Digital health services and the insurance industry

Digital health services help insurers increase customer engagement, loyalty, and enable them to assess health risk accurately, while at the same time helping people make healthier choices

LONDON, Sept. 14, 2020 /PRNewswire/ — In an article published in Business Reporter, dacadoo, a provider of solutions for digital health engagement and health risk quantification, describe how digital health services are creating new value in the insurance landscape.

They help insurers increase customer engagement and loyalty, as well as enabling consumers to manage their health better, for instance by using a digital health engagement platform which enables them to quantify their health in a holistic manner.

According to the article, “digital tools create a detailed picture of each user’s overall health. Insurers can then use a data-driven approach to personalise premiums through a dynamic pricing or ‘pay-as-you-live’ system. Digital risk assessment also allows for accelerated underwriting with confidence, streamlining the enrolment process.”

Consumers benefit from these digital tools as well. Studies have shown that apps and wearables may help their users:

  • Prevent lifestyle diseases from emerging
  • Improve the diagnosis of early stage conditions
  • Manage chronic conditions
  • Lower lifestyle risks

Many consumers have negative experiences of health services or are prejudiced against them. This means preventative care is often missed. However digital solutions solve this problem by “creating a daily dialogue with users, encouraging them to stay on top of their health and contact their provider where necessary.” This is beneficial for both patient and insurer.

Millions of people around the world rely on wearable devices for health and lifestyle coaching. dacadoo enables insurers to leverage the data that these devices generate to deliver faster and more accurate underwriting, while at the same time engaging their members and motivating consumers to lead healthier lives.

To learn more about the opportunities delivered by digital health services, read the full article.

This press release has been provided by Business Reporter.

Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting businesses to a global audience. It also hosts conferences, debates, breakfast meetings and exclusive summits.

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