As I don’t have the mail, I put one idea about consumption model… one thing that strikes me with insurance is the little transparency about cost / benefit. I mean obviously to make money you need people which brings more money than expense , but as consumer we take insurance with the best ratio in terms of risk / benefit / cost. So giving me some stats on that might give me more trust (transparency on the system) and / or that open ways to generating more consumption (ex : if you tell me that the risk of dental implant at 40 is XX so for x€ I cover the risk, I might take the option which I wouldn’t have otherwise)…. To be refined but You get the idea
Fascinating point - Insurers have always strayed away from this kind of messaging because its difficult to translate risk and probabilities to the policyholder.
On a related point - in South African health insurance we've been actively engaging with members to go for certain health services or treatments based on predictive modelling, because we know that they have better health outcomes later on in life. Would you go for a treatment if an app or insurer encouraged you to go?
I don’t know for sure because so many parameters enter into the final decision including Time of the offer, UX, content etc… other than just the probability calculation but it’s worth trying. At least it’s a differentiator …
As I don’t have the mail, I put one idea about consumption model… one thing that strikes me with insurance is the little transparency about cost / benefit. I mean obviously to make money you need people which brings more money than expense , but as consumer we take insurance with the best ratio in terms of risk / benefit / cost. So giving me some stats on that might give me more trust (transparency on the system) and / or that open ways to generating more consumption (ex : if you tell me that the risk of dental implant at 40 is XX so for x€ I cover the risk, I might take the option which I wouldn’t have otherwise)…. To be refined but You get the idea
Fascinating point - Insurers have always strayed away from this kind of messaging because its difficult to translate risk and probabilities to the policyholder.
On a related point - in South African health insurance we've been actively engaging with members to go for certain health services or treatments based on predictive modelling, because we know that they have better health outcomes later on in life. Would you go for a treatment if an app or insurer encouraged you to go?
I don’t know for sure because so many parameters enter into the final decision including Time of the offer, UX, content etc… other than just the probability calculation but it’s worth trying. At least it’s a differentiator …