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Allianz declares strategic partnership with American telehealth platform

In View Summary

A Boston-based telehealth platform called American Well has received US$59.2m investment from Allianz X, the digital investment unit of Allianz. The partnership is aimed at developing digital health solutions with increased accessibility, lower cost, and improving healthcare quality across the globe.

The partnership will add Allianz’s international expertise to American Well’s wearable sensors, remote monitoring, and virtual visits. The 24/7 telehealth platform connects patients live with doctors, specialists and other healthcare providers over secure video in addition to handling clinical, administration, and security requirements consistent with US healthcare regulations and best practices.

The American Well Platform (AW10) combines a rich user experience, deep healthcare integration, advanced analytics, and defense-grade security to provide full spectrum integrated care.

Solmaz Altin, the Chief Digital Officer of Allianz Group, has said “Allianz X’s investment with American Well will result in better access, lower cost and more connected care for our customers through a leading-edge health platform. This collaboration emphasizes Allianz’s commitment to digitalization, our goal of investing in digital frontrunners and encourages advancements within the whole healthcare ecosystem.

Reported Benefits

Benefits to customers

  1. Increased accessibility
  2. Lower costs
  3. Improved healthcare quality
  4. 24/7 service accessibility
  5. Transparency
  6. Improved decision making
  7. Reduced time

Benefits to insurers

  1. Increased reach
  2. Connected healthcare system
  3. Customer engagement and retention
  4. Reduced customer turnaround time
  5. Greater customer insights

The Digital Insurer's View

Telehealth is the new way to go for all the entities involved in healthcare like the doctors, patients, insurers, hospitals, etc. This will play a major role in providing low-cost quality healthcare solutions to the masses.

We see American Well and Allianz’s partnership as just the beginning. With growing customer demands and increasing healthcare costs, the healthcare market will witness more of these partnerships. Only time will tell how these associations will shift the existing healthcare landscape.

References

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