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Alexa Health skills als Versicherungsleistung

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Alexa Health skills als Versicherungsleistung

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Alexa Health skills als Versicherungsleistung

  1. 1. Shaping the Digital Future Alexa Health Skills - New chance to satisfy and monetize the digital demands in healthcare of Generation Y August 2018
  2. 2. 2 Generation Y challenges health insurances with their technology affinity and high desire for individualization, both regarding healthcare and insurance topics. Customer desiresCustomer habits ‘For the vast majority of Generation Y it is absolutely normal to search for references online – the search for healthcare topics is the logical consequence.’ Nuance Communication ‘Individualization is one of the biggest mega trends.’ Trend researcher Prof. Peter Wippermann 54 % of Generation Y initially use the internet for healthcare questions 37 % of Generation Y have already booked an insurance service online 67 % of Generation Y desire personal advice for complex topics like health insurance services 50 % of Generation Y would provide personal data, so that products are 100 % individualized Analysis of Generation Y customers Source: Mücke, Sturm & Company; World Insurance Report 2016; Nuance Communications; Bain & Company; Microsoft Trendstudie; QVC Zukunftsstudie; Springer Professional
  3. 3. 3 To meet the changing customer expectations, health insurances offer digital services along the health value chain; they concentrate on Treatment & Monitoring. Source: Mücke, Sturm & Company; 1 Exemplary digital services of 42 analyzed digital services by MSC; 2 Public health insurances only; 3 Private health insurances only; 4 The 13 analyzed public insurances offer in total 7 digital services in the area administration. Digital insurance services – German market overview Prevention ▪ Administration ▪ Electronic Health Card 2 ▪ Invoice app 3 ▪ Live chats ▪ Electronic patient record ▪ … ▪ Stress/Well-being support ▪ Fitness program ▪ Diet ▪ Vaccinations ▪ Digital bonus program ▪ … ▪ Addiction ▪ Back pain ▪ Sleeping disorder ▪ Medication management ▪ Diabetes ▪ … 17 % 4 5 % 22 % 56 % Administration Diagnosis Treatment & Monitoring ▪ Second expert opinion ▪ Symptom checker ▪ Health information 21 % 10 %21 % 48 % Public Private Exemplary digital services1 Focal points of insurances
  4. 4. 4 TK and AXA provide the most digital services; on average, the public health insurances offer 6 digital services more than their private peers. 24 17 17 14 14 13 12 12 11 10 8 6 6 Number of digital 1 service categories 2 (private) 27 24 22 21 21 19 19 17 17 15 14 13 11 Number of digital 1 service categories 2 (public) Ø18 Ø13 Digital insurance service categories of public and private health insurances Source: Mücke, Sturm & Company; MSC study ‘Der Wandel der Krankenversicherungen vom Kostenerstatter zum ganzheitlichen Gesundheitsdienstleister’, June 2018; 1 Accessible using any digital device incl. smartphone, tablet, laptop, computer, digital assistant, smartwatch; 2 Categories can encompass several, single services e.g. the category vaccination can include the digital vaccination pass and reminders for vaccination check-up
  5. 5. 5 Health insurances should reflect upon the emerging trend of digital assistants and consider the potential to create new touchpoints, especially with Generation Y. Digital assistants as a new digital trend Available digital assistants Growing importance of digital assistants Generation Y as the most prolific customer group Source: Mücke, Sturm & Company; Company information; 1Tractica 2017; 2 Business Insider 2017 Home Assistant Eigener Assistent Eigener Assistent Home Assistant Eigener Assistent Home Assistant Home Assistant Eigener Assistent Home Assistant Eigener Assistent Revenue of digital assistants sold to end consumers 1 (in million US$, worldwide) # Users of digital assistants 1 (in million, worldwide) 390 504 710 2015 2016 2017* 2018* 2019* 2020* 2021* Usage of voice-based assistants2 (worldwide) 31% 23% 14% 7% 20% 15% 13% 8% 33% 32% 35% 35% 16% 30% 38% 50% Yes, regularly. Yes, lately. No, but interested. No and not interested. 18 105 689 2015 2016 2017* 2018* 2019* 2020* 2021* 2,260 5,314 8,728 11,861 1,016 1,376 1,642 1,831
  6. 6. 6 Amazon currently leads this market. They have created an extensive platform with their assistant Amazon Alexa which also offers applications on healthcare matters. Amazon dominates the digital assistant market of German consumers are aware of Amazon Alexa of German consumers already use their own Amazon Alexa device 78 % 37 % Amazon Alexa as one digital assistant Amazon Alexa is currently usable on five devices 1 Echo (99.99 €) Echo Show (219.99 €) Echo Dot (59.99 €) Echo Spot (99.99 €) Echo Plus (149.99 €) Source: Mücke, Sturm & Company; Amazon; Statista; OMR; PWC; Strategy Analytics; 1 Availability in Germany as of June 2018 Free Alexa Skills in the area of healthcare Exemplaryskills Psychological advice Support for chronical diseases Patient security in mycare clinics BMI calculation Hardware Questions on medication The first Alexa device was launched for the German market in 2016 91,7% 6,7% 71,3% 14,7% 2016 2017 Worldwide smart speaker market share Amazon Alexa Google Home Other Hardware with the pre-installed digital assistant Alexa
