In a recent whitepaper produced by Generali and Open and Embedded Insurance Observatory, the convergence of digital health services and health insurance is examined, along with emerging models in this field.

• Embedded Health Services is about offering health, wellness and/or fitness services – all within one online or mobile platform.

• Embedded Health Insurance places the protection of insurance into the natural flow of people’s everyday interactions – such as within their preferred health-related app or digital health platform. Together,

• Embedded Health Insurance and Services is a brand-new classification that Generali and the Open and Embedded Insurance Observatory have collaborated to define.

We define this category as: embedding insurance and health services in the day-to-day flow of people’s purchasing and engagement journeys with their favorite and most trusted digital brands, thus creating contextual opportunities for people to access such products and services at the points where, and when, they need them most. Digital platforms and ecosystems that are based on Embedded Health Insurance and Services (‘Embedded Health’) are an evolving model.

For customers, they provide a tailored, user-centric experience. For insurers, they offer access to increased revenue and the ability to provide value for their partners. Insurers around the world are now harnessing the benefits of being part of digital health platforms and ecosystems. Some insurers are integrating their products and services into existing health-related portals – or are creating their own digital health-focused services. Other insurers are partnering with non-health entities such as banks and telecommunications companies to create embedded health insurance offerings. Insurers perform a pivotal role in contributing shared value for all players in each of these models of Embedded Health. In turn, incumbent insurers and health-focused insurtechs are realizing the vast benefits of being part of the digital health boom.

With embedded insurance having a market value of $1.8 trillion, according to Observatory data, and predicted to capture another $1.2 trillion of insurance premiums in the next decade2 – and the global digital health services market forecast to grow at a CAGR of around 25% per year to reach almost $660 billion by 20253 – insurers have an unprecedented opportunity to position themselves as key players in today’s digital health marketplace.

Shared Value: This is the result when entities work together in a way that brings individual benefits to each of the involved entities, while at the same time enhancing the competitive advantage of the partnership or ecosystem as a whole.

To delve deeper into the promising world of Embedded Health Insurance and Services and understand how insurers can seize the unprecedented opportunities in the digital health marketplace, download the full “Embedded Health: Creating Shared Value in Digital Health Systems” report.