Long-term care insurers want to cut benefits costs by keeping the insureds healthy.
Company staffers heard about efforts to fight dementia and frailty last week in San Diego, at the latest annual ILTCI Conference.
Teams from organization's like Assured Allies, The Helper Bees and WellSaid.ai briefed attendees on the latest analytical strategies, classes and coaching programs.
Some speakers and exhibitors talked about medical research: Maria Carrillo, the chief science officer at the Alzheimer's Association, reported that drug companies were putting more than 140 separate dementia treatments through clinical trials.
What it means: Traditionally, the need for long-term care has increased sharply after people turn 85. The baby boomers will begin turning 85 in 2031.
Insurers are hoping new drugs and intervention programs will help them manage the wave of care claims that will roll in after 2031, just as they used wars against tuberculosis and cigarettes to reduce life and health claims.
ILTCI: Insurers, brokers, actuaries and others began organizing the Intercompany Long-Term Care Insurance Conference series in 2005.
Since then, the conference suffered from the product pricing problems that plagued stand-alone long-term care insurance issuers.
But ILTCI soldiered on. This year's conference reflected the recent resurgence in interest in long-term care planning products.
