Luisa Barile, CFO at Bought by Many, Peter Goodman, Co-Founder & CEO at Aventus, Sten Saar, CEO at Zego, and Rich James, Commercial Manager at Digital Partners – a Munich Re Company sit down to discuss the foundations of digital health insurance in this panel discussion hosted by ITC.
Transcript
0:00
[Music]
0:05
and welcome to
0:07
what we think is a very very interesting
0:09
and exciting
0:11
insurance webinar and we’re going to be
0:13
talking about some big topics actually
0:15
in this session uh the main theme is
0:18
brown how do you build um a health
0:20
technology ecosystem so a pretty big
0:23
topic
0:24
but we’re going to talk about data
0:26
a bit about the future of insurance
0:29
and some other hot topics as well so i
0:30
think it’s going to be a fascinating
0:31
session
0:32
i’m matt whittingham i’m from a company
0:35
called gallon growth and just briefly we
0:37
are experts in
0:39
digital health technology and we help
0:41
insurers and pharmaceuticals
0:43
really find great partnerships in the
0:45
health technology ecosystem so that’s a
0:47
little bit about us but i’m delighted to
0:49
have a really really stellar panel for
0:52
you so without further ado let me just
0:54
hand over to the team and it would be
0:56
great just to hear very quick intro um
0:59
who you are who you work for and your
1:01
role and let’s start with marco
1:05
thanks so much for the uh for the call
1:07
out uh so very happy to be here today we
1:09
always learn a lot through participation
1:11
in these programs and look forward to
1:14
feedback from the folks watching the
1:15
webinar when it comes out uh as i said
1:17
i’m mark ahush i’ve worked for pinghan
1:19
group for more than three years based in
1:22
hong kong i’m the chief medical officer
1:24
of a
1:25
relatively small compared to the group
1:27
size
1:28
corporate captive vc it’s about a
1:29
billion u.s dollars
1:31
we’ve deployed getting on for a quarter
1:34
to a third of that amount and we focus
1:37
on investments in fintech and healthtech
1:39
where i’m working in that sector that
1:41
have the ability to further ping on
1:43
groups ambitions in the health ecosystem
1:46
that it’s building out on the mainland
1:48
most of our work is done with a mainland
1:50
focus trying to overcome the kind of
1:52
issues that we’ll discuss i guess
1:54
through this webinar very happy to be
1:56
here hands back to you thanks for that
1:58
marco cole hi welcome um tell us a
2:01
little bit about your uh about dot dot
2:03
co hey matt well uh thank you guys for
2:05
having me and thank you for moderating
2:06
the panel it’s really a pleasure my name
2:08
is cole surchak uh i’m the co-founder
2:11
and ceo of doc doc
2:13
and uh doc doc’s the world’s first
2:15
patient intelligence company and what we
2:17
do is
2:18
we collect data nobody else has in the
2:20
industry about physicians and then we
2:22
put that into a format uh that allows
2:25
physicians to
2:27
match based on the physician’s unique
2:28
expertise and the doctor’s unique needs
2:30
at a condition and procedure level um
2:32
thanks cole look forward to hearing more
2:34
about doc doc in a second uh frank
2:36
devine there welcome frank um
2:38
i think you used to be based as well in
2:40
age didn’t you but now you’re in paris i
2:42
think yeah exactly exactly i’m uh i’ve
2:45
been relocating to paris for the last uh
2:48
years but but i’ve been living in in
2:51
china in shanghai
2:53
to be more precise for the
2:56
between 2015 to 2018 where i created a
3:00
innovation lab for for for axel i’m now
3:04
heading the uh
3:05
open innovation activities across uh
3:08
across the globe for exa group uh and
3:10
and axon x which is a dedicated
3:13
organization within the group to lead
3:16
uh the innovation um journey of axon
3:21
super great and i’m really curious about
3:23
what your focus is going to be but we’ll
3:24
get onto that in a second so yeah the
3:26
first topic really is
3:29
there was a great quote from microsoft
3:31
which i’m sure you’ve all heard which
3:33
talks about coving the acceleration
3:35
and how they’ve seen uh you know two
3:37
years digital transformation in about
3:39
two months
3:41
um so things are really moving very very
3:43
quickly and you know we certainly see
3:45
that in asia and other parts of the
3:46
world
3:47
so
3:48
very interested to know about how you
3:51
are approaching building out your health
3:53
