Swiss Re has released a life expectancy report detailing emerging trends in medicine, healthcare and lifestyles that life insurers will need to understand as the industry prepares for the next wave of longevity improvements. 

For life insurers – and also health insurers – tracking such innovations and their impacts over decades are important in the context of building long-range mortality improvement trend assumptions, Swiss Re says. 

“These assumptions are key, because small deviations in the mortality trend can have significant impacts on an insurer’s results over the long term.” 

The report, The Future of Life Expectancy, says advances in cancer treatments and diagnosis have the highest potential to kickstart life expectancy improvements. 

Liquid biopsies, for example, can offer much earlier detection for certain types of cancer, while the shift from more general therapies to personalised, precision medicines, is expected to improve survival rates. 

Additionally, the use of mRNA vaccines, which were successfully deployed during the Covid-19 pandemic, is an area of potential improvement. 

Several emerging technologies may also have a large effect on life expectancy, according to the report. 

It says the arrival of artificial intelligence (AI) in medical research and in guiding treatment decisions as well as wearable devices and apps to monitor an individual's health or wellbeing can deliver future improvements. 

AI is already in use today to support cancer diagnostics. AI and machine learning algorithms analyse imaging and screening data from mammograms, CT and MRI scans, as well as pathology images from tissue biopsies. 

“We expect these technologies to enhance medical advancements, ‘nudge’ lifestyle factors via wearable devices, and improve medical decision making and diagnoses of many conditions,” the report says. 

The report also touched on AI chatbot ChatGPT and other large language models, saying the technology offers the potential to revolutionise medical innovation and research. 

Swiss Re Head of Global Underwriting Claims & R&D Natalie Kelly says medical technology, lifestyle changes and access to healthcare will propel the next wave of longevity improvements. 

“The public and private sectors both have roles to play,” she said. “For the insurance industry, it is vital that we understand these complex drivers so we can continue to protect customers when they need it most and encourage people to make lifestyle choices that support longer, healthier lives.”