WHY Health Insurance?

My first introduction to Health Insurance was as a medical practitioner at a premier state sponsored hospital where two daily challenges shaped my lifelong view:

1. People commonly seek healthcare at a late stage of progression of their medical condition

2. They often left healthcare too early in their treatment (or were irregular in maintaining it)

This being particularly frustrating as a doctor, I was drawn into trying to understand their behaviour. The reasons were fairly obvious ones, and this makes them even more relevant:​

• Not having adequate funds for healthcare - funding gap

• No access to "quality" healthcare - access gap

• Didn't realise till it was too late - information gap

Health Insurance industry is uniquely placed to solve these challenges, since (maybe ironically) here the customer & industry incentive have perfect alignment.

Health Insurance solutions simply have to relate to each of these three underlying reasons, to provide a very unique and differentiated customer experience.

As a "prequel" to series of posts starting with "Customers don't need Health Insurance!", this short article shares my personal motivation with the health & insurance industries.

#Customer