Underwriting must consider individual complexities of anxiety, depression, and bipolar disorders for accurate risk assessment, says an expert.
The insurance underwriter said accurate risk assessment is important to coping with the challenges presented by mental health conditions.“These conditions are complex, and understanding them helps insurers to better assess and underwrite [the] risks associated with each,” she said.
“Whether symptoms are chronic or recurring, insurers must be sensitive to the social impact of anxiety disorders, as they can affect an individual’s social life and productivity at work,” she explained. With bipolar disorders, Jina said the associated morbidity risk was substantial – affecting the occupational and social functioning of many individuals.
The underwriting expert further explained that a holistic evaluation of an individual’s impairments, job description, policy disability clause conditions, and personal factors were essential to the assessment process.
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