We’ve talked a lot about cancer so far this year… and for good reason! We’ve never seen cancer claims appear so highly in multinationals’ claims data.

We aggregate standardised, anonymised medical claims data from 43 countries, covering more than 1.3 million employees’ lives. Before the COVID-19 pandemic, cancer was ranked sixth in overall claims spending. Since then, its position has steadily gone up – reaching third place last year, ahead of respiratory system diseases.

As well as a substantial rise in cancer-related claims costs (a 242% in 2023 compared to 2019), the number of claims being made has also grown – we’ve seen a 184% increase in incidence in the same period.

On the latest Global Captive Podcast (GCP) episode, our experts Nicola Fordham, Chief Solutions Officer and Dr Leena Johns, Chief Health and Wellness Officer, joined Richard Cutcher to discuss these data insights and shared what actions multinationals can take in response.

Five ways multinationals can respond

1. Analyse data: prevention and screening are key to catching cancer at its most treatable and manageable stage. But the level of availability of these services can differ across countries, leaving employees facing unique risks in different parts of the world. Multinationals can use MAXIS’ data alongside their own insights to identify areas where gaps can be filled.
2. Captive solutions: these can help multinationals enhance the level of service they’re able to offer their people by absorbing some of the risks of providing global employee benefits (EB) and health and wellness interventions, while also potentially helping to limit future claims costs.
3. Equity: taking an equitable approach to benefits by offering minimum global standards can help ensure multinational employees have equal access to cancer prevention and care, no matter where in the world they work. By doing this, multinationals also send a strong message about an employer’s values to both employees and talent looking for a new role.
4. Partnerships: multinationals can face hurdles when it comes to offering global minimum standards. Working with global health and wellness partners can give employees access to virtual and in-person services that overarch, top up or supplement local offerings.
5. Support: cancer is an emotional and financial challenge as well as a physical one. Multinationals can enhance their EB offering by ensuring they offer a full suite of support, such as mental health support services, critical illness, disability and life insurance cover. 
    

Interesting in learning more? Listen to the latest GCP episode today.

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