19 March, 2018 09:45
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While giants like Apple, Google and Amazon will invite gradually in the health care industry and insurance, create partnerships with them could prove to be a good business opportunity, says the firm’s data and analysis GlobalData.
“These companies have all set foot in the industry in recent months with a variety of initiatives focusing on technologies,” the report says. These initiatives will create waves in the industry, and existing providers will have to quickly decide how to respond to it, adds the firm.
The insurance industry is “nervous”
These tech giants have powerful brands and influential, recalls GlobalData, hold masses of data consumers and resources, and are known to deliver unparalleled customer experiences. Create partnerships with these suppliers could be the key to the players of the insurance industry, although these companies may be perceived as threats, the report said.
“The insurance industry follows nervously in the activities of the players with alternative potential,” says Danielle Cripps, an analyst at GlobalData. It is uncertain in what area of insurance they will take or when they will do it, but it was clear in the last few months that the tech giants are interested in the u.s. market for health care. “
The giants are close
In fact, last January, Amazon announced a partnership with Berkshire Hathaway and JPMorgan to create a business of health care for its u.s. employees. In addition, Apple has updated its application of health, allowing its us customers to follow a crowd of medical data. The company also announced that it is preparing to launch a network of medical clinics for its employees and their families in the spring of 2018.
Also, GlobalData reports that the company’s sister-in-Google, Verily, would be in talks with insurers to bid for insurance policies.
“The race on the u.s. market for health care is actually begun from alternative suppliers, and each has a different approach,” says Ms. Cripps.