technology ecosystems because all of you
3:55
come from from slightly different angles
3:58
marco i’m going to i’m going to start
3:59
with you because ping anne of course
4:02
really seen as a sort of technological
4:05
leader in the space um you know today i
4:08
was reading all about some of the
4:10
innovation that you guys have been doing
4:12
could you give us a little flavor
4:13
perhaps about some of you know your
4:16
focus
4:17
and being perhaps in the technology
4:19
leader at the moment what’s next for you
4:21
because you’re already doing so much
4:22
very curious about what’s next for you
4:24
so look i think it’s a great way to stop
4:26
that answer is to rewind a little bit
4:28
and think back to the
4:31
the kind of problems we’ve been facing
4:33
uh in healthcare in general which we
4:35
address so we focused on price quality
4:37
service as everybody else’s
4:39
and we believe very strongly that the
4:41
notion of only being able to pick one or
4:43
two of those three metrics to succeed on
4:47
um was the binding constraint for most
4:49
of the last 20 30 years
4:51
we’re now in a position and we we see
4:53
the digitization
4:55
being able to break that paradigm where
4:57
we can achieve both lower cost of
4:59
service therefore lower prices on the
5:01
market
5:02
greater access to
5:04
healthcare greater service and then
5:06
through other various applications
5:07
greater quality in the market so we see
5:09
this as a huge move forward but we’re
5:11
very much focused on what those three
5:14
underlying dimensions mean for our
5:15
customers and our prospective customers
5:17
our policyholders and our subscribers so
5:19
that’s that’s kind of been a rolling
5:21
mission for us when we look at this in
5:24
terms of what’s next for us it’s really
5:27
everything is next to us right we are a
5:29
big enough player with a big enough
5:31
ecosystem that spans both direct patient
5:33
care all the way through providers
5:36
insurance and payers and farmers well
5:39
more recently so everything is next for
5:40
us and our role at the pingan global
5:42
voyager fund is to kind of come up with
5:45
those puzzle pieces externally that
5:47
would complement what is being developed
5:49
internally by our great ping our
5:51
technology division what would you say
5:53
has been one of the
5:54
sort of standout experiences perhaps
5:56
when you think about a customer in
5:58
mainland china perhaps in the health
6:00
business
6:01
you know what would you say has been a
6:02
you know stand out perhaps a new
6:04
customer type that you’ve been able to
6:05
ensure or something innovative in that
6:08
space what would be a good example there
6:09
i would give a big shout out to our
6:11
telemedicine platform right so being
6:12
able to take what was initially
6:15
something
6:16
almost 100 percent free to customers
6:19
essentially text input or point and
6:21
click on an app
6:22
and having that run mostly through ai to
6:25
be able to take that and move into
6:26
different segments of the market where
6:28
there is an ability to move beyond the
6:30
average four to five percent paying rate
6:33
for a telemedicine consult
6:35
that we would achieve without 70 million
6:37
plus monthly active users and move that
6:39
into more of an online concierge
6:41
medicine where we’re actually charging
6:44
12 300 remember a year for someone to
6:47
get essentially a private doctor
6:48
consider service but to have that
6:50
delivered online being able to move to a
6:53
model where even in the states where i
6:54
was working for 15 years before joining
6:56
ping on being able to get to consider
6:58
service there involves paying 25
7:01
thousand dollars a year for your family
7:03
being able to deliver that service at an
7:04
affordable price to middle-income family
7:06
in china i think that’s a huge advantage
7:10
once you have that as a customer
7:12
relationship you can then insert
7:14
multiple remote monitoring applications
7:16
their multiple infomediary applications
7:19
onto that but i think building that
7:20
bridge with the customer as a first step
7:22
that’s really been the standout thing
7:24
that that i hope makes it as a as real
7:27
as you’re keen to hear let me just jump
7:29
to jump to frank quickly because frank
7:31
um i mean acts are you know sort of
7:33
coming from i guess a very different
7:35
place than ping and you’ve got a longer
7:38
legacy in many different ways both
