The case for proactively managing current and future long-term care (LTC) insurance (LTCI) claims is stronger than ever. While insurers have anticipated these claims within their reserves, LTCI claims are accelerating, and companies are looking for additional methods to manage their LTC blocks and serve their policyholders.
We see LTC insurers in the market acting accordingly, implementing programs to improve the lives of their policyholders before and during a claim. Because reserves already include an actuarial expectation of future claim levels, business managers look to improve mutual policyholder and company value to justify the cost of these programs.
This article was published in the February 2023 issue of Long-Term Care News.