Events Library

The presentation will explain how a context-sensitive computer program can help an applicant to give complete and correct information on his medical condition and how the procedure can be optimised to save time and costs. The data received is then automatically assessed for future cost risk, drawing on the knowledge from a deep morbidity database.

This presentation gives a brief overview on essential risk management processes in medical expense insurance and then focuses on case studies looking at various medical expense insurance portfolios in Asian markets, and successes and failures of relevant risk management processes.

The paper proposes a new multi-state modelling framework for a general buy-back accelerated critical illness (ACI) product. This allows the insured to receive a critical illness benefit payable on each of two occasions, when one of the ACI qualifying treatments is satisfied, rather than only once as in the standard ACI product. The additional premium cost of this general buy-back product is compared to a standard ACI product. Further examples of the same premium cost comparisons are provided, which take into consideration that only policyholders with certain qualifying CI conditions are to receive a reinstatement, while incorporating a higher incidence after previously healthy policyholders succumb to other non-qualifying conditions.