How the digital economy is fueling the wellness industry

By: Cesilia Faustina

The health and wellness sector are multi-billion dollar industries. The concept of health and wanting to have a healthy life has always existed since ancient times, however, it really gained momentum in the 1950s-1970s thanks to the influence of a network of well-known physicians and thinkers in the US. The wellness industry today has a much more different concept. What was once a top-down approach to health, where health information would be distributed from dominant thinkers and prestigious institutions, has turned into a participatory approach. The public can now easily receive information about health through various sources and distributors, something made especially apparent with the rise of the digital economy.

3 core pillars of effective information handling in the radiology sector

By: Omar Abdul-Hafiz

The radiology sector, much like all other areas of healthcare, has seen quite a great deal of development throughout the years. Since the advent of state-of-the-art technologies like CT Scanning and MRI, and their continuous development, the amount of medical data produced every year is enormous. Likewise, the ever-expanding applications of state-of-the-art telecommunication technology have brought more opportunities for faster exchange of medical information between medical staff among themselves, and between them and their patients as well.

In this article, we shall discuss 3 core pillars of effective information handling in the context of radiology. These pillars are:

Digital apps are helping to mitigate insurance risks

By: Cesilia Faustina

The popularity of e-commerce is a growing phenomenon, it is one that has been fuelled with the rise of COVID-19. Many businesses are forced to move into the digital sphere in order to maintain their income. This trend has now led to the dependency of insurance companies towards digital platforms. (Re)insurers are looking at the rise of digital wallets and e-commerce platforms to help them mitigate their losses and close protection gaps.

Usage of digital platforms is especially becoming a big deal with emerging markets, such as countries like India, Indonesia, and Malaysia. According to a survey by Swiss Re Institute, 70 percent of respondents expressed interest in using online channels to purchase insurance. The survey had also showed that 68 percent of the 1,800 respondents in these three countries were using digital platforms at least once a week. COVID-19 has pushed government policies to support an online environment in order to create a safer process for consumers.

Is COVID fuelling startups or stopping it?

By: Cesilia Faustina

Thanks to COVID-19 many businesses are at a standstill and struggling to make ends meet. It has created multiple challenges for the economy, which is affecting startups all over the world. Over the years, financial analysts and journalists have continuously covered stories of the development of startups. It was seen as a great contributor to the economy for the coming years. In a way, it still is, but startups are also one of the sectors most affected by the pandemic.

According to a survey by Startup Genome, 74 percent of startups had seen their revenues decline since the beginning of the pandemic. Even one of the most popular startups sectors, fintech, has seen decreasing profits due to the pandemic. Funding for fintech has fallen 45 percent compared to Q4 of 2019, according to a report by CB Insights. Startups will need and have taken tighter steps to reduce losses, with big startups like UBER having cut its workforce by 14 percent and other companies taking part in massive layoffs as well. Some have even been forced to shut down and start new businesses.

Beyond COVID: What role can InsureTech play in the travel insurance landscape?

By: Omar Abdul-Hafiz

It is no exaggeration that 2020 was a big, unexpected super blow to the global travel industry as a whole. According to the latest data from the UNWTO World Tourism Barometer, “international tourist arrivals fell by 72% in January-October 2020.” This plunge had manifested in restrictions on travel and low consumer confidence. Furthermore, it ignited a global struggle to contain the COVID-19 virus. These factors alone easily made it the worst year for tourism ever recorded.

But amidst all these harsh events, there is always a gleam of hope. With vaccines going into action already, we can already see the light at the end of the tunnel. And this is a big chance for us to learn a lesson or two for the future.

Top insurance risks to watch for in 2021

By: Cesilia Faustina

The insurance sector has experienced its fair share of hardships since the rise of the COVID-19 pandemic. According to S&P, reinsurers stated about $12 billion in COVID-19 loses in the first six months of 2020. HSBC had also reported that COVID-19 claims had increased three times during the second quarter of 2020, from $6 billion to $20 billion, many of which came from the property and casualty sector. That said, such losses are to be expected for the insurance sector during a pandemic and (re)insurers are generally prepared for loss events. Overall, the insurance sector has fought resiliently despite the challenges of the pandemic, of course, financial losses will need time to work themselves out and insurance specific efforts will be needed to support this recovery. With many of the financial markets recovering though, we can only expect greater rehabilitation plans for this sector in 2021.

What does it take to make an ideal mobile app?

