By using clinically validated technology to enable behaviour change of policyholders suffering from cardiometabolic diseases (CMDs) such as diabetes, chronic kidney disease and stroke, the risk for life and health insurers can be significantly reduced.
CMDs are reaching epidemic proportions, with nearly 60% of the global adult population projected to be overweight or obese (pre-CMD) and with the global cost to the community tipped to exceed $2.5 trillion, over the next few years. CMDs comprise 4 of the top 10 most expensive conditions to treat.
In a new article, co-authored by The Digital Insurer and Wellthy Therapeutics, the case is presented for proactive digital intervention by the insurance industry to support policyholders struggling with CMDs. The article points out that the wellness programmes insurers have so far launched, while producing encouraging results, fail to reduce CMD risks.
The article goes on to describe recent studies where new digital technology has delivered some amazing outcomes – a mean reduction of HbA1C levels of 1.17% across engaged participants in as little as 16-weeks. The authors note that a 0.5% decrease, reduces hospitalization and re-admission rates by 22%, reduces average length of stay (ALOS) by 34% and reduces overall cost of care by 12%. Based on these savings, the article suggests Insurers offering medical expense reimbursements will reap the quickest returns and biggest benefits from using this technology.
Hugh Terry, the founder of The Digital Insurer, commented, “By adopting the latest digital technology, behavioural change frameworks and established clinical knowledge, insurers have the all the ingredients to make the business case work. Rather than just pricing risk, they can reduce it and thereby help millions live longer and healthier lives. Insurers have a fantastic opportunity to not only help their customers but also to improve their financial performance and improve negative perceptions about the industry. We are looking forward to increasing awareness on this topic and the solutions that are available.”
Abhishek Shah, co-founder of Wellthy Therapeutics, commented, “ By deeply engaging customers on their health, digital therapeutic solutions like ours are helping insurers create a unique opportunity to achieve a triple win – healthier customers, competitively priced products through much more reliable real time data to price risk effectively, and positive brand trust by becoming a health partner in their customers journey towards a better quality of life.”
Read the full article follow this link.
For further information please contact:
Andrew Dart from The Digital Insurer at firstname.lastname@example.org
Saurabh Shekhar from Wellthy Therapeutics at email@example.com
About The Digital Insurer
The Digital Insurer is committed to working together to accelerate the digital transformation of insurance. It maintains the world’s largest dedicated knowledge base on digital insurance for a community of more than 25,000 professionals. The Digital Insurer also partners with Insurers, InsurTech companies and Corporate VCs on a range of information and market development services to help them accelerate their own digital transformation.
About Wellthy Therapeutics
Wellthy Therapeutics is a digital therapeutics company that is inspiring and enabling the prevention, reversal and control of chronic illnesses of millions of lives. It’s first digital therapeutic for Type II diabetes has been endorsed by Asia’s largest diabetes association (RSSDI), and its second digital therapeutic in Chronic Kidney Disease management is powering one of South Asia’s largest dialysis prevention programs.
Wellthy Therapeutics has published & presented real-world data at the AACE 26th Annual Congress in Austin and the AACE 27th Annual Congress in Boston, the ADA 77th Scientific Sessions in San Diego and the ADA 78th Scientific Sessions in Florida, the IDF Congress 2017 in Abu Dhabi, the ATTD 11th International Conference in Vienna, the RSSDI 44th & 45th Annual conferences in India, and the 12th RSSDI Regional Conference in India. For more information, visit http://www.wellthy.care .
For more information, visit: https://wellthy.care/
 HbA1c test measures the amount glucose that is bound to the haemoglobin molecule in the blood and is a very accurate indication of blood sugar control.