Consumers can now assess their health risks with direct – to – Consumer DNA testing Kits.
Direct – to Consumer DNA Kits, commonly used to track ancestry roots, is increasingly allowing individuals to assess their potential health risks by predicting genetic illnesses.
For life Insurers, a sector that banks on its ability to manage risk – taking when it comes to health, this new DNA era could mean an information disadvantage versus the Consumer. Although the risk is still theoretical at this point, but enough of a concern that it led bond rating agency Moody’s Investor Service to warn in a recent report that DNA testing could become a Credit negative rating for life Insurers.
Already, many Consumers and Privacy watchdogs have expressed concerns about the use of DNA test results to deny health Insurance, but there has been less attention paid to the potential influence this new Consumer health technology will have over the life Insurance Policy market.