This collaboration between SCOR, Bayer and One Drop aims to empower people to proactively manage their health through innovative products and to reduce the risk of life-threatening complications from medical conditions.
The personalized programs for life insurance carriers and their customers in the United States will be sustained by: SCOR's in-depth knowledge of the insurance sector and its predictive risk assessment underwriting engine, VELOGICA, One Drop's fully personalized support experience and predictive capabilities, and Bayer's expertise in the worldwide development and commercialization of health solutions.
Brona Magee, Deputy CEO of SCOR Global Life commented: "We are excited to bring the latest state-of-the art digital diabetes management functionality to our life insurance clients and their policyholders, empowering policyholders to manage their chronic conditions efficiently". She added: "Research suggests that 29.1 million people in the United States have diabetes and around 1.4 million new cases are diagnosed every year. We believe that empowering patients to manage their chronic conditions can both improve lives and help make life insurance more accessible, thereby providing peace of mind."
"Aligning the power of proactive prevention with those that have incentives to drive long-term health is crucial to advancing preventative care versus expensive reactive care. Working together with SCOR and Bayer represents an exciting opportunity to bring our expertise to even more people and advance our mission of transforming health, changing lives, and creating new opportunities for everyone," said Jeff Dachis, One Drop CEO and founder.
"Bringing together our know-how with that of SCOR and One Drop is an important milestone in Bayer's strategic pursuit to build new and innovative digital business models," said Jeanne Kehren, Head of Digital and Commercial Innovation and Member of the Executive Committee of Bayer Pharma. "Data-based approaches that focus on the person, not the disease, empower them to effectively influence their healthcare to an unprecedented extent."
Through this collaboration by incorporating One Drop into a chronic condition-based insurance solution, SCOR intends to improve its underwriting insights while promoting healthier lifestyles.