Cancer cases had the highest average claim and musculoskeletal conditions were the largest type by volume last year, according to Zurich life insurance data.

The average claim amount for cancer was $187,000, followed by cardiovascular ($150,000), neurological ($144,000) and mental health ($118,000).

“Some of these conditions saw significant double-digit average claim amount increases since 2022,” the life insurer said.

Musculoskeletal cases accounted for more than one-third of all claims (34%), followed by cancer (21%), mental health (18%) and cardiovascular (9%). This was consistent with 2022’s figures.

“Behind every claim is a person or family experiencing challenging times,” chief claims officer Matt Paterson said. “We are proud to have supported more than 12,000 claiming customers in 2023 at a time when they needed us most.”

Zurich released the claims data in its Cost of Care report. The report also highlights strong prevalence of mental health and musculoskeletal conditions, and significant lifetime costs to manage conditions such as cancer ($65,000 on average) and acute coronary events ($66,000 on average).

“Both Zurich’s claims data and Cost of Care analysis highlight a growing need for Australians to prioritise resilience and prevention across their health and finances,” Mr Paterson said.