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Health tech businesses thrive post-pandemic even as VC funding drops. Plus: Singapore draws in start-ups; new models of corporate success in Japan; India’s EV expansion
...Shah’s previous business Health IQ, a life insurance broker that used AI, filed for bankruptcy last year after rising interests hit its ability to meet debt payments....
...But a less-followed risk is adding to unease at companies offering life and health insurance: scientists’ warnings, and research findings, that a warming climate is causing an increasing number of excess...
...The private medical insurance sector is booming, with the number of people covered by health insurance hitting 5.8mn in 2022, according to the latest industry data — the highest level since 2008....
...It comes as more companies look to help employees with mental health, offering access to therapy, or apps....
...Aviva, one of the largest providers of health insurance in the UK, reported that its “protection and health” premium sales were up 23 per cent in the third quarter of last year compared with the same period...
...The company’s average loan value is about £5,500....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Bain & Company on Thursday....
...Other health insurance companies, such as Humana, have also warned of rising medical costs....
...When an AI-powered doctor tells you that you’re just being hysterical, the AI-powered insurance company is unlikely to disagree....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...Private health sales rose 41 per cent in 2023, as Aviva continued to benefit from strains on public healthcare. Premiums from its general insurance division, which includes car insurance, also grew....
...The FTSE 250 company, which runs 39 hospitals as well as clinics and medical centres, said it was also benefiting from a strong rebound in corporate private medical insurance as more employers take out policies...
...But it will be companies with large health insurance divisions such as UnitedHealth not traditional retailers, that will have the best shot at capturing more of that $4.5tn pie. pan.yuk@ft.com...
...“Health insurance is not my top priority.”...
...You can buy travel insurance from insurance companies, banks, travel agents, supermarkets, holiday companies and online comparison websites....
...The positive data will also be a boon to Eli Lilly’s efforts to push for more widescale coverage of the drugs by private insurers and US federal health insurance programme Medicare, which were both initially...
...“The biggest barrier is insurance companies,” said Lawrence Honig, a neurologist at New York’s Columbia University Irving Medical Center....
...“AI is not perfect; and, in malpractice, you want to sue a human.”...
...Cigna is in talks to merge with Humana in a deal that would create a US health insurance giant worth $140bn and provide a significant test for antitrust authorities, according to people briefed about the...
...It also risks moral hazard by making insurance for the worst-rated drivers more accessible. Insurance underwriting is far from perfect but younger drivers are indeed riskier on average....
...CVS Health has cut its full-year earnings guidance as its insurance unit faces rising medical costs, following similar warnings from rivals Humana and UnitedHealth last month....
...German weedkiller-to-aspirin conglomerate Bayer is a perfect example....
...But health insurance “doesn’t do what the NHS does . . . It’s a very restrictive model.”...
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