Three heavyweights; Berkshire Hathaway, JP Morgan and Amazon there with the technology. "Let’s be clear, this is NOT something these companies are doing for just their employees."
"Amazon has already invested in healthcare with GRAIL and 14 of the 18 insurers offering voice computing skills according to Coverager use Amazon’s Alexa. Couple Amazon’s technology capabilities and massive amounts of data with Berkshire Hathaway’s experience in Insurance and JP Morgan & Chase’s cash, and you’ve got yourself the potential for a great healthcare ecosystem.
Plus, they have the perfect pilot to do it with – 1.1 million employees."
Stephen Goldstein Daily Fintech Feb 1st 2018
And remember Amazon is not the only digital giant targeting the healthcare market.
Incumbent insurers should anticipate success and use their core strengths together with digital platforms that can deliver the technology benefits of an Amazon to the various markets they serve- not just healthcare but Auto, House and Contents, Pets, Private and Commercial, General & Life.
And remember you are looking at ecosystems in the making and must partner with the winners in these evolving powerhouses. Check out-
Let’s be clear, this is NOT something these companies are doing for just their employees. Their employees are simply guinea pigs in a longer term ambition for these three CEO’s to take on an industry that has been in serious need of some change over the past few years/decades. Number one, they come right out and say that “the initial focus of the new company will be on technology solutions.” The very fact that they start with the press release with this shows why Amazon is in the picture and why they will make this a success. As mentioned in the introduction, many of us have been monitoring Amazon’s entrance into Insurance for a while.