Innovation & digitalisation
Life insurance is evolving to suit our needs in an ever-growing landscape of technological advances and medical scientific breakthroughs.
The Medical & Health Services team enjoys innovating new product solutions and maximising the role that digital technology can have at all facets of life insurance, allowing access to simpler, more accessible, and customised insurance products.
Their involvement spans three core areas of digital health:
1. Health & Wellness
Wellness programs
A healthy diet and lifestyle together form a key driver of improved health outcomes for many people. Through our business relationship with bioinformatics experts, the Medical & Health Services team helps maximise the value of wearable biometric data that incentives healthier behaviour and detects key medical health risks and conditions. This state-of-the-art development allows people to seek medical care and treatment timeously.
Wellness products
The Medical & Health Services team is interested in genomic research and understands that people need comfort and reassurance about the type of support they will receive when faced with a cancer diagnosis. The team works closely with our Product team to explore and identify ways to design and develop product solutions that meet people's needs through innovative preventative, diagnostic, therapeutic and supportive solutions.
2. Digital distribution
The Medical & Health Services team supports the growth and development of different distribution approaches across ecosystems by reviewing and carefully crafting medical rulesets for automated underwriting.
In addition, they are focused on identifying opportunities that exist through artificial intelligence (such as optimising the ability to connect people with products that suit their needs) and progressing the way that such technology can augment customised product solutions.
3. Digital health data
The Medical & Health Services team strives to improve the underwriting and claims journey by evaluating ways to maximise the value of electronic health records to obtain the relevant information that can be processed directly through our automated rules engine for underwriting or claims.
This core breakthrough will enable end-customers to opt for additional health data metrics to be incorporated into their health risk profile at underwriting.
It will reduce the requirements for additional insurance medical requirements and the verified information will improve the accuracy of automated risk assessments. Importantly, it will accelerate the processing time for both underwriting and claims assessments as verified information is retrieved through direct integration with GP practice management systems
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If you need further information or would like to send us feedback, please feel free to get in touch.