The Industry Transformation pillar is committed to revolutionizing the nicotine ecosystem to reduce deaths and disease attributed to smoking. The global insurance industry is a vital—and often overlooked—component of this ecosystem. Smokers have a disproportionately high risk of death and disease, which translates into burdensome payouts for health and life insurers. As such, the insurance sector has a vested interest to join the fight to end smoking. Historically, however, there have been limited guidance and tools to accomplish this goal.
To fill this gap, the Engaging Insurers to End Smoking initiative is engaging in conversation with insurers to educate them about new and emerging tools in this field that could help smokers quit while saving insurers money through reduced claims and improved risk classification. These tools include improved biomarkers for smoking detection, scientifically-validated cessation support programs, and new reduced harm nicotine products and guidance on their associated risk. This could potentially lead to the development of innovative insurance solutions funded by the Foundation.