Disability Income Claimant Rehabilitation and other Claim Interventions

Disability Income Claimant Rehabilitation and other Claim Interventions

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Description:

Long term disability income (DI) claims account for a significant portion of life insurance companies' risk product liabilities. The annuity type benefits offered by these products, typically paid until a policyholder reaches retirement age, dies or returns to work, results in liabilities of a long-term nature often with experience other than originally assumed. It is thus crucial for insurance companies to manage the incidence as well as terminations of these claims. Group DI claims, incurred over 20 years, by one of the largest insurers in South Africa, were analysed, considering the case management information available to identify claimant intervention. Six claim factors, in addition to claim intervention, were identified as significantly correlated to return to work (RTW). In this paper we consider the composition of intervened claimants according to these significant RTW claim factors. This was done in order to highlight any intervention selection. In addition, the impact of intervention regardless of selection is presented.

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