Chronic diseases drive most healthcare costs worldwide, with costs projected to rise significantly as populations age. Yet today's health and life insurance models remain largely reactive - typically responding only after complications arise, often through disconnected care approaches.  Emerging Insurtech solutions show how proactive, connected care could transform outcomes:

• AI and machine learning that predict health risks before crises occur
• Wearable devices enabling real-time monitoring and early interventions
• Integrated data platforms connecting insurers, clinicians and patients
• Personalized products that reward healthy behaviours
• Accessibility of health insurance for people with chronic conditions

While these technologies show promise, their broader implementation faces challenges in actuarial modelling, equitable access, and system-wide adoption.

To explore these questions in depth, the IFoA is establishing a Working Party that will investigate the transformative impact of Insurtech on actuarial modelling and the design of insurance products in the context of chronic disease management. The Working Party will

• Examine real-world applications: How insurers and healthcare providers are successfully deploying these tools today to support people with chronic diseases
• Explore integrated solutions: Approaches that improve both patient outcomes and financial sustainability
• Guide actuarial innovation: How emerging technologies will transform risk assessment and product design

Chair: Serena Soong

Established: 2025