News Article | November 24, 2016
MarketStudyReport.com adds “Global Insurtech Market 2016-2020” new report to its research database. The report spread across 76 pages with table and figures in it. The Report analysts forecast the global insurtech market to grow at a CAGR of 10.41% during the period 2016-2020. About Insurtech The insurance technology or insurtech is an increasing phenomenon that has revamped the insurance industry to connect with a wider customer base consisting of High Net Worth individuals (HNWI), upper middle-income group, and lower middle-income group. The insurtech platforms have the potential to help insurance companies to improve their relevancy to the customers to rebuild their trust. This will help in customer engagement. Browse full table of contents and data tables at https://www.marketstudyreport.com/reports/global-insurtech-market-2016-2020/ The report covers the present scenario and the growth prospects of the global insurtech market for 2016-2020. To calculate the market size, the report considers the investments made in insurtech platforms in the Americas, APAC, and EMEA. The market is divided into the following segments based on geography: The Report Global Insurtech Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. Key vendors ? Friendsurance ? Guevara ? Oscars ? Zhong An Other prominent vendors ? Acculitx ? Allay ? Analyze Re, ? Array Health ? BankBazaar.com ? Bayzat ? Bought By Many ? Censio ? Claim Di ? Collective Health ? Common Easy ? CoverFox ? CoverHound ? Cuvva ? Dynamis Software ? EaseCentral ? Eligible ? EverQuote ? FirstBest Systems ? Gather ? Gives range ? GoHealth ? Goji ? Gravie ? GroupHub ? Haven Life ? HealthCare.com ? HealthSherpa ? Hixme ? InforcePRO ? insPeer ? insuremyrentalcar.com ? Insurify ? Jointly ? Justworks ? Ladder ? Limelight Health ? Lumity ? Maxwell Health ? Metromile ? miEdge ? Navera ? Picwell ? PlanSource ? PokitDok ? PolicyBazaar ? PolicyGenius ? Praedicat ? QuanTemplate ? RenewBuy ? ROOT ? Sherpaa ? Shift Technology ? SimplyInsured ? Snapsheet ? Spex ? Stride Health ? Sure ? Sureify ? Inspool ? Zebra ? TongJuBao ? Trov, ? Tyche ? Uvamo ? Zenefits ? Zest Health ? Zipari Market driver ? Growth of Internet-based business ecosystem ? For a full, detailed list, view our report Market challenge ? Increasing fraudulent claims ? For a full, detailed list, view our report Market trend ? Incorporating big data analytics ? For a full, detailed list, view our report Key questions answered in this report ? What will the market size be in 2020 and what will the growth rate be? ? What are the key market trends? ? What is driving this market? ? What are the challenges to market growth? ? Who are the key vendors in this market space? ? What are the market opportunities and threats faced by the key vendors? ? What are the strengths and weaknesses of the key vendors? To receive personalized assistance, write to us @ [email protected] with the report title in the subject line along with your questions or call us at +1 866-764-2150
News Article | March 1, 2017
SAN FRANCISCO--(BUSINESS WIRE)--Healthcare coverage technology leader Collective Health today announced that since welcoming its first client in January 2014, it has grown its membership 500x and secured increasing demand for its integrated health benefits platform with high growth, enterprise clients across a variety of verticals, including technology, financial services, aerospace and consumer packaged goods. In the past year alone, Collective Health has doubled its membership to 70,000 employee and dependent lives across 15 employer clients. In light of its significant growth, the company has brought on new commercial leaders, including its first chief financial officer, and is introducing an innovative new product to drive improved experience and efficiencies into the $1.2 trillion employer healthcare market. Accelerated growth in enterprise market, and a new standard for Net Promoter Score Since its first year of sales focused on selling to the sub-500 employer market for the January 2014 plan year, Collective Health has rapidly moved up market, securing a majority of deals with an average member size of 5,000. Employers are drawn to Collective Health because of its unique integrated technology and services health plan solution, which is focused on dramatically improving employees’ experience with their health plan, while ensuring employers’ healthcare spend drives ROI. “We have spent the past three years singularly focused on creating the healthcare experience we all deserve, and that vision has reverberated across the large enterprise market,” said Ali Diab, co-founder and chief executive officer of Collective Health. “In addition to our sales momentum that has captured the attention of enterprise employers, we continue to attract and retain a deeply experienced leadership team and pioneer innovative products driven by technology and design to take better care of employers and their people.” As of January 2017, Collective Health’s new clients, which include Counsyl, Cloudera, CrossFit, Red Bull, Jazz Pharmaceuticals, Trace3 and others, have chosen to move their health plans to the Collective Health platform because of the real opportunity to drive performance and innovation in their health benefits program, while simultaneously offering a superior experience for their people. Hitting a year-to-date Net Promoter Score (NPS) of 75 across its clients, comparable with consumer technology standouts like Apple (72), Netflix (68) and Amazon (62)1, it’s not surprising that such a diverse range of companies have joined return employer clients including Activision Blizzard, Palantir, Zendesk and others. To support its momentum, Collective Health has broadened its leadership bench, hiring Kenneth (Ken) Hahn as chief financial officer and adding former senior vice president of people operations at Google, Laszlo Bock, to its advisory board. Ken has served as chief financial officer for three public companies where he led two successful IPOs. Most recently, he served as chief financial officer at Icontrol Networks that announced the signing of a successful sale of the company to Comcast and Alarm.com in a complex deal. "I was initially