Thu 18 May 2023 - People with diabetes, both type 1 and type 2, run a greater risk of developing one or more severe health complications, including cardiovascular disease and cerebrovascular disease. Diabetes is also a leading cause of blindness in working aged people and a common cause kidney failure. Life expectancy following a diagnosis of diabetes has historically been lower than in those without diabetes. This is because inadequate glycaemic control gives rise to several complications that cause premature death, along with increased risks of long-term disability.
In recent years earlier detection and management of diabetes, both from a personal and physician-led perspective, has improved such that survival with diabetes has increased. New pharmaceuticals coupled with enhanced monitoring and modern insulin dosage systems have transformed the lives of people living with diabetes. Life expectancy with optimal glycaemic management has been extended in those with diabetes. But the long-term impact of new pharmaceuticals has yet to be fully appreciated.
Research has also increased our understanding of the pathophysiology of the condition allowing for greater granularity when considering our approach to underwriting this condition.
The Diabetes Working Party has produced a paper that includes a comprehensive review of medical literature and a global underwriting survey. Our literature review covers mortality, morbidity, and COVID-19 infections for people with diabetes (type 1 and type 2) and pre-diabetes. We have also undertaken a global underwriting survey where we compare and contrast underwriting practices and draw out key messages. The survey covered UK and Ireland, mainland China, and the rest of Asia (excluding mainland China).
The working party was also involved in initiating an important project commissioned by the Actuarial Research Centre carried out by University of Leicester. It is planned to be published later this year. We will provide an update on this work and what the aims are.
For our industry, diabetes is a hot topic and a key condition to understand for underwriters and actuaries involved in the pricing healthcare/longevity/protection business. We look forward to a discussion on 18 May.
An Analysis of Diabetes Mortality and Morbidity Risk (3.61 MB PDF)
Chair
Mei is an epidemiologist, statistician and actuary with a diverse background in population ageing. At Lane Clark & Peacock, she helps healthcare and life science organisations use cutting edge analytics to assess complex health demands, particularly through modelling health trajectories and analysing health impacts using real world data.
She received her PhD in Population Health from the University of Oxford, where she developed biological ages using novel high dimensional methods for risk prediction and communication of multiple chronic diseases. She has also worked in cross-industry, interdisciplinary research groups at University College London, analysing health inequalities, multimorbidity trajectories and the effects of health interventions. Prior to and during her research career, she worked in actuarial and statistical roles at Legal & General, specialising in longevity risk.
She is Deputy Chair of the IFoA Health & Care Research Sub-Committee, and also a member of steering groups and committees at the intersection of health research, statistics, data science and the actuarial profession.
Scott Reid currently works for Zurich as Global Protection and Analytics Actuary. This is a global role where he advises on the pricing and design of new life/health insurance products and data analytic capabilities.
He is an active volunteer within the actuarial profession including Chair of the Diabetes Working Party and Deputy Chair IFoA Health and Care Board.
Chris Bagnall is a Fellow of The Academy of Life Underwriting, The Life Management Institute and The International Claims Association.
He started his career in Life Underwriting over 30 years ago in the UK. The past 16 years have been focused on International markets, including APAC, Middle East and Africa, living and working in Dubai. The last 6 years he is working as the Global Head of Individual Underwriting for the Zurich Insurance Group, based in Switzerland.
His current role is accountable for the global governance, quality and strategy for Individual Life Underwriting and ensuring sharing and embedding of best practices across Zurich’s businesses.
Head Global L&H UW Risk Management and Governance, Vice President
Swiss Re
Jon Lambert is a Fellow of the Chartered Insurance Institute, a Chartered Insurer and holds the Diploma in Medical Underwriting from the Assurance Medical Society.
He joined the Global Life and Health Underwriting team at Swiss Re, from GE Insurance Solutions, in June 2006, having previously worked for ManuLife and Canada Life. He has been working in life and health underwriting for over 30 years.
As well as responsibilities for Swiss Re’s global underwriting proposition, he is involved with Swiss Re’s Fair Risk Assessment initiative which provides support to Swiss Re teams in relation to areas of regulation, or legislation, that could impact insurer’s ability to underwrite.
His team are central in the creation and development of Swiss Re’s global underwriting guidelines and philosophy published in Life Guide.
Ian has over 20 years life insurance industry experience and qualified as an actuary in 2006. He has worked for Aviva in various pricing, modelling, financial reporting and risk management roles in both the UK and overseas. He currently works in Aviva’s Group Actuarial Function.
Peter has over 40 years of experience in the profession primarily working in numerous capacities in the pensions field. He has worked as a former Scheme Actuary, with more recent experience working in Consultancy and Pensions Management. Clients have ranged from the largest pension schemes in the UK, such as the Pension Protection Fund and the BT Pension Scheme, to the very smallest pension schemes for owner managed businesses.
Peter has worked on the Diabetes Working Party since 2018 helping with academic literature reviews and assisting other workstreams.
Online and in London:
Staple Inn Hall
High Holborn
London
WC1V 7QJ
You can attend in-person or watch online, which you will be able to indicate when booking.