HOSPITALS
he speed of innovation and products on offer at life and health insurers is rapid , and in a diverse global market , the picture is different across jurisdictions .
Will Wood is Director of Life and Health at Instanda , the digital insurance solution that enables carriers , brokers and managing general agents ( MGSa ) to design , build and launch insurance products . Here , Wood discusses the latest on health insurance in North America , the UK , Europe and Africa and he looks at how technology is driving things forward .
How is life & health insurance evolving in North America ? In North America , there has been some significant movement in the insurance space when it comes to eApp capability . Consumers are getting better digital experiences on the front end , and new players have emerged . But there is still a lot of work to do to digitise the policy administration layer to drive out operational inefficiencies and remove paper processing .
One of the struggles this creates is where eApp capability has been integrated into existing policy administration platforms , there is inevitably work to do to re-integrate into a new platform undoing the previous work .
The companies getting ahead of the curve here are being smart and using technology platforms that do the eApp as well as the policy administration layer .
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