Everyone in the industry is talking about reimagining health insurance. How can this be done?
The healthcare sector has already been revolutionized by cutting-edge technology like artificial intelligence (AI), cloud computing, robotics, wearables, and telehealth systems. The COVID-19 pandemic accelerated the adoption and implementation of these as a ‘must’ rather than a ‘should’. With AI, health insurance is experiencing increased productivity, customized targeted insurance policies to the right customers, and the ability to identify fraud risks and claims more accurately and efficiently. Using technology and data to speed up not only the sales process but improve customer satisfaction and significantly reduce risk is now fundamental for the future needs of the health insurance sector.
Which factors help close the health insurance gap? Is it time for traditional health insurers to change how they operate? What are the more advantageous insurance options for mental health care? Is health insurance making progress in its goal of serving as a “Promoter of Wellness”? How can the industry serve the ageing population affordably? Is public-private partnership a viable solution?
The insurance industry has had to modify itself to keep in line with the changes the COVID-19 pandemic brought…and fast. The ‘one policy fits all’ standard is now a thing of the past.
In its 18th year, this conference will aim to offer a slew of information and potential solutions to address the region’s health insurance challenges. Insurers need to modify their business strategies immediately for sustainability and profitability. Changes in health insurance have highlighted issues such as the need for better coverage, innovative products, addressing mental health issues, and an all-rounded wellness approach for both the healthcare and insurance industry.