Insurtech vs. Traditional Insurance: Why the Old Guard is Fading Fast
Insurtech is not just making waves in the insurance industry—it’s rewriting the rulebook. As technology-driven startups disrupt …
Being on par with the digital era is possible only by adopting emerging technology. To adapt, one must be ready to let go of the traditional business methodology. The US health market spends trillions on healthcare every year. Patients want health care at their convenience in this pandemic and also because of the busy schedule. More than 50% of browsing in the world is conducted on mobile. Hence the content marketing targets the consumers who are frequent users of a smartphone. Concerning health care, people frequently browse the internet to search either for a doctor or book an appointment. The browser has become an online marketplace.
Big data also provides the details collated from various digital platforms and even browsers. Big data helps to analyze the future dates of patient visits and accordingly make the hospitals’ necessary arrangements. As a result, the patient will not have to wait and instead will immediately attend to a preliminary plan. What can control emergency room overcrowding in this pandemic to a greater extent? Recurring patients are identified from the big data analysis and so we can take the necessary measures. Any discrepancy between patient health and the prescription can be immediately identified and rectified. Big data also analyses the drug demand and the projected market for the drug. Who can plan the budget and the marketing strategies for the medicine accordingly? Like the pharmaceuticals, the health care industry can use big data and analyze the typical illness in geographical distribution. Based on the analysis, the company can be ready for the next outbreak of common disease with sufficient drugs available in the market.
Virtual reality is another boon for health care. In this pandemic, VR has resolved the major issues concerned with pain, anxiety, stress, stroke, and much more. VR headsets also help autistic patients to experience the real world. VR also paves the way to plan complicated surgery. In the digital world, people plan more about prevention and self-care than going for frequent check-ups. People these days prefer wearables so that they remain fit and monitor their routine and essential health. Wearable health device in a year or two is going to be a boom in the market. The health care market already has huge competition concerning wearables from different brands, coming up with new features. Heart rate sensors, oximeter, sweat sensors are must in the wearables
Insurtech is not just making waves in the insurance industry—it’s rewriting the rulebook. As technology-driven startups disrupt …
When managing finances, the dreaded spreadsheet has long been a necessary evil. Hours spent painstakingly inputting …
Insurtech—once a niche buzzword—has become a driving force in one of the world’s oldest industries: insurance. But what does this …
In today’s fast-paced business world, managing finances effectively is crucial for success. Whether a small business owner or …