Συντάκτης: admin

SuchApp and WishKnish are coming together to be the first to introduce an insurance marketplace that operates on the blockchain. This collaboration will see SuchApp – the innovative blockchain-powered messaging platform – and WishKnish – the decentralized network of gamified, coin-agnostic, social marketplaces – joining forces to co-develop a decentralized business ecosystem that makes insurance management more efficient for both insurers and customers.

“The global insurance market is growing by leaps and bounds in both developed and developing markets. The global insurance premium is currently worth more than $5 trillion USD, and while premiums and insurance capital are growing, so is the demand for better customer service,” said Ronny Shany, CEO of SuchApp and co-founder of HighTV. “Our goal at SuchApp is to create a global insurance marketplace that increases customer service and communication between clients and adjusters, while integrating the features of WishKnish in order to provide a secure and convenient marketplace that benefits both the business and the customer.”

SuchApp’s 5G blockchain-enabled realtime messaging platform empowers businesses to engage with customers. With SuchApp taking the first step into the global insurance market, the company intends to expand upon their current business model by creating an easy-to-use platform where:

Customers can buy insurance policies using SuchApp’s SPS Token, a digital currency operating on the ERC20 protocol.

Customers and insurance companies can manage policies instantly over the SuchApp platform.

Insurance adjusters can use SuchApp to create customer service groups to address claims and any other relevant issues.

Location-based messaging that gives insurance companies the opportunity to focus specifically on local markets.

“We are both proud and excited to see our technology being used to advance mainstream blockchain adoption,” said Alisa Gus, the CEO of WishKnish. “By providing a secure, decentralized platform that increases transparency and is protected against failure and tampering, we are able to leverage blockchain technology to ensure customers and insurance companies are better protected against fraud.”

Insurance companies operating on the two companies’ platforms get access to all of their combined feature sets, like SuchApp’s innovative personal and group VOIP conferences and WishKnish’s marketing and promotional tools as well as SuchApp’s fully functional loyalty programs. All correspondence over SuchApp’s platform is fully encrypted, meaning that sensitive information is protected against outside threats, while WishKnish Storefront technology ensures that customers can be incentivized towards behaviors and actions that benefit them and their community and payments are handled in a coin-agnostic fashion.

SuchApp aims to corner a portion of the global insurance market that is looking to insurtech companies that are challenging the way traditional insurance businesses have operated. WishKnish continues to expand its global businesses in retail commerce and Blockchain As A Services (BaaS) to bring their customized Blockchain solutions to corporate and Government clients.

In this collaboration, the two companies intend to solidify their position as a multi-faceted business tool that enables insurance companies to stay connected with customers, create marketing campaigns, and expand their customer base.

Burns & Wilcox, North America’s leading wholesale insurance broker and underwriting manager, today announced its official sponsorship of Justin Abdelkader, alternate captain and left wing of the 11-time Stanley Cup Champion Detroit Red Wings.

“Justin Abdelkader’s leadership on and off the ice match the distinctive, competitive qualities of the more than 2,000 associates at Burns & Wilcox,” said Alan Jay Kaufman, Chairman, President and CEO, H.W. Kaufman Group, parent company of Burns & Wilcox. “Results must be demonstrated on a consistent basis – whether entering the arena or the board room – to stay at the top of the game, and we welcome him to Team Burns & Wilcox.”

Justin Abdelkader and Burns & Wilcox both share another important trait – they originate from Michigan. Since its founding in 1969, Burns & Wilcox has remained dedicated to the state and has grown into Michigan’s largest insurance company, a global powerhouse with 60 offices across the United States, Canada, and the United Kingdom.  

“The support of a strong, family-focused organization and partner like Burns & Wilcox is exciting and I am proud to be a part of their team,” said Abdelkader.

In September 2017, Burns & Wilcox cemented an official partnership with the Detroit Red Wings. The company’s logo is visible at center ice of the new home of the Detroit Red Wings, Little Caesars Arena. Abdelkader is the third professional sports ambassador for Team Burns & Wilcox, alongside golf’s 2012 U.S. Open winner Webb Simpson and 2016 PGA champion Jimmy Walker.

