AXA Assistance: Innovación en Salud Digital Semana del Seguro Madrid, Febrero 2016 AXA Assistance AXA Assistance – principales datos 7.523 EMPLEADOS €1,3 BILLONES € 23 MILLONES RENTABILIDAD > 9.4 MILLONES > 14 MIL EXPEDIENTES GESTIONADOS REPATRIACIONES ACTIVIDAD EN 200 PAÍSES 3 INGRESOS PRESENCIA EN 33 PAÍSES AXA Assistance – principales datos 43% Europa 1% Asia 34% Francia, África, Medio Oriente, I. Mauricio 11% América 10% AXA Travel Insurance *Porcentaje de los ingresos por región 4 AXA Assistance España – Principales datos 2015 € MAS DE 1.000 24/24 > 7/7 1.500.000 €147 MILLONES EMPLEADOS SERVICIO SINIESTROS GESTIONADOS INGRESOS 17.000.000 CLIENTES FINALES Principales datos del mercado de salud en España • Primas de seguros de Salud en 2014 ~$6,8B, con un crecimiento anual de ~4%: • Mayores costes de siniestros: • Crecimiento en el segmento de “colectivos” • Mayor presión en los márgenes por el desarrollo y mayor poder de los comparadores online • