Critical illness insurance (also known as "dread disease") is a subject of growing interest for actuaries and
non-actuaries from around the globe. It had its original origins in South Africa in the early 1980s,
although cancer riders had previously been sold in the United States, Japan and Israel. It has developed
in other regions such as Asia Pacific, Australia, Canada, the UK and the United States in various guises
with varying degrees of success in each of these regions. The specifics of each market can be quite
different but similarities are emerging. In all countries, for example, critical illness actuaries are
concerned about the potential impact of medical advances, increasing consumer awareness and
increasing legal challenges, all of which need to be factored into any long-term pricing decisions and
product development.
In this session, speakers with experience in several different international markets provide an update on
the product, experience and risk management trends that are of the most interest in various countries.