News Digest December 2023
A curation of news stories impacting health insurance and brokers, population health management and health tech from last month.
In IPMI, the hottest but sad news is of GBG. Despite the forced closure of their ‘offshore’ insurance arm, it still remains to be seen if they can hold on as an independent MGA/TPA looking after some exceptional niche business. We wish them luck.
Otherwise, across the PMI/IPMI world, annual price increases appear to be largely in line with the longer-term average @ ~10%.
Most industry wide reports are encouraging at least in the ‘individual’ segments, and we see innovation in ‘travel for treatment’ products for example from India’s Reliance General and AIA’s new Singapore IPMI plan.
The Cigna Group’s US asset reshuffle continues its topsy-turvy path, as the US PMI market forecasts an astonishing size of $1,639 billion by 2032.
Innovation comes from CVS’s simpler drug pricing, the US digital health platform, Employees Direct’s navigation to better specialty cancer care, and Payground’s payer-provider payment interface, and some AI-led diagnosis in breast cancer from GE.
Meanwhile, in the employer space ‘burn out’ stats (from the ISOS and Mindgym reports) are shown to have reached unsustainable levels.
Our sections on the Middle East, India and Africa (MEIA) and Asia also reveal interesting moves in Nigeria, India, Saudi Arabia, Singapore, Malaysia and China. Please have a read of these sections.