Promoting Peace of Mind: Mental health and insurance

Author: Adrita Bhattacharya-Craven

Core technical advisors and key contributors: Samuel F. Mikail, Sun Life Financial; Myralini Santhira Thesan, AIA Group; and Steve Woh, Reinsurance Group of America (RGA)

Almost a billion people across the world live with poor mental health. Cases have surged in recent years as a result of the pandemic, and demand for services is projected to increase due to the geopolitical and economic environments, as well as the effects of the climate crisis. At the individual level, poor mental health can lead to loss of wages, employment gaps and increased risk of mortality. Health and life insurers feel the effects through claims, via disability and income protection insurance or workers' compensation, for example. 

This report examines the scale of the mental health crisis, how life and health insurers are addressing mental health and how they can build on and scale up innovations to improve insurability and promote mental well-being.


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