Precision Health Management: Smarter Care Drives Client Retention

Sarah had always been proactive about her health. As a successful business owner and mother of three, she never missed her annual check-ups. However, when she was diagnosed with breast cancer at 42, she felt blindsided not only by the diagnosis but also by the overwhelming journey that lay ahead.

Although her health insurance covered standard treatments, she quickly realized the gaps: Which treatment was best for her specific type of cancer? How would her body respond to the prescribed medications? Her doctors couldn't answer these questions immediately, and navigating her options felt like a maze with no clear way forward.

No Longer Alone

Now, imagine a scenario where Sarah's financial advisor or employer introduces her to a program that could provide those answers before she needs them. With newly available precision health management programs, individuals can access advanced diagnostic testing and expert clinical guidance that help them make informed health decisions. For financial professionals and benefits brokers, offering this proactive solution is more than a value-add. It's a game-changing product that fosters client loyalty, builds long-term relationships, and provides meaningful differentiation in an increasingly competitive landscape.

The Rising Demand for Precision Health

The need for personalized healthcare solutions has never been clearer. A 2023 study by the National Cancer Institute revealed that approximately 5% to 10% of cancers are hereditary, indicating they arise from inherited genetic mutations. Early identification of these risks through genomic testing can lead to preventive strategies that significantly improve outcomes. However, traditional health insurance often does not cover such testing, leaving individuals without the information they need to be proactive about their health.

Medication response can vary widely among individuals. Research published in the Journal of the American Medical Association (JAMA) indicates that approximately 99% of people possess genetic variations that affect how they metabolize medications. This statistic highlights the significance of pharmacogenomic (PGx) testing, which can optimize treatment plans and minimize the risk of adverse drug reactions. Furthermore, standard insurance plans rarely cover PGx testing.

Financial advisors and insurance brokers who understand these gaps have the opportunity to bridge them by introducing clients to precision health management programs, like Kadance. This strengthens trust and shows long-term care for clients' financial and personal well-being, aligning with the increasing trend of personalized medicine.

A Competitive Edge for Financial and Insurance Professionals

For financial professionals, assisting clients in planning for the future isn't solely about investment strategies and retirement accounts. It also involves protecting their most valuable asset: their health. According to a study by Genworth, 70% of individuals over 65 will require some form of long-term care, and the costs can be staggering. Providing access to precision health services that complement health and long-term care plans can aid clients in receiving more targeted, and ideally better, medical care while also helping to alleviate potential financial burdens.

At the same time, the landscape is changing for insurance agents and brokers. Traditional life and critical illness insurance policies are evolving, with policyholders expecting more than just a payout following a health crisis. By incorporating precision health programs into their portfolios, brokers can establish themselves as trusted advisors who offer proactive solutions instead of merely transactional policies. This strategy fosters client loyalty and enhances the likelihood of policy retention over time.

Meaningful Benefit for Employers and Their Workforce

In the employer-sponsored benefits space, health coverage alone is no longer sufficient to attract and retain top talent. Employees seek benefits beyond basic insurance that demonstrate their employer’s genuine concern for their long-term well-being. A recent survey by MetLife found that 69% of employees believe having access to personalized health benefits would enhance their loyalty to their employer.

For benefits brokers collaborating with employers, providing precision health solutions, like those offered through Chubb Workplace Benefits, can be a significant differentiator. These programs enable employees to access advanced genomic testing, medication optimization services, and expert guidance to help them make informed health decisions and receive more effective care. For employers, this heightens employee satisfaction and retention and also boosts workforce productivity while lowering long-term healthcare costs.

Bridging the Gap Between Health Coverage and Precision Medicine

While traditional health insurance offers essential coverage, it frequently fails to incorporate the latest medical advancements.Precision health management programs present a seamless approach for individuals, financial professionals, and employers to integrate advanced diagnostic testing into their planning and benefits strategies.

For brokers and financial advisors, recommending such a program demonstrates a commitment to their clients' overall well-being. Whether in the individual market or the employer space, precision health management is more than just an add-on. It's a forward-thinking approach that aligns with the future of healthcare.

The Future of Client Relationships and Benefits Innovation

In a world where personalized experiences drive consumer loyalty, the same principle applies to financial and insurance professionals. Clients want to know that their advisors and brokers are not just selling policies; they seek someone who will invest time and effort to protect their financial and personal futures. Precision health programs provide a unique opportunity to reinforce that trust while delivering tangible, life-changing value. As the healthcare landscape evolves, one question remains: Will you be the advisor or broker who sells policies or one who transforms lives through proactive, precision-driven solutions?

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Written By:

Kim Scott, Chief Commercial Officer, Kadance

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