The Brief / Insurance
advancement and investment taking place in just over a year. So, what does this mean for insurers, and more importantly, for customers?
ILLUSTRATION: GETTY IMAGES/PRETTYVECTORS
ACCELERATED ADOPTION OF DIGITAL HEALTH SERVICES
COMMENT
Dean Pollard General manager of Bupa Global Africa, India and Middle East
Lens of change How a year of transformation is affecting both insurers and customers
T
he Covid-19 pandemic and resulting knock-on effect saw a shift in consumer behaviour, with many industries reacting to the evolving needs of customers overnight. While 2020 was all about disruption, 2021 has been a year of transition – one in which we are beginning to shape our future instead of reacting to the present. This transition has been ubiquitous, spanning several sectors as they experience tremendous changes in their digital offerings and customer demands. The insurance industry in particular has seen a shift that will have a compelling effect on healthcare, as health and wellbeing is now at the centre of our attention like never before. The global pandemic has made health one of the most pressing topics on the world’s agenda and a top priority for many. What we have experienced is an acceleration of healthcare innovation, with significant digital
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Remote health has established itself as the new norm as the UAE saw a 500 per cent overall increase in digital health utilisation between March and September 2020 compared to the same period the year before. As technology continues to become mainstream in healthcare, more than 50 per cent of hospitals in the UAE are using IoT-based solutions which allow the automation of daily tasks and enable effective monitoring and control of connected medical devices. Digital health has not only offered convenient access to medical services remotely, but it also has the potential to replace traditional hospital visits in the future as it reduces the strain on the healthcare system. The pandemic also drove us to put new technologies into practice by providing more integrated solutions such as wearables, big data, and AI. Integration allows us to improve our abilities in providing patient care, for example remotely monitoring patients, even after they are discharged. Importantly, digital health offers convenient access to mental health services with utmost privacy. A survey conducted by Bupa Global at the end of 2020 found that mental health challenges were significantly higher in the UAE compared to the rest of the world. More than a quarter (28 per cent) complained of burnouts, compared to 17 per cent globally, while 21 per cent experienced obsessive or compulsive thoughts, compared to 10 per cent globally. The rapid adoption of digital health proved to be a major success as part of the UAE’s response to providing safe and socially distant interactions for both clinicians and patients. This model reduces costs across the healthcare ecosystem, from patients to insurers and providers. LEVERAGING AI TO IMPROVE CLAIMS MANAGEMENT
As healthcare costs continue to surge with demographic shifts and rise in chronic conditions, insurers are under pressure to manage claims processes efficiently and reduce administrative costs. Customers have made it clear that they will stay with insurance providers who offer seamless services and flexible coverage options. WELLNESS INITIATIVES AND PARTNERSHIPS
The lockdowns forced people to stay indoors for most of last year, leading to lower physical activity, isolation leading to loneliness, and other mental health August 2021
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