THOUGHT LEADERSHIP Sponsored by dacadoo
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Health Scoring and The Personalization of Risk
Digital health is here to stay – if that wasn’t already obvious at the beginning of 2020, COVID 19 has made us all painfully aware of this. Most health insurers have already invested substantially in a variety of digital health technologies over the last 10 years and are now aggressively adding to and improving their digital offerings. And Life Insurers also recognize that “It is imperative that you have a customer engagement strategy, and that engagement will be based on your customer’s health – you are now in the health business.”
Digital health has largely evolved organically – I’ll call this digital health 1.0. Insurers reacted to customer needs by developing or partnering with vendors to deliver a variety of technologies and apps to their members with the goal of providing more cost-efficient operations such as the diagnosis and treatment of many types of illnesses. During COVID the demand for telehealth has skyrocketed, leaving no doubt that digital is more than important – it is now considered essential.
1Why One Expert Says Digital Health and Wellness Services Are Here to Stay, Forbes, August 2020
2Tim Wallace, former CEO of iPipeline to the audience of 600 Life Insurance attendees at Connections, 2019
3The US national telehealth claims tracker reported over a 4,000% increase in June 2020 compared to June 2019. Source: https://www.fairhealth.org/states-by-the-numbers/telehealth
This white paper has been developed in conjunction with our Data Science team to bring to life the tangible outcomes our Health Scoring technology can bring to health care expenditure savings.
We also explore how new personalization efforts in life or health insurance can combine new technologies and correlative analysis techniques that leverage Big Data to deliver real-time customization of offerings, content, and customer experience at an individual level.
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dacadoo, named a 2021 “Cool Vendor in Insurance” by Gartner, licenses its Digital Health Engagement Platform, including its Health Score and Risk Engine to Life & Health insurance operators (B2B), supplying Insurtech and health-tech solutions to over 35 of the top 100 Life & Health insurance operators globally. Available in over 18 languages, dacadoo’s technology is provided as a fully branded, white label solution or it can be integrated into customers’ products through its API. Through its ‘Connect, Score, Engage’ offering, dacadoo supports Life & Health operators to motivate their clients to lead healthier lifestyles through its SaaS-based Digital Health Engagement Platform. dacadoo also provides its Risk Engine, which calculates relative risk on mortality and morbidity in real-time. dacadoo has over 120 employees across locations in Europe, North America and Asia-Pacific and over 100 filed patents around their digital Life & Health solutions. dacadoo is entirely committed to privacy and security, hence why it designs and operates its solutions in line with industry standards, laws and regulations such as the Swiss Federal Act on Data Protection, GDPR, and HIPAA. Its Information Security and Privacy Management System is certified according to world-renowned ISO 27001 and ISO 27701 standards.