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SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Analytics in Perspective of Indian Healthcare Market

In spite of a lot of buzz about big data and data analytics, only few organizations like Amazon and Google have managed to exploit them to the potential. With the shortage of doctors, lack of infrastructure and only 5% Indian population covered by health insurance, healthcare system in India is in a delicate condition. If used in the right way, the data analytics in healthcare system can push the sector to excellence by retaining right customers and assisting in providing cost efficient operations. Data analytics can also assist the insurers to increase the coverage of healthcare insurance from 5% to 50% of the Indian population. Read more at http://health.economictimes.indiatimes.com/news/industry/healthcare-analytics-in-india-opportunities-and-challenges/59028069

 

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The Asian Insurance Story

Increased life expectancy in the Asian region means plenty of business for insurers, with need for health insurance etc. Insurance premiums are growing faster than Europe and North America yet still largely it remains underinsured. Culture dictates that majority build up savings themselves rather than pay someone else to bear it. Innovative products are offered for specifically for Asian countries because of the demographic dividend. The growth of the insurance market is typically fuelled by innovative product design and population pressure. Many global insurance tycoons are joining hands with Asian tech firms, banks to launch their products in the large expanding markets.
To know more: http://www.economist.com/news/finance-and-economics/21654086-insurers-asia-cauldron-innovation-also-competition-astounding?zid=300&ah=e7b9370e170850b88ef129fa625b13c4

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Healthcare Sector: A Study

Health insurance carriers are currently in a dilemma, whether to purchase an analytics platform, assemble a platform and then use it. Lack of proper infrastructure is a big hindrance for analytics in healthcare system, dominated by paper-based transactions and the dearth of their electronic imprints. Since health contracts are based on the payment of money, depending upon the health status of patients, health insurers have an incentive to build an analytics platform. Currently, the healthcare insurance companies, who are willing to purchase analytics platforms, have limited options to choose from. While options are being worked upon, healthcare insurance lags behind property and casualty carriers, who are not restricted by intricate security measures and government hindrance. Read more at :

http://www.insurancetech.com/2015-outlook-analytics-in-health-insurance/d/d-id/1318241?

Sigmaway consultants have worked with clients in benefits solutions workspace providing analytics on healthcare plans. For more details visit

http://www.sigmaway.us/

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