drawn to Collective Health because of their incredible vision to make healthcare accessible for everyone," said Ken Hahn, chief financial officer, Collective Health. "After meeting their world-class leadership team and leading investors, as well as seeing the quality and breadth of employers engaged on their platform, I jumped at the opportunity to be a part of this passionate group of people and to help scale company operations so that we can continue executing against that vision and take care of even more lives." Laszlo has been credited with transforming Google’s workforce and culture, and during his tenure, Google was named the “Best Company to Work For” more than 30 times in multiple publications around the world and received over 100 awards as an employer of choice. In 2010, he was named "Human Resources Executive of the Year" by HR Executive Magazine. Both Ken and Laszlo will bring their deep industry expertise and perspective to our team as the company continues to execute against its mission of simplifying healthcare. "One of the most pressing issues today for employers, individuals and our nation is healthcare: how can we improve it to save even more lives, while also reducing costs and delivering a more human and compassionate experience. To me, no one is tackling these issues more effectively or cohesively than Ali and his team at Collective Health,” said Laszlo Bock, advisor, Collective Health. "Their mastery of data science, the healthcare system and how they help employers take care of their people is unrivaled. Not only are they solving incredibly tough problems, but they're building an amazing company culture while they do it. It’s an honor to join as an advisor to support their team and mission." These announcements follow the recent executive hires of chief operating officer, Roy Gilbert, senior vice president of sales and client success, Jeff Hermosillo and senior director of clinical and network solutions, Dr. Andrew Halpert. Jeff has been responsible for quickly building out Collective Health’s sales function, hiring tenured regional vice presidents to scale Collective Health nationally with experience from Cigna, Aetna and Blue Shield of CA. As part of today’s news, Collective Health is announcing the release of its member-focused beta product: CareX. Currently being piloted in a private beta with select clients and their 15,000+ members, CareX is a new addition to the Collective Health platform that uses full stack data and machine learning to identify and proactively connect members with the care they need. The product was created to reduce the confusion, fear and frustration most Americans face when dealing with a complex care issue such as maternity, behavioral health and diabetes, as well as close the engagement gap employers see with their existing health plan and benefits programs. In the last three months of its beta, CareX has been live with 15,000+ members and has already fueled a 2x increase in program engagement, thanks to Collective Health’s unique, technology-enabled approach that utilizes data from disparate sources combined with personalized, premium member support. “As a tenured benefits leader, Activision Blizzard offers a wealth of great benefits for health and wellness, fertility, compassionate leave and more,” said Milt Ezzard, senior director of global benefits for Activision Blizzard. “But this innovation only makes a difference if employees understand the programs and how to use them. That’s why I’m so excited to be part of the Collective Health CareX beta. With CareX, we can be confident that we’re offering the right benefits in the right way. CareX also provides great data on the impact of our benefits spend, so that we can continue to invest strategically in employees.” Integrated on top of Collective Health’s existing claims and member experience technology platform, CareX is an intelligent system that uses three steps to integrate population data as well as member-specific claims and queries with a high-touch, personalized Care Navigation experience to simplify members’ care journeys. Each new cycle combines utilization results, experience feedback, clinical impact data and evolved algorithms to refine our ability to connect the right person to the right program at the right time. For more complex conditions, a primary goal of CareX is to connect members with a Collective Health Care Navigator who personally helps members navigate their coverage, programs and unique care needs, using the intelligence within the CareX system. CareX also gives employers a more powerful set of tools to analyze and optimize their benefits ecosystem, member impact and associated investment. An example of how CareX might work is if a member has a complex oncology case. CareX will identify that member, engage that member in the CareX and case management programs as appropriate, as well as guide the member through additional services that can drive better outcomes such as a second opinion service. Collective Health's deep integrations with partners allow for a more seamless navigation and tracking of members throughout their care journey, while its identification and outreach capabilities allow for a superior level of member engagement than other solutions on the market. The CareX private beta will continue with select clients and their populations through 2017 and will become more widely available in January 2018. Collective Health gives companies a smarter way to provide healthcare coverage through technology and design. Powered by a platform that connects and administers the entire benefits ecosystem—health plans, benefits programs, spending accounts, employee support—their solution delivers an effortless experience for everyone. Focused on serving the 170M+ Americans who receive healthcare coverage from their employers, the Collective Health platform has been selected by leading U.S. employers including Activision Blizzard, Cloudera, Crossfit, Palantir, Red Bull and Zendesk. Founded in October 2013, Collective Health is backed by NEA, Founders Fund, Google Ventures and other leading investors. The company is headquartered in San Francisco, CA. For more information, visit https://www.collectivehealth.com.
