慕尼黑再保险 新加坡危疾业务快速变化的格局.pdf

1、SINGAPORE ACTUARIAL CONFERENCE 202426 29 August 2024Avoid filling this space with text,will not be seen by audienceEvolution of Critical Illness(CI)Products in SingaporeAugust 2024SINGAPORE ACTUARIAL CONFERENCE 202426 29 August 2024Agenda201020304BackgroundPricing complexityStatus quo and future dev

2、elopmentsConclusionsSINGAPORE ACTUARIAL CONFERENCE 202426 29 August 2024BackgroundSINGAPORE ACTUARIAL CONFERENCE 202426 29 August 2024A journey through time42003:Introduction of first standardiseddefinitions by the LIA2014:-Changes in definitions were made to ensure that the definitions are up to da

3、te with advancement in medical technology and diagnosis,as well as to address definitions that presented issues due to lack of clarity-Removal of maximum number of CI conditions2020:Further revisions in definition and removal of angioplasty per claim limitFurther update on the definition is expected

4、 to be effective no later than July 1,20251980s:Basic CI covers introduced in SingaporeSINGAPORE ACTUARIAL CONFERENCE 202426 29 August 2024Evolution of CI Product5Market has introduced many variations in addition to the standard CI product,including the following:Early&Intermediate CI productCoverag

5、e for Special Benefit(e.g.,Diabetic Complications)and Juvenile Conditions(e.g.,Juvenile Rheumatoid Arthritis)Coverage for Advance CI&its corresponding early CI beyond the standard 37 definitions(e.g.,Severe Crohns Disease)Multi-Pay CI(started off with 4 6 buckets,but have since expanded to no bucket

6、s and covers recurrence of selected same conditions such as cancer and heart attack)New benefits such as ICU cover,pre-malignant tumour,post-CI term optionSINGAPORE ACTUARIAL CONFERENCE 202426 29 August 2024Pricing complexitySINGAPORE ACTUARIAL CONFERENCE 202426 29 August 20247Dramatic rise in cance