As we reach the end of what has been a momentous year for the sector, Health & Protection looks back on 2021.
During the year our analyses have covered a wide range of subjects across the health and protection insurance sector, including the fallout from lockdown’s effect on mental health, booming demand in product areas, the impact on NHS waiting lists, and provider plans to hit net zero targets.
Over the spring, we explored the threat of increased long-term absence rates due to growing numbers of employees not accessing treatments during the pandemic.
There was also the adverse effect of disappearing social networks for workers and guarding against employee burnout.
Demand for cash plan products soared as employers looked to boost staff healthcare but there were some unexpected additions to product benefits along the way.
Into the summer months, Health & Protection revealed how the pandemic had created growing demand for virtual GP services.
With the relaxation of pandemic restrictions came the effect of easing underwriting restrictions by life insurers that helped to get applications moving again.
Advisers also explained how they were tackling booming group risk demand from SMEs and the impact of NHS backlogs.
As we entered autumn, Health & Protection looked into the Financial Conduct Authority’s (FCA) proposed consumer duty.
There was also news of reduced interest from customers in critical illness and how providers were facing up to new net zero targets.
Finally, as rounding out the year, advisers were urged to capitalise on the Love Island generation‘s interest in dental benefits.
And after another tough 12 months, the impact on mental health cannot be underestimated with individual and corporate clients increasingly recognising the support offered by insurance products.