The current COVID-19 pandemic has drastically shaken life and health insurers or reinsurers and the insurance landscape. Consumers now have different priorities and needs when it comes to purchasing life or health insurance. The companies must adapt to this new situation by providing value-added services that transform their previously transactional approaches into the newfound insurance-as-a-service concept. dacadoo’s Digital Health Engagement and Health Risk Quantification solutions allow insurers to become more relational (instead of transactional) and customercentric while easing operational costs and enhancing customer acquisition.
The vision of dacadoo is to bring great life and health for everyone through engaging health apps and services built on a configurable and extendable platform. This vision started ten years ago when dacadoo was founded by CEO Peter Ohnemus. After developing their groundbreaking Health Score for five years, they started having health insurance customers using the Health Score built into the Digital Health Engagement Platform. With the success of their Health Score and Digital Health Engagement Platform, dacadoo created the Risk Engine for their life insurance customers to enhance and support insurer’s pricing and underwriting systems to facilitate fluidless online underwriting and increase the amount of Straight-Through-Processing (STP).
Implementing Cutting-Edge Tech
dacadoo believes their technology solutions have strong differentiators. Although Digital Health Engagement Platforms (DHEPs) are increasingly becoming more popular, none of them possess dacadoo’s cutting-edge user interface Wheel of Life, neither do they have their scientifically proven Health Score. The company’s science-based Health Score technology, which took over five years to develop, has granted them several awards, as it calculates an individual’s holistic health in real-time with a single number between 0 and 1,000. Additionally, they are constantly and proactively analyzing the market for upcoming trends and new services that they can implement within their products. “At dacadoo, we never stop learning, listening and delivering, as we believe it is the best approach to stay competitive in an everchanging market.”
Accurate & Engaging Lifestyle Navigator
dacadoo’s Wheel of Life consists of an improved user interface (UI) that encourages daily interactions for a much more engaging experience. Users now have seven different dedicated areas to measure holistic health accurately. The different areas encourage the user to focus on nutrition, sleep, mindfulness, physical activity, mental wellbeing, physical health, and nicotine, caffeine and alcohol consumption. They cover virtually every aspect of an individual’s lifestyle, which results in a more accurate representation of their overall health status. Additionally, dacadoo is continuously improving its Health Score calculation based on the latest research so that clients and users are always receiving the best possible information and results.
The Health Score - and its sub-scores - serve many purposes as they inform the user about their overall health, and the information that makes up the scores serves as a trigger for the smart coach to recommend specific actions and goals for the user. dacadoo’s smart digital coach constantly analyzes user data to provide summaries of activities and comparisons with previous timeframes. This way, every user gets a personalized experience on the platform that is unique to them. “We take pride in knowing that our technology is relevant, easy and fun to use (what we call the REF factor).”
The company’s two main products are the DHEP and the Risk Engine. The DHEP is a personalized lifestyle navigator that leading life and health insurers use to connect with their members, forming a more personal relationship. Their DHEP technology is accessible through a comprehensive white label package or APIs. They are both very different ways of accessing their award-winning technology, and they always recommend one option or the other depending on customers’ needs and existing internal resources. dacadoo is constantly striving to achieve a seamless user experience on their DHEP. Their DHEP supports many kinds of Bluetooth smart devices to track any desired health data. Additionally, Apple Health’s new supported health data includes adding support by dacadoo for ‘mindful minutes’ and ‘resting heart rate.’
For instance, customers that already have a wellbeing app or would like to build a very different version to dacadoo’s standard/white-label app can benefit from accessing their API building blocks. This way, customers can choose which features they want to add to their existing applications or even build their DHEP with dacadoo’s scientific technology. On the other hand, dacadoo’s Risk Engine is super easy to use as it is just like a calculator - it takes the inputs and provides the estimations without storing any sensitive data.
Towards the future
Apart from serving life and health insurers, dacadoo also works closely with employers and brands that need trustworthy corporate health solutions. As such, dacadoo monitored the progress during implementation with a large European employer, which ran a nine-month program with its employees. The employer wanted to encourage a healthier workforce by implementing dacadoo’s DHEP. They helped them develop a comprehensive solution around four areas central to health - nutrition, activity, sleep, and relaxation - which also featured experts about nutrition, physical activity, and wellbeing.
The results speak for themselves:
* Program participation was 73% among all eligible employees.
* The engagement rate on the dacadoo platform, expressed as DAU/MAU (daily active users divided by monthly active users), ranged between 34% and 50% throughout the program. For context, most nonsocial media apps that achieve a 20% DAU/MAU are considered very successful.
* All of this led to an average Health Score improvement of 28 points, from 570 to 598 points, after the ninemonth program.
For the days to come, dacadoo is all set to announce the launch of a new product that will revolutionize the current status of digital health engagement platforms. dacadoo is taking it one step further by implementing another aspect of everyday life for which, so far, not many others have realized its significance for overall wellbeing. Apart from constantly improving their products and technology, dacadoo also has big ambitious plans for the near future. They are constantly on the lookout for new talent and continuously expanding their presence all around the globe. Currently, dacadoo has offices and employees in the US, Europe, and APAC. “Later on, this year, we are very much looking forward to attending in-person conferences and events, once it’s safe to do so, as we are a company that loves face to face interaction.”
For more information please visit: www.dacadoo.com
Peter Ohnemus founded the dacadoo Health Score/ dacadoo ag, in Zurich, Switzerland in 2010. The patented dacadoo Health Score & AI-based Lifestyle Navigation Platform is being licensed to key Life & Health Insurance companies (Payers) and global healthcare operators (Providers). Peter has been involved in high-tech and bio-tech investments over the last 25 years and this led to four IPO’s and multiple trade sells.
Peter is a frequent speaker and has spoken at World Economic Forum (WEF), Fortune Brainstorm Health, Google Tech Talks, McKinsey’s Life Leaders CEO Forum, International Insurance Summit(IIS), Geneva Association (GA), The Royal Society of Medicine, Stanford LIGHT Conference, CommunicAsia, Mobile World Congress, European Health Forum by the EU, Economist Global Healthcare Forum, Mobile Health Summit DC, European Tech Tour, Red Herring, WWW/Digital Disease Detection, etc.
Peter occasionally teaches digital innovation & entrepreneurship at Universities such as ETH, HSG- Switzerland, Bocconi - India.