THE EVOLUTION AND INNOVATION OF CRITICAL ILLNESS INSURANCE: A TECHNICAL ANALYSIS
DOI:
https://doi.org/10.34218/IJCET_16_01_183Keywords:
Critical Illness Insurance Innovation, Digital Healthcare Integration, Insurance Risk Management, Precision Medicine Implementation, Wearable Technology SolutionsAbstract
Critical Illness insurance has undergone significant transformation driven by technological advancements, demographic shifts, and evolving healthcare needs. This comprehensive article examines the evolution from traditional frameworks to modern innovations in CI insurance, highlighting the integration of precision medicine, wearable technology, and artificial intelligence. The article explores how digital transformation has revolutionized risk assessment, claims processing, and patient care while addressing implementation challenges and regulatory considerations. The article demonstrates the industry's shift toward personalized coverage solutions, preventive care approaches, and hybrid policy structures, emphasizing the critical role of data analytics and IoT integration in improving both operational efficiency and patient outcomes. The article also considers market responses to these innovations and provides strategic recommendations for insurers navigating this rapidly evolving landscape.
References
Risye Dillianti, et al., "Revolutionizing the Life Insurance Industry: Exploring the Interplay of Digital Transformation, Transformational Leadership, and Innovation Capability," IEEE 2024 International Conference on Science, Engineering and Business for Driving Sustainable Development Goals (SEB4SDG). Available: https://ieeexplore.ieee.org/document/10630310
Armand Mekontso Dessap, et al., "Technical Innovation in Critical Care in a World of Constraints: Lessons from the COVID-19 Pandemic," Am J Respir Crit Care Med. 2023 Jan 30;207(9). Available: https://pmc.ncbi.nlm.nih.gov/articles/PMC10161748/
Sarah M Lyon, et al., "The Effect of Insurance Status on Mortality and Procedural Use in Critically Ill Patients," Am J Respir Crit Care Med. 2011 Oct 1;184(7). Available: https://pmc.ncbi.nlm.nih.gov/articles/PMC3208649/
John Mourmouris, et al., "Multi-criteria decision-making methods applied in health-insurance underwriting," Health Syst (Basingstoke). 2022 Jun 19;12(1):52–84. Available: https://pmc.ncbi.nlm.nih.gov/articles/PMC10013473/
Rashmi Kansal, et al., "An Empirical Analysis in Analysing the Critical Factors Influencing the Health Insurance Business in Achieving Sustainable Development Using Structural Equation Model," IEEE IAS Global Conference on Emerging Technologies (GlobConET), 2023. Available: https://ieeexplore.ieee.org/document/10150027
Uche K. Chude-Okonkwo, et al., "Enabling Precision Medicine via Contemporary and Future Communication Technologies: A Survey," IEEE Journal of Biomedical and Health Informatics, vol. 26, no. 5, pp. 2287-2298, 2022. Available: https://ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=9775692
Saurabh Suman, et al., "A Review on Implementation of Wearable Devices in Healthcare," IEEE International Conference on Inventive Computation Technologies (ICICT), 2024. Available: https://ieeexplore.ieee.org/document/10544749
Andrea Pazienza, et al., "Adaptive Critical Care Intervention in the Internet of Medical Things," IEEE Conference on Evolving and Adaptive Intelligent Systems (EAIS), 2020. Available: https://ieeexplore.ieee.org/document/9122762
Swiss Re Institute, "The economics of digitalisation in insurance: new risks, new solutions, new efficiencies," Swiss Re Sigma Report, no. 5/2023, pp. 1-42, 2023. Available: https://www.swissre.com/dam/jcr:dfcf4d4a-d6f6-424c-949f-794066470c8f/2023-09-sri-sigma-5-the-economics-of-digitalisation-2023.pdf
Yashana Malhotra, et al., "Regulatory Challenges in Technological Disruptions of Insurance Industry: Navigating Legal and Ethical Dimensions," International Journal of Novel Research and Development , Volume 9, Issue 5 May 2024. Available: https://www.ijnrd.org/papers/IJNRDTH00154.pdf
Prabhdeep Singh, et al., "Use of Ensemble Based Approach to Predict Health Insurance Premium at Early Stage," IEEE International Conference on Computational Intelligence and Sustainable Engineering Solutions (CISES), 2022. Available: https://ieeexplore.ieee.org/document/9844398
Sonal Gulati, et al., "Digital Marketing Strategies: Insurance companies in India," The Empirical Economics Letters, 2024. Available: https://www.researchgate.net/publication/383656248_Digital_Marketing_Strategies_Insurance_companies_in_India
Muhammad Saqib, et al., "Artificial intelligence in critical illness and its impact on patient care: a comprehensive review," Front Med (Lausanne). 2023 Apr 20. Available: https://pmc.ncbi.nlm.nih.gov/articles/PMC10158493/
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Venkata Bhanuprasad Ananthavaram (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