  7. 7. 7 Source: Mücke, Sturm & Company TK Smart Relax Skill Barmer Alexa Skill Schlafenszeit Axa Biowetter Allianz Allianz Beratung Allianz Rentenscore ‘Alexa, ask Schlafenszeit which sleeping aids are available!’ ‘Alexa, open Smart Relax and start a Cool down!’ ‘Alexa, start Biowetter!’ ‘Alexa, ask Allianz where the next consultant is located!’ ‘Alexa, start Allianz Beratung!’ ‘Alexa, ask Allianz Rente what dynamic means!’ Options to relax e.g. meditation Options to fall asleep better e.g. soft music Weather information e.g. pollen dispersal Information about the Allianz e.g. nearby consultants or offers Questions for customers on 12 topics to prepare the consultant for the meeting Calculation of a desired pension amount Health insurances are slowly adapting to the new trend of digital assistants. TK and Barmer as public and AXA and Allianz as private insurances offer Alexa skills. Current Alexa skills offered by German health insurances PublicinsurancesPrivateinsurances Skill name Exemplary customer instructions/questions Skill DescriptionInsurance
  8. 8. 8 Yes, certainly. Yes, probably. I'm not sure. No, probably not. No, certainly not. Source: Mücke, Sturm & Company; MSC study ‘Alexa Health Skills – Die neue Kassenleistung für Generation Y?; June 2018; Note:Ranking based on the sum of the answers ‘Yes, certainly.’ and ‘Yes, probably.’ to the question ‘Would you use the following health skills?’; 1 Reminder: medication intake of a relative 50 % Unfortunately, the majority of the health skills which insurances currently offer are not attractive to Generation Y as a recent survey by MSC shows. Desired Alexa skills by Generation Y compared to skills offered by German health insurances Healthskills byinsurances Skillsdemandedby GenerationY
  9. 9. 9 Specifically, the MSC survey suggests that Generation Y desires simple organizational and individual health skills such as reminder of check-ups or diet tips. Desired Alexa skills by Generation Y – Deep dive Source: Mücke, Sturm & Company; 1 Agreement: the sum of the answers ‘Yes, certainly.’ and ‘Yes, probably.’; 2 Exemplary skills of 33 skills analyzed by MSC Simple organizational skills with low customer consequences Individual health skills which enable the customer to actively influence their health status General, publicly accessible information skills and complex organizational skills with high customer consequences 71 – 44 % agreement 1 44 - 32 % agreement 30 – 8 % agreement ▪ Emergency pharmacies ▪ Reminder of doctors‘ appointments ▪ Reminder of check-ups ▪ Food information ▪ … ▪ Symptom checker ▪ Mental fitness exercises ▪ Diet tips ▪ Illness encyclopedia ▪ … ▪ Pollen dispersal info ▪ Air pollution info ▪ UV degradation info ▪ Sleeping aid ▪ … ▪ Booking extra insurance services ▪ Advice on contract improvements ▪ … Exemplary skills2 Would you use the following skill provided by your health insurance?
  10. 10. 10 Nevertheless, offering the skills which Generation Y expects can be profitable; they would pay up to 17 € per month for a Premium + Alexa option. Basic option Basic option + Alexa 1 Premium option Premium option + Alexa 1 Average price 3.47 €/month 5.79 €/month 14.81 €/month 17.33 €/month 100 % 100 % 100 % 100 % 37 % 48 % 26 % 35 % Maximum ability to pay Ability to pay of questioned Generation Y Ability to pay for desired Alexa skills Source: Mücke, Sturm & Company; 1 This option also includes an Alexa device e.g. Amazon Echo. Option with the highest sales potential Option with the potential to create the most customer touchpoints Exemplary skills General fitness exercises, Sleeping aid, Mental fitness, Illness encyclopedia, Food information, Symptom checker, Reminders e.g. check-up … Personal fitness exercises, Online-video doctors‘ appointment, Individual information for treatment, Personal diet tips, Meditation, Information on vital measures…
  11. 11. 11 By providing Alexa skills, health insurances can increase customer satisfaction, improve efficiency and gain new insights through additional customer touchpoints. Source: Mücke, Sturm & Company Y Advantages for health insurances Increase of customer satisfaction Increase of efficiency Generation of new customer insights Simplified access Direct communication channel Attraction for tech-affine customers Customer empowerment Reduced internal administration costs Reduced treatment costs Reduced workload for employees, enhancing overall efficiency Personalized health insurance offers Input to product design and risk calculation Marketing input to target new customers Creation of a new customer touchpoint
  12. 12. 12 Mücke, Sturm & Company would like to get in touch with you to discuss the design and implementation options of health skill to expand your service portfolio. Headoffice Munich Theresienhöhe 12 80339 Munich Germany T +49 89 461399 0 F +49 89 461399 777 www.muecke-sturm.de Michael Mücke Managing Partner at Mücke, Sturm & Company We can support you with topics like… s ▪ Which Alexa skills should health insurances provide? ▪ How can skills increase your customer satisfaction? ▪ How can skills generate additional revenue? ▪ Which new market segments become accessible through the implementation of skills? ▪ What hurdles should you expect when implementing skills as a new insurance service? ▪ Which additional customer touchpoints can you address by offering skills? ▪ How can you generate leads via skills?