By: Omar Abdul-Hafiz

Mobile Apps are becoming the main channel of communication among almost everyone. People use them nowadays to carry out a lot of their daily activities. In fact, they even played a vital role in making our lives much easier during tough times such as quarantines, from aiding us in our remote work and education, to ordering groceries in times where merely stepping outside could get us in trouble. All this proves that a well-designed mobile app can bring a lot of joy and convenience to many people.

But what does it take to build an ideal mobile app? To answer this question, we should recognize some of the main aspects of successful mobile app creation and how to best accomplish them.

How mobile apps can revitalize the patient experience

By: Omar Abdul-Hafiz 

In a previous article, we discussed the merits of web portals in the healthcare sector in some detail. We concluded that web portals may offer a great way to streamline the routine of time-consuming paperwork in a digitalized and automated manner. This will save much valuable time that can instead be dedicated to actually delivering the healthcare service patients are seeking.

But whereas web portals do their magic through web browsers, there’s another powerful element that does its magic through the smartphone. That’s right! We’re talking about the mobile app.

Everything you need to know about partner management systems in communications

By: Cesilia Faustina & Lotfi Alsarori

We are at a time where telecom companies rule all, which means incredible dependency towards the industry. It also means greater demands and expectations from the telecom sector. The rise of COVID-19 sure is not making this easier either. Network usage have gone through the roof, with many telecom companies reporting large spikes and increase in volume voice calls in 2020. These rapid changes could only mean more developments and customer interests. This is no surprise though, what is a surprise is how to handle these overwhelming expectations? 

The many handy applications of Web Portals, Part V: Telecom

By: Lotfi Alsarori

Continuing in our discussions of the value of web portals in different industries, in this article we look at the telecom sector. We have seen web portals in the enterprise, education, healthcare, insurance, and in a previous article on e-banking. The telecom sector is no exception to the utilization of this great tool. There are several applications of using web portals in the communications industry, but we will focus on the two most common areas which are customer self-service and partners portal.

Before going into the details of common web portals used in the communications industry, let’s first define the scope of this rapidly changing industry. The communications industry was previously composed of an ecosystem revolving around telecom operators. However, today the communications industry is made up of a diverse collection of what are called communication service providers, or CSPs. These are service providers that transport information electronically. They offer services ranging from telecom, information, media, content, entertainment, and application services over voice and data networks. They include, for example, telecom operators and Internet service providers (ISPs), as well as companies offering content, cable, or Cloud application services. 

The many handy applications of Web Portals, Part IV: Insurance

By: Lotfi Alsarori

The insurance industry is increasingly taking full advantage of information technologies to enable digital transformation. Insurance providers, whether they are in the life or non-life insurance business lines, are already benefiting from using business systems, such as claims management and policy administration (PAS) systems. Insurance digitalization also entails providing access of certain system functionalities to external stakeholders. Whether they are customers, partners, agents, or brokers, providing access to relevant information and providing extended services can be particularly valuable to the insurance organization. This is where web portals come into play. 

The many handy applications of Web Portals, Part III: Healthcare

By: Omar Abdul-Hafiz 

In the two previous parts, we discussed the merits of web portals in enterprise and education consecutively. We saw that in the enterprise sector, web portals can play a vital and diversified role in streamlining communication and access to information among departments and business partners. Likewise, in the education sector, we looked at how web portals can substantially improve communication between teachers, students, and parents. 

Thus, to pick up the threads of our discussion on the significance of web portals in various industries, in this article, we will cover their usage in the healthcare sector. So, let’s get to it. 

It is time to invest in mobile applications

By: Lana Bawa'neh

Every day, the world is becoming more and more digital and technological, especially the business world. Technology has changed almost every aspect of business and its operations. It is not only important, but it is essential in today’s world. Technology can lead people to success easily, where one can achieve more in less time. 

Technology provides new ways that enable businesses to achieve operations and tasks with less time and effort, and sometimes it can perform these tasks on the company’s behalf. This allows business owners to improve the quality of their products and services, it could also open doors to new business ideas that benefit organizations. For this reason, organizations need to cope with existing and rising technological trends in the market to stay competitive. 

2021: New year, lessons learned

By: Lotfi AlSarori

We start our new year with new hopes, wishes, and plans looking for better lives and pleasant experiences. It has been a challenging year for all of us, for the whole world. With a new year starting, we are hopeful to move on with what wisdom and experiences we gained in 2020 to help us build a better future for ourselves, families, and our businesses. 

The COVID pandemic has taken a big toll on our lives and impacted about everyone in the world one way or another. With new vaccines having been deployed and administered as we speak, this cloud of hardship and uncertainty is moving away and out of our lives, leaving us with many lessons to learn moving forward.