Hyper-personalization in the life and health insurance industry

Since tech giant like Apple and Google have agreed on a new industry standard for consolidation of medical records, the term “FIHR” (Fast Healthcare Interoperability Resources) has been thrown everywhere. Industry analysts say the rapidly growing demand for freer exchange of health care information is creating an electronic health record market estimated to reach $38 billion by 2025.

As growing rates of longevity paired with increasing rates of chronic disease have led to increases in health insurance premiums, life and health insurance providers are faced with the challenge of needing to unfold innovative alternatives to such problems. But he potential benefits of FIHR and the hyper-personalization of medical records goes beyond the domain of traditional life and health insurance providers, allowing an entire ecosystem of companies to benefit from such innovations.

Peter Ohnemus explores what the FIHR framework is, how it’s hyper personalization could change people’s lives, the new opportunities that are being created across industries, and why insurers and life and health services providers need to pay attention to it.