– Company’s focus is on helping franchisees build enterprises –

Brightway Insurance provides its franchisees with turnkey business support, empowering them to build world-class sales teams that focus on new policy sales. As a result, Brightway franchisees routinely outsell their competition three-to-one.

The company began franchising in 2008 and, until now, offered its franchisees the opportunity to open one Brightway insurance store. Effective immediately the company is changing its offering. Now, for the same franchise fee of $60,000, franchisees have the right to open two Brightway stores. 

Chairman and Co-Founder Michael Miller said: “Our jobs are to help our franchisees achieve their potential through franchising with us. One way is through Multi-unit Ownership, so we’ve made this change to make growing their enterprise easier.”

“This is a win-win,” Miller said. “It empowers our franchisees to own multiple stores, helping them be even more successful and it helps to build the Brightway brand even faster.”

Are you likely to become a victim of an auto insurance scam one day? Very likely, and because those scams are perpetrated regularly on unassuming drivers, GEICO has recommendations that could help prevent you from becoming one of those victims.

Scams or insurance fraud schemes are committed by criminals every day and can happen anytime during the claims process. One of the most common auto insurance scams involves staged accidents. Staged accidents will typically involve multiple vehicles and several people in various scenarios.

In part one of the classic “swoop and squat” staged accident, the criminals use a primary vehicle and a blocker vehicle. The primary vehicle swoops in front of the victim car and slams on the brakes, hoping to cause a rear-end collision. The blocker vehicle travels alongside the victim’s vehicle to prevent the victim from swerving to avoid the crash. In part two, during the confusion directly after the accident, multiple people are likely to appear and disappear from the scene and make false injury claims, adding to the overall cost of the claim.

“If you suspect you’re being scammed, contact the police or your insurance company,” said Douglas Shiring, director of GEICO’s special investigation unit. “And knowing a few ways to protect yourself could help you avoid a potential auto insurance scam.”

Shiring recommends:

Call the police to the scene – Beware of anyone who is anxious to leave quickly before police arrive.

Document with photos – Take photos of all the vehicles involved and the accident scene, license plate numbers, witness information and any other facts you think might be important.

Beware of unsolicited tows – Be wary of tow trucks that arrive on the scene without anyone having called for the service. GEICO has a local tow provider list to assist policyholders.

Do not tailgate – Criminals will brake unexpectedly to cause an accident. Look out for vehicles that brake suddenly for no apparent reason.

Count parties involved – Note the number of occupants in each involved vehicle. The number of claimed injuries may increase from the actual number of people involved.

Beware of fake injury claims – Be cautious of physicians who insist you file a personal injury claim after an accident, especially if you are not hurt. He added, “In fact, be aware of any service providers and professionals that seem to appear out of nowhere and suggest medical and legal services.”

Humanitarian Awards Presented to UK Health Secretary and Parrish Medical Center VP for Recent Efforts to Improve Patient Safety

President Bill Clinton sat down for a question and answer session with Joe Kiani on Day Two of the 6th Annual World Patient Safety, Science & Technology Summit, Co-Convened by European Society of Anaesthesiology. (Photo: Business Wire)

How would US President Clinton change healthcare if he were President of the United States today? That was one of many questions answered as the 42nd President of the United States met with healthcare leaders at the 6th Annual World Patient Safety, Science & Technology Summit, Co-Convened by European Society of Anaesthesiology. President Clinton’s captivating keynote and a special humanitarian award presented to UK Health Secretary, Jeremy Hunt, and VP of Nursing of Parish Medical, Edwin Loftin, were among the highlights at Day two of the World Patient Safety, Science & Technology Summit.

Medical experts, CEOs and patient advocates gathered to tackle the latest challenges in patient safety. Featured panels discussed reducing the growing number of unnecessary C-section births, eliminating infant deaths and how the future of healthcare technology certainly means interoperability of medical devices and information systems to prevent medical error.

PRESIDENT CLINTON DELIVERS KEYNOTE

Entering the room to a raucous standing ovation, President Clinton asked those assembled to focus on the sum of their collective efforts to eliminate preventable deaths in hospitals which could promise a better future for many generations.