7:40
technology the organization and perhaps
7:43
your your customer base and the legacy
7:45
of decades and decades of policies
7:47
you know when you look at
7:49
what’s next for you
7:52
given the
7:54
sheer amount of stuff that just needs to
7:56
be done in some of the the traditional
7:58
big multinationals
8:00
what are some of your priorities you
8:01
know how and how do you make those calls
8:03
and and i guess this is very relevant to
8:05
your current role now next
8:07
yeah absolutely thank you mark for
8:09
asking it’s it’s it’s a it’s a good
8:12
question actually so so i think the
8:14
complexity is also coming from having
8:17
axa in 60 uh
8:19
in more than 60 countries
8:22
and as we know healthcare is delivered
8:24
quite
8:25
differently in those in those different
8:28
countries so
8:29
so i think uh one of the uh we share
8:32
more or less the same vision uh that
8:34
what has been said uh
8:37
uh previously
8:38
we one of our key mission is to
8:43
deliver affordable health care
8:46
for people driving the quality up and
8:49
the cost done
8:50
so that’s definitely
8:53
i think the the
8:56
the mission the commission for for for
8:58
insurance and we have the legitimacy to
9:01
uh to to do it
9:02
one of the our first uh priority in that
9:06
in that space is is definitely to
9:09
uh digitalize our customer journey um uh
9:13
and and this is getting more and more
9:15
traction since the kovid 19 situation
9:18
and for this we have we have for example
9:20
and i will try to illustrate
9:23
um
9:24
we’ve launched a companion app
9:27
in in hong kong and philippine
9:29
has a health
9:32
partner to add to our customer recently
9:36
but um
9:37
the second priority i would say and it
9:39
has is to be done
9:41
simultaneously is to deliver added value
9:44
services to our customers through
9:48
access entities uh uh for them to
9:51
deliver to their uh
9:53
customers and and patients but also
9:55
through partnership
9:57
uh for their clients or their employees
9:59
so uh uh for instance we’ve done
10:02
during kaveed a partnership with accor
10:06
uh hotel with 5000 hotels where we do
10:10
deliver medical assistance
10:12
to uh to their uh uh employees and
10:16
um and clients so that’s typically the
10:19
type of uh
10:21
added value services and um
10:25
marco was talking about telemedicine
10:27
this is one area where we do also
10:30
provide
10:31
some new services to uh to customers but
10:34
also again to
10:36
employees and to uh
10:38
clients of of partners so for instance
10:41
in france we’ve launched uh uh and we’re
10:44
delivering actually a telemedicine and
10:47
teleconsultations to uh
10:50
five million uh clients uh
10:53
so far
10:54
frank i just wanted to rewind
10:56
just slightly to things like you know
10:59
the core part of the business and things
11:00
like
11:01
the industry’s been talking a lot about
11:04
trying to do straight through processing
11:06
both of sort of customer onboarding and
11:08
underwriting but also the claims piece
11:11
and that appears to have been pretty
11:13
difficult for a lot of you know the big
11:15
multinationals i mean how how how far
11:18
along that particular journey are you
11:20
because it’s interesting that kind of
11:22
core customer experience and there’s
11:24
this other interesting
11:25
future looking innovation piece but on
11:27
that on that core area are you seeing a
11:29
lot of traction there
11:31
yeah we do
11:32
and notably uh from underwriting to
11:35
claims as you said there is a need
11:39
coming from the traction which is coming
11:42
from the from the customer them and
11:44
notably there is one key
11:47
topic around this which is
11:50
to to try to cover the full passion
11:52
journey and not only underwriting and
11:55
claims and that’s why we are coming with
11:57
this
11:58
telemedicine strategy
12:01
where we do build
12:03
buy invest and also partner with tech
12:05
players but this is where
12:08
from the symptom checker to appointment
12:11
booking to
12:13
a
12:14
teleconsultation
12:16
reimbursement
12:19
visits to a specialist etc it should be
12:23
completely
12:26
handled uh with with with additional
12:29
services and digitalization of the
12:31
journey great great awesome we’re going
12:33
to come back to one or two of those
12:35
points but but cole you can hear um from
12:38
both marco and frank and how important i
12:41
