find solutions. We also recognize that there are no easy solutions, and we expect to be addressing this challenge for years to come. If you'd like to join us on that journey, let's talk. You can reach out to us here to start the conversation.
