World Cancer Day is marked on 4 February. With COVID-19 dominating the headlines at present, there is a risk that the threat of cancer will fade into the background. The figures speak for themselves in terms of how urgent the issue truly is: The risk of developing cancer before the age of 75 year is 20%, i.e. one in 5 people worldwide develop cancer during their lifetime, and one in 10 people die from the disease. Although Europe contains only 9% of the world population it has a 25% share of the global cancer burden (European Journal of Cancer). According to the WHO within the next 20 years, the number of new cancer diagnoses is projected to increase by 56% and the number of deaths to increase even by 63%.
1.314.193 new cancer cases were recorded in Central and Eastern Europe (including Russia and Ukraine) in 2020, with 695.828 people dying of cancer during the year. Cancer is therefore the most common cause of death in Central and Eastern Europe after cardiovascular diseases. One third of cases are preventable, while another third has a good prognosis when diagnosed and treated early.
No insurance in the world can cure cancer, but a good insurance policy can be instrumental in fighting cancer. In many cases, a cancer diagnosis is accompanied by financial concerns. Cancer often results in an incapacity to work or a need to reduce working hours, with income falling as a result, while spending simultaneously increases due to treatments that are not always fully covered by health insurance. The patient is therefore fighting two battles.
Even if a cancer diagnosis does not result in financial problems, having a sufficient cushion of money means that patients are free to concentrate on the things that are important to them such as friends and family, or even travelling. Being free from financial worries in an exceptional situation like this gives the patient peace of mind to a certain extent and enables them and their family to concentrate fully on the cancer treatment.
Swiss Re is working closely with life & health insurance companies in Central and Eastern Europe to develop new cancer insurance policies that are flexible and tailored to the individual needs of patients and their families. So what do patients need to be best placed in their fight against cancer? Needs vary greatly on a case-by-case basis, so the products are modular and can be structured according to the specific needs of each patient.
Some customers want a one-off payment in the event of a cancer diagnosis so that they can decide for themselves how they want to use the money, while others prefer a solution that guarantees tailor-made support throughout their treatment. This type of solution offers services such as a second medical opinion. According to the experience of Swiss Re's partner MediGuide 4% of diagnoses were corrected and in 14% of all cases surgeries could be avoided. So, in total 91% of the treatment protocols were changed.
Furthermore, assistance services can also help in many ways to cope with such a challenging situation. They navigate to best suitable medical facility and doctor - even treatment abroad - and also help to absorb the mental shock for the affected persons and their families.
Above all, assistance services like treatment abroad are in strong demand in CEE countries. Patient Beyond Borders estimates 21-26 mio cross border patients around the globe annually. According to the experience of our service partner Medigo about 5.7% of travels abroad were due to cancer, especially due to breast cancer, acute leukemia or prostate cancer. However, it is a weighted number ie only 0.5-1% are from high income countries whilst 25-30% are from lower income countries like CEE. Based on Medigo inquiries for cancer treatment from 2014 - 2020, the top five destinations in Europe for cancer treatment abroad were Germany, which is preferred choice for breakthrough treatments like CyberKnife, High-Intensity Focused Ultrasound or Brachytherapy, followed by Italy, Spain, France and UK.
It is therefore not surprising, that cancer products including assistance services are in high demand in Central and Eastern Europe. Although the healthcare systems in these regions are subsidised by the state, the benefits often aren't sufficient for the patient to tackle serious illnesses such as cancer without additional insurance. The number of people opting to take out these products proves this point: Swiss Re's cancer insurance product have become very popular throughout Central and Eastern Europe, with a steadily increasing number of customers.
Swiss Re has already implemented many cancer solutions across CEE together with their clients and service partners covering literally all ages from 0 to 100. We are glad that we can support patients under these difficult circumstances by improving their treatment options and making their day-to-day life less stressful.
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