EXPLORING DIGITAL OPPORTUNITIES IN CONSUMER HEALTHCARE Asia Conference 2017/04... · EXPLORING...
Transcript of EXPLORING DIGITAL OPPORTUNITIES IN CONSUMER HEALTHCARE Asia Conference 2017/04... · EXPLORING...
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EXPLORING DIGITAL OPPORTUNITIES IN CONSUMER HEALTHCARE
Justin HAREB, Regional Director, Regional Health and Employee Benefits (AXA Asia)
Hong Kong Society of Actuaries , Hong Kong
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What’s going on out there? Market forces at play
Digital levers & case studies
Q & A
Agenda
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THE WISHING TREE…
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(1) I am concerned about the amount I
would have to pay out my own pocket for
medical expenses relating to major
illness
(2) I am concerned my medical/health
insurance premium will increase
beyond my affordability in the future
People in Asia are Concerned about their Health and associated costs
Source: SwissRe Risk Appetite Survey
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Disruptive News?
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Trends Supporting Health
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“Infection” (antibiotics)
Detection & Diagnosis of
disease (multiple
disciplines)
1. Genetics
2. Biotech/ stem cell
3. Devices incl. Nanotech
(proteins and mechanics)
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CUSTOMERS ARE SHAPING THE BUSINESS
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New Participants…
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Insurance Is The Next Frontier for Fintech
Fintech & Innovative new companies are forcing
Traditional Insurers to think Out of the box
Health Insurer- aims to
use technology and
design to improve the
experience
Integrated Medical
Provider
+ ?
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So, how to move from a Payer of medical bills to
Partner in the health of our Customers?
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Digital Levers
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REGULATORY
ENVIRONMENT
IT PLATFORMS
WELLBEING
CUSTOMER
EXPERIENCE
DATA
(eg, UW, FWA)
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Regulatory Environment – Opportunity And Threat
10 | Image Credit: Shel Silverstein's cartoon of the 1950s, featured on the cover of his cartoon collection book, Now Here's My Plan: A Book of Futilities, which was published by Simon & Schuster in 1960
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CX example 1 – Mobile is King (HCP)
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Find a
Doctor
Policy
EnquirySubmit a
ClaimClaims
Enquiry
e-Medical
Card
AXA
Group
Asset
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CX case study cont. - AXA DocConnect
AXA Health app to Video Consultation
Customer accesses DocConnect directly or via myAXAhealth
Customer can message or call
AXA team directly through app
AXA team answer claim/policy
queries, issue LOG, or offer Video Consultation
If medical enquiry, Video Consultation
with panel GP is scheduled
User will receive reminder 5 minutes before consultation
time
Acknowledged
within 30 seconds
Appointment
within 30 mins - 1
hour
Consultation to
last up to 15 mins
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“Wellness” – what is the biz case?
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Wellness case study 1 – ‘LIFE ON TRAC’ Ecosystem
Life on Trac
LOCATE & TRACK FITNESS HEALTH HOME AUTO PANIC BUTTON
• Track family &
friends in
emergencies
• Send panic alerts
• Sync wearable
devices
• Set activity goals
• Search for Doctors
• Content to engage
• Services for
household
emergencies
• Roadside assistance • Standalone panic
button displayed on
phone home screen
CARECustomer Bharti AXA
A Recurrent Need
Complement Our Product Lines
Life on Trac
LoT – Offerings & Partners
Google Maps Fitbit Practo UBER StrandDUrban Clap
Partners
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Wellness case study 2: ‘Xtra’ app.
Get 24/7 personal digital coaching with wellness motivator
Complete challenges to earn points and
redeem great rewards
Your fitness and health dashboard easily
accessible and visible
Consult more than 150 wellness articles and
fitness videos
A free on demand personal coaching mobile that rewards for living a healthy lifestyle
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Wellness case study 3: ‘The CareVoice’
First Medical & Health Insurance Experience APP
exclusively for High-end Medical Insurance customers in China
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Data…
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“The percentage of fraudulent claims in China is around 6%”
# 2015 figures
* Based on informal discussions with our counterparts in the industry, while scope and success remains inconsistent, they have the following “internal regional targets” for Asia
Non-traditional players?
PDP issues – what can we offer in return?
New UW models? “Continuous” UW?
Health Insurance Fraud Whitepaper, Peking University, China
“Healthcare fraud and abuse in Asia is in the range of 6% to 20%”Deloitte Whitepaper on Insurance fraud
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Q&A
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Thank You
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