“I’ve lived long enough to know that in every endeavor there are no permanent victories and no permanent defeats. All there is, is the permanent gift of choice and life,” President Clinton began.

He encouraged everyone in all aspects of the healthcare field, from CEOs to medical experts and patient advocates, to focus on the results of their efforts stating, “Everything we do gains more meaning when we give the simple gift of one more day to other people.”

Adding upon the messaging of the World Health Organization’s Director-General, Dr. Tedros, President Clinton encouraged attendees to continue the serious work of eliminating preventable harm and begin focusing on helping the movement spread into the developing world. Before ending his keynote, the President sat down for an onstage Question and Answer Session with Patient Safety Movement Foundation Founder, Joe Kiani. He discussed the state of the US Healthcare Industry, Insurance companies and even what he would do as President.

“I think the healthcare budget should be organized around the biggest problems and the biggest opportunities,” explained President Clinton. “We’ve made some progress in this but if we look at other healthcare budgets, Medicare, Medicaid and the VA, they are largely organized to serve the street population. On the surface, that’s good. But if you know you’re missing the larger opportunities, for example, in premature hospital deaths, then I think we should do that.”

ANAESTHESIOLOGY LEADS THE WAY

Summit co-convener, the European Society of Anaesthesiology, President Stefan de Hert opened day two with an examination of perioperative safety. The field of anaesthesiology has experienced radical increases in patient safety. Over the last 25 years, anaesthesia-related deaths have decreased from 1 per 5,000 to 1 per 300,000! Prof. De Hert underscored safety in the field and the critical role of anaesthesiologists in perioperative care.

To reach the highest safety standards, Prof. De Hert stressed the importance of customized care and the need for adequate financial and human resources in providing practical tools. Prof. De Hert used the ESA – EBA Helsinki Declaration on Patient Safety in Anaesthesiology as the shared European view of what is necessary to improve patient safety and recommended practical steps that all anaesthesiologists can include in their practice.

1. HON. JEREMY HUNT AND EDWIN LOFTIN AWARDED PATIENT SAFETY’S HUMANITARIAN AWARDS

Day Two concluded with the presentation of the annual Humanitarian Awards given to those who have done the most recently in the area of patient safety. This year, the awards honored the memory of Beau Biden and Steven Moreau for their impact on and devotion to public service.

As Attorney General of Delaware and as a Member of the Army National Guard, Beau Biden devoted his life to public service. As Attorney General, Beau dedicated himself to the safety of others, especially children. In his honor, the first Beau Biden Humanitarian Award was presented to Rt. Hon. Jeremy Hunt. Secretary Hunt has proven that patient safety is at the center of his work. He has created patient safety laws that are leading the world in eliminating preventable deaths in NHS hospitals and has set an example to the world.

“Since 2013, Jeremy Hunt has worked tirelessly to improve patient safety and develop a culture of openness and transparency in the National Health Service. Under Secretary Hunt’s leadership – the NHS in England became the first healthcare system to report and publish the number of preventable deaths by individual hospitals on a quarterly basis – and then publish key learning and improvements made to eliminate preventable deaths on an annual basis. His work in implementing independent investigations of medical errors include elements of the CANDOR program as developed by the Agency for Healthcare Research & Quality (AHRQ) which has been proven to reduce serious patient safety events by about 65%,” said Joe Kiani, Founder and Chairman of the Patient Safety Movement Foundation.

Mr. Kiani continued, “In 2017, Secretary Hunt championed a bill which for the first time, established a fully independent investigations body that seeks to find answers in the event of a medical error instead of laying blame. His passion for patients and their families did not stop at the border of UK. Secretary Hunt created the Global Ministerial Summit on Patient Safety, where he invited all of his colleagues from around the world to learn and act, to fix the patient safety problems that are causing over 3,000,000 preventable deaths a year around the world. The third Global Ministerial Summit on Patient Safety will be held in Tokyo in middle of this April. On day one of the 2018 Summit, Secretary Hunt announced groundbreaking new measures to improve patient safety in the NHS which are projected to save 22,000 lives annually in the UK.”

