Impact of GLP-1 Drugs on Life and Health Insurance

GLP-1 drugs such as Ozempic and Wegovy have gained popularity due to their effectiveness in managing type 2 diabetes and weight loss. Recent surveys show that a significant number of adults in the US and Canada use these medications. The life and health insurance sectors are beginning to explore how these drugs could impact underwriting practices, as their use may improve health outcomes and could lead to lower insurance premiums for compliant users. As these medications continue to be integrated into insurance policies, brokers have the opportunity to tailor products for clients using GLP-1 drugs. This may include developing wellness programs that encourage healthy habits.

Insurers are still in the early stages of understanding the long-term effects of GLP-1 drugs, but industry leaders believe that these medications present opportunities for positive changes in risk assessments and policyholder engagement. By implementing wellness initiatives, insurers can create ongoing relationships with policyholders, moving away from traditional models that lack interaction. Additionally, awareness and responsible use of GLP-1 drugs are emphasized as key factors for both consumer and insurer benefits.

Brokers can leverage the burgeoning popularity of GLP-1 drugs to foster dialogues around proactive health management, encouraging healthier lifestyle choices among their clients and enhancing their value as trusted advocates in the insurance market.