The data revealed that musculoskeletal claims comprised 34% of the total, followed by cancer at 21%, mental health at 18%, and cardiovascular conditions at 9%. These figures are consistent with claims data from 2022.
The highest average claim amount was for cancer at $187,000, followed by cardiovascular claims at $150,000, neurological claims at $144,000, and mental health claims at $118,000.
Some of these conditions saw significant increases in average claim amounts from the previous year.
The analysis showed that men were more likely to claim for musculoskeletal conditions, while women were more likely to claim for mental health conditions and cancer.
The analysis aligned with trends in Zurich’s “Cost of Care” report, which identified high prevalence rates for mental health and musculoskeletal conditions and highlighted the substantial lifetime costs of managing conditions such as cancer, averaging $65,000, and acute coronary events, averaging $66,000.
Mental health issues were the most common conditions from 2020 to 2022, with more than 12 million cases. COVID-19 followed closely, with around 11 million reported cases in the same period. Focusing on cancer, the report noted significant increases in prostate cancer (+44%), breast cancer (+14%), and melanoma (+27%).
“Both Zurich’s claims data and ‘Cost of Care’ analysis highlight a growing need for Australians to prioritise resilience and prevention across their health and finances,” said Zurich chief claims officer Matt Paterson said. “This area will continue to be a strong focus for Zurich and the value we offer our customers, with data playing a key role in the continued evolution of these services.”
Zurich’s claims data is available at zurich.com.au/lifeclaims and OnePath claims data at onepath.com.au/lifeclaims.
