SURVEYS ROUND UP
https://experience.rgare.com/2024-surveys-round-up
Scroll for top findings and full report
Surveys Roundup
and Trends to Watch
Scroll for top findings and full report
RGA's 2024 Surveys Roundup
and Trends to Watch
RGA’s findings from our 2024 portfolio of surveys can help insurance leaders understand the past and better prepare for 2025.
Specific to the life and health insurance industry, the topics range from how insurers globally can detect and combat fraud in underwriting and claims management, the impact of climate change as an emerging risk, and the increasing demand for specialized insurance for underinsured seniors in Asia. RGA continues to monitor trends in mental health, and we recently launched a toolkit to help clients with claims assessment and management.
Surveys and trends to watch:
1. Global Claims Fraud Survey
Fraud continues to be an urgent challenge facing claims teams. In an evolving landscape that includes a shortage of skilled claims professionals, the widespread use of new technologies, and increased product complexity, fraudsters are finding a variety of new opportunities for exploitation.
Top concerns for insurers were consumer
and agent-assisted fraud.
72%
42%
Globally, fraud will continue to top the agenda for insurers. Insurers and law enforcement agencies seem more willing to actively engage in identifying and combating alleged fraud using more internal resources, tools, and AI, as well as appropriate legal actions. Despite challenges in gathering evidence, insurers will continue to increase efforts to tackle fraud and to keep pace with the technology that enables it.
For 83 survey respondents,
for claims processing across all regions.
fraud
is the
#1 concern
greater than 1 in 30.
In 2023,
affected
of claims, or
or
fraud
3.8%
>
78% percent of insurers have dedicated teams to investigate and combat fraud
(vs 63% in 2016).
From AI-assisted claims, 48% see falsified documents
as a key risk.
to increase in the next five years.
68%
expect
fraud
2029
2028
2027
2026
2025
Download full report >
survey infographic >
Marilda Kotze
Vice President,
Head of Global Claims
Philip Thomas
Executive Director, Global Claims, Governance
Despite underwriting fraud being a significant risk for US insurers, they are anticipating future innovations to fight fraud. These include the use of more data sources and AI tools, underwriter training to detect fraud, and better designed application questionnaires to improve disclosures during the underwriting process.
To understand the impact of fraud on insurers’ business, RGA and MIB conducted an online survey of US insurers, benchmarking results from RGA’s 2016 survey. We obtained insights into the scope of life insurance fraud in the United States, common mitigation practices, and challenges in combating fraud.
2. US Life Insurance Fraud Survey
Download full report >
Colin M. DeForge
Vice President,
US Underwriting,
US Individual Life
Julianne Callaway
Vice President and Senior Actuary, Strategic Research
Leigh Allen
Associate Vice President, Strategic Research
Trey Reynolds
Executive Vice President, Strategy & New Business Development, MIB, Inc.
of respondents are concerned about the risk of fraud for policies issued using Accelerated Underwriting (AUW) and are mitigating risk by limiting face amounts, issue age, and the number of policies being issued.
96%
Post-issue auditing
evidence rechecks
(e.g., MIB Plan-F, Rx/Dx) are the most utilized methods used to monitor potential fraudulent or anti-selective behavior.
More on anti-selection
Anti-selection, churning, and stacking
Fraud, misrepresentation, and anti-selection pose a significant financial burden to the life insurance industry, leading to billions in losses. As a result, insurance companies charge higher premiums to mitigate the financial impact. Anti-selection hinders insurance innovation, increases the price consumers pay, and reduces insurer profits.
In early 2024, RGA partnered with MIB to analyze anonymized data from a contributory industry database, known as the MIB Data Vault. The analysis was further informed by expert interviews with leaders at seven life insurers who provided insights into two types of anti-selective behavior – churning and stacking. The results can be accessed on the RGA Knowledge Center.
and
Medical misrepresentation
was identified as the
most common
costliest
and
type of fraud to combat.
When it comes to fraud detection and prevention, underwriting is the first line of defense, along with increased investment in training to identify red flags and the use of MIB databases.
In 2024 in the South Africa market, RGA conducted a survey to gauge life and health insurers’ current level of concern and strategic priorities around the emerging risks related to climate change – a globally emerging trend.
