01 Feb IoT in commercial insurance lines: Secure first-mover advantage in this huge, untapped market
DigitalTech – the company that develops and manages mobile platforms –after successfully launching Consiglio dal Medico, the first App which allows customers to interact with a network of physicians, is now expanding its activities to include a broader range of medical and wellbeing services.
Leveraging this remote health advice solution, the start-up has built HealthFront, a modular mobile platform which allows Insurance Companies to deliver wellness as well as healthcare services using the proprietary technology developed by MR&D, a company specialized in the design, engineering and manufacturing of innovative devices which has created over 100 patents in the last 15 years.
On October 8th 2015, in the occasion of the Bancassicurazione (Bancassurance) Forum organized by ABI, the Italian Banking Association, the partnership between DigitalTech and MR&D was announced. Such partnership will bring certified technology for connected health alongside a seamless mobile customer experience to Insurance Companies.
These features are now on top of the agenda of the insurance sector because they are becoming key to deliver effective customer relationships. This is also proven by a recent statistics which shows that smartphone owners spend on average 3 hours per day using their phones by doing, repeatedly, short-length activities.
This innovative insurance approach has been developed with an eye at the success story of New-York based insurance company Oscar. Google has recently invested over 30 million US dollars in Oscar, bringing its value up to almost 2 billion.
Nowadays, DigitalTech value proposition as an innovation enabler for all Insurance Companies that wish to adopt the innovative model implemented by Oscar is something unique. In fact, Healthfront is a white-label mobile modular platform able to integrate in a single mobile user experience existing platforms alongside the most adopted wearable devices on the market.
The project has global ambitions and operations are being established in SE Asia to support international expansion.
HealthFront provides a “pocket” health solution able to constantly monitor each individual’s health state and enjoy services on one’s phone at a time of convenience. This allows Insurers to provide to their customers a comprehensive wellbeing ecosystem.