Introducing the Health Tech Centre at SCOR Digital Solutions

March 2024 – In the run up to World Health Day on 7^th April, we’re delighted to introduce the ‘Health Tech Centre’ – a new department led by Vincent Shi which draws together all health offerings currently being developed at SCOR Digital Solutions.

Chief among these are our health and wellness app Good Life, and proprietary Biological Age Model BAM^TM algorithm. The Good Life app and BAM were conceptualised in 2018, with the first client launch coming just a year later.

Since then, Good Life’s success has led to adoption by insurers across 8 Asian markets, and even an expansion into Europe. Our solution was one of a small number to win Gold at the Singapore FinTech Festival in 2021, selected out of nearly 200 competitors.

In 2023, the app – now in its third iteration (‘Good Life 3.0’) – was recognised as the only health and wellness app made for the insurance industry to win an internationally acclaimed iF Design Award that year. Couple this with 5 more award wins the same year from Indigo Design – and a userbase now in excess of 500,000 – and a picture emerges of an app on the rise.

The Health Tech Centre arises to capitalise on this early success, consolidating all elements of health-tech development at SCOR Digital Solutions, exploring broader collaborations with the industry and research institutes, and optimising our market offerings accordingly.

(Below: Vincent Shi discusses Good Life's successful implementation at Bank of China Life, Hong Kong)

Vincent Shi – who leads operations as Chief Health Tech Business Officer - was recently interviewed by Bea Frese, then researcher from the Singapore ETH Center. Inspired by the conversation, Ms Frese conducted research to better understand how Digital Health Interventions (DHIs) in the insurance industry could fuel preventative health measures for policyholders.

The resulting position paper was presented at the 17th International Joint Conference on Biomedical Engineering Systems and Technologies, and its focus case study was Good Life.

Titled "How the Health Insurance Industry Is Uniquely Positioned to Implement Digital Health Interventions and Preventative Care Measures," the paper was selected by the Scale-IT-up workshop’s committee because of how it showcased the implementation of an innovation solution.

Vincent Shi contributed specific insights on the following areas to the paper:

• How health tech products are designed to be effective in delivering business results;
• Why insurance companies should invest in health & wellness programs for the long term;
• What framework/KPIs insurance companies can follow to drive a sustainable business model, and;
• Vincent's own lessons learnt from past experimentation, and a look at what the future holds in this area.

Read the position paper

With more and more insurance companies understanding the costs/benefits of implementing health and wellness programmes and the underlying success factors, it is our hope that contributing to the growing discourse in this area will inspire greater discussion – strengthening both the sector and those it serves.

At SCOR Digital Solutions, our health tech offerings are imbued with SCOR’s comprehensive scientific and analytical knowledge. They are designed by teams with vast underwriting and consumer expertise and built incorporating the latest in technology in modular design. Get in touch with us today to learn more about how we can help you meet your consumers’ needs.

References

Frese, B. (2024). How the Health Insurance Industry Is Uniquely Positioned to Implement Digital Health Interventions and Preventative Care Measures. In Proceedings of the 17th International Joint Conference on Biomedical Engineering Systems and Technologies - Scale-IT-up; ISBN 978-989-758-688-0; ISSN 2184-4305, SciTePress, pages 879-885. DOI: 10.5220/0012402000003657. For the full publication at original source, click here.

Bea Frese holds an MBA from Nanyang Technological University Singapore and is finishing her MA in Strategy and International Management at the University of St. Gallen.