The Challenge of Long-Term Care
Many insurers find it a challenge to maintain a profitable long-term care (LTC) business in light of sustained low interest rates, decreasing lapse rates and adverse deviations in morbidity experience. Many insurers are faced with large reserve increases unless they can develop and implement aggressive block rehabilitation plans.
Why Towers Watson?
In today’s low-growth environment, Towers Watson works with insurers to evaluate and mitigate the distinctive risks associated with long-term care. We also help insurers, particularly life insurers, design LTC enhancements for their life insurance products, and their supplemental life and health products.
With the former DaVinci Consulting Group now part of the Towers Watson team, we’ve added extraordinary analytical depth, especially in the area of loss projections. We draw from our considerable LTC insurance consulting experience and our large database of industry information to help insurance companies address the long-term care issue creatively and effectively.
Our services include:
- Accident and health experience analysis and re-rating
- Cash-flow testing
- Financial reporting and reserve certification
- Forecasting and experience reporting
- Merger and acquisition valuations
- Policy form submission and regulatory compliance
- Pricing and product development
- Rate increase filings
- Reinsurance consulting and risk transfer
- Reserve processing
- Expert testimony
- Investment consulting
- Continuing care at home feasibility studies with our partner Life Care at Home Partners