Bao Viet Insurance uses big data to support health awareness – FutureIoT BIG Data

Starting this October, Bao Viet Insurance has introduced a new feature on its Bao Viet Direct mobile app that allows its policy holders to measure their risk of developing lifestyle-related diseases and receive the appropriate health guidance to prevent them.

The new mobile app service is the result of the recent partnership between Bao Viet Insurance and Hitachi Asia Vietnam that enables to insurance company to integrate Hitachi’s Risk Simulator for Insurance, a Lumada solution that analyses medical big data using Hitachi’s proprietary AI.

Lumada is Hitachi’s suite of advanced digital and services for turning data into insights that drive digital transformation of social infrastructure. Hitachi’s Risk Simulator for Insurance solution uses medical big data to predict a person’s risk of contracting one or more of eight major lifestyle-related ailments such as diabetes, cerebrovascular diseases, renal diseases, cardiovascular diseases, hypertensive diseases, pancreatic diseases, hepatic diseases, and malignant neoplasm.

By integrating the solution into Bao Viet Direct app, more than one million of the company’s medical insurance policy holders can easily check their future risks of these eight major lifestyle-related diseases simply by entering their health check-up results and past medical history into the mobile app. The app also displays factors for risks and offers advice for improvement. There information can enable specific behavioural changes and lifestyle habits to support health improvement.

Rising medical cost from lifestyle-related diseases

Rapid economic growth and the rising number of the middle class have changed the lifestyle – including diet and exercise – of the Vietnamese people. In recent years, the growing prevalence of lifestyle-related diseases has been a problem in Vietnam.

While there is rising demand for high-quality medical services due to increase in income and improvement in living standards, the ideas of prevention and early treatments are not instilled in most Vietnamese.

Many people in the country do not start their treatment until they become severely ill. For one, only around 30% of diabetes patients, estimated to number over 3.5 million, are receiving treatment for the condition.

Meanwhile, the local medical insurance market has been expanding rapidly, with concern over spiralling medical costs reflecting a rise in personnel expenses at medical institutions.

The concern over rising medical costs has spurred Bao Viet to deploy advanced digital technologies such as AI and big data to promote healthy lifestyle through disease prevention, early detection and early treatment.

Meanwhile as it seeks to deliver more high-value insurance services, Bao Viet will use data from the Hitachi’s Risk Simulator for Insurance to enable channel expansion and create opportunities of cross-selling during insurance application.

For example, the risk prediction service will be linked to the remote medical care services provided by Bao Viet Insurance. In addition, these services will be combined with various health data management functions of Bao Viet Direct app for a customised, centralised and integrated administration of health information that supports wellbeing and productivity management of companies.

Bao Viet is one of the many insurance companies to adopt Hitachi’s Risk Simulator for Insurance after it launched in Japan in 2018.

Bao Viet and Hitachi will continue to discuss the creation of new health promotion services that utilise various technologies. And Hitachi will enhance its services further based on achievements from joint initiatives with Bao Viet Insurance and expand them to Southeast Asian countries and other countries where demand is expected.

social experiment by Livio Acerbo #greengroundit #thisisnotapost #thisisart