Risk Solutions

Risk Solutions

As the only global reinsurer focused exclusively on life and health, RGA brings decades of experience and specialized capabilities to deliver customized risk management products and solutions.

In 2020, RGA professionals worked with clients to navigate the immediate challenges of the COVID-19 pandemic while continuing to implement sustainable strategies for long-term growth.

Paula Boswell-Beier

The global RGA enterprise pulled together in 2020 to ensure superior client focus and uninterrupted support amid worldwide disruption. Moreover, we refused to allow events to derail or diminish our determination to lead the future of insurance.

Paula Boswell-Beier

Senior Vice President, Global Shared Services, Administration Operations

  • (27-year CAGR since IPO, 1993-2020)

Mortality Business Proves Responsive and Resilient

RGA’s comprehensive portfolio of mortality reinsurance products includes individual and group-issued term life, whole life, universal life, and joint and last survivor life, among other coverages developed to meet market needs. In 2020, a client-focused response to the pandemic demonstrated both the strength and the stability of this core mortality business. Expert teams proactively worked with clients to adapt business practices, such as extending premium grace periods and adjusting underwriting and claims requirements. While absorbing unprecedented claim costs due to COVID-19, RGA maintained its financial strength and provided uninterrupted support for its client partners.

RGA’s leadership in mortality risk assessment provided clients with the resources and guidance necessary to battle uncertainty with expertise. In January 2020, RGA issued an awareness bulletin on the emerging risk of the SARS-CoV-2 virus – well before the World Health Organization declared a global pandemic. Since then, a dedicated COVID-19 section of the Global Underwriting Manual (GUM) employed GUM’s research-based approach of integrating medical knowledge with principles of risk selection and proved ideal for informing clients’ pandemic response. RGA routinely issued updates to provide insurers with the most current insights, analysis, and refined COVID-19 guidance, incorporating the medical team’s consultations with epidemiological experts and latest scientific research.

As the pandemic accelerates the digital evolution of the industry, RGA is dedicated to serving insurers as a trusted partner through this transition. Multidisciplinary teams, including underwriters, actuaries, claims managers, and data scientists, worked with clients in 2020 to create data-driven, technology-enabled solutions that not only addressed immediate demands but also embraced future-focused innovation. From converting alternative evidence sources into predictive risk scores to bringing practical, sustainable processes to claims adjudication, service enhancements progressed unabated and RGA ended the year well-positioned to lead the industry forward.

Growth in Group Reinsurance Gains Momentum

RGA’s group reinsurance lines support clients through a range of group products and workplace solutions, including life, disability, healthcare, accident, critical illness, and life catastrophe coverage. In 2020, RGA worked with group insurers to accommodate consumer needs during the pandemic, pursue new growth opportunities, and reduce the global coverage gap.

Group reinsurance experts explored untapped distribution channels and innovative product offerings to reach underserved consumers in every region RGA operates. Value-added services were focused on identifying and remedying inefficiencies in the insurance process and developing more customer-centric solutions, and RGA continued to champion the growth potential of voluntary benefits and engagement initiatives such as workplace wellness programs. Teams around the world leveraged RGA’s global platform to bring successful products and solutions from one market to another and from the individual space to group.

Dean Abbott

We developed a long-term strategic plan for sustained growth two years ago, and we are already seeing it pay off, both for RGA and for our clients. Our unique portfolio of products and services sets RGA apart within a competitive field of group reinsurers.

Dean Abbott

Senior Vice President, Head of U.S. Group Re and Latin America

U.S. Group Re combined disciplined pricing and risk management with innovation in products and services to produce an exceptional year. Group RiskDimensionsSM, a robust set of digital tools utilizing complex health and financial data, provided insurers with highly predictive mortality and morbidity risk scores. In healthcare, a “one healthcare” approach differentiated RGA within a competitive managed care and employer stop loss marketplace. The team leveraged comprehensive excess of loss, quota share, and self-funded turnkey solutions to create cross-sell opportunities and deepen client relationships. RGA’s ROSE® Consulting Group, a leading reinsurance-based cost and medical risk advisory program, saved U.S. health insurers $14.6 million in 2020, bringing total client savings to more than $435 million since 1984. ROSE Medical Risk Consultants provided subject matter expertise and targeted solutions to address some of the medical industry’s leading challenges, from COVID-19 to gene therapy, and continued to develop new strategies, such as a claim audit program to help clients cost-effectively manage complex claims.

Global Health Delivers Sustainable Solutions

RGA’s Global Health team made significant progress in advancing its long-term growth strategy in 2020. An expanded team incorporated new skill sets and specialties; enhanced data analytics and reporting capabilities created new opportunities; and continued expansion of technological infrastructure fueled further digitalization of healthcare service delivery and health insurance solutions for our clients. RGA’s Automated Solution for Claims Leakage (RASCL), an evidence-based tool that incorporates artificial intelligence and best-in-class technology, provided an innovative new way for clients to speed claims processing and reduce fraud, waste, and abuse.

Global Health generated notable business growth in 2020, building on momentum in every target market. RGA solidified strong positions in Italy and the Middle East as well as China, where a senior medical product successfully targeted a growing market need. The Mexico team launched Amae, a digital insurance platform and product for individuals with Type 2 diabetes that earned Celent’s Model Insurer 2021 Award for Digital and Emerging Technologies. In Southeast Asia, RGA extended regional operations through expansion into Vietnam and the Philippines. Meanwhile, the global team explored new markets worldwide to increase its global health footprint.

RGA’s individual health (long-term care) business in the U.S. maintained a disciplined approach to quality assurance and portfolio management to produce another solid year of earnings in 2020. The team applied deep technical expertise and decades of experience to better equip clients for a challenging business environment and explored new product frameworks to better serve elderly consumers and their families.

    • Dr. Dan Zimmerman
      Dr. Dan Zimmerman

      Senior Vice President, Head of Global Medical

    • Dr. Dave Rengachary
      Dr. Dave Rengachary

      Senior Vice President, Chief Medical Director, U.S. Mortality Markets

    RGA medical directors provide expert insights during pandemic

    “The medical team equipped clients with a deeper understanding of the latest mortality, morbidity, and healthcare developments and trends.”


    • Doug Knowling
      Doug Knowling

      Chief Data and Analytics Officer, Global Data and Analytics

    Building trust through ethical data practices

    “At RGA, effective analysis of data is integral to our business, and responsible use of that data requires the constant assessment of practices across our global operations.”

  • Learn more about RGA’s risk solutions at rgare.com


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