News Article | February 28, 2017
Company Achieves Over 100% Bookings Growth as Cloud Adoption Drives Need for Network Intelligence SAN FRANCISCO, CA--(Marketwired - Feb 28, 2017) - ThousandEyes, the Network Intelligence company that delivers visibility into every network, today shared results that reveal strong growth in bookings in both domestic and international markets, and continued expansion of product capabilities, locations and executive team leadership. Enterprises' increasing reliance on the Internet as a primary foundation of business fueled 100% year-over-year growth in bookings in both domestic and international markets and drove the addition of marquee customers across financial services, retail and leading technology companies. As cloud adoption reaches new heights, the Internet has become the new corporate backbone, rendering traditional network monitoring approaches increasingly ineffective. Traditional monitoring approaches rely on traffic capture, and provide a narrow view of the network, highlighting problems when it's too late. ThousandEyes enables organizations to gain an immediate understanding of experience from every user to every cloud application as well as providing critical insights for strategically planning and migrating services to the cloud over time. "With the surge in cloud adoption, we've seen a rapid growth in enterprises turning to ThousandEyes to categorically understand experience from every user to every application," said Mohit Lad, ThousandEyes CEO and co-founder. "ThousandEyes has innovated an approach based on an unmatched distribution of smart agents across the Internet, enterprise, all the way to the end user. ThousandEyes gathers and analyzes the massive volumes of 'Network Intelligence' data from these vantage points, enabling organizations to solve even the most obscure performance problems in minutes. By using ThousandEyes in the planning and testing phases of cloud adoption, customers can also strategically identify and fix underlying problems before production deployment of the application -- something not possible before." Recent Gartner reports have noted the adoption of cloud and SaaS services crossing an inflection point with their role in the daily operations of businesses. One report predicts that "By 2021, more than half of global enterprises already using cloud today will adopt an all-in cloud strategy" (Gartner Inc., Predicts 2017: Cloud Computing Enters Its Second Decade, David Mitchell Smith, et al., December 2, 2016). ThousandEyes recorded over 100% year-over-year bookings growth in both domestic and international markets, adding 18 Fortune 500 customers, and now counts five of the top five SaaS companies and four of the top six US Banks as customers. This includes a doubling of customers in the technology, financial services and media and gaming verticals as well as continued expansion into the healthcare and manufacturing verticals. Notable customers include 1-800-Contacts, Qualys, Collective Health, Comcast Corp., TBWA Worldwide, Wageworks, Luminex, DHI Group Inc., Craigslist, Creative Artists Agency, Conde Nast Publications Inc., Quantcast, Pitney Bowes, Cloudflare, Hi-Rez Studios, Shutterfly, Ellie Mae, and lululemon. In order to meet the growing demand for Network Intelligence and meet the needs of an expanding base of customers, ThousandEyes has expanded business operations, including a new sales office in Austin, TX, a second engineering office in London, as well as continuing to double the team in the San Francisco headquarters. ThousandEyes, also made several notable executive appointments to help lead teams and areas that are strategic for long term growth. These executives include Victoria Abeling, director of corporate sales, Prabha Krishna, vice president of people operations, and Ashwin Kedia, vice president of business development. ThousandEyes held ThousandEyes Connect events in San Francisco and New York City, featuring presentations from leading companies, such as AIM Speciality Health, Cisco, Hi-Rez Studios, Microsoft, Nasdaq, Quantcast, RichRelevance, ServiceNow, Unilever, Verisign and Zendesk. ThousandEyes Connect is a live event where network engineers and web performance practitioners share their experiences tackling tough performance challenges. "The launch of Endpoint Agent, easier deployments of Enterprise Agents, and the continued expansion of our Cloud Agent locations has enabled us to build a truly unique global dataset that consolidates performance measurements and metadata from thousands