Insurers, here's how behavioural science can help you navigate the GLP-1 medication era

The buzz around GLP-1 receptor agonists stems from the evidenced success for weight loss ^1 2and improvement in obesity-related comorbidities ³. While much has been written on the biological mechanisms of GLP-1 medications, we focus on the importance of considering behavioural science approaches during this time. Long-term impact hinges not solely on medication but also on patient behaviour. Insurers can leverage behavioural science to improve the health outcomes of policyholders and better assess applicants' risk in this GLP-1 drug era.

Key Takeaways of the publication:

1. A key challenge for adopters of GLP-1 medications, such as Ozempic® and Wegovy®, is the potential of weight regain after discontinuing the drug ⁴ As such, the long-term impact of GLP-1 drugs hinges not solely on the medication intake but also on patient behaviour and sustained lifestyle change.
2. Pricing risks accurately in the era of GLP-1 medications is a key challenge for insurers. Underwriting questions informed by behavioural science can build trust and encourage accurate and honest disclosures, allowing insurers to collect valuable information and avoid mispricing of risk.
3. Insurance health and wellbeing offerings can leverage learnings from behavioural science research to optimise sustained behavioural change among policyholders.

Swiss Re is dedicated to improving the customer experience and delivering meaningful value to policyholders by partnering with our clients. The examples included in this publication demonstrate some techniques that Swiss Re's Customer Experience and Engagement teams have applied across the customer journey for improved customer outcomes. Additionally, for insurers looking to proactively offer customers targeted wellbeing support, Swiss Re has partnered with specialist providers who deliver proven and personalised health programmes for select cohorts – whether new or existing policyholders at the point of claim – to help them improve and sustain holistic health outcomes. Please reach out if you're interested in learning more.