Disproportionate effects from COVID-19 and climate change shine a light on the insured. Times like these challenge the insurance industry to consider how their products can better reach those who need them most.
In my previous blog post, I referred to the disproportionately high mortality rate from COVID-19 in nursing homes and the need to better deliver digital care services to the elderly. Similarly, color communities see disproportionate mortality from the virus, but they see less in claims paid to beneficiaries. These differences trigger a long-delayed conversation about how life and annuity products are written and distributed.
In this month's insurance news analysis, Natalie de Freitas and I discuss these challenges and those posed by climate change, including access to homeowners insurance in areas of increasing fire and storm activity. We also discuss how perceptions of different exposures vary among insurers and what new risks it would be wise to consider.
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