The public health challenge, economic upheaval and policy reactions from COVID-19 have disrupted society across all levels, processes and systems. This session considered the implications as employment, mental and physical health all suffer and how this relates to group insurance.

SPEAKERS:

Stephen Kramer, emerging risks research lead, Swiss Re
Princess Navarro, head of insurance, Equity Trustees
Sally Phillips, general manager – health services, TAL
Lance Schembri, Victorian state manager, growth business development, First State Super
Moderator: Laurence Parker-Brown, content producer, Conexus Financial

View Stephen’s slides here

Key Takeaways

  • Insurers and super funds must look at the pandemic through a physical, mental and financial lens
  • Super funds have a strong role to play to support their members and the greater economy by investing in hospitals and aged care
  • A third wave of the pandemic will be managing chronic conditions currently being overlooked or untreated
  • Super funds must encouraged their members with chronic conditions to make sure they get regular checks. Early detections and normal management are key to managing health
  • Mental health disability claims will rise as a result of the pandemic say 88 per cent of conference viewers polled
  • A Covid-19 vaccine is likely with 30 different projects currently developing vaccines and treatments are improving
  • Vaccines may be the only road to herd immunity as natural immunity fades over time
  • The pandemic has prompted insurers to use technology to improve services and education to clients

Poll Results

Insurers, super funds and regulators have given employers enough support during this health, economic and social crisis:

  • Strongly Agree
  • Agree
  • Disagree
  • Strongly disagree
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