Health Insurance - From Illness Cover to Medical Care Cover

I always focus on Healthcare Solutions with three distinct lenses:

Funding: How will I pay for my medical needs?

Access: Where and How will I get the care When I need?

Information: I am healthy (or already taking good care) and don't need to worry about it, do I?

While Insurers have traditionally focused on the Protection Gap (what I refer as funding), the value of Private Medical Insurance is derived equally through addressing the other two gaps, and we can now see examples where solutions are being created with all three in perspective.

An Example - From Critical Illness Cover to Critical Care Covers:

The value of Critical Illness cover is very high, providing funds for the most expensive & life changing events in one's life.

There are many issues with traditional CI Covers which arise from the fact that it is not a one time event requiring one time medical care (and funds).

Solution - Here comes a "new" design where the Critical Illness Cover now includes the following:

• Preventive Solutions - Providing access to services from genetic profiling to regular check-up for high risk individuals

• Diagnostic Solutions - Providing access to and coverage for pre-treatment medical diagnosis from advanced imaging to laboratory services

• Treatment Solutions - Providing access and coverage for in-patient & out-patient treatment from surgery and chemotherapy to palliative care

• Recovery/ Monitoring Solutions - Providing information and cover for services from medical document management to recurrence & rehabilitative care

#Customer #NeedsAnalysis