The SOA is proud to present the Insurance Medical Insurance Penentration: From Low Cost Heslthcare to Mental Health Coverage webcast in collaboration with the Actuarial Society of the Philippines (ASP).” Health is wealth, but much needed medical insurance for various needs is perceived solely for the wealthy and elusive to many. This webcast brings two highly regarded speakers in the health sphere to bust the myth that medical insurance is reserved for the wealthy and only covers known illnesses. The discussions will further dwell on products that are designed based on financial capability and customized needs while transgressing on risks and sustainability of creative products such as mental health. City-Customized Supplemental Medical Insurance (SMI or Huiminbao) is an innovative low-cost healthcare financing solution in China. As a public-private partnership scheme, SMI improves medical insurance penetration at a low premium level in exchange of high limit and high deductible medical coverage. With concerted efforts of government entities, insurers, online platforms and other third-party administrators, SMI has been growing rapidly and the total number of insureds has reached 150 million (about 10% of China's overall population), which can be considered as quite successful for such an emerging scheme that just launched for about 4 years. Qiuwen Peng from Milliman will provide an overview of SMI program development and product features. She will also share the key success factors of SMI, as well as some actuarial considerations in SMI product design and pricing. In recent years, mental health has become a visible and trending topic in Asia. To address an increasing need from customers, insurers have launched various products and benefits to provide holistic coverage for mental disorders. However, there remains key challenges in the viability and sustainability of mental health products. Dr. Hao Liu from Munich Re will share his experiences as a physician managing psychiatric conditions across a number of clinical settings, including inpatient consults, outpatient clinics, and as an occupational physician in the military. He will discuss the inherent uncertainties and risks of mental health disorders that cannot be fully captured via research or data, and considerations in designing sustainable mental health products. Registration Fee
ASP/ SOA Member USD35 Non-member USD50 Multiple USD100
Presenter(s)
Hao Liu, MD
Chief Medical Propositions Officer
MunichRe
Qiuwen Peng, FSA, CERA
Consulting Actuary
Milliman
Moderator
Joshua Paman, FASP, FSA, CERA
Manager, Manulife Business Processing Services
Co-Chairperson, Professional Development Committee of the Actuarial Society of the Philippines