Open Finance Community Insurtech challenge: dacadoo

What business problem do you solve? Why is it important to your clients? 

We provide insurers with a digital health engagement platform that can help them to better engage with their customers, reduce healthcare costs, and improve the overall health outcomes of their policyholders.

Can you briefly describe your product or solution and in which countries do you operate?

dacadoo is a digital health platform that offers a range of tools and services to help individuals track and improve their health and well-being. Some of the key benefits that dacadoo can offer its customers include: 

• Personalized health assessments: dacadoo provides personalized health assessments that use a range of data points to provide a detailed view of an individual's health status. 

• Health tracking: dacadoo allows users to track their fitness, activity levels, sleep patterns, nutrition, and other health-related data through the use of wearable devices, mobile apps, and other tools. 

• Health coaching: dacadoo offers health coaching services that can help users set goals, develop healthy habits, and track their progress towards their health and wellness goals. 

• Social support: dacadoo provides users with access to a community of like-minded individuals who are also interested in improving their health and well-being. Users can connect with others, share their progress, and support one another in their wellness journey. 

• Rewards and incentives: dacadoo offers a range of rewards and incentives to help motivate and incentivize users to make healthy choices and maintain their progress towards their goals. 

Overall, dacadoo is designed to provide a comprehensive approach to health and wellness, with personalized tools and services to help individuals take control of their health and live their best lives. We operate in Switzerland, Germany, Austria, Spain, Portugal, Italy, Belgium, Netherlands, United Kingdom, United States, Canada, Singapore, Australia, South Africa, and the United Arab Emirates.

Can you describe in a few words one of these collaborations (What was the objective? What were the main challenges? What results did your client obtain thanks to the implementation of your solution?)

They have strengthened their user experience, improving their users’ lifestyles and increasing loyalty to their brand. The main challenge was to provide an auto-managed platform to improve the relationship with their users by providing a tool to improve the latter’s lifestyle. The users are more engaged and motivated to spend time using their apps and navigating our customers’ sites, receiving positive messages and increasing the opportunity to apply upselling/cross-selling. But what it is more important, dacadoo has made the final users more active, which is key to improving their health.

What is your business model and how easy is it to duplicate to additional geographies? 

dacadoo has a business-to-business (B2B) model, where it offers its digital health engagement platform to insurers, employers, and other organizations. The platform is designed to help these organizations improve the health and well-being of their policyholders or employees, while also reducing healthcare costs and increasing engagement. dacadoo generates revenue by charging these organizations a fee for access to its platform and services. The fee is typically based on the number of users or policyholders who are using the platform, as well as the specific services that are being provided. Our platform can be customized to meet the specific needs of each organization, with a range of features and services that can be added or removed depending on the organization's goals and budget. dacadoo also offers consulting services to help organizations implement and optimize their use of the platform. As a SaaS we can quickly provide access to our service in any country, always complying with privacy rules. It is already in 18 languages and can easily be translated to more as required.

Where do you see your fintech company in five years? What impact or difference are you trying to achieve for financial institutions in your portfolio?

We will continue to expand our presence in the global digital health market, with a focus on building partnerships with insurers and employers in new regions. dacadoo will also expand its platform to include new services and features that further enhance its ability to support individuals and insurers in improving health outcomes. Another potential direction for dacadoo is to continue to innovate in the use of artificial intelligence (AI) to provide personalized coaching and support to individuals. This could involve the development of new AI-powered tools and services that help individuals to make more informed decisions about their health, as well as the integration of AI into existing coaching services to make them more effective. 

Additionally, dacadoo may continue to develop its social support features, creating a more robust and active community of users who are able to provide one another with encouragement and motivation. This could involve the integration of new social features, such as peer mentoring and group challenges, that help users to stay engaged and motivated over the long term. Overall, the future of dacadoo is likely to be shaped by ongoing innovation in digital health technology, as well as by evolving customer needs and expectations. By continuing to stay at the forefront of these trends, dacadoo is well positioned to continue providing valuable services to individuals and insurers in the years ahead.