Disability risk is inherently more complex than mortality risk. Influenced by a wide range of variables, including changes to social security provision, unemployment rates, and broader trends in the local market and economy, margins on products with a disability exposure are notoriously volatile. Such products also carry a higher risk of anti-selection than traditional life insurance. Historically, this combination of factors has sometimes resulted in substantial losses to insurers.
Working with Hannover Re, however, our clients benefit from both our global view of disability market trends and our detailed knowledge of local markets around the world – protecting them from uncertainties associated with disability risk.
Hannover Re offers reinsurance to niche insurers with a primary focus on investments, such as bancassurers and unit linked companies, to ensure full control of their disability risks thus enabling these clients to have a complete corporate pension package.
We also add value through our expert support with all aspects of disability risk, including:
- Automated underwriting system
- Medical underwriting expertise
- Claims handling
- Terms and conditions
- Premium calculation
- Portfolio risk selection
- Claims prevention
Clients partnering with Hannover Re are able to offer a full range of disability risk exposed products whilst protecting themselves from unwelcome uncertainty.