Products supporting pregnancy-related testing costs and providing insurance payouts for Alzheimer's treatment side effects have emerged. Looking at cases where insurance companies received "exclusivity rights" (baeta-jeok sayong-gwon) in recognition of their originality this year, coverages related to pregnancy, fertility, women's health, dementia, and nursing care have increased compared to last year. The trend shows insurers covering not just disease diagnosis and treatment, but also necessary examinations and side effects along the way. Cases offering discounted insurance premiums based on health management results or providing legal counseling have also appeared.

According to an analysis of disclosure and deliberation results from the Korea Life Insurance Association and the General Insurance Association of Korea on the 23rd, a total of 33 individual items received exclusivity rights from January 1 of this year up to today. This represents a decrease of 9 from the 42 items during the same period last year.

Exclusivity rights grant insurance companies a period of exclusive usage rights for developing original insurance products, coverages, or services. Categorized by the basis of recognition, "development of new risk rates and risk guarantees"—which involves creating new coverage items or newly calculating disease/accident occurrence probabilities—was the most common at 18 cases (54.5%). Last year, it also held the largest share with 28 out of 42 cases.

"Benefit methods," which involve newly designing insurance payout methods or coverage limits, stayed flat at 7 cases compared to last year. "Services and systems," which provide health management or legal counseling, increased from 2 to 5 cases. Meanwhile, "others," which encompass underwriting screening methods, premium structures, and retirement pension fund designs, decreased from 5 to 3 cases.

From Pregnancy Tests to Dementia Treatment Side Effects: Granular Coverage

Looking at the coverage details, items related to pregnancy, fertility, and women's health increased from 4 cases last year to 5 cases this year. Coverage targets have become more granular, spanning from pregnancy-related expenses to tests during fertility treatments and menopause caused by treatment. Hanwha General Insurance secured 3 cases: pregnancy support funds, tests to improve embryo implantation success rates, and diagnosis costs for treatment-induced menopause. Also included were Kyobo Life’s coverage for specific uterine disease-related benefits and ultrasound tests, and Hyundai Marine & Fire Insurance’s coverage for chorionic villus sampling or amniocentesis following abnormal findings in prenatal screening tests.

Dementia and nursing care-related items also increased from 3 cases last year to 4 cases this year. Methods emerged to cover early dementia diagnosis, tests during treatment, and side effects, as well as providing additional insurance payouts if a long-term care status worsens. AIA Life received exclusivity rights for a rider covering minimal cognitive impairment confirmed positive by amyloid Positron Emission Tomography (PET) scans. Heungkuk Fire & Marine Insurance covers MRI testing costs during targeted dementia drug treatments, while Samsung Life covers specific cerebral hemorrhage side effects (ARIA-H) occurring after anti-amyloid drug treatments. DB Life was recognized for a structure that provides additional diagnosis funds if a long-term care status worsens to a grade requiring more intensive care.

In the cancer field, coverages and services reflecting testing and treatment methods also appeared. Heungkuk Life's biodegradable material injection for prostate cancer, Hanwha Life's major cancer treatments under selective benefits, and AIA Life's cancer treatment coverage using specific new medical technologies received exclusivity rights. Lina Life was recognized for its minimal residual disease testing service utilizing Whole Genome Sequencing (WGS).

From Extending Insurance Periods to Family Contract Discounts: Diversified Payout Methods and Services

There were also cases that changed insurance payout conditions or coverage limits. DB Insurance won exclusivity rights through a method that extends the insurance period up to age 100 without increasing premiums if specified health management target diseases do not occur by the first renewal point. Heungkuk Fire & Marine Insurance developed a "limit carryover" structure that rolls over unused limits of major treatment costs, while Samsung Life developed a method that adds to the death benefit in connection with health insurance payout history.

In the service and system sector, cases linking health management or family disease occurrences with premium benefits stood out. These included DB Insurance’s health management check and automatic premium reduction system, and Samsung Life’s service offering discounts on family contract premiums if a critical illness occurs within the family. DB Life was recognized for its AI health coaching service, which guides users through health grades and premium discount benefits based on personal health data and provides health counseling.

Conversely, psychiatric disorders and pet-related items, which recorded 3 and 5 cases respectively last year, had zero cases receiving exclusivity rights during the same period this year.

Overall Total Drops from 42 to 33: Life Insurers Up, General Insurers Down

The total number of items granted exclusivity rights decreased from 42 last year to 33 this year. Although the overall count dropped, a look inside reveals a contrasting atmosphere. While life insurance items surged from 9 to 21, general insurance items dropped from 33 to 12. Industry insiders interpret this as general insurers focusing on substance—such as managing loss ratios and securing profitable contracts—rather than launching new products, which may have led to a decline in acquiring exclusivity rights.

An insurance industry official noted, "Just because an insurer develops original coverage and receives exclusivity rights does not mean it will automatically become a hit product," adding, "We have to observe actual market reactions." The official emphasized that the novelty of coverage and whether consumers feel the actual necessity to pay premiums and sign up are entirely separate matters.

[ⓒ Global Economic Times. 무단전재-재배포 금지]