of distinct vantage points from all across the Internet, into the enterprise, and to the endpoint," said Ricardo Oliveira, ThousandEyes CTO and co-founder. "This enables us to innovate in really profound and interesting ways, such as delivering Internet Outage Detection as part of our vision for Collective Intelligence. The ability to provide actionable insights into complex Internet-centric networks has made ThousandEyes a necessary ingredient for the modern enterprise, and we look forward to continuing to deliver on our vision for Network Intelligence." Industry Recognition In the past year, ThousandEyes earned recognition and accolades from industry press and analyst firms. A Gartner report mentioned ThousandEyes as a representative vendor for Collective Intelligence Benchmarking (Gartner Inc., Innovation Insight for Collective Intelligence Benchmarking, Vivek Bhalla and Will Cappelli, September 26, 2016). Analyst firm IDC included ThousandEyes as an "IDC Innovator for Cloud-Managed Network Monitoring" within the enterprise network management market. CRN included ThousandEyes on its 2016 list of top "Emerging Vendors" in July. And in a December article, Business Insider counted ThousandEyes as one of "51 enterprise startups to bet your career on in 2017." ThousandEyes is a Network Intelligence platform that delivers visibility into every network an organization relies on, enabling them to optimize and improve application delivery, end-user experience and ongoing infrastructure investments. Leading companies such as Equinix, ServiceNow and Twitter, as well as eBay and other members of the Fortune 500, use ThousandEyes to improve performance and availability of their business-critical applications. ThousandEyes is backed by Sequoia Capital, Sutter Hill Ventures, Tenaya Capital and GV (formerly Google Ventures), and has headquarters in San Francisco, CA. For more information, visit https://www.thousandeyes.com or follow us on Twitter at @ThousandEyes.
News Article | April 28, 2016
Ethan Weiss, a cardiologist at UC San Francisco, spends long hours at the hospital treating patients. But between shifts, he takes calls with health-technology entrepreneurs to offer them advice and feedback. As Weiss explains, it's not about the money. He does the majority of this advisory work for free or in exchange for a tiny chunk of equity. It's also not about prestige: He doesn't speak publicly about the startups he's consulting with. So why does he bother? For one thing, it makes for a stimulating break in the day. "I have an intense curiosity and I like novel things," says Weiss. It's a challenge to quantify the exact number of doctors moving into health tech; even if a large physicians' group like the American Medical Association (AMA) tried to keep track, it would need to determine whether to include doctors that advise startups but still practice one or two days a week, or just those who have left medicine altogether. I suspect that the former category is much larger. Suffice it to say, though, that Weiss is far from alone—the migration of doctors into the health tech space is noticeable. It is now fairly common for well-funded health-tech startups to have medical directors, physician founders, or chief medical/health officers on their team. Some high-profile examples include Collective Health, Sherpaa, Startup Health, Doximity, Aledade, and AthenaHealth. And the AMA tells me it is proactively forging partnerships in Silicon Valley and beyond to help doctors "work in tandem on the innovative tech solutions that promise to change health care." To understand why doctors are dabbling in startups or even changing careers, I recently polled MDs involved with startups (very informally) on Twitter to gauge whether they were motivated by money, prestige, fun, or altruism. Of 45 respondents, 44% were motivated by "fun." But it runs deeper than that. Weiss, for instance, has other motivations. He is concerned that much of the $4.5 billion in venture capital raised by digital health companies in 2015 will be spent on the next "Uber for health care," or the 10th next-generation stethoscope, rather than on solving patients' most pressing needs. "A lot of startups are peddling really cool technology in search of a problem," he told Fast Company. I recently spoke to a half dozen other physicians based in San Francisco, Boston, and other tech hubs to understand their motivations for working in the space. Here's what they said. New online communities have popped up to cater to doctors with an interest in health