I recently had the opportunity to attend InsureTech, a Life and Healthcare fair located in the heart of London. What caught my eye on the event advert was the futuristic vision of Life and Healthcare at both a national and international level. I was intrigued to meet the masterminds behind the innovative products and services that aimed to improve the lives of many individuals across the world. But most of all, despite the complementary food and drinks, I was ready to stun them all with my Baringa elevator pitch which all of the interns put together during the induction week.
To get the most out of the topics being discussed at the fair I grouped the companies into three categories – Insurance, Diagnosis, and Digital Healthcare. I then went on to speak to a representative from each category with one key question in mind – “can you describe your innovation in three words and its impact on healthcare?” This is what a few of them had to say.
1. “Accessible, easy and digital” – Yaku, Equipsme
Out of all the representatives I spoke to, Yaku from Equipsme had such a buzz when speaking about his product. They aim to provide health insurance for start-ups and small businesses in a digitalised way. Equipsme believes that their product will transform the healthcare experience for the entire UK workforce.
2. “Simple, user-friendly and online” – Jasper, Getsurance
Getsurance, a German SME, focuses on providing health insurance for those with physical disabilities. This product in particular aims to ensure that those who are unable to work will be able to access income protection, despite their existing medical history.
3. “Personalised, inclusive and digital” – Elina, Feebris
Collaborating with the elderly and a few economically developing countries such as India, Elina explained that her product identifies health complications early with the use of digital stethoscopes and wearables.
So, what’s missing?
As I was walking around and meeting the brains behind the innovations, I couldn’t help but feel that certain customer groups were not represented. A specific group of people that I am quite passionate about are those with chronic/invisible illnesses. I was aware that the products on offer, whether it be insurance or diagnostic, just weren’t equipped to support those with such illnesses and in many cases excluded invisible illness survivors from their products as a whole.
Since returning from the conference, I’ve been encouraged to learn more about how we’re supporting our clients. I’ve realised that we’re working with our clients, using a service design-led approach to uncover potential innovative products and services for vulnerable customers. Our advice to firms, is to ensure they get the basics right first, and are able to support their customers on a more general level.
Overall, the future of life and healthcare does look promising and it was great to meet many of those who are conscious of / thinking of new and innovative ideas aiming to bring about change.