BrightRock’s market-first Trauma IQ assessment leads the way
Update from BrightRock on the Trauma benefit
that is automatically offered to our PBA clients who have a BrightRock policy with Additional Expenses (Dread Disease). This is the only Trauma benefit in the market that will assist our clients financially should they experience a traumatic injury. Article below from BrightRock highlighting how the benefit operates:
We launched our Trauma IQ assessment almost two years ago. It has been a great success since then, proving to us that this was a much-needed innovation in our market and extending the range of claims for which clients can receive an additional expense needs pay-out. The Trauma IQ assessment looks at nine factors or elements that contribute to the financial impact of a traumatic injury, as shown below. These elements aren’t typically considered by the traditional critical illness definitions in the market, which means BrightRock clients are able to receive pay-outs for claims that would usually not qualify for a pay-out.
Our nine impact elements are designed to work together to generate a pay-out for a client. Just on their own, some of them don’t trigger a payment, but when assessed using our Trauma IQ calculator, and considered together with the other elements, will result in a score based on exactly what happened to a client.
The cover amount for the Trauma Impact Quotient will be a percentage of the client’s cover for additional expenses, up to a maximum of R500 000. Once the minimum criteria are met, Trauma IQ pays out from 1% of a client’s additional expense needs cover, while pay-outs under our clinical definitions start from 5%.
In the last 18 months more than half of our pay-outs for additional expense needs caused by accidents have been Trauma IQ claims.
The high number of Trauma IQ cases we’ve had is testament to the need for this feature, and the gap that it fills in an industry which, up to now, has only covered events that comply with listed procedures or diagnoses.
It’s important to remember the purpose of additional expense needs cover, which is to provide funding for additional costs that are the result of the unforeseen illness or injury. Through Trauma IQ, we have been able to make clients’ cover for additional expenses more comprehensive and assist more clients financially where other life insurers currently don’t.
Please contact your PBA broker should you wish to discuss the above benefit or should you require any additional information, remember to let us know should you experience a TRAUMATIC INJURY as you may qualify for a claim.