Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Top-10 Technology Trends in Health Insurance: 2018

2,764 views

Published on

The health insurance sector stands apart from Life or P&C insurance because of its unique model and number of stakeholders. Its challenges are sector specific: a fragmented ecosystem, margin pressures, regulatory uncertainty, and disjointed data access for stakeholders. However digital tools and data analytics appear to be addressing some of these long-time challenges.

While technologies such as RPA, AI, the blockchain, and advanced analytics are acting as levers to enhance both the top-line as well as the bottom-line for health insurers, APIs and emerging InsurTech firms are creating a more streamlined and integrated healthcare ecosystem. This report explores the top-10 technology trends that will impact health insurance firms’ strategic planning.

Published in: Economy & Finance
  • Hello! Get Your Professional Job-Winning Resume Here - Check our website! https://vk.cc/818RFv
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

Top-10 Technology Trends in Health Insurance: 2018

  1. 1. Top 10 Technology Trends in Health Insurance: 2018 November, 2017
  2. 2. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved.Health Insurance Trends 2018 | December 2017 © 2017 Capgemini. All rights reserved. 2 Top 10 technology trends in health insurance in 2018 Cloud Competition from Providers Social Media Wearables RPA and AI Blockchain API Predictive and Behavioral Analytics Value-based Analytics InsurTech Customer Experience Orientation Digital Analytics
  3. 3. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved.Health Insurance Trends 2018 | December 2017 © 2017 Capgemini. All rights reserved. 3 Provider competition spurs insurers’ focus on customer convenience for ensuring customer retention Comparative Advantages of Providers Comparative Advantages of Health Insurers Clinical data Cost More customer touchpoints Actuarial capabilities Underwriting expertise Claims expertise To gain a competitive edge, health insurers should develop greater customer centricity by exploring innovative offerings and value-added services Source: Capgemini Financial Services Analysis, 2017;
  4. 4. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved.Health Insurance Trends 2018 | December 2017 © 2017 Capgemini. All rights reserved. 4 Having an effective social media strategy is becoming an important priority for health insurers Source: Capgemini Financial Services Analysis, 2017; Social Media Strategy  Consumer sentiment data  Customer life-style need data  Social listening  Customer engagement  Improving public relation  Customer engagement  Customer education  Expanding customer reach  Customer engagement
  5. 5. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved.Health Insurance Trends 2018 | December 2017 © 2017 Capgemini. All rights reserved. ‹#› Health insurers are leveraging wearables to gather real-time data for enhanced customer engagement Source: Capgemini Financial Services Analysis, 2017; http://www.marketsandmarkets.com/PressReleases/wearable-electronics.asp Proactive risk mitigationPersonalized offerings Timely alert notifications Personalized pricing $51.6 bn Estimated size of the wearables market by 2022
  6. 6. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 6© 2017 Capgemini. All rights reserved. ‹#›Health Insurance Trends 2018 | December 2017 Health insurers are using RPA and AI to enhance operational efficiency and customer experience Source: Capgemini Financial Services Analysis, 2017; Applications of RPA and AI Health plan consulting Customer health management Claims management Streamlined policy application Agent empowerment
  7. 7. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 77© 2017 Capgemini. All rights reserved. ‹#›Health Insurance Trends 2018 | December 2017 Health insurers see strong potential in Blockchain for secure, transparent, and seamless services Source: Capgemini Financial Services Analysis, 2017; https://www.newswire.com/files/16/40/321b6089f1b01dfd80433bffb0df.pdf Patient data security Lower third-party dependencies Better availability of health records Increased process efficiencies 70% Proportion of surveyed health insurers that expect blockchain to be integrated into their systems
  8. 8. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 8© 2017 Capgemini. All rights reserved. ‹#›Health Insurance Trends 2018 | December 2017 APIs are enabling enhanced data management for healthcare players by connecting diverse systems Source: Capgemini Financial Services Analysis, 2017; Patient Eligibility Verification HIPAA Compliance Digital Claims Management Provider Directory Compliance Population Health Data Access
  9. 9. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 9© 2017 Capgemini. All rights reserved. ‹#›Health Insurance Trends 2018 | December 2017 Predictive and behavioral analytics enable better risk mitigation, fraud detection, and customer insights Source: Capgemini Financial Services Analysis, 2017; Predictive and Behavioral Analytics Targeted preventive care and customer engagement Anticipating future customer needs for personalized offerings, up- sell, and cross-sell Mitigating fraudulent behavior by checking for patterns and data analysis
  10. 10. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 10© 2017 Capgemini. All rights reserved. ‹#›Health Insurance Trends 2018 | December 2017 Shift to value-based payment model will open up new opportunities for analytics in healthcare Source: Capgemini Financial Services Analysis, 2017; Payer and Provider Collaboration
  11. 11. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 11© 2017 Capgemini. All rights reserved. ‹#›Health Insurance Trends 2018 | December 2017 InsurTech firms are creating a more streamlined, integrated, and digitized healthcare ecosystem Source: Capgemini Financial Services Analysis, 2017; Customers Providers Employers Brokers, Exchanges Payers Connect  Automated underwriting  Digital enrollments  Digital payments  Network integration  Data aggregation  Multiple technology integration Streamline
  12. 12. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 12© 2017 Capgemini. All rights reserved. ‹#›Health Insurance Trends 2018 | December 2017 Cloud is gradually becoming a key infrastructure component for health insurers Source: Capgemini Financial Services Analysis, 2017; Ability to manage real-time data sources Optimization of operating costs Efficient regulatory compliance Flexible computing resources Easier infrastructure management Anytime, anywhere access to data from multiple sources
  13. 13. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. With more than 190,000 people, Capgemini is present in over 40 countries and celebrates its 50th Anniversary year in 2017. A global leader in consulting, technology and outsourcing services, the Group reported 2016 global revenues of EUR 12.5 billion. Together with its clients, Capgemini creates and delivers business, technology and digital solutions that fit their needs, enabling them to achieve innovation and competitiveness. A deeply multicultural organization, Capgemini has developed its own way of working, the Collaborative Business Experience™, and draws on Rightshore®, its worldwide delivery model. About Capgemini Learn more about us at www.capgemini.com This message contains information that may be privileged or confidential and is the property of the Capgemini Group. Copyright © 2017 Capgemini. All rights reserved. Rightshore® is a trademark belonging to Capgemini. This message is intended only for the person to whom it is addressed. If you are not the intended recipient, you are not authorized to read, print, retain, copy, disseminate, distribute, or use this message or any part thereof. If you receive this message in error, please notify the sender immediately and delete all copies of this message.

×