Innovation Archives - LTCi Summit

Data-Driven Pre-Claim Programs Bend the LTCI Claims Cost Curve, New Report Shows

Our partner Nolan Tully recently co-authored a research report, “Data-Driven Pre-Claim Programs Bend The LTCI Claims Cost Curve,” with Assured Allies. In the report the authors discuss an evidence-based program to reduce aging-related disability and help long-term care insurance (LTCI) policyholders remain independent longer.

In the report, Nolan along with Assured Allies’ Afik Gal (co-founder & president) and Andy Freedman (vice president, client experience), detail further:

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Part I: InsurTech Movement Shakes Up LTCi Vendor Composition

Compared with other insurance lines and financial services^[1], the InsurTech movement had been relatively slow in impacting LTCi. That inertia recently gave way to a bourgeoning group of companies targeting LTC insurers and providers, demanding a first-of-its-kind LTC Tech Summit (presented by the SOA and Maddock Douglas) on November 7, 2019. In anticipation of this year’s Virtual Elder Tech Summit next week, it is worthwhile to look back at some of the next generation vendors that presented last year.

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Future of Dementia

There is a possibility that the structural and financial costs of caring for elderly Americans will become the issue that overwhelms all others in importance in the coming decades. Among the myriad issues and problems facing the United States at present, many politicians and policymakers have focused on issues that appear more immediate. As they do, however, the United States grows older and more infirm, all while birth rates fell to 1.73 births per female in 2018 and net immigration has fallen to the lowest levels this decade. Given the aging baby boomer generation, the current scenario has all of the makings of a serious demographic crisis. Among an aging population, dementia has become a very prevalent, very difficult, and very expensive illness that many confront, and so far little progress has been made on a cure. Indeed, The Economist, in its August 27, 2020 edition, published a special report on dementia that included the following statistics:

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