Responsible Employer

Smart Health: the revolution underway

As innovation meets increased interest in wellness, health tech becomes the next big thing in the insurance industry

We are living in a world that is evolving at a tremendous speed. Recently developed technologies become outdated in a few years and both our lifestyles and the way we communicate change rapidly, not only as a consequence of the COVID-19 pandemic. In addition, the omnipresence of smartphones, internet and the Internet of Things that already characterizes our jobs is also bursting into our private lives. Among the questions arising from these trends is the following: “How does this development influence the healthcare sector?”

The development of smart solutions has already had an impact in different areas, with significant implications in the healthcare sector. For example, the number of hospitals and consulting rooms providing digital medical reports and x-rays to their customers is increasing. As digitalization proceeds, it can be assumed that all clinical results will soon be stored in a digital format, which guarantees access to medical records for both patients and doctors at any time and prevents double diagnosing as well as delays in starting the right therapy.

Another example is that of new technologies like Computer Aided Diagnostics (CADx) and Clinical Decision Support Systems (CDSS) that help physicians analyse x-rays and computer tomography images or even suggest the most suitable therapy. In addition, medical devices can be connected and deliver constant flows of data such as blood sugar levels or blood pressure, contributing to the prevention of diseases such as diabetes and helping to save costs.

Insurers are tapping into the huge potential of these new technologies. They enable insurers to gather insights and data and, as a result, propose more customized and high value added solutions. The increasingly important role that technology and data has in the insurance sector is also changing the way in which products are designed.

When it comes to technology and digitalization, especially with a view to protecting customer health and wellbeing, Generali offers simple, smart and digital solutions such as programmes that collect and process data through wearables, in compliance with the EU General Data Protection Regulation, to show the positive effects of consistent training and motivate people to maintain it in order to prevent cardiovascular diseases. Furthermore, data from Apps and smartphones can be used to monitor the onset and development of conditions such as depression, speeding up the diagnosis at an early stage and offering appropriate therapies, even remotely. Generali has also already developed several offers that include symptom checkers, tele consultation and tele medicine services for both companies and individuals, particularly useful and appreciated especially during the Covid-19 crisis, which further speeded up the Group’s assistance proposition in terms of Innovation and Digital Transformation.

To raise awareness on the importance of wellness and promote the adoption of these new technologies across the whole Group, Generali launched the Smart Health Community of Practice. It seeks to develop, share and promote innovative smart solutions along the value chain of health business with a focus on smart services and products, aiming at increasing customer wellbeing, safety and the number of touchpoints with Generali. The Community’s activities are driven by daily business as well as developments in the health sector, in line with the Innovation and Digital Transformation pillar of the Generali 2021 strategy on which the Group leverages to achieve the ambition to become Lifetime Partner to its customers.

Health tech innovation is fundamental to better understand and meet customers’ needs, promote prevention and support treatment whenever needed, and with the outbreak of the COVID-19 pandemic yet more challenges have emerged. Leveraging on the Smart Health Community of Practice’s expertise and on the Group’s experience in the field of Digital Transformation, Generali pursues its commitment to increase the quality of care as well as reduce both costs and the need to resort to medical treatment through prevention by encouraging, on the one hand, a healthy and sustainable lifestyle, and contributing, on the other hand, to the development of early diagnosis and care methods.