What We Learned about Elder Care at InsureTech Connect

Updated: Nov 6, 2018

When the CareValidate Team was contemplating what events we should attend this conference season, one of the clear frontrunners was InsureTech Connect in Las Vegas October 2nd and 3rd 2018. Since the global market has changed exponentially from just fintech, it felt right to attend the world’s largest conference and take a peek around and share our successes with telematics for senior living with others. Investors, startups, traditional insurers and thought leaders were all in attendance.

SafeSense from CareValidate is proven to help insurers of Skilled Nursing Facilities, Nursing Homes, Assisted Living Facilities, Hospice Centers, Adult Day Cares, Retirement Homes, Senior Housing Communities, Continuing Care Retirement Communities (CCRC), Home Care Providers and Long Term Care Insurers mitigate losses and grow distribution. We attended the conference to find cutting insurtech edge approaches that can help us serve our market segment better. And let me tell you, the future is bright for insurtech! From natural disaster predictive analytics, to a claims process that takes just 2 seconds to receive funds - ITC had a lot for us to learn and apply to senior living.

InsurTech for Long Term Care, Senior Care, Senior Living – we didn't find a whole lot...

So why are our seniors not reaping the benefits of connected insurance? Through our candid conversations with many gracious traditional insurers we learned the simple answer. The complexity surrounding privacy concerns with senior safety & health & care monitoring is the biggest barrier. Insurers are just now scratching the surface and finding new ways to apply InsurTech to the Long Term Care Industry with carefully designed solutions like SafeSense from CareValidate. We did find some good news around transparency into quality of care as a renewed focus for Long Term Care Insurers.

On balance, we came back more convinced than ever that the concept of care validation in LTC is transformative in so many areas, from IoT and telematics sensor data, claims & underwriting process to increasing quality of care to providing family members the peace of mind to know their loved one is cared for.

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