Health Insurance innovation
A recent report by Frost and Sullivan describes some of the current developments in innovation taking place in the health insurance industry. The report says that “insurers are keeping pace …by engaging the services of some of the start-ups targeting the health insurance sector.
These large-scale transformations are forcing the health insurance industry to evaluate all aspects of its business models, policyholder engagement and plan structures."
The major disruptions in private insurance relate to consumerism, Big Data and analytics, chronic disease prevention management, mHealth tools and transition to value-based compensation.”
“Health insurance innovations are aimed more at operations that save costs and improve efficiencies, rather than at product customisations or market awareness and access,” said Frost & Sullivan transformational health research analyst Siddharth Shah. “Due to market disparities, the developed markets emphasise cost reduction, while the others focus on expanding coverage.”
Source Health Insurance Daily
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