Genomics-Based Insurance Program Wins Global Innovation Award

healthÅŒme and Hannover Re have won the 2024 Global Innovation Award for their genomics-based insurance program. The award acknowledges the integration of genomics into critical illness coverage, enhancing life and critical illness products for insurers and policyholders. The collaboration enables insurers to push boundaries, improve product offerings, and enhance member engagement, creating lasting value for insurers and their customers. The program is distributed through Chubb Workplace Benefits as Cancer Advocate Plus, providing employees access to DNA-based precision health insights, medication optimization, and cancer management support.

The insurance industry is witnessing a paradigm shift, with healthÅŒme and Hannover Re leading the charge. Their groundbreaking genomics-based insurance program has been awarded the 2024 Global Innovation Award in the Life | Health | Retirement category [1]. This recognition underscores the significance of integrating genomics into critical illness coverage, enhancing the value of life and critical illness products for insurers and policyholders alike.

The collaboration between healthÅŒme, a pioneer in genomics-based precision health management, and Hannover Re, one of the world's top reinsurers, has resulted in a transformative solution. By integrating genomics into critical illness and life insurance, healthÅŒme and Hannover Re have delivered an innovative product to the personal insurance market [1]. This pioneering approach empowers insurers to push boundaries, improve product offerings, and enhance member engagement [1].

The genomic-based insurance program, distributed through Chubb Workplace Benefits as Cancer Advocate Plus, provides employees with access to DNA-based precision health insights, medication optimization, and cancer management support [1]. This proactive approach to health-first insurance-based programs not only strengthens policyholder relationships but also improves brand equity for insurance carriers [1]. Furthermore, it drives better policy persistency, creating lasting value for insurers and their customers.

Steve Najjar, Executive Vice President, Head of Health Solutions and General Counsel at Hannover Life Reassurance Company of America, expressed his delight over receiving this prestigious award. "This recognition is a testament to our commitment to advancing medical care for the treatment of cancer patients," he said [1].

In conclusion, healthÅŒme and Hannover Re's genomics-based insurance program is a trailblazing innovation in the insurance industry. By integrating genomics into critical illness coverage, they are reshaping how the industry serves members, enhancing product offerings, and driving better policy persistency.

References:
[1] healthÅŒme and Hannover Re Win 2024 Global Innovation Award for Genomics-Based Insurance Program. (2024, December 10). Retrieved from https://www.prnewswire.com/news-releases/healthme-and-hannover-re-win-2024-global-innovation-award-for-genomics-based-insurance-program-302326945.html