The consequences of a Covid 19 disease should, according to the assessment of Sonja Possin not be included in the accident insurance. “Even if the recognition of the statutory accident insurance as an occupational disease in the medical field arouses desire and creates market pressure, one must refrain from it,” said the medical department head of E + S Rückversicherung at the 14th MCC specialist forum “Accident Insurance”.
“There are already many reports of long-term effects and I see the danger that we will have to talk about a flood of consequences that are difficult to objectify.” She fears that Covid-19 will end for insurers like Lyme disease with a tick bite. There, too, clinical pictures such as fatigue or reduced performance can hardly be assessed. With a vaccination against the pandemic virus, it is difficult to prove a disease and its consequences anyway. “We know that pandemics are often ruled out, but we don’t know every single clause,” she said from the perspective of the re-insurer on the primary insurer.
More and more products in which pre-existing illnesses are only considered from 50 percent
There is generally growing pressure to insure further risks in order to revive the rather stagnating market with old customers. Especially in combination with a reduced health check, which seems necessary for digital offers, she considers many other inclusions to be problematic. For example, the inclusion of mental disorders is being discussed louder and louder. In view of the fact that 13 percent of the female and six percent of the male population suffered from depression, she fears an increasing disability here.
The trend towards an increasing participation share can also be observed in the market. There are more and more products in which pre-existing illnesses are only considered from 50 percent. 14 insurers would offer 27 tariffs in the brokerage market in which participation is waived. “We are observing the trend in the markets of exclusivity to adapt to the broker market and to expand participation.” The basis for this data was 193 tariffs examined by Morgen & Morgen for a sample coverage with 50,000 disability sum and a progression of at least 200 percent.
Seal of the Stiftung Warentest important
Jutta Jakobs, Head of Accident / Travel Claims at HDI Versicherung AG, reported, among other things, that “perhaps 25 percent” should be involved in older victims. “Without participation, this has a huge financial impact on older people. That goes into the progression quickly. ”
Stephan Schinnenburg, CEO of Deutsche Familienversicherung AG, said, among other things, that the seal of the Stiftung Warentest was important in the predominantly digital sale of DFV – and here the participation rate in the tariff evaluation is an important feature. Possin recommended that if there was a high participation rate, “not to slim down at the same time during the risk assessment”. She often hears from direct insurers that the effects of the underwriting fizzle out over time. Schinnenburg reported that medical diagnoses are recognized and regulated according to the ICD International Statistical Classification of Diseases and Related Health Problems. Concomitant and previous illnesses did not play a role.
According to GDV figures and E + S estimates, the number of accident insurers has decreased from 135 (2011) to an expected 123 (2020) in the last ten years. The contributions will increase by an estimated 0.6 percent to 6.7 (6.66) billion euros in 2020, reported Mariko Wassy, Head of Technical Underwriting at E + S. The number of contracts has decreased to around 25.7 (25.8) million – in 2011 it was 27.3 million. The claims expenditure for the financial year should fall by around two percent to EUR 3.3 billion in 2020, thereby improving the claims ratio again. According to the figures, the fiscal year loss rate has been between 50 and 60 percent for years. It also expects a lower combined ratio of around 75 percent.
With aging portfolios and salespeople in mind, the industry needs to think about access to new, young policies. After all, seniors caused greater damage, so it would take young people to improve the balance collectively. Only 2.5 percent of the new entry would come via the direct channel.
Author: Monika Lier
<!–
–>
–
