A shake-up of disability insurance product design was among the topics discussed at a Zurich roundtable on mental health challenges.

Trends in mental health diagnosis and the role of life insurance were also covered at the meeting with stakeholders including psychiatrists and representatives from health insurer Bupa and support group Lifeline Australia.

“An in-depth discussion was ... facilitated to explore principles and ideas for the reform of disability insurance products, with a view to specifically address current design limitations and unintended consequences for those with mental health conditions,” Zurich said.

Zurich CEO Justin Delaney says disability insurance products are an “important part” of the financial safety net for people with mental illness.

“However, the suitability of these products for people with mental health conditions has become increasingly challenging,” he said.

“As we seek to innovate these products, we recognise the importance of doing so collaboratively.”