think the tele consulting piece has is
12:44
and i think that’s been a you’ll know
12:45
better than anybody how a big growth
12:47
area that’s been i mean tell us a little
12:49
bit about your
12:50
i’m interested in two or two things
12:52
really one is just give us a sense of
12:54
telling medicine teleconsulting where
12:57
where do you think it’s going to go next
12:58
because it sounds like it’s almost a
13:01
potential jumping-off point from just a
13:04
consultation to potentially into
13:06
wellness or preventative health or
13:08
remote monitoring it’s very interested
13:10
in that piece
13:11
and also very interested in what your
13:13
experience has been like working with
13:16
the insurers you know and what have you
13:17
learned from that experience
13:19
i think telemedicine’s kind of i don’t
13:21
want to say it’s a hoax
13:22
but i think all of the hype around it
13:26
uh
13:27
vis-a-vis
13:28
vis-a-vis utilization
13:30
um it’s been an awakening of something
13:32
that was coming for a long time
13:34
but it’s not really going to provide the
13:37
foundational change
13:39
that needs to happen in the insurance
13:41
industry to get better at i think you
13:44
were talking earlier about price quality
13:46
and service
13:47
and i think that’s right i think those
13:49
three variables are the key aspects to
13:51
look at
13:52
and and what i would submit to the
13:54
insurance industry as a whole
13:56
is is that we need to stop thinking
13:58
about features and start thinking about
14:00
foundations so what is the knowledge
14:03
architecture
14:05
that you’re going to use to onboard a
14:07
whole variety of features
14:10
and how are they all going to fit
14:11
together so that the consumer actually
14:15
has a better experience every time
14:17
and that there’s feedback loops built
14:20
into the overall
14:22
the entire value chain that makes the
14:24
insurer more efficient
14:26
so it’s really it’s not telemedicine or
14:29
gp checker or
14:32
physical exam or third party
14:33
administrator these are all important
14:35
aspects
14:36
but what you really got to build is a
14:37
foundation a knowledge architecture and
14:39
a foundation that allows all the data to
14:42
come in in a machine readable format
14:44
and then it flows all the way through
14:46
the claims data the entire patient
14:48
journey
14:49
if there is health and wellness that
14:51
data feeds back in so that the net
14:54
result is is that you have a learning
14:56
organization
14:57
so one of the biggest realizations that
14:59
i came to as i dug through the bowels of
15:01
many insurance companies in asia
15:03
is how truly siloed they are
15:05
how claims is in this division and
15:08
insurance broker and agents are here and
15:10
bank assurance is here and brokerage is
15:12
here
15:13
and
15:14
they’re not actually learning from each
15:16
other they’re not growing there’s no
15:17
synergy there’s nothing driving you want
15:19
to know the major reason we have medical
15:21
inflation it’s because there’s no
15:23
there’s no data feedback loops that
15:25
drive competition in the system
15:28
and and i mean i can dig more into that
15:30
but so i think at a high level
15:32
what we need to be thinking about is
15:33
building digital processes for a digital
15:36
age and not taking analog processes and
15:39
just bringing them over to www.analog
15:42
and and what i mean by that at a higher
15:45
level
15:45
look at amazon
15:47
amazon’s cheaper
15:49
amazon has better inventory amazon has
15:52
better logistics amazon has amazing
15:54
customer service
15:55
they’re able to do all of that because
15:58
they digitize the whole journey and that
16:00
allows them to have feedback loops that
16:02
make everything more efficient
16:04
so the whole thing ends up being better
16:06
and i love what you i love what barca
16:08
was saying about ping on i think the
16:10
first group to actually create the
16:12
underlining foundation to tie these
16:15
pieces together
16:16
will actually be better at everything
16:18
it’ll be a fundamentally better
16:19
mousetrap
16:20
and i think that journey looks something
16:22
like
16:23
telemedicine
16:24
triaged into physical exams triaged into
16:28
deep provider analytics uh around
16:30
specialty specialty steerage
16:32
transitioning right into third party
16:34
administration or tpas or claims
16:37
processing
16:38
done with deep knowledge analytics so
