INTEGRATED DIGITAL FINANCIAL SERVICE MODELS FOR FINANCIAL AND HEALTHCARE ACCESS

to healthcare, Insurtech has extended the reach of financial protection through underlying digital technologies (data analytics, blockchain and artificial intelligence) deployed for enhanced underwriting of healthcare insurance products and plans, risk assessment, claims management, improved user experience and distribution.33

We conducted a global landscape study of existing DFS for healthcare models using available public sources of information, complemented by interviews with DFS for healthcare innovators. We hosted two roundtable discussions with Central Banks who are members of AFI, where we presented initial insights from the study and solicited their feedback on the applicability of these insights to their regulatory decision making.

From April2021-June 2021, eighty-seven companies with DFS for healthcare models were found across five regions of the world. These companies offered a total of 114 DFS for healthcare solutions, representing 10 different types of digital models. The most prevalent services offered include general healthcare, maternal and child healthcare services, and chronic disease management. Since 2020, some DFS for healthcare solutions started offering COVID-19 death, disability and adverse events-related products and services. Overall, 43 worked in claims and reimbursements, 56 in billing, eight in patient management and three offered a distribution platform for healthcare products and services. Seventy-one percent targeted the patient directly, 20 percent work with the payor, and nine percent work with providers or clinics.

Of the 87 companies with DFS for healthcare models, 17 offered products or services specifically for women.