Published by Andrew Parr on February 23rd, 2021

You may have already noticed, but the world doesn’t look the same as it did a year ago. Today, it feels like the world moves faster and faster. And, while it’s a bit cliché to say it, it’s not so much of a change as it is an acceleration of trends that were already there. The acceleration of changes has raised the stakes for companies (both insurance and otherwise) to meet those changes. So, what are some of the key changes that the insurance world needs to be ready to address? I’m glad you asked, let’s take a look!



1.    Mental Health and Substance use

To the point I made earlier about accelerating existing changes, mental health and substance abuse are a case in point. Between January and June of 2019, 11 percent of adults reported symptoms of an anxiety or depressive disorder. That number in January of 2021? 41 percent: wow.1

The solution here is a pretty obvious and straightforward one. It’s well past time that insurance companies start looking at mental health and substance use problems as a condition much like any other – one that requires financial support from their benefits carrier. These conditions are very real, they’re very difficult to address, they’re very much prevalent today and they’re very much worthy of benefits from carriers whose job it is to protect their policyholders.

2.    Telemed/Telehealth 

During a highly contagious pandemic, a waiting room with potentially sick people is, unsurprisingly, not a very popular place to be. So telemedicine and telehealth have certainly been on the rise. In fact, 83 percent of patients expect to use some form of telemedicine even after the pandemic resolves.2 This isn’t a new trend, it’s one that’s been accelerated and not going anywhere.

Today, many of the voluntary benefits we offer have requirements on where a policyholder needs to receive treatment in order to receive benefits. In an increasingly digital and socially-distanced world, we need to be able to support policyholders seeking treatment through telemedicine/telehealth options.

3.    COVID-19/Pandemics 

I don’t think many of us gave all that much mind to an unforeseen global pandemic back in 2019, but it’s certainly top of mind right now. We still have a long road to go before we’ve moved past the current pandemic and it’s safe to say that the general public’s awareness and general level of concern is going to be elevated going forward. A lot of insurance companies (Trustmark included) are taking steps towards temporary stop-gap solutions to dealing with the pandemic. And, while these are much-needed and a great first step, it’s also important for carriers to start looking at long term solutions and innovative ways to address the current pandemic and concerns for any future illnesses. 

4.    Expanding testing and wellness

While this is, again, not going to be an earthshattering surprise, the truth is people are a bit more health conscious right now and more interested in testing and maintaining their wellbeing. And, much like the other trends I’ve addressed here; the voluntary benefits world needs to be ready to meet that need. Many health-related voluntary products offer a wellness benefit, but not all of them are as far-reaching or as all-encompassing as they could be. Including benefits for things like genetic testing, more expansive follow up testing and more illness testing is just what policyholders need right now.

So, which of these trends is Trustmark addressing? I’m proud to say that the answer is: all of them. That’s one of the things that makes the insurance industry exciting. Like medicine, it’s constantly evolving. And, for carriers to stay at the forefront of the industry, they have to evolve to meet the changing healthcare needs of the people we protect.

1 The implications of COVID-19 for Mental Health and Substance Use. Kaiser Family Foundation. February 2021. 
2 Four new statistics that prove that telemedicine isn’t just a pandemic fad. Medical Economics. July 2020.