RGA’s Heather Deichler, Senior Vice President, Head of Group Re and Latin America, discusses how group insurance has evolved over the past decade through digital transformation, expanded coverage options, and enhanced customer service expectations and explores growth opportunities this evolution has created across the Americas.
RGA’s Heather Deichler, Senior Vice President, Head of Group Re and Latin America, discusses how group insurance has evolved over the past decade through digital transformation, expanded coverage options, and enhanced customer service expectations and explores growth opportunities this evolution has created across the Americas.
The changes really fall into three major buckets. First, customer expectations have completely transformed. Previously, customers expected a simple exchange of money for services: They paid the premium, filed a claim if something went wrong, and awaited payment.
Today, customers look for a huge array of services around their insurance benefits in addition to the payment. For example, with life insurance coverage, customers may request bereavement support for beneficiaries, help with closing accounts, and even assistance with writing obituaries. For leave planning – say someone's going out on short-term disability to have a baby – they might expect visualization tools to help them understand how their disability benefits work in conjunction with company paid leave, state paid leave, and vacation days.
The second major change is in the types of coverage. Products like critical illness, hospital indemnity, and accident coverage were not very prevalent 10 years ago in the US. Most of these products originated in the South African market. Given changes in the health insurance space following the Affordable Care Act, when more people shifted to high-deductible plans and started facing cost pressures, there is increasing recognition of the value these programs provide.
The third change reflects a complete shift toward digital tools and support. People want to enroll online, understand how products work together, see real-time premium cost calculations, and process claims digitally. They do not want to pick up the phone or collect medical bills as proof – they want carriers to pull information directly and just mail the check.
That evolution in expectations translates directly to what insurers expect from their reinsurance partners. It is no longer simply about providing coverage for claims. Reinsurers like RGA now can play a consultative role as trusted advisors, provide insights across multiple products, and leverage our extensive datasets to help insurers understand broader trends in morbidity and mortality. We can see industry performance patterns, different distribution methods, and how all these pieces work together. That is the true value of the reinsurance partnership.
Built exclusively for the group insurance market as part of the RGA Group Risk Dimensions® portfolio of data products, MedScore® combines the predictive power of prescription drug and digital health data in a single risk assessment score for group insurers.
I was very fortunate in my career to dive deep into many businesses with different product types and distribution methods and to work with various international partners. What I like about reinsurance is it allows me to take a step back and get that 30,000-foot view – to look at things holistically across business lines and understand not just how one company works, but what is happening across the industry.
Because I worked on the carrier side, I can offer some perspective for the wants and needs of our customers at least for a little while.
As for RGA's strengths, what immediately impressed me was the long tenure of many employees. The relationships they have built within the industry are incredible. I have spent a lot of time in my first few months meeting with brokers and customers, and the positive feedback about RGA’s people is remarkable.
Being the only US-based global reinsurer specializing in the life and health space is also a unique advantage. Our partners appreciate that we can get decisions back to them quickly – they know and have met the decision-makers and can pick up the phone to call any of us. We have done a great job pushing decision making down within the businesses, which enhances the responsiveness of our teams.
Latin America presents both opportunities and challenges because each country has its own government, rules, products, and economic needs.
While Latin American countries are at different stages of economic maturity, many countries in the region are ripe for more products. Bolstered by a family-oriented culture, we see populations that recognize the need for protection and can afford to buy products. They value protecting their families against loss of life or inability to work. When you compare Latin America to the US, there's actually a wider array of life and health products sold in many of these markets.
Given the wide array of regulations and market opportunity, we recognize that operation in certain countries may not make sense for regulatory, population, or economic reasons, while others have very robust economies and strong marketplaces.
Our Latin America team has been rolling out automated underwriting tools like Aura Next to various clients. One unique aspect of this market is that many of our partners look to us for training in underwriting, claims, and actuarial services. This creates a loyal customer base that values our partnership along with all the services and insights we bring.
We have identified many opportunities in specific markets where we can really lean into demographics and either launch new product lines or focus on building out innovative options. We are constantly thinking about different types of coverage and ways to partner with direct insurers.
We will also see more value-added services emerge, including RGA tools like MedScore and our Rose Consulting team that provide comprehensive insights and strategies.
In Latin America specifically, we are continuing to deepen relationships through training and services, and we often work with partners to build new products together. This way, we are simultaneously aligned on the risk of bringing new solutions to the market while our clients benefit from our larger data set and expertise.
I enjoy golfing and playing pickleball with friends. Sadly, I am not particularly good at either, but I enjoy playing both. Right now, I value fun over competition. I also love US and global travel.
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