Recently the NHK News On-line reported the following:
唾液でがん検査 保険大手が出資へ 保険料安くなる商品開発も
A major life insurance company and a non-life insurance company had invested in a venture company that developed testing technologies which could examine cancer risks from a small amount of saliva. For those who had been examined, plans were being considered to develop new insurance products that would reduce their insurance premiums.
The major life insurance company Nippon Life and the non-life insurance company SOMPO Holdings were planning to invest several hundred million yen each this month in a venture company, Saliva Tech, a research institute in Yamagata Prefecture established by Keio University.
The venture company had developed testing techniques that could be used to determine whether there was a cancer suspicion by collecting a small amount of saliva and this technique was being used in medical institutions around the world.
Nippon Life and SOMPO Holdings were planning to consider the development of new life insurance and medical insurance that would reduce insurance premiums if there was regular cancer checking.
If cancer could be detected early through testing, beside that it would be beneficial to policyholders, the insurance companies could expect to increase their profits by reducing insurance payments.
Recently, “Health Promotion” insurance, which discounted insurance premiums for people who took health checkups and did exercise to prevent disease, was popular. Insurance companies were also putting a lot of effort into their product development.
I think this new insurance product which demands regular saliva testing for cancer is a win-win situation for both the insurer and the insured.