Daily Insurance Report  
Walt Bernard Podgurski,  Editor,  440-773-1108, 
Walt@DailyInsuranceReport.com

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Editorial Mission Statement: The goal of this publication is to provide readers a broad selection of what is being written about the insurance industry and related issues. Some articles may have a “tilt” towards a particular perspective one way or another. Inclusion in this newsletter is not an endorsement of any views or content; but report the various and differing views appearing in media.
  Thursday, 09/26/19 - https://DailyInsuranceReport.com 

The "Daily Insurance Report" is now subscribed to by 25,000 elite insurance industry influencers who receive it Monday - Friday and have a quick overview of what is appearing in the media regarding the insurance industry; with an emphasis on life, health, and employee benefits.

The "Daily Insurance Report" publishes the life insurance, health insurance, and employee benefits news that matters.



Mayo Clinic, Google to Form Healthcare Partnership
Managed Healthcare EXECUTIVE

Mayo Clinic and Google announced a 10-year strategic partnership designed to redefine how healthcare is delivered and to accelerate the pace of healthcare innovation through digital technologies.

Mayo Clinic selected Google Cloud to be the cornerstone of its digital transformation. Mayo will use advanced cloud computing, data analytics, machine learning, and artificial intelligence (AI) to redefine healthcare delivery, bringing together global providers and consumers to make healthcare better, the Rochester, Minnesota-based medical center reports.

"Data-driven medical innovation is growing exponentially, and our partnership with Google will help us lead the digital transformation in healthcare," Gianrico Farrugia, MD, president and CEO of Mayo Clinic, said in a statement. "It will empower us to solve some of the most complex medical problems; better anticipate the needs of people we serve; and meet them when, where, and how they need us. We will share our knowledge and expertise globally while caring for people locally and always do it with a human touch."

The collaboration will combine the clinical knowledge and expertise from Mayo Clinic with the digital technology and data security expertise from Google to develop solutions for people who want medicine to deliver on the promise of scientific and technological advances.



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Amazon launches Amazon Care, a virtual and in-person healthcare offering for employees
Darrell Etherington / TechCrunch

Amazon has gone live with Amazon Care, a new pilot healthcare service offering that is initially available to its employees in and around the Seattle area. The Amazon Care offering includes both virtual and in-person care, with telemedicine via app, chat and remote video, as well as follow-up visits and prescription drug delivery in person directly at an employee’s home or office.

First reported by CNBC, Amazon Care grew out of an initiative announced in 2018 with J.P. Morgan and Berkshire Hathaway to make a big change in how they all collectively handle their employee healthcare needs. The companies announced at the time that they were eager to put together a solution that was “free from profit-making incentives and constraints,” which are of course at the heart of private insurance companies that serve corporate clients currently.

Other large companies, like Apple, offer their own on-premise and remotely accessible healthcare services as part of their employee compensation and benefits packages, so Amazon is hardly unique in seeking to scratch this itch. The difference, however, is that Amazon Care is much more external-facing than those offered by its peers in Silicon Valley, with a brand identity and presentation that strongly suggests the company is thinking about more than its own workforce when it comes to a future potential addressable market for Care.




 
NXT  NXT Employee Benefits Investor Forum - - Who Presents?
NXT carefully chooses the presentation companies that it believes have identified innovative solutions related to the "health and employee benefits" marketplace.

Presenters bring a diverse spectrum of technology expertise including: artificial intelligence, marketing automation, governance solutions, sales platforms, apps for customer interaction, data security software, data mining, machine learning, block chain, biometrics, payments, fraud protection, cyber-security, data analytics, virtual platforms to coordinate health treatments, tools to optimize an organization’s internal performance metrics, and employee on-boarding and career development platforms.

In addition to fintech and insurtech companies, NXT focuses on specific product and service opportunities.

LEARN MORE...




Insurance company establishing headquarters in GR
FOX 17

One of the largest insurance brokers in the world is moving its headquarters to downtown Grand Rapids.

Acrisure’s new headquarters will be located in the Studio Park development. Grand Rapids was chosen over competing sites in Illinois, Indiana and New York.

The company’s expansion into Grand Rapids is expected to generate an investment of $33 million into the city. Acrisure has committed to creating and keeping a minimum of 400 new high-paying jobs with an average wage of $74,464.

The insurance company currently employs 280 people in its Caledonia office, who will be housed at the Grand Rapids office.



Salesforce Expands Financial Services Cloud with New Insurance Innovation--Bringing Policyholders, Insurers and Agents Together
New insurance capabilities enable insurers to reach policyholders on the channels of their choice, intelligently prioritize tasks, and build deeper relationships through more personalized customer engagement
PR Newswire

Salesforce (CRM), the global leader in CRM, today announced new insurance-focused enhancements to Financial Services Cloud that enable insurers to build stronger, more personalized relationships with policyholders. As an extension to Financial Services Cloud, insurers now have a unified, 360-degree view of their policyholders–including household relationships, life events, coverage and claims–across all lines of business.

The insurance industry is experiencing a revolution. Leading insurers are beginning to explore innovations in digital, data and cloud technologies to drive profitable growth, distinctive customer engagement, agent productivity and innovative new business models. However, many of these companies are still challenged by legacy processes and systems, fragmentation between siloed businesses and functions, a lack of an end-to-end digital strategy and the talent to execute.

Without the ability for insurers to revamp their core activities, including the adoption of a digital-first platform and more collaboration across business units, they risk losing the loyalty of their customer base to competitors. In order to be successful, insurance companies must improve policyholder trust and transparency, create added value and provide more personalized experiences to their customers.