  13. 13. 13 Copyright This document is intended for personal use only. Distribution is only permitted without any changes or omissions – publication, in whole or in parts, requires prior written consent by MÜCKE, STURM & COMPANY and correct citation of sources. All mentioned company names, logos, brands, brand symbols and other copyrighted material are the sole properties of the respective company; they are only used for illustrative purposes.
  14. 14. 14Source: Mücke, Sturm & Company TK Smart Relax Skill Barmer Alexa Skill Schlafenszeit Axa Biowetter Allianz Allianz Beratung Allianz Rentenscore ‘Alexa, start Schlafenszeit!’ ‘Alexa, open Smart Relax!’ ABC ABC ABC ABC Options to relax e.g. meditation Options to fall asleep better e.g. soft music Weather information e.g. pollen dispersal Info on the Allianz as a private health insurance Specific advice on Allianz insurance offers Calculation of a desired pension amount ‘Would you like to listen to the Playlist Klangwelten?’ ‘Would you like to start a meditation? ABC ABC ABC ABC Health insurances are slowly emerging into this new segment. The TK and Barmer as public and the AXA and Allianz as private insurances offer Alexa skills. (version 2) New delivery channel of digital insurance services
  15. 15. 15 To meet the changing customer expectations, insurances offer digital services along the health value chain; they are concentrated on Treatment & Monitoring. (v2) Source: Mücke, Sturm & Company; 1 Exemplary services of 42 analyzed services by MSC; 2 Public insurances only; 3 Private insurances only Digital insurance services – Overview per value chain area and insurance system Prevention ▪ Administration ▪ Electronic Health Card 2 ▪ Calculation app 3 ▪ Live chats ▪ Electronic patient record ▪ … ▪ Stress/Well-being support ▪ Fitness program ▪ Diet ▪ Vaccinations ▪ Digital bonus program ▪ … ▪ Addiction ▪ Back pain ▪ Sleeping disorder ▪ Medication management ▪ Diabetes ▪ … Administration Diagnosis Treatment & Monitoring ▪ Second expert opinion ▪ Symptom checker ▪ Health information Public insurances Private insurances Exemplary services1 Total amount 7 9 3 23 7 9 2 23 7 7 3 16
  16. 16. 16 Amazon currently leads this market. They have created an extensive platform with their devices which also offers applications on healthcare matters. Amazon dominates the digital assistant market of German consumers are aware of Amazon Alexa of German consumers already use their own Amazon Alexa device 78 % 37 % Amazon Alexa as one digital assistant Amazon Alexa is currently usable on five devices 1 Echo (99.99 €) Echo Show (219.99 €) Echo Dot (59.99 €) Echo Spot (99.99 €) Echo Plus (149.99 €) Source: Mücke, Sturm & Company; Amazon; Statista; OMR; PWC; Strategy Analytics; 1 Availability in Germany as of June 2018 Alexa skills can be downloaded from the Alexa Skills Store for free. They also address healthcare topics. Exemplaryskills Psychological advice Support for chronical diseases Patient security in mycare clinics BMI calculation Hardware Questions on medication The first Alexa device was launched for the German market in 2016 4,1 9,7 0,4 6,7 0 10 Q4 2016 Q4 2017 Worldwide smart speaker shipments (million units) Amazon Google Other
  17. 17. 17 Nevertheless, offering the skills which Generation Y expects can be profitable; they would pay up to 17 € per month for a Premium + Alexa option. (version 1) Basic option Basic option + Alexa Premium option Premium option + Alexa Average price 3.47 €/month 5.79 €/month 14.81 €/month 17.33 €/month 100 % 100 % 100 % 100 % 37 % 48 % 26 % 35 % Maximum ability to pay Ability to pay of questioned generation Y Ability to pay for desired Alexa skills Source: Mücke, Sturm & Company Option with the potential to create the most consumer touchpoints Option with the highest sales potential Basic options Premium options ▪ Personal fitness exercises ▪ Online-video doctors‘ appointment ▪ Individual information for treatment ▪ … Exemplary skills ▪ General fitness exercises ▪ Sleeping aid ▪ Mental fitness ▪ …

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