PERSPECTIVES

How Digital is Redefining the Future of Health Insurance

2021-05-12


In the post-pandemic world, payers find themselves uniquely positioned to leverage technologies to spur innovation and efficiencies.

Payers emerged from the pandemic relatively unscathed, but as businesses move to digital channels, their mandate is clear: deploy advanced technologies to create efficiencies, generate revenue, and spur innovation to meet customer needs.

Chatbots, the Internet of Things (IoT), and big data have emerged as top focal areas for payers, with many achieving wide-scale implementation. Nevertheless, the industry’s leaders in the U.S. typically use digital in ways that transcend cost savings. With machines to supplement and in some cases, extend human work, many payers are well-positioned to do just that.

Cognizant’s Center for the Future of Work (CFoW), working with Oxford Economics, recently surveyed 4,000 C-level executives globally, including 50 senior healthcare payers in the U.S. to understand how this agenda is moving forward. Here’s what they told us.