tech, and they shine a light on some of the problems in the medical field. A handful of California-based doctors started a private Facebook group called "dropout docs," which includes Rebecca Coelius, a UCSF medical school graduate who worked as a health director at Code for America; Amanda Angelotti, a fellow UCSF grad who works in clinical systems design at One Medical; Sean Duffy, a Harvard Medical School dropout who cofounded Omada Health; and Connie Chen, a practicing doctor who cofounded a chronic disease-management app called Vida. Much of the offline and online discussion is centered on the struggles of being a young doctor today, as well as the guilt associated with leaving medicine after years of education (and in many cases, a massive accumulation of student debt). Other groups, like U.K.-based Doctorpreneurs.com, The Modern MD, and the Society for Physician Entrepreneurs are also spreading the word about alternatives to clinical medicine via blog posts and job listings. "There is an increasing acceptance that doctors will leave clinical medicine and do something in the startup world," says Vishaal Virani, one of the founders of the Doctorpreneurs group. As Chen from the "dropout docs" group points out, some physicians don't see a clear path forward, career-wise, especially if they want to strike out on their own. As the industry consolidates—and small physician groups get gobbled up—it's harder than ever for doctors to start their own practices. That had traditionally been an entrepreneurial outlet for them. Other doctors are simply burned out after years of grappling with (often onerous) technology systems for documentation and billing, which hospitals have rapidly adopted in the past decade—a key reason that doctors today have less and less time to spend with patients (the average interaction these days is about 8 minutes). As one physician recently put it on the blog KevinMD.com: "The ratio of time spent on doctor-patient interactions compared to physician-computer ones appears so horribly skewed that it has reached the point of complete dysmorphia." "Doctor burnout and dissatisfaction is most definitely a factor [for why doctors are looking outside of clinical medicine]," says Daniel Kraft, a pediatrician, startup adviser, and the faculty chair for the medicine and Exponential Medicine program at Singularity University, a Silicon Valley think tank. "We see inefficiencies every day that are hurting patients." Some doctors are actively looking for ways to work hand in hand with entrepreneurs to fix these problems. They see problems with the industry, but they also see an opportunity to make a major impact. "Most physicians are desperate to help patients, especially when they keep seeing the same pain points," says Kraft. For Atul Butte, a doctor and researcher in biomedical informatics at UCSF, there's plenty to be excited about. Butte, who advises about 50 health tech startups, is optimistic about a range of new initiatives that offer ways to diagnose, treat, and care for patients. He is currently digging into the growing pool of open data from both failed and successful clinical trials, which he sees as vitally important for the development of new therapies. Most of the Bay Area doctors I spoke with had focused on one or two pet areas of health tech, ranging from mental health apps to sensor-based medical devices. And many of them, like Weiss, were working to divert the flow of money into health tech into the areas that would make a real impact. "I see a lot of companies that aren't picking the right problem," says Butte. Moreover, health tech also offers young and ambitious doctors an opportunity to make a name for themselves. "You talk at conferences, you are on panels, you do things that academic medicine would expect you to do when you have another couple of decades of experience," says Harvard Medical School-based physician Arshya Vahabzadeh, who is also a director at a neuroscience startup called BrainPower. Vahabzadeh believes that startups can help him make a more immediate impact. For entrepreneurs, physicians' growing interest in health tech is a huge boon for their businesses. Having a well-respected doctor on the team offers legitimacy (and a path to funding), and it is paving the way for them to tackle bigger and more complex problems. "I see too many entrepreneurs steering clear of the real medical challenges," says Weiss. "But I say now is the time. Don't think about the market in a year. Think about what can be accomplished in the next 10 years."
