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The economics of travelling beyond insurance

reconsidering the nature of insurance by expanding coverage to new segments

Older and younger individuals, despite presenting opposite characteristics, are segments with high economic and, simultaneously, social potential; equally complex and innovative for an insurance group.

This paper aims to present a practice already experimented by Vision&Value, which has succeeded in making “inclusivity” an opportunity for value generation and even anticipating some trends that can transform the nature of insurance.

In both cases, insurance could experience a fundamental paradigm shift: the transformation, that is, from a subject that passively ensures coverage of needs to one that more actively (with its partners) supports the insured to provide services and technologies that reduce the possibility and cost of events (such as illness, decrease in income-generating capacity), aligning the interests of both the insurer and the insured.

The questions the project will seek answers to are:

 What is the value of a transformation project that uses technologies to progressively build insurance products that become personalized wellness or health services?

What is the value in terms of impact on the economic and financial profile (initial investments, lower costs for damages on existing clients, quantity, and margins on new clients won over by the new proposal) of different segments (young clients to accompany throughout life compared to older clients – with greater purchasing power) and different products (from the platform that collects all customer data to the use of sensors – more or less wearable – to monitor health conditions)?

Click here to download the document.