Conclusion: A pathway to better risk quantification and mitigation for female athletes
Most of the research covered in this paper has focused on assessing the injuries that female athletes experience and highlighting the financial impacts. However, in this section, we will cover the changes that the insurance industry can implement to improve the risk assessment for women in sports. Insurers may need to reconsider traditional risk models when assessing the risks that female athletes face. Insurance risk assessments often rely on historical data and patterns, which as suggested by the article include gender biases. More recently, there is an evolving understanding of female athlete injuries prompts which is nudging insurers to adapt their risk models. Therefore, this calls for a more nuanced approach to account for diverse injury patterns across genders.
Furthermore, insurers could advise sports companies to be more proactive by implementing practices derived from the latest research on athlete syndromes. From an insurance risk assessment perspective, insurers could provide incentives for participation in studies or adherence to evidence-based guidelines. This could be applied to produce a tailored approach to preventive measures and rehabilitation protocols.
In the context of ACL injuries and concussions, there has been evidence to suggest higher injury rates among female athletes in comparison to male athletes. Insurance providers may need to assess the increased risk of certain injuries in female athletes and adjust coverage accordingly. Therefore, insurance policies should account for the biological and contextual differences in female sports, ensuring comprehensive coverage and risk management for both female athletes and sports organisations. Due to the differences in concussion rates and symptoms between male and female athletes, insurers may need to evaluate and potentially differentiate their coverage for return-to-play protocols. This could involve considering the duration and intensity of rehabilitation programs, as well as the availability of qualified support staff. Insurers could incentivise sports companies to adopt evidence-based guidelines and gender-specific approaches to injury prevention and recovery thus impacting the frequency and severity of claims.
As well as increased risk assessment and demand for enhanced coverage to cover head injuries and concussions, insurance policies may need to have long-term care considerations embedded in them. This could include treatment for chronic neurological conditions that might arise later in the life of female rugby athletes. Furthermore, this could impact an athlete’s ability to secure health insurance, or they may have to pay higher premiums if insurers deem them at higher risk of head injuries due to their participation in the sport.
At WTW we’ve created an Insurance for Women in Sport product that is specifically designed to protect female athletes against loss of income due to injury or illness. We have also included additional bespoke support services including mental health support, retraining, childcare expenses, prosthesis cover, and reconditioning costs in the event of permanent disability. Moreover, we cover medical conditions over and above traditional personal accident policies including hormone deficiencies, pregnancy complications, heart attack or stroke, and post-traumatic stress disorder.
In conclusion, there needs to be a degree of flexibility built into policies. They are materialising in the form of periodic reviews and adjustments to guarantee that coverage remains parallel with the latest research and development in the understanding of athlete health. Flexible policies can integrate any emerging knowledge on syndromes affecting athletes.
