In response to the COVID-19 outbreak, Swiss Re is opening access to its proprietary Life Guide underwriting manual – what it deems the industry’s number one global underwriting manual – to all life and health insurers for 90 days.
The manual will be accessible from April 27 to July 31. The offer is designed to help life and health insurers navigate the effects of the outbreak, better understand the risks they underwrite, and gain confidence in offering coverage at a time when more people are thinking about life insurance and reevaluating their financial situations, Swiss Re said.
A survey conducted by Swiss Re in late March found that 70% of respondents were more likely to reconsider priorities in life, and that many are actively considering buying a life insurance policy.
While the COVID-19 outbreak presents life and health insurers with many challenges for underwriting new business, Life Guide access includes the ability to reverence new guidance to help insurers address the emerging risks associated with the outbreak alongside other commonly searched risk factors including cancer and cardiovascular disease.
“These are unprecedented times and uncharted waters for life and health insurers, and we recognise the urgent need and value to share our expertise beyond our existing base of registered users,” said Paul Murray, head of life and health products for Swiss Re. “Our priority is to use our experience, leadership and perspective to help insurers continue to underwrite sustainable business and preserve the ability to deliver on those promises.”