Following a three-year period marked by social distancing, curfews, and hospital resource reallocations, life appears to be returning to its pre-2020 norm. So are the critical illness insurance claims. 

Charles Tremblay, Head of Claims at Munich Re in Montreal, observes that the incidence of critical illness insurance claims has returned to pre-pandemic levels. "During the pandemic, it had decreased because people stopped visiting their doctors and seeking treatment. Since 2022, the incidence has been on the rise. This will have an impact on morbidity," he says. 

Cancer: The number one cause 

Tremblay notes that claims related to cancer still make up 65% of the total claims year after year. Claims related to heart disorders remain the second leading cause of claims, but Tremblay couldn't quantify their incidence. 

The incidence of cancer in claims has returned to pre-pandemic levels, he adds. "During the pandemic, the incidence rate of cancer-related claims in critical illness insurance had dropped by 10% to 15%, and now it's rebounding. There will be an impact on the morbidity rate," he predicts. The morbidity rate represents the incidence of all covered illnesses. 

Confirmation from an insurer 

Philippe Cleary, Vice President of Pricing, New Business, and Claims at iA Financial Group, confirms the trend. "We are witnessing a resurgence of cancer, but there were fewer diagnoses during the pandemic," he notes. With restricted access to doctors, Cleary explains that cancers that couldn't be diagnosed earlier can now be detected. He traces the trend of claims over the past three years. 

In 2020, Philippe Cleary observed a decrease in the number of critical illness insurance claims "across all causes." He believes that this decrease was likely linked to the difficulty of obtaining a diagnosis during the pandemic. 

In 2021, he witnessed a significant increase in the number of critical illness insurance claims, across all causes. This appears to be the "catch-up" for what had not been diagnosed in 2020. 

"In 2022 and 2023, the increase in cancer and tumor-related causes is greater than historical trends, and also greater than the increase for other causes," reveals Cleary. 

This article is a Magazine Supplement for the September issue of the Insurance Journal.