The US just promised to adopt universal health care
By Annalisa Merelli / QUARTZ

Every single member of the UN doubled-down today on a commitment to provide universal health coverage to their citizens. The fact that the US will be among them is perhaps evidence of how disconnected these declarations can be from actual domestic political agendas.

Yet the issue is important, and it shows just how out of line the US approach to health care coverage is compared to the rest of the world. Only about half the world’s population has access to the kind of affordable health care services that don’t require crippling out-of-pocket costs. Most of those people are in mid- and low-income countries. Or they are in the wealthiest country on Earth: the US.

Bringing universal health care to everyone is one of the “sustainable development goals,” the ambitious to-do list for UN member countries to complete by 2030. For the UN, universal health care means, “financial risk protection, access to quality essential health-care services and access to safe, effective, quality and affordable essential medicines and vaccines for all.”



Ping An Good Doctor Has Become the First Online Healthcare Platform with More Than 300 Million Registered Users
PR Newswire

The world's leading online healthcare ecosystem platform, Ping An Healthcare and Technology Company Limited ("Ping An Good Doctor"; stock code: 01833.HK) announced on 23 September that the number of registered users on Ping An Good Doctor exceeded 300 million, implying that one in every three Chinese Internet users is a user of Ping An Good Doctor. With the development of online healthcare services in the past few years, people have developed a habit to seek medical care on the Internet. Since its founding five years ago, Ping An Good Doctor has successfully amassed 300 million registered users, which shows the vitality of Ping An Good Doctor and the whole online healthcare industry, and the driving force of the transformation of China's medical and health service pattern.

Over recent years, residents' awareness of health management is increasing. Meanwhile, the aging population also drives the continuous growth in demand for quality medical resources. To better meet the medical needs of people, the central and local governments continue to deepen and advance the "Internet + Healthcare" model, launch various policy, guidance and standard for online medical services, and incorporate online consultation and treatment into the social insurance system, thereby encouraging and supporting the development of online healthcare sector. In line with the national policy, Ping An Good Doctor has drastically reduced the restrictions in seeking healthcare services and offered effective support for the tiered consultation and treatment system so as to provide convenient health management services for users.



There's plenty of evidence to suggest that those who use professional advice do better than those who don't. According to research from John Hancock Investment Management:
John Wasik, Contributor / Forbes

"Even if the lineup of fund options represents an appropriate set of tools to build a diversified investment portfolio, those tools aren’t much use to a participant who doesn’t know what to do with them, and they’re even less useful to those who don’t contribute much—or anything—to the plan."

That's where the adviser comes in, who should be independent of the company providing your 401(k) options. Let me be clear: By adviser, I don't mean an insurance agent, "retirement specialist," stockbroker or someone who's not a certified financial planner. A fee-only adviser can make a difference because you are:

-- More likely to have a higher 401(k) contribution rate.

-- More likely to be on track with savings strategies and budgeting.


Healthcare Organizations Join To Create A New Healthcare Association
PR Newswire / YAHOO FINANCE

Organizations with decades worth of experience providing healthcare service throughout New York State, the greater tri-state area and beyond, are proud to join and form a new Independent Practice Association named Polaris Healthcare IPA. Associated providers currently include the following services; home health care, assisted living communities, adult day care, outpatient rehab, psychological services and long-term care pharmacy. Plans for additional members will be announced in the near future as well, bringing with them even greater access to care under the Polaris Healthcare association.



Creative Planning Acquires Retirement Plan Provider America's Best 401k
PR Newswire /YAHOO FINANCE

Creative Planning Makes Second Acquisition This Year

Creative Planning today announced the acquisition of America's Best 401k, a rapidly growing nationwide 401(k) provider with a low-fee model, which will effectively build on the two firms' existing relationship and give Creative Planning a larger foothold in the retirement plan sector

"We entered the acquisition market earlier this year with the acquisition of the Johnston Group and we're excited to continue down this growth path," said Peter Mallouk, Chief Executive Officer of Creative Planning. "We've been lucky to work with some of the best in the industry and partner with firms that share our values and vision. The retirement business is ripe for growth; and acquiring America's Best 401k will allow us to stay at the forefront of the 401(k) industry."



Insurance Broker Marsh Pilots Blockchain-Based Digital Placement Platform
By Ana Alexandre / COINTELEGRAPH

Leading insurance broking and risk management firm Marsh has piloted a blockchain-based digital placement platform.

According to a Sept. 24 news release, the Risk Exchange platform aims to deliver a more transparent and secure digital placement and enable users to receive real-time information and feedback on the placement and binding process.

Insurance placement is the purchase of an insurance product or the renewal of an existing product.

First participants in the pilot

As part of the pilot, commodity chemical company Dow Inc. and domestic appliance manufacturer SharkNinja will bind United States trade credit policies with finance and insurance corporation AIG and insurance company Euler Hermes. During the process, the parties will receive real-time status updates and notifications.




  Archives

Monday, 09/23/19 -UAW workers claim they were blindsided by health insurance switch


Tuesday, 09/24/19 - GM caves on increasing employee health costs


Wednesday, 09/25/19 - Healthcare May Eventually Become A Bigger Business For Best Buy Than Selling Electronics


Thursday, 09/19/19 - Morgan Stanley adds coaching, student loan refinancing to financial wellness platfor


Friday, 09/20/19 - 25 Ways the Canadian Health Care System is Better than Obamacare for the 2020 Elections by Ralph Nader


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Walt Bernard Podgurski - - Editor
440-773-1108
Walt@DailyInsuranceReport.com