News Article | November 24, 2016
— The global insurtech market analyst says many insurance companies are focusing on expense management in a bid to increase profit margins. This is possible only through the application of technology. Many insurers are shifting their focus from stand-alone technology projects to an environment where there is a continuous technological improvement. The top vendors are executing M&A and joint ventures to reduce costs. Complete report on insurtech market spread across 76 pages, analyzing 4 major companies and providing 19 data exhibits are now available at http://www.reportsnreports.com/reports/759411-global-insurtech-market-2016-2020.html According to the 2016 insurtech market report, many top banks and insurance companies are expected to enhance their offerings or develop strategic partnerships with financial technology innovators to provide innovative payment solutions to customers. The advances and innovations in technologies and different financial, technological platforms have also increased the customers' need for better online experiences. The following companies are the key players in the global insurtech market: Friendsurance, Guevara, Oscars, and Zhong An. Other prominent vendors in the market are: Acculitx, Allay, Analyze Re, Array Health, BankBazaar.com, Bayzat, Bought By Many, Censio, Claim Di, Collective Health, Common Easy, CoverFox, CoverHound, Cuvva, Dynamis Software, EaseCentral, Eligible, EverQuote, FirstBest Systems, Gather, Gives range, GoHealth, Goji, Gravie, GroupHub, Haven Life, HealthCare.com, HealthSherpa, Hixme, InforcePRO, insPeer, insuremyrentalcar.com, Insurify, Jointly, Justworks, Ladder, Limelight Health, Lumity, Maxwell Health, Metromile, miEdge, Navera, Picwell, PlanSource, PokitDok, PolicyBazaar, PolicyGenius, Praedicat, QuanTemplate, RenewBuy, ROOT, Sherpaa, Shift Technology, SimplyInsured, Snapsheet, Spex, Stride Health, Sure, Sureify, Inspool, Zebra, TongJuBao, Trov, Tyche, Uvamo, Zenefits, Zest Health, and Zipari. Order a copy of Global Insurtech Market 2016-2020 report @ http://www.reportsnreports.com/purchase.aspx?name=759411 EMEA occupied the maximum share of over 72% in the global insurtech market during 2015. The emergence of new business models such as telematics, may create new insurance products in the EMEA region. In EMEA, the technological trades are established in countries like the Germany, Netherlands, and the UK. In the Americas, several technological start-ups are coming up in the Silicon Valley which is expected to increase the insurance business and upgrade it in the region. The insurtech market in the America will undergo various acquisitions, collaborations, partnerships, and competition during the forecast period. There has been a continuous increase in the technological deals taking place in the APAC region. Analyst expects a strong growth around blockchain, which is an underlying distributed ledger technology that supports the exchange of secured financial assets Global Insurtech Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the present scenario and the growth prospects of the global insurtech market for 2016-2020. To calculate the market size, the report considers the investments made in insurtech platforms in the Americas, APAC, and EMEA. Further, the insurtech market report states that It is important for the insured to disclose the exact information to the insurance company. This will help the insured to avoid the number of fraud claims. And this rise in fraud cases has a direct impact on the customers' claim experience. Insurance companies have started conducting stringent checks before paying claim amounts. One of the instances where most fraudulent claims are made is with whiplash injuries. Claims, which are based on whiplash injuries, are common following an accident. About Us: ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 100+ leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, we help you in your purchase decision by mapping your information needs with our huge collection of reports. For more information, please visit http://www.reportsnreports.com/reports/759411-global-insurtech-market-2016-2020.html
News Article | November 24, 2016
The insurance technology or insurtech is an increasing phenomenon that has revamped the insurance industry to connect with a wider customer base consisting of High Net Worth individuals (HNWI), upper middle-income group, and lower middle-income group. The insurtech platforms have the potential to help insurance companies to improve their relevancy to the customers to rebuild their trust. This will help in customer engagement. Wiseguy Report analysts forecast the global insurtech market to grow at a CAGR of 10.41% during the period 2016-2020. Covered in this report The report covers the present scenario and the growth prospects of the global insurtech market for 2016-2020. To calculate the market size, the report considers the investments made in insurtech platforms in the Americas, APAC, and EMEA. The market is divided into the following segments based on geography: • Americas • APAC • EMEA Wiseguy Report report, Global Insurtech Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. Other prominent vendors • Acculitx • Allay • Analyze Re, • Array Health • BankBazaar.com • Bayzat • Bought By Many • Censio • Claim Di • Collective Health • Common Easy • CoverFox • CoverHound • Cuvva • Dynamis Software • EaseCentral • Eligible • EverQuote • FirstBest Systems • Gather • Gives range • GoHealth • Goji • Gravie • GroupHub • Haven Life • HealthCare.com • HealthSherpa • Hixme • InforcePRO • insPeer • insuremyrentalcar.com • Insurify • Jointly • Justworks • Ladder • Limelight Health • Lumity • Maxwell Health • Metromile • miEdge • Navera • Picwell • PlanSource • PokitDok • PolicyBazaar • PolicyGenius • Praedicat • QuanTemplate • RenewBuy • ROOT • Sherpaa • Shift Technology • SimplyInsured • Snapsheet • Spex • Stride Health • Sure • Sureify • Inspool • Zebra • TongJuBao • Trov, • Tyche • Uvamo • Zenefits • Zest Health • Zipari Market driver • Growth of Internet-based business ecosystem • For a full, detailed list, view our report Key questions answered in this report • What will the market size be in 2020 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space? • What are the market opportunities and threats faced by the key vendors? • What are the strengths and weaknesses of the key vendors? You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report. PART 07: Market drivers • Growth of Internet-based business ecosystem • Rationalization of transaction process • Increased need for customer satisfaction PART 11: Market trends • Incorporating big data analytics • Innovations in insurance technology • Tapping potential of social media channels for better market penetration and collaboration medium Wise Guy Reports is part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available.
