World Mental Health Day 2023: Why it's business and personal

Good mental health is essential to good overall health. Yet, more people are living with mental health conditions than ever before. With my own experience of anxiety and panic attacks following a family tragedy, I know first-hand why it's so important for insurance coverage to support people's efforts to boost their mental health and well-being.    

I first experienced anxiety and panic attacks when I was 12 years old, after the sudden death of my younger brother, Ben. As I lived with this loss, I grappled with these conditions through school, university and even into my first job as an intensive care nurse. And while mental health challenges can feel isolating, I know now that I was not alone.     

Before the COVID-19 pandemic, about one in eight people globally was living with a mental health condition, according to the World Health Organisation. With people's well-being put to the test over the past three years, we face what has become a global mental health crisis.    

With so many people facing challenges to their mental health, I'm pleased that Swiss Re is a vocal advocate of World Mental Health Day on October 10. The 2023 theme, ‘Mental health is a universal human right,’ couldn't be more fitting as advocates call for more organisations and governments step up their game in meaningful ways.    

Swiss Re is committed to providing inclusive coverage, accessibility, and support for those living with mental health conditions. These are nice sounding words, but what exactly do they mean in practice, both for me as an employee at one of the world's largest reinsurers, and for me as an individual, someone who is a passionate supporter of initiatives aimed at improving mental health?

Underpinning Swiss Re's approach is a commitment to fair risk assessment and ensuring we protect as many lives as possible. Mental illness is a complex, multifaceted medical condition that requires more than a one-size-fits-all approach.   

While mental health diagnoses often aim to categorise conditions, every person grappling with mental health obstacles has a unique set of circumstances, with differing symptoms, treatment paths, and support systems. It's therefore important to take this biopsychosocial model into account when underwriting. Seeing people as individuals is of vital importance.    

Mental health research has accelerated over the past 20 years, as we grow more attuned to its drivers as well as opportunities to treat its conditions. At Swiss Re, we focus on staying abreast of the latest research. We regularly review the latest science and data as part of our rigorous evidence-based review process, while engaging in "horizon scanning" for new and evolving topics.    

One example of this is our recent guidance to underwriters now encountering increasing instances where people aiming to address mental health and wellbeing are turning to "microdosing" with psychedelics. Our Swiss Re teams are also exploring the emerging science of nutrition's impact on mental health, another area where we're seeking new approaches to addressing persistent re/insurance challenges.

Swiss Re's underwriting approach is to transparently "weight" various factors and their significance, aligned to the evidence for the specific insurance benefit under assessment. We aim to help underwriters make the right decisions that consider a prospective insured's individual circumstances. With Life Guide, we guide them via a transparent tool, as well as a points system, to empower decision-making that can incorporate individual discretion, rather than dictating the underwriting outcome.    

Despite an increasing body of research in the mental health field, much remains poorly understood. There can be vast differences across the same conditions. While hypertension, or high blood pressure, tends to manifest itself similarly across a population, depression often looks vastly different from one person to the next.    

Given this complexity, as well as the personal nature and nuance of mental health conditions, we feel empowering underwriters to apply expert insight, whilst supported by a rigorous framework, is the best approach.    

Not only are we committed to covering as many lives as possible, but Swiss Re also aims to improve mental health and support people before they experience a crisis, when a claim is filed, and during their journey back to mental health.

Swiss Re recently announced a pilot with MLC in Australia, Wysa Assure, an AI mental wellbeing solution tailored for insurance. Swiss Re and our partner Wysa created this solution to help users monitor and manage their mental wellbeing, directing them to offline support when “red flags” emerge to alert those using the app that a possible negative mental health experience is imminent.    

This approach focuses on early intervention, including stress-relief programmes and therapeutic techniques, as well as exercises and Swiss Re's wellbeing score to help users stay focused on their mental health. 

Ultimately, we believe that mobile apps will also play a key role in helping insurers achieve a holistic, evidence-based approach to mental health claims, which recognises the relationships between physical health, psychological/social factors, and lifestyle stress.

World Mental Health Day provides a timely opportunity to talk about mental health; how to nurture it, and how important it is to get help if you are struggling. When I reflect on my experiences, it's clear we've achieved so much since the 1990's to destigmatise mental illness, raise awareness and drive positive change for everyone’s mental health.    

After all, we're all touched by it. It’s so important to continue the conversation, something I wished we had done earlier as a society. As I grappled with anxiety as a young woman, it wasn't until my early 20s that I started the hard work to understand, treat and take control of my condition.    

Fast forward to today, and I actively manage my mental health with a few key tools. These include efforts to build self-awareness, including meditation, walking (preferably in nature) and yoga, and maintaining strong connections with my family and friends.    

I also know through my work at Swiss Re that what we call 'The Big 6' lifestyle factors – including physical activity, focusing on proper sleep, eating right and maintaining good mental health habits -- can make a huge difference when it comes to strengthening personal resilience.    

Life can be a rollercoaster. Staying alert so I know when to lean into my mental health tool kit ensures I'm better equipped to ride the ups and downs.  Today, I'll start conversations about mental health, and I encourage you to do the same with family, friends, and work colleagues.   

At Swiss Re, we reaffirm our commitment to expanding coverage and supporting those facing  mental health challenges. Together we can ensure mental health is a basic human right. Equally important, if you are reading this and struggling with your mental health, please reach out to someone you trust or a professional for guidance on your own journey.