Sonr Global’s most recent Insurtech Briefing (Q4 2021) shows just how much our industry is changing from year to year – and even quarter to quarter. In Q4, the healthtech sector led the way, with 41% of investments placed in companies that are actively helping people around the world lead healthier lives.
Healthtech apps focus on critical improvements in access to care, promote wellness, mental health, and eldercare. These are all topics that have recently been explored by our team as well:
- Life Insurance Trends to Watch in 2022: Wellness, Eldercare & Genetics
- Is Precision Medicine Shaping the Future of Wellness-Based Insurance Products?
- Using Technology to Transform Support for Mental Health and Addiction
- The Future of Healthcare: Eldercare
As expected, wearables and smart devices also warranted coverage. Carriers are leveraging new devices and apps to help their policyholders live healthier and more fulfilling lives and to drive down the cost of claims and boost profits – a win/win for both policyholder and carriers.
However, the Sonr briefing isn’t just about health insurance. Life insurance carriers are also exploring how apps can help them build deeper relationships with customers. They may be using next-generation methods, like AI and machine learning, but it’s in service to a holistic approach to the policyholder’s needs.
In collaboration with our parent company, Reinsurance Group of America (RGA), RGAX has been at the forefront of these changes, guiding innovation and building relationships between insurtech developers and carriers when needed. Dennis Barnes, CEO, RGAX and EVP & Chief Marketing Officer, RGA, was interviewed for this recent report. In his remarks, he talks about the evolution of insurance, the challenges involved, and his predictions for the remainder of 2022.
"As the intersection of health and wealth comes closer together, the consumer has to
have trust in an organisation around data usage, because the benefits are clear of sharing
that data, but it has to be protected and consumers have to really trust in these capabilities."
- Dennis Barnes, Sonr Insurtech Briefing Q4 2021
Ready to Lead?
True innovators don’t just keep up with change. They lead the way. If you’re ready to transform your organization into an industry leader in innovation, or you just have an idea you’d like to explore, reach out to us. The team at RGAX is ready to share their insights and opinions as well as to connect you to others in the industry who can support you in your innovation journey.