Alzheimer’s disease is a growing dilemma that countless American families face. Of the 50 million American seniors living today, approximately 5.8 million suffer from Alzheimer’s dementia. Alzheimer’s claims hundreds of thousands of American seniors’ lives each year and is the sixth-largest killer in the United States, but there is no known cure for the disease. The best way to lessen the disease’s severity, then, is to detect warning signs early on and work to retain cognitive function through a cognitive assessment, brain training, and lifestyle changes.
Luckily, one American life insurance company is following the lead of Japanese insurers SOMPO Himawari Life and Dai-ichi Life in offering digital cognitive assessment tools to policyholders to prevent and counteract dementia. On September 21, World Alzheimer’s Day, Hannover Life Reassurance Company of America (Hannover Re US) and digital health company Neurotrack announced their partnership, which will allow the insurance company and their clients to measure and monitor cognitive function through easy-to-use digital tools.
Early Detection and Prevention through a Cognitive Assessment
Although there is no known cure for Alzheimer’s, there are a few medications on the market that help lessen the symptoms of the disease. None of these medications, however, work to slow or stop the progression of symptoms. The solution, then, is to assess brain function through skills like processing speed, recognition memory, associative learning, associative memory, and spatial working memory to measure a brain’s current cognitive function and predict its potential future decline. If a cognitive assessment reveals potential cognitive issues early, steps can be taken to minimize function loss over time and create targeted lifestyle goals and changes to benefit brain health throughout an individual’s life.
In September, Hannover Re US became the first American life insurance to partner with Neurotrack, a company that develops Alzheimer’s monitoring software that works through a user’s smartphone. The partnership will allow Hannover Re US’ clients access to Neurotrack’s state-of-the-art Cognitive Health Program, which will track their cognitive health over time and help them manage their risk of developing Alzheimer’s. It will also allow the company’s underwriters with Neurotrack’s Cognitive Assessment program, which will provide them the ability to process new policies and claims regarding clients with Alzheimer’s remotely and reliably.
Neurotrack was founded in 2012 to provide tools to assess and maintain cognitive function to people everywhere. Investors, neuroscientists, caregivers, and patients around the globe back the organization, which has a track record of success, shown by the rapid growth of the investments in its products.
In 2016, the organization raised $7.5 million in a Series A funding round, and in 2018, it raised another $13.7 million in a Series B funding round. By the spring of 2019, the company had received a $3.3 million research grant from the National Institute of Aging, a division of the United States National Institutes of Health. In 2019, the company raised another whopping $21 million in a Series C funding round. Due to the rapid growth of the company, scientists are constantly learning how to help patients measure and maintain cognitive function.
About Hannover Re US
Hannover Re US is a North American life and health reinsurance subsidiaries of the Hannover Re Group, which is licensed and/or accredited in all 50 states, the District of Columbia, and Puerto Rico. The group is the third-largest reinsurer internationally and transacts all lines of both life & health and property & casualty coverage. Its network includes over 150 representative offices, branches, and subsidiaries.
We hope this information on Neurotrack’s cognitive assessments through Hannover Re US is helpful to you.
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