Digital Insurance Agenda

Platinum Practices in the Silver Economy

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on May 28, 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 usage, fall detection, wander detection and toilet use.

2 Neurotrack’ Imprint Check-Up – USA
DIA alumnus Neurotrack is a Californian digital health startup that has developed eye-tracking technology to help detect and monitor dementia. With eye-tracking technology, the Imprint Check-Up assesses cognitive decline before symptoms appear in a 5 minute assessment. The Imprint Check-Up is the only tool that can predict memory loss before it starts.

Neurotrack is for instance part of the prevention app of Dai-ichi Life, the second largest life insurance company in Japan, serving one of the world’s largest aging populations. It leverages AI to check the state of a policyholder’s brain and cognitive function for early detection and prevention of dementia. The Dai-Ichi app also offers additional services for after symptoms are detected: a family member can send a security company personally to visit the home of their loved one in case of an emergency.

3. Alarm.com’s Wellcam  – USA
The Wellcam is a smart home video solution that monitors the activity and well-being of loved ones or patients in their own home or healthcare setting. It sends out automatic activity alerts & notifications to keep loved ones and caregivers informed. Important features are the push to call button: With one push on the button, video calling with a loved one is possible. Family and caregivers can check in at any time by watching live video footage. At the end of the day, a highlight video is made to give loved ones a video summary of the day. This, all while being secure through the alarm.com security platform.

4. Vayyar’s Walabat Home – Israel
DIA alumnus Vayyar Imaging is the global leader in 4D imaging technology. Vayyar developed Walabat HOME: a fall detection and health monitoring device that makes sure seniors can live in their own home for a longer period of time, and it provides peace of mind to seniors and their families as well. With advanced sensor technology, Walabot HOME analyzes an entire bathroom space without using cameras. In case of an incident, your emergency contact will be called. No bracelet or pendant required.


5. HiNounou’s Home Wellness Kit China
HiNounou Intelligent Robot Company from Shanghai is a connected healthcare and intelligent data platform company on a mission to empower the world’s seniors to live longer, healthier and happier, at home. And in turn this provides peace of mind to seniors as well as their families. At DIA 2019 HiNounou was awarded the ‘Special DIAmond Award for Insurtech with Most Transformative Power’ by InsurTech Hub Munich . Via their Home Wellness Kit, they offer multiple connected medical devices. Main chronic diseases risks such as diabetes, hypertension and cardiovascular disease can be detected and analyzed with AI algorithms. With consent of the patient, data is shared between home and hospital and healthcare professionals.

6. Fidelidade’s Alô – Portugal
Last year, we all experienced that with social distancing the number of contacts with friends and family dramatically decreased. Since seniors are already more prone to be lonely, they have been isolated during lockdown even more. For these seniors, Fidelidade, the number 1 insurer in Portugal, developed Alô: A solution that allows seniors to make video calls to family and friends, share photos and videos, listen to music and play together. In times like we experienced, but also to prevent loneliness among seniors in general, it is important to stay playful with your families, also to keep up mentally.

7. True Link’s VISA Cards – USA
True Link has developed custom VISA cards, that can be tailored by the senior’s loved ones. This way, the card use aligns with a senior’s needs and has restrictions to help protect them from fraud. Different features are being offered on the True Link online dashboard. Here, a loved one can customize settings to meet the needs and circumstances of different life situations, easily add funds, and provide safer access to spending money.

8. Neurocern – USA
Dementia tops every predictive model as the number one cost to economies worldwide, and it caused more deaths than prostate and breast cancer combined. DIA alumnus Neurocern’s risk management platform uses predictive analytics and AI to meet the growing needs of insurers and the dementia population worldwide. They improve the longevity and quality of life of patients living with neurological conditions like dementia. Neurocern uses predictive analytics to redefine the way dementia is being diagnosed, treated and cared for.

9. Safera’s Stove Guard – Finland
Safera is yet another DIA alumnus and a forerunner in stove guard technology. Stove Guard is a product that has revolutionized the thinking in the fire safety industry. It can actively prevent no less than 1/3 (!) of household fires, unlike traditional fire safety products, which only react to heat or smoke. Although this is not made especially for seniors, the added value for serving the silver generation is obvious.


10. Reemo Health’s Smartwatch – USA
Reemo Health developed a smartwatch to support elderly independence. They have transformed the way healthcare engages older adults in their health. The Reemo platform runs on a smartwatch to monitor heart rate and location and enables to call 911 with one push on a button. The smartwatch enables seniors to manage their health at home, while personally being connected to services, care and support they may need.

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