Cathay Life Insurance unveils new health strategy for policyholders

The insurer is also embedding a new wellness program on its app.

Cathay Life Insurance, one of Taiwan’s biggest insurance companies, has announced a new strategy for its policyholders aimed at improving health outcomes. The company is focusing on risk identification and utilizing technology to better serve customers in the areas of improving health awareness, suboptimal health, elderly care, and spillover insurance policies.

The company's spokesperson, Able Lin, explained that the new strategy is necessary to approach insurance in a more agile and digital way to fulfil customer needs, particularly in the face of challenges such as an ageing population, the pandemic, emerging technology, and the environment.

Cathay Life Insurance's new strategy includes a focus on its spillover insurance policies, which encourage customers to improve their health in return for reduced premiums or bonuses. 

The company has also launched a new wellness program, "FitBack," embedded in the Cathay Life App, which serves as a constant reminder and encouragement for customers to stay committed to health goals, upgrade their membership levels, and reap the rewards. Additionally, the company has partnered with cross-industry partners to create health-oriented tasks for customers.

Cathay Life Insurance is partnering with local and renowned clinics to provide comprehensive care services for policyholders with suboptimal health. The teams comprise doctors, nutritionists, pharmacists, and educators to craft a personalized approach to healthcare.

For the elderly population, the company is consistently improving its services for this group of customers, training staff to be health consultants that are well-versed in elderly care and governmental resources and working with the Industrial Technology Research Institute to develop cognitive function testing services.