News Article | November 23, 2016
These analysts forecast the global insurtech market to grow at a CAGR of 10.41% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global insurtech market for 2016-2020. To calculate the market size, the report considers the investments made in insurtech platforms in the Americas, APAC, and EMEA. The report, Global Insurtech Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. Key players in the global insurtech market: Friendsurance, Guevara, Oscars, and Zhong An. Other Prominent Vendors in the market are: Acculitx, Allay, Analyze Re, Array Health, BankBazaar.com, Bayzat, Bought By Many, Censio, Claim Di, Collective Health, Common Easy, CoverFox, CoverHound, Cuvva, Dynamis Software, EaseCentral, Eligible, EverQuote, FirstBest Systems, Gather, Gives range, GoHealth, Goji, Gravie, GroupHub, Haven Life, HealthCare.com, HealthSherpa, Hixme, InforcePRO, insPeer, insuremyrentalcar.com, Insurify, Jointly, Justworks, Ladder, Limelight Health, Lumity, Maxwell Health, Metromile, miEdge, Navera, Picwell, PlanSource, PokitDok, PolicyBazaar, PolicyGenius, Praedicat, QuanTemplate, RenewBuy, ROOT, Sherpaa, Shift Technology, SimplyInsured, Snapsheet, Spex, Stride Health, Sure, Sureify, Inspool, Zebra, TongJuBao, Trov, Tyche, Uvamo, Zenefits, Zest Health, and Zipari. Inquire for Discount on the Report at http://www.reportsnreports.com/contacts/discount.aspx?name=759411 Commenting on the report, an analyst said: "Many insurance companies are focusing on expense management in a bid to increase profit margins. This is possible only through the application of technology. Many insurers are shifting their focus from stand-alone technology projects to an environment where there is a continuous technological improvement. The top vendors are executing M&A and joint ventures to reduce costs." The insurance technology or insurtech is an increasing phenomenon that has revamped the insurance industry to connect with a wider customer base consisting of High Net Worth individuals (HNWI), upper middle-income group, and lower middle-income group. The insurtech platforms have the potential to help insurance companies to improve their relevancy to the customers to rebuild their trust. This will help in customer engagement.
News Article | August 23, 2016
News Article | October 29, 2015
This is the second essay in a three-part series looking at problems and solutions in the health-care marketplace. Read part one, on the main issues with the existing insurance system, here. On the sixth floor of the historic Puck Building, in SoHo, are the headquarters of Oscar, a two-year-old startup that sells health insurance to individuals. The office, like the building’s Shakespearean namesake, has a certain playfulness: the walls double as chalkboards, kegs of beer round out the kitchen, and the names of the conference rooms refer to famous Oscars, including one called Bluth, after the “Arrested Development” character. “We want to introduce people to the idea of great health insurance,” announces a credo printed on one wall. “By being simple. By being thoughtful. By being friendly.” Oscar is one of several health-insurance companies to emerge in the past few years with the ambition of reinventing the industry. The Affordable Care Act, which was signed into law in 2010, created an unprecedented opportunity to change how Americans purchase and consume health care. The A.C.A. has made health insurance mandatory, creating a captive market. It has introduced the health-insurance exchanges, giving people who were previously uninsured an easier way to get coverage. It has accompanied a rise in the popularity of high-deductible plans, which charge lower annual fees but require greater out-of-pocket contributions, prompting consumers to be more judicious about how they seek care. And it has initiated a shift in reimbursement to health-care providers from rewarding volume to rewarding value, creating financial incentives for providers to reduce unnecessary spending. The question now, five years after the A.C.A. was passed, is how the health-insurance industry should evolve. In the past few years, two noteworthy approaches have emerged, addressing different aspects of the insurer-provider-patient triad. The first focusses on building a relationship between insurers and patients, capitalizing on the opportunity offered by the exchanges. The second attempts to forge financial alliances between insurers and providers. While both seek to improve the system, they reflect different strategic bets on where it is most amenable to innovation, and how insurers can have the greatest impact in the short-term. Oscar, which sells insurance on the individual exchanges, is one of the most visible examples of the direct-to-consumer approach. In September, Google’s growth-equity fund announced a $32.5-million investment in the company, bringing its total valuation to $1.75 billion. From Oscar’s sleek Web design to its colorful cartoon advertisements to its homepage U.R.L. (hioscar.com), the company’s clear hope is to attract customers by making