16:40
all of the data is coming in in a
16:42
machine readable format
16:43
and then from there
16:45
going right back into dr steerage to
16:48
help on telemedicine to help on
16:50
specialty consultation but it’s the
16:52
feedback loops that are critical
16:54
you know i think ping on did an amazing
16:56
job of going big early with ping on good
16:58
doctor i mean i think what was ping on
17:00
good doctor series 8 was a half a
17:02
billion dollars like that’s amazing to
17:05
have an insurer think that big let me
17:07
just interject let’s ask marco i’m
17:09
curious marco
17:11
pinghan’s often held up as you know the
17:13
the best perhaps you know in terms of
17:15
technology in terms of what cole’s just
17:17
described you know almost a complete
17:19
view and a complete data capture all the
17:21
way through from onboarding
17:23
to
17:24
uh you know the hospital visits the
17:25
claims the med the meds you’ve been
17:27
prescribed how much of that journey do
17:30
you understand at pingham do you have
17:32
the whole lot or there’s still bits
17:33
missing for you so i think you know
17:35
where we are advantage is through a uh
17:38
getting on for a decade old partnership
17:40
with discovery of south africa in our
17:42
own market leading health insurance
17:43
business in china right so it’s
17:45
obviously still a very small component
17:47
of the overall payers which are
17:49
predominantly government and out of
17:50
pocket but having discovery around with
17:53
the vitality program um we we have
17:55
always felt uh advantages us because of
17:58
that deep knowledge of you know to
18:00
cole’s point of being able to affect
18:02
post enrollment post subscription the
18:05
behavioral choices through incentives
18:07
and behavioral economics so i think on
18:09
that part i think we are good in terms
18:11
of remote monitoring i think it’s a work
18:13
in progress we would really love to be
18:15
able to offer our more than 10 million
18:18
subscribers and health insurance the
18:19
kind of suite of all different
18:22
validated and approved
18:24
and and shown to produce benefits for
18:27
both sides the kind of tools that are
18:29
out there in the market that we’re
18:30
scouring around in in the venture
18:32
capital land um i think that is still a
18:34
work in progress and i’m sure frank will
18:36
agree that you know we we always want to
18:38
be able to help our customers more we
18:39
don’t want to be intrusive we don’t want
18:40
to monitor them in a way that
18:42
is more to our benefit than their
18:44
benefit we want to make sure that
18:45
there’s a real alignment there
18:47
especially for chronic diseases i’m very
18:49
heartened by what i see on our
18:51
telemedicine platform and in our elderly
18:53
care services elsewhere in the group
18:55
which is really trying to make sure that
18:57
patients who do suffer from diseases
18:59
where the kind of daily monitoring
19:01
technology enabled monitoring chatbot
19:03
access
19:05
is going to help them so i think where
19:07
we have that that vision
19:09
um that that call articulated and i
19:11
think for all of us in this industry
19:13
right we are we’re working hard to build
19:15
that out um no one i think not even in
19:17
america i mean if you want to be brutal
19:20
about it not even amazon itself was able
19:22
to get this thing happening for its own
19:24
employees um in the three-year
19:26
partnership with jp morgan and berkshire
19:28
hathaway so it’s it’s tough for everyone
19:30
even in hyper-developed markets it’s
19:32
going to be tough for us i think as long
19:33
as we have that vision we’re in a good
19:35
place to see that through if the
19:37
customer journey becomes digitized if um
19:41
more of that information there’s a
19:42
familiarity with what you’ve been
19:44
prescribed maybe you can start to
19:46
compare that to other people being
19:47
prescribed
19:49
something similar have a similar kind of
19:50
complaints and then you can do do you
19:52
see
19:53
do frank or marco do you see
19:55
that happening in terms of better price
19:58
transparency maybe almost price
20:00
competition between providers
20:02
um
20:04
for patients
20:05
yeah i think it is market specific uh
20:07
for sure and it will be on the
20:09
transparency of data and how far
20:12
people are
20:13
willing to share um if we look at the
20:17
setup that has been
20:18
