Swiss Re has partnered with mental health platform Wysa to create an insurance-specific app to help consumers better track their mental wellbeing and improve links to insurers’ existing support networks.
According to a new Swiss Re Institute research report, a segment of 45 million consumers across six markets view a future negative mental health event as being highly disruptive and see value in an insurance product covering mental wellbeing.
The partnership will see Wysa create an insurance-specific app which helps consumers better track their mental wellbeing and improve links to insurers’ existing support networks, such as therapy providers or Employee Assistance Programmes.
Jolee Crosby, Swiss Re’s Head of L&H Global Core Solutions, Underwriting & MedRe, commented: “There’s an estimated USD 15 billion of mental health claims each year in insurers’ disability books around the world.
The insurance industry is striving to better understand and prevent mental illness. We’re delighted to be developing this app with Wysa, which will support insurers in their goal of improving both their products and the consumer experience for those looking to stay on top of their mental wellbeing.”
Ramakant Vempati, co-founder & President of Wysa explains: “Wysa is very excited about this partnership with Swiss Re as we share a common objective to do more to support people with their mental wellbeing.
“We are convinced that, based on our existing capabilities and the app’s new components, we are building a unique solution together that integrates scalable, AI-enabled responsive early-stage mental health support into the insurance industry.”
