Next generation of private health insurance – digital first and tailored to the individual
There is currently a complete shift from phone based care coordination to a digital first approach is well underway on the Swedish private health insurance market. We now see that our partners are looking to take their digital offerings to the next level and have identified four key trends that are shaping the next generation of digital health insurance.
Key trends shaping tomorrow’s private health insurance
Tailored customer experience – Several insurance offerings include a wide set of different services and the insurers are struggling with helping their customers find and use all relevant parts of the offering. This can be improved by creating a dynamic experience that adapts to the customer by presenting the right services to the right individual at the right time. Examples could be only showing certain services to a customer depending on the insurance plan and prompting the customer with reminders about vaccines and more. This would allow for improved precision in marketing of the insurance products, as well as improved customer experience.
Increased level of self-service and automation –Accessibility is an important selling point for private health insurance. As customers are getting more used to online services (via online banking etc.), the possibility of managing health insurance online via self-service tools is becoming increasingly important to attract and retain customers. Routing customers direct to physical care (without contact with care coordination) is being investigated by several insurance players. This would create an increased level of self-service, a coherent customer journey (since the customer can handle a wider set of errands through the insurers’ app) and at the same time off-load the care coordination. Key use cases include being able to manage bookings and re-scheduling online (for eCare as well as physical appointments).
Expanded portfolio of digital care providers and services– Digital care can be both cost effective for the insurers and a way to attract customers with increased accessibility to care. Insurers are looking at adding several different online care providers to broaden the digital service part of their offerings. In order to keep the customer journey intact, being able to integrate several different players to one platform is becoming increasingly important.
Increased focus on data & analytics connected to proactive service– Since the growth of private health insurance mainly comes from policies purchased by employers, solutions that can ensure employees are healthy and can perform at work is becoming increasingly important. Several insurers are investigating how to use analytics and data to show their customers how they prevent employees from falling ill.
Platform24 for the next generation of private health insurance
With these drivers in mind, Platform24 is developing the current insurance offering to support the next generation of private health insurance. This development is centered around what we call Digital Front-Door 2.0.
Digital front-door 2.0 for insurers
This is an integral part of Platform24’s roadmap and the focus is to create customer journeys that present the individual customers with services relevant to them. By combining user data, business data and health data together with personalization capabilities we have all required information to succeed with providing customers with a truly personalized experience. This also requires pooling together all services that are included in the insurance offering.
Platform24 sits at the center of the customer pathway, why collecting most services via the Platform24 front door offering is a natural extension of the user journey enabling seamless and attractive customer journey. Platform24 is also built to handle patient data and via Digital Front-Door 2.0, it can leverage that information to create an even more tailored, meaningful and automated health service to the customer. An example of a customer journey is depicted below, showing what a personalized experience could look like.
Figure 1: By combining the customers insurance plan and health data with the insurers business data, a truly personalized customer experience can be created with Digital Front-Door 2.0
Key use cases of Digital Front-Door 2.0 in an insurance setting include:
Bookings to “external” booking systems – In order to create a personalized experience and a coherent customer journey, the customers must be able to consume external services via the patient app. This includes being able to manage bookings (book, reschedule and get information about upcoming appointments).
Seamless transfer to the full provider network – A key part of Digital Front-Door 2.0 is pooling of services, including online care providers. As the eCare segment grows to include more relevant nisch players, integrations that allow for a seamless transfer to online appointments.
Self-service for physical care – By automatically rendering recommendations about resource type, customers can be routed directly to physical care without manual interaction with care coordination. In addition, automatic self care advice is an appreciated feature that not only offload care coordinators, but also renders a 100% cost reduction for every patient that is satisfied without a need for additional services.
Data and analytics to understand customer behavior and health – Building on the data collected from the customer journey, Platform24 can provide valuable insights on how the full set of insurance products are utilized by the customers.
We believe that the health insurance of tomorrow is digital-first, tailored to the individual customer and powered by smart tools that ensure cost effective operations by high precision in routing. Together with our partners, Platform24 is leading the way to the next generation of private health insurance.
Platform24 serves insurers across the Nordic region with a full-suite telehealth platform for private health insurance and holds a firm position as market leader in Sweden.