In previous articles about the Silver Economy, about Golden Opportunities and Platinum Practices, we established that the 60+ generation is the fastest-growing consumer group, and on top of that, they enjoy an increasingly higher spending power. The Silver Economy is a big opportunity and a great new profit pool with exceptional opportunities for companies to contribute to society, to innovate and to profit. The silver revolution with accompanying risks of increasing number of claims or rising healthcare expenditures evidently has an impact on the insurers business. Value propositions should be adapted to this segment of more and more digital-savvy and wealthy seniors. We discussed some of the best practices - at least in our opinion - that cater to the Silver Economy. In this article we would like to highlight one in particular, so we sat down with Christophe Moortgat, CEO of Jane.
Welcome Christophe, in the recently published white paper ‘Silver Economy for the Insurer’ you mention a ‘perfect storm’, in which demographic trends and healthcare trends converge to new opportunities for innovation. Can you expand on that?
Christophe: “Of course I can, at Jane we believe those trends have a huge impact not only on society, but also on the insurers business model. First of all, as you may already know, the European population is aging. Public and Private healthcare financing schemes will have difficulty coping with increasing costs. While the healthcare industry is struggling with these rising expenditures, this industry is also changing. Next to an increasing adoption of digital solutions, consumerism is also on the rise. The expectations about service levels of health and elderly care have changed. Seniors prefer to stay home for a longer time and prefer hybrid concepts. Insurance companies need to step up to the plate and address some of the challenges healthcare and the silver generation face. In order to address these challenges, new systemic approaches to healthcare and digital solutions are needed. A complex puzzle">
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