Royal London updates cancer underwriting

Focus on inclusivity

Cameron Roberts
clock • 2 min read

Mutual insurer, Royal London, has updated its cancer underwriting with a focus on broadening access to cover and aiming to close the protection gap for those previously diagnosed with cancer.

The insurer says the changes are designed to increase the number of instances it can offer critical illness (CI) and income protection (IP), alongside amending outcomes for life cover. Royal London shared with COVER some examples of how this change in philosophy could impact customer outcomes. Simplified examples of updated cancer philosophy* *Assumptions made on other factors such as customer age and exact staging pathology. The provider said that 66% of its CI claims were for cancer in 2023, something that had demonstrated that its approach to cancer underwriting needed to ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Underwriting

Digital underwriting: a step forward?

Digital underwriting: a step forward?

“We need to step back and challenge what we do”

Jaskeet Briah
clock 26 September 2024 • 6 min read
Best Insurance launches AI underwriting solution

Best Insurance launches AI underwriting solution

Targets accident, sickness and unemployment market

Jaskeet Briah
clock 14 June 2024 • 2 min read
Swiss Re extends underwriting partnership with Appian

Swiss Re extends underwriting partnership with Appian

Automated underwriting process

Jaskeet Briah
clock 05 June 2024 • 2 min read