“Crazy” idea… is it time for a “mental health” insurer?

I can see why this is deemed so newsworthy.

It’s hard for people to understand that pricing risk for life insurance has to be based on many years worth of data.

And of course it wasn’t that long ago that mental health was viewed as a “pull yourself together” kind of scenario.

We have surely yet to see any of the benefits feed through into statistics (that’s if they do appear!)… and only then can Insurers / Reinsurers take greater risks.

It’s a shame for the industry, but maybe another opportunity to think differently.

What if someone set up a totally different type of Insurer specifically for those with mental health issues / histories, where the requirement of the policy was that the customer had to undergo regular therapy / assessment?

Perhaps “Depressure” or “Psychover” would be the wrong brand names, but I’m sure we could think of something! 🙂

It would be more expensive, but another move to the “helping now” for the industry.

Just a thought for a rainy Saturday!


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