Platinum Practices in the Silver Economy

Platinum Practices in the Silver Economy

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on 28 May, 2021

We have had many questions in response to our Silver Economy? Golden Opportunity article . Many readers wanted to know more, in particular about the state of the art use cases that focus on this important trend. Since we see such great interest from our readers, we decided to make a second editorial. In this editorial, we will explore the best practices (at least in our opinion) that are making a difference in the Silver Economy.

New profit pool
But first, let us summarize what we shared in our last article. We addressed one of the major challenges facing large parts of the world: aging. Fertility rates are decreasing while at the same time elderly live longer than ever before and the pool of of the 60+ generation becomes bigger and bigger. In fact, they are 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.

Independence - Health - Safety
In our ‘Silver Economy? Golden Opportunity’ article we identified three key themes to tap into the needs of this generation: Independence, Health and Safety.

First, we can help keeping elderly independent and mobile for longer. This will not only be pleasant for the elderly consumer; it also results in lower health costs as people can live in their own home for longer.

Second, obviously, we can support this generation to stay healthy. Again, all sorts of preventive services means less hospital admissions, less complications of inpatient care and fewer outpatient visits, which result in significant savings. Care delivery is one of the largest health value pools for the coming years, according to McKinsey.

Finally, safety is important. Not only physical safety, but also financial safety. Elder fraud is rising and children want to know how to remotely keep their parents safe.

Ten Platinum Practices
The best practices that we will discuss are all around these three themes. We are proud to admit that quite a few of these cases are DIA alumni. Time to introduce - in random order! - our list of 10 Platinum Practices that have been operating in the area of the Silver Economy!

1 MeetJane – Belgium
Jane is a smart living technology for homes and care facilities. Seniors can live independently for as long as possible whilst giving their loved ones and caregivers more ease of mind. The interplay of motion sensors, AI and alarm buttons make Jane a unique solution. Jane works as a preventor and helps the care circle to respond proactively. Since privacy is an issue, Jane does not have a camera but sensors that detect motion and temperature. The sensors can check for movement in certain rooms, at certain times. By strategically installing sensors, one can monitor for example medicine us">

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