something that is ordinarily unpleasant seem more palatable. It has amassed some forty thousand members in New York and New Jersey, where it currently operates, and plans to expand to Texas and California this November. Some critics have questioned whether Oscar’s clever marketing is simply a veneer for a traditional health-insurance plan. But Mario Schlosser, the C.E.O. of Oscar, told me that he sees the marketing as key to creating a different kind of insurance. “We have an asset, which is a membership base that is very engaged,” Schlosser said. That engagement allows the company to offer creative incentives to influence patient behavior in positive ways. Last year, for instance, Oscar began giving some members a monetary reward for getting a flu shot. Twice as many patients in that group signed up for the vaccine, as compared to Oscar patients who were not offered a reward. Oscar was also the first health-insurance company to offer members free unlimited access to telemedicine, a move Schlosser told me has minimized unnecessary office and emergency-room visits. An evaluation for abdominal pain would traditionally cost the company more than a thousand dollars; using telemedicine, it costs fifty-seven. And patients, who pay nothing at all, avoid considerable out-of-pocket costs. “It’s really being utilized by our members,” Schlosser told me. “Even though we pay for these visits, they over-all appear to be saving costs for the entire system, as opposed to costing more.” The direct-to-consumer strategy has its challenges, though. For one, prices have to be competitive for a company to win over market share—a strategy that can be difficult to sustain, particularly for startups that lack sufficient capital to buffer their losses. In hopes of promoting healthy competition, the government has sponsored a number of “consumer operated and oriented plans” (CO-OPs), non-profit organizations that, like Oscar, sell insurance on the exchanges. In September, regulators announced that they were shutting down Health Republic Insurance of New York, the largest of the CO-OPs. The company had lost more than fifty million dollars in the first half of this year. So far, eight CO-OPs across the country have closed their doors, and many more are dealing with financial losses and lower-than-expected enrollment. Another limitation of the direct-to-consumer approach is the size of the market. Last year, only seven million individuals bought coverage through an exchange, and the Congressional Budget Office projects that, over the next five years, enrollment will plateau below twenty-five million. By contrast, a hundred and fifty million people were insured through their workplace last year. It’s possible that this imbalance could shift—for example, if more employers were to adopt “private” employee-dedicated exchanges and give workers a fixed allowance to spend on a plan of their choice. A Kaiser Family Foundation report published this year indicated that while only two per cent of workers are currently enrolled in a private exchange, one in five employers are considering the model. By creating demand “from the ground up” among employees, Schlosser told me, Oscar hopes that eventually it, too, can expand into the employer market. While customer choice is typically considered a good thing, the direct-to-consumer market’s reliance on autonomy can also be a problem. When I became a doctor, I struggled to choose between just two plans that my employer had pre-selected for me, and research suggests that, in general, consumers make worse decisions when they are given too many options. “Throwing your employees to an exchange is not consumerism. That’s abdication,” Ali Diab, the co-founder of a company called Collective Health, which helps employers design and implement custom health plans, told me. “These are employees who you’re expecting to be engaged and productive at work, not benefits experts.” Perhaps the most serious criticism of the consumer-focussed strategy is that, no matter how well executed or widely adopted it is, it will do little to address the larger issue of rising health-care expenses. That’s because complex and chronic diseases drive the greatest share of costs, and providers still control most spending decisions where these illnesses are concerned. A 2013 survey on medical expenditures conducted by the Agency for Healthcare Research and Quality found that five per cent of the population accounted for nearly half of all health-care spending. Improving outcomes and decreasing costs for the sickest patients will take more than slick technology and a friendly interface—it will take close coördination with providers, adjustments to how they are compensated, and system-wide changes in clinical practice. Read part three, on new approaches to the relationship between providers and insurers, here.
News Article | November 15, 2016
SAN FRANCISCO--(BUSINESS WIRE)--#digitalhealth--Collective Health Appoints Chief Operating Officer and Senior Vice President of Sales and Customer Success and doubles its membership to 70,000 lives.