Investec Life says mental health is a ‘hidden crisis’ facing insurance industry
Data from the SA College of Applied Psychology shows that only 27% of severe mental illnesses in country are treated
05 December 2022 - 05:05
Investec Life, the high-end insurance provider to Investec’s private banking clients, is looking at ways to improve its risk assessment of mental health issues during the underwriting process.
The bank’s insurance unit, launched from scratch in October 2017,says it plans to begin piloting a new assessment tool in early 2023 that was developed by a global reinsurer, which it will name at the official rollout tentatively scheduled for March. Essentially an enhanced questionnaire, the toolkit aims to get a better picture of clients’ social support structures when evaluating mental health risk indicators...
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