Digital disruption in health insurance in 2020

April 22, 2020

Almost half of the world’s population own a smartphone in 2020. There was a time when smartphones were only used as a research tool before moving to desktop or traditional communication methods. That has changed and mobile devices are now used for all stages in the customer journey. 

When done well, omnichannel interactions are also improving the customer experience as users can complete tasks quickly, simply and on the move. Although the omnichannel transformation began in many industries years ago, health insurance has been somewhat slower to adapt. There is more chance one channel does not speak to another, for example having to start an application all over again over the phone when it was started online. Investment in seamless integration is required for a truly twenty first century experience. The return on investment is high. An increasing number of users prefer digital only interactions,  moving them away from call centres. 

Big data is becoming increasingly accessible to the health insurance industry. Across the world, but particularly in the USA, insurance companies are using non-medical attributes to assess a person’s potential medical needs. Although this may be useful at a macro level, more detailed data is needed so health insurance can obtain a better understanding of individual healthcare needs. There is also some concern around data security and the use of big data as a way to avoid insuring those with life styles that may mean they are higher risk
Data security is going to be increasingly important from a global perspective. In 2018, the General Data Protection Regulation (GDPR) was rolled out across EU member states limiting how businesses can use individual’s data. However, this is not the case in many other countries. 2020 may see protection legislation introduced in countries around the world to prevent their citizens data from being used without express consent. 

The digital transformation of the health insurance industry may increase concern amongst intermediaries and agents that they may not have a role to play, but this is not the case. There is still a lot of data out there to filter through. As always, intermediaries are there to help the consumer access it. However, it is important that your business is digitally transforming as much as possible so you can assess the best option for potential clients quickly and easily. It’s also vital that new clients can find you in the initial stages of their search. It is worth investing in a well optimised website and having a solid intermediary marketing plan to help potential customers find you easily. 


If you are looking for an international health insurance provider to partner with in 2020, please do get in touch. We offer a wide range of plans and digital services your omnichannel clients will love.