put in place in israel for instance 20
20:21
years ago where they have 20 years of
20:24
of data passion data actually available
20:28
for an ecosystem of startup to develop
20:30
on that
20:32
specific features due to this data for
20:35
instance if you take uh a sample of your
20:38
blood in in
20:40
now
20:41
in france you just have statistically
20:43
the statistic vision of where do you
20:46
stand now but you don’t have the the
20:48
other three or four or ten um uh
20:52
blood testing that you’ve done for the
20:54
last 10 years so you don’t have your
20:57
progression on on on that which is
21:00
bringing
21:01
new type of uh actually um
21:04
uh
21:05
uh
21:06
data to to to be analysis uh uh if if
21:10
you see uh what i mean so so i think the
21:13
setup in terms of data it’s quite uh
21:16
different uh across different countries
21:19
but if we uh look at what uh
21:22
coal is doing with duckduck it is really
21:24
an amazing job to
21:27
have this
21:28
uh database and
21:31
and and comparison to uh
21:34
quality and price and and uh i cannot
21:38
agree more uh with what has been said by
21:41
michael this is definitely
21:43
where we should look at and and and try
21:45
to find a way to uh uh deliver this uh
21:48
these services to the uh uh caregivers
21:52
uh but also to uh to to insurance i i’m
21:55
gonna move this on in a second but i
21:56
just wanted to just one point the tpas
22:00
um
22:01
how big at frank probably for you you
22:03
know
22:04
because the traditional insurers have
22:05
had the sales force and there’s also the
22:08
tpas
22:09
um
22:10
both of which are sort of interfaces at
22:12
various points in that customer journey
22:14
and actually perhaps make data
22:16
collection
22:17
harder
22:19
are you finding that is the case at axa
22:21
and
22:22
how do you get over that barrier around
22:24
that complete data driven view of the
22:26
customer yeah no so um having a tpa
22:29
doesn’t mean that um
22:32
we don’t have access to some uh to some
22:34
uh
22:35
data so so
22:38
i think
22:39
we’re talking here about uh the capacity
22:43
the data analytics capacity that need to
22:46
be enhanced for sure on all those type
22:48
of uh different sets of of data which
22:52
might not be the case of today so
22:54
there is a data itself and there is the
22:57
capacity to uh to do the
23:00
and to provide algorithm and and and
23:03
with machine learning model modalization
23:05
etc etc so so for me we’re talking about
23:08
an additional layer on top of it but
23:10
definitely yeah this is something that
23:12
we’re uh working on we’ve been doing
23:15
some uh for instance partnership with
23:17
shift technology which is doing uh
23:22
fruit detection for instance with a lot
23:24
of
23:25
data analytics capacity uh shift has
23:28
been created within axa i would say a
23:31
long time ago and we’re working with
23:33
them with more than in more than 15
23:36
markets so
23:38
that’s exactly the type of
23:41
companies and and and tech players we’re
23:44
looking at
23:46
very interesting discussion
23:48
let me just leave um
23:51
ask you a final question really which is
23:52
around
23:54
um actually the importance of
23:55
partnerships importance of companies
23:57
like dot doc
23:59
in your overall you know view of
24:01
building a health ecosystem and
24:03
digitizing that customer journey
24:05
uh marco i i can guess perhaps what
24:07
you’re going to say but how important
24:09
are those partnerships in in ping adam
24:11
and what you’re going to do next
24:13
i think they’re crucial and i think
24:15
everyone on the panel will agree
24:16
i think you know we’ve been talking for
24:18
the last half an hour just about how we
24:21
we optimize or make incrementally better
24:24
a
24:25
function which seeks to help patients
24:27
bear the risk of stochastic health care
24:29
events right
24:30
and you know if we get that completely
24:33
done through partnerships paul people
24:35
like coal with people like rosalind ku
24:37
in in cxa in southeast asia um we still
24:41
have a lot of work to do in terms of
24:43
shifting risk within the healthcare
24:44
ecosystem two players like frank and i
24:47
who who come from a background where
24:49
we’re here to bear risk right so the
24:51
performance guarantee for a provider
24:53
system vis-a-vis a payer or a patient
24:56
those are risk pools that currently are
24:58
not served by anyone that we could serve
