Digital technology is transforming health and insurance through better data collection and analytics, allowing for more personalized care and prevention-focused models. By 2030, universal health app usage and individual health data passports will shift control to consumers. Insurers are responding by partnering across the emerging healthcare value chain, from providers to medtech and fintech firms, to empower policyholders and address the growing burden of chronic diseases in Asia through wellness and long-term management programs. This digital shift promises improved health outcomes through prevention over the traditional indemnification model.

1. Hugh Terry, The Digital Insurer
Prayat Shah, Wellthy Therapeutics
Tuesday ,30th July 2019, Singapore
Digital + Health + Insurance = Better health outcomes
This presentation

2. Digital + Health + Insurance
= Better Health Outcomes

5. Stunning Progress on longevity

7. …Matched by strides in living standards

8. Middle class to dominate
Source : Projection by World Data Lab reported in The Times September 2018
NOW 2030

9. Success leads to new problems
– lifestyle & longevity diseases

10. Digital + Health + Insurance
= Better Health Outcomes

11. Mankind is on a digital journey
“ Cars are our feet
Calculators are our minds
Google is our memory.
Our lives NOW are only partly biological
with no clear split between the organic and
technological, the carbon and the silicon.
We may not know yet where we are going
But we’ve already left where we have been.
”
Source : Closing remarks by DT Max in National Geographic feature, “The Next Human
– taking evolution into our own hands” April 2017

12. Digital adoption well underway in healthcare

13. Patient power is building as adoption increases
“by 2030 use of health apps will be almost universal”

14. Big Tech is delivering

15. Health and insurance services
Digital First changes healthcare and insurance
Digital search
• Doctors and agents
have lost their
position as ‘sole
gatekeepers’ of
knowledge in their
respective domains
• Consumers will have
more control

16. Digital First Business Models reshape industries
Why should healthcare be any different?

17. Health and insurance services
Digital is the macro trend in health insurance
MORE DATA + DATA ANALYTICS + ACTIONABLE INSIGHTS
=
HEALTHCARE TRANSFORMATION
“We will all have health data passports by 2030.
Our personal health data will be more important than our financial data.
Data is the change agent for the healthcare industry”

18. Digital + Health + Insurance
= Better Health Outcomes

20. Chronic Conditions drive health protection gap in Asia
Source: Swiss Re Asia Health Protection Gap Report October 2018 (16,000 households in 12 markets in Asia)

21. Affordability is a key challenge
Business as usual
Is a broken model

22. The cure: Indemnification to Prevention.
A partnership between insurers and consumers

23. Emerging healthcare value chain in a digital world
“a healthcare data exchange will be the enablng
custodian and exchange centre of healthcare data for all
stakeholders.
The healthcare
consumer
My Health Passport
Health care
delivery
Integrated healthcare delivery
Clinics &
Doctors
Hospitals
Personalized
medicine
Med &
Well ness
tech
Fin Tech /
InsurTech
Financiers &
Risk managers
A network of risk managers and healthcare financiers
Insurance
companies
State i.e. tax
Family & Out
of Pocket
NGO Gift aid
My health
data
My financial
cover
My “doc
bot”
My specialist
health team
My wellness
team
Healthcare Data
Exchange
Data Store
Analytics
Algorithms
Insights

24. Partnership models dominate
Partnerships
Will any life insurer be able to ignore health ecosysytems?

25. Doc Prime– The Good Doctor for India?
Source: Economic Times of India , February 2019
Journey so far: 1 million site visitors

26. Nic Nicandrou, CEO Prudential Corporation Asia, August 2018
Insurers moving up the value chain
Source: https://www.prudential.co.uk/news/news-releases/2018/02-08-2018
“We are significantly expanding our role from protection to encompass the prevention
and postponement of adverse health events.
By empowering customers with self-help tools and real-time health information, we
believe the Babylon-enabled platform will inspire them to take an active role in
understanding and managing their current and future health needs.”

27. Reuters, September 2018
Insurers moving up the value chain

28. “If you look at the global healthcare market,
which is worth about $10 trillion, there are
huge tech-enabled savings to be made in areas
such as wellness and long-term disease
management. “
Source : Ali Parsa, founder, Babylon, The Times UK, 20/9/18
Digital + Health + Insurance
= Better Health Outcomes

29. www.the-digital-insurer.com
Working together to accelerate the digital transformation of insurance