Technological innovations offer health insurers business opportunities

Innovations in healthcare technologies have been growing, which is evident by the increasing attention of the venture capital industry. Health insurers can harness these technologies directly or indirectly in many ways that may result in increasing efficiency in operations, decreasing healthcare costs and improving customer satisfaction.

Most innovative solutions use the existing power of internet, mobile phones, 3D printing, artificial intelligence, machine learning and traditional information technology to create answers to industry-wide challenges.

In this paper, Milliman professionals discuss innovative solutions that can be harnessed directly by health insurers in different parts of the world. They classify healthcare technologies into three categories.