25:01
um the risk pools around performance
25:03
guarantee for a midtech sales force into
25:05
a hospital delivery system so i think
25:07
there is a lot of things we can do
25:10
in this ecosystem along the lines that
25:12
you’ve talked about
25:13
with partnerships and that that is an
25:15
exciting part i think that keeps frank
25:17
and i
25:18
on our toes looking around for the the
25:20
next opportunities to add values to to
25:22
every side of this equation yeah great
25:24
uh and frank at next you know what’s the
25:27
balance for you in terms of internal
25:28
build versus external partnerships so
25:31
within axa
25:33
next we have you know the build capacity
25:35
the buy capacity the the investment
25:39
capacity and the
25:40
partnership each topic has to be uh
25:43
studied and then for for this type of
25:46
features we think that we can build it
25:48
on our own or build our own startup
25:51
for this one we definitely need to
25:53
partner uh for
25:57
luke we have invested
25:58
recently in a company called capital
26:01
delivering
26:02
services to caregivers in hospitals and
26:06
to patients in hospitals so that for
26:08
that one it was an investment in into
26:10
the company and then we had them to
26:12
scale
26:13
i think everything has to find the right
26:16
uh uh scale
26:18
uh which is uh today our main focus
26:22
and uh yeah we are happy to to partner
26:24
with the with the specialists uh on the
26:27
market with the best specialist that is
26:29
uh that are bringing added value to the
26:32
ecosystem uh of all
26:34
but cole mentioned a point which i
26:36
believe it’s important we need an
26:37
infrastructure at some point and and and
26:40
uh insurance company could be this uh
26:43
yeah this uh this backbone and and we
26:45
can
26:46
find a way to plug different uh things
26:48
the purpose of all of this again is to
26:51
bring affordable care
26:52
um
26:54
in may maybe like fight in the
26:56
financially inclusive way so we also do
26:59
partnership with western union for
27:01
instance
27:02
where
27:04
we can bring healthcare services to a
27:06
population that were underserved uh uh
27:09
by the past there is many ways of
27:12
bringing uh
27:13
healthcare
27:15
to um
27:16
to uh to new people and also to handle a
27:19
new type of risk related to that okay
27:22
and cole um
27:24
as an external person looking at the
27:26
insurers
27:28
what would be sort of your number one
27:30
thing on your wish list that you wish
27:32
the insurers would uh would move to next
27:35
i you know i’m
27:37
so i think we started doc doc a few
27:39
years too early
27:40
and it was through grit and
27:42
determination that we got where we are
27:44
um because we were a bit early to this
27:46
party this party’s only just starting
27:48
we’re in the first inning of insurers
27:50
starting to actually even begin to frame
27:53
the nature of the problem that they’re
27:55
dealing with
27:56
to learn how to steer medical intent to
27:58
start understanding what the knowledge
28:00
architecture needs to look like for the
28:01
data to flow through to start thinking
28:03
about how wearables will fit into that
28:05
knowledge architecture how behavioral
28:07
science fits into it we’re in the very
28:08
early days
28:10
so i feel like you know buddha says the
28:12
universe is perfect and it’s our
28:14
perception that’s flawed and i think
28:17
that’s totally accurate and i’m right
28:19
where i’m meant to be the company’s
28:21
right where it’s meant to be and we’re
28:22
making great traction so i i’m not you
28:25
know i’m optimistic you know covid has
28:27
been terrible for the world but it’s
28:28
been great for health tech companies
28:31
that are trying to overcome
28:32
organizational inertia and insurance
28:35
and so
28:36
you know i’m very very optimistic in
28:38
what we’re doing
28:39
and if i look back in retrospect it
28:42
couldn’t have been done any other way
28:44
you know i had to believe eight years
28:45
ago we were on the doorstep of epic
28:48
success or i wouldn’t have done this
28:50
and so it’s just you know overnight
28:53
success 20 years in the making
28:56
great well on that positive note we are
28:59
out of time gentlemen frank marco cole
29:02
thank you very much for your time
29:04
um i hope to meet some of you in person
29:05
one of these days but um thanks for
29:08
thanks for your time
29:13
[Music]
29:16
you