The climate change views of 17 South Africa life and health insurers include:
3. South Africa Climate Change Survey
As insurers struggle to assess mortality risks in a warming world, in a related report, RGA focuses on mortality impacts in South Africa and timely insights applicable to all markets. Climate change will remain a significant risk factor that must be addressed through collective action at the government, corporate, and individual levels. The insurance industry has an opportunity to play a leadership role in combating the climate crisis by promoting awareness, providing education, and incentivizing people to modify behaviors in ways that will benefit their own health and the planet’s. There is a potential to develop products to encourage sustainability or green products aimed at environmentally conscious consumers.
Download full report >
survey infographic >
Neil Parkin
Head of Business Development, RGA South Africa
Jared Godwin
Business Development Actuary, RGA South Africa
Jean-Louis Fourier
Business Development Actuary, RGA South Africa
Chris Falkous
Vice President, Senior Biometric Insights Actuary, Global Biometric Research
Leigh Allen
Associate Vice President, Strategic Research
Of respondents, 65% think climate change is a moderate risk, and 15% indicate it is a high risk.
MODERATE RISK
HIGH RISK
OTHER
There are mixed views on the level of strategic priority to place on climate change:
55%
low or no
priority
45%
moderate or high priority
from climate change.
58%
have implemented or plan to implement a
sustainability program
to manage the
risks
and
opportunities
53% focus on reducing company emissions from company operations (non-investments).
investment decisions.
29%
are using environmental sustainability in
55% of respondents believe that climate change will have a material impact on their business in the next five to ten years.
Over 1.2 billion of the population in Asia will be over 65 by 2060,* driving increasing demand for senior insurance solutions. RGA's new study reveals critical insights into the needs, concerns, and preferences of aging consumers in Asia. We discovered opportunities from our analysis of 1,636 senior respondents in China, Hong Kong, Japan, Taiwan, India, South Korea, Thailand, and Vietnam.
4. Aging in Asia: Inclusive Insurance Study on Seniors
Aging populations are currently underinsured given the limitations of existing product offerings and increased scrutiny on underwriting and affordability. RGA speculates that there will be an increased demand for specialized insurance products – like health insurance and long-term care insurance – as well as retirement planning tailored to the needs of seniors.
Download full report >
survey infographic >
Queenie Choi
Chief Commercial Officer Asian Markets
Kate Chan
Associate Director, Marketing & Communications, Asian Market
Of the respondents, 40% reported having hypertension and
23% have high cholesterol or diabetes.
72% value
private health
insurance,
50% value
annuities and critical illness coverage.
and
The following, in order, are the top purchase drivers for private life and health insurance:
1. . Cost of premium (affordability)
2. Range of diseases covered
3. Ease of claims process
The two top purchase barriers were that premiums are too costly or the policies are too difficult to understand.
The following are the most common critical illness concerns for underinsured populations:
Cancer
Dementia
Heart attack
Stroke
RGA’s Claims Mental Health Toolkit and Additional Thought Leadership
RGA has conducted surveys and research to provide trends related to mental health. We advocate for collective industry action to continue championing mental health inclusion and support. To drive this change, last year we launched a series of advancements in RGA’s approach to mental health risk assessment across underwriting, claims, and medical, with initial resources available today and further advancements rolling out through 2025.
Our Claims Mental Health Toolkit is a comprehensive resource designed to empower clients with research-backed education and solutions for informed, compassionate mental health claims management.
To learn more about RGA’s commitment to advancing mental health inclusion, we invite clients to explore our dedicated resource hub.
Stay connected
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©2025, Reinsurance Group of America, Incorporated. All rights reserved. No part of this publication may be reproduced in any form without the prior permission of the publisher. For requests to reproduce in part or entirely, please contact: publications@rgare.com. RGA has made all reasonable efforts to ensure that the information provided in this publication is accurate at the time of inclusion and accepts no liability for any inaccuracies or omissions. None of the information or opinions contained in this publication should be construed as constituting medical advice.
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Jennie Calder-Brown
Claims Research Development and Training Manager
Gayle Kanchanapume
Gayle Kanchanapume is Executive Director, Global Claims Value Added Specialist
Mental Health Toolkit contacts >
Dr. Peter Farvolden
Ph.D., CPsych
Mental Health Consultant
Leigh Allen
Associate Vice President, Strategic Research
reported having
40%
high cholesterol
or diabetes
23%
Top existing medical conditions among survey respondents:
Of the respondents, 40% reported having hypertension and
23% have high cholesterol or diabetes.
Of the respondents,
hypertension
have
23%
high cholesterol or diabetes.
and
In 2023,
affected
of claims, or