The second humanitarian award given was given in the name of Steven Moreau, the late CEO of St. Joseph’s Hospital in Orange and a Board Member of the Patient Safety Movement Foundation. Steve dedicated himself to helping others whether it was through work or gifts of time. He was responsible for leading the development of their renowned centers of excellence in cancer, heart and vascular, orthopedics, and was an unrelenting advocate for eliminating preventable harm in hospitals. The first Steven Moreau Humanitarian Award was presented to Edwin Loftin, VP of Nursing at Parrish Medical Center in Florida.

“Edwin first became involved with the Patient Safety Movement in 2016, and when he did, he and Parrish Medical Center, joined with great enthusiasm. At the time, Parrish made so many commitments to implement processes that were proven to reduce medical error that our staff believed it was an error. However, when we spoke with Edwin, his response was “why wouldn’t we make all these commitments.”

Known for cultivating person and family-centered care in hospitals, Edwin led Parrish Medical Center’s efforts to become the first in the nation to implement all APSS. This year, Parrish Medical Center became the first hospital in the world to receive the five-star hospital rating from the Patient Safety Movement Foundation, due to their commitment to patient safety by implementing all of the PSMF processes known to prevent medical errors from becoming fatal. For more information, please visit www.patientsafetymovement.org.

Competition and customer demands for convenience and personalization are transforming financial services—and creating new opportunities for FinTechs to collaborate with traditional financial firms

The rise of FinTechs1 continues to revitalize the financial services customer journey; however, many startups have realized they will struggle to succeed alone. With complementary strengths, FinTechs are increasingly looking to symbiotic collaboration with the traditional financial services firms they once sought to overthrow, according to the World FinTech Report 2018 from Capgemini and LinkedIn, in collaboration with Efma. The report examines how FinTechs are transforming the financial services customer journey through better customer centricity and use of emerging technologies; the potential for symbiotic relationships between FinTechs and traditional financial institutions; and the impending role of BigTechs2 in financial services.

FinTechs drive revitalization of the financial services customer journey

FinTechs, innovating with emerging technologies, are revitalizing the customer journey through financial services. Competition and rising customer expectations are driving demands for more convenience and personalization. FinTech firms are leveraging both customer data to drive personalized offerings, and providing fast, 24/7 online services that can be accessed from any device.

However, financial services customers have greater trust in the brands of traditional firms versus those of FinTechs, according to the World FinTech Report 2018. For future success, financial services firms must look to continue aligning with customer goals, maintaining trust, and delivering digital, agile, and efficient processes.

“FinTech firms are finding success with a customer-centric focus that fills in gaps left by traditional firms. These gaps opened the doors to FinTechs, but trust in traditional firms remains important to customers,” said Penry Price, Vice President, Global Marketing Solutions, LinkedIn.

Win-win collaboration opportunity

Unburdened by legacy systems and old-school culture, FinTechs have leveraged new technologies to rapidly respond to customer demands. In fact, the World FinTech Report 2018 found that more than 90 percent of FinTech firms said agility and providing an enhanced customer experience are key to competitive advantages, and more than 76 percent cited their ability to develop new products and improve existing products and services as critical to success. The challenge is to scale-up and create financially-viable business models. Although FinTechs have raised nearly US$110 billion since 2009, the report found that most are likely to fail if they do not build an effective partnership ecosystem.

At the same time, traditional financial institutions are adopting many FinTech customer service enhancements, while retaining strengths including risk management, infrastructure, regulatory expertise, customer trust, access to capital, and more. Both traditional and FinTech firms stand to gain from a symbiotic, collaborative relationship.

“With more than 75 percent of FinTech firms identifying their primary business objective as collaborating with traditional firms, it is essential that both FinTechs and traditional firms transform their business models by collaborating to drive innovation while retaining customer trust,” said Anirban Bose, Head of Capgemini’s Financial Services Global Strategic Business Unit and Member of the Group Executive Board. “Without an agile and committed collaboration partner, both traditional and FinTech firms risk failure.”

Finding the right partner is essential to successful collaboration

This year’s report found that collaboration will be essential to foster long-term success for both FinTechs and traditional financial firms. A successful collaboration is contingent on finding the best partner and engagement model. To develop strong partnerships, firms will have to overcome barriers to collaboration.

According to the World FinTech Report 2018, more than 70 percent of FinTech executives said their top challenges to collaborating with traditional financial firms was their lack of agility, while traditional firms perceive negative impacts on customer trust, brand, and changing the internal culture as their top challenges.

“For a successful collaboration, both sets of firms will need to remain open-minded and keep a dedicated focus on collaboration. Financial institutions need to respect the FinTechs’ culture to avoid losing their agility, which is one of the major assets that they bring to projects. The next challenge will be to select the best fit FinTech with whom to collaborate,” said Vincent Bastid, Secretary General at Efma.

Looking ahead: accelerating collaboration and preparing for the future

The future of financial services is in the hands of both the FinTech and traditional firms that can complement each other’s strengths to meet customer needs and redefine the journey. To help financial services firms accelerate collaboration and foster symbiotic relationships, Capgemini launched a ScaleUp Certification tool. This tool creates a model for collaboration and mutual verification that encourages partnership between traditional firms and FinTechs. While the great unknown is the disruption that will come from BigTechs—the large, multinational technology firms with a huge retail customer base, what is clear is that now is the time for FinTechs and traditional firms to find the right collaboration partner and redefine the path to success.

Shortly after each medical appointment, your health plan sends out an Explanation of Benefits (EOB) that is supposed to clarify how costs for services are split between you and your insurer.

But the EOB isn’t as enlightening as some insurers might hope it to be. It’s often difficult to parse out what was paid, what was reduced due to provider contracts and – more importantly – what part of the cost is your responsibility.

Now, a survey from Vitals finds that about 1 in 3 health care consumers feel either confused, frustrated or downright angry after receiving an EOB. Most people who’ve called their health plan or doctor about an EOB said they didn’t know what amount was paid by their health plan and what amount was their responsibility.

Surprisingly, despite EOBs being referred to as the “THIS IS NOT A BILL” letter (the words splayed across the top of the mailer), almost 30 percent of consumers still weren’t sure if their EOB is a medical bill.

Part of the confusion stems from the fact that there are no industry standards with regards to what information a patient should receive in their EOB. Some include procedure names, some include procedure codes, some don’t include any at all.

The lack of standardization makes it hard for consumers to dispute or even clarify bills when comparing them to their EOB. And it creates an environment where consumers become apathetic, rather than engage in their health care. Indeed, one out of 10 surveyed said they treat their EOB like junk mail – and just throw it out.

That’s a bad move, considering a group of auditors hired by insurance companies found errors in over 90 percent of the hospital bills they examined. An audit by Equifax found that hospital bills that totaled more than $10,000 contained an average error of $1,300. That money often comes out of consumer’s pocket!

With consumers on the hook for more of their health care, they need to be educated about how to navigate medical costs – both before and after a medical event. At the same time, the industry needs to become more consumer-centric, as well. Sixty-percent of consumers agreed or strongly agreed that they wished their doctor or insurance company would explain how medical billing works.

“Contrary to popular belief, high-deductibles and health savings accounts (HSAs) alone won’t create empowered health care consumers or functional health care marketplaces,” said Mitch Rothschild, Founder and Chairman of Vitals. “Stakeholders across the health care ecosystem need to innovate, remove friction points and design products and processes that are easy-to-use, convenient and value-priced.”

According to the survey, incumbents can start by simplifying the information included in that document. Young adults would like to see their EOBs emailed or available in a mobile app.

Indeed, there’s increased pressure to create better consumer experiences based on recent industry headlines. With 83 percent of Americans living within 10 miles of a CVS and 50 percent of households subscribed to Amazon Prime, traditional health care providers need to rethink their consumer touchpoints –including EOBs – to retain customers.

Vitals enterprise solutions, which include the VitalsChoice transparency platform and Vitals SmartShopper incentive and engagement program, help consumers find high-quality, lower-cost care through web-based tools and concierge-style services. Vitals partners with health plans and employers to engage and incentivize consumers to shop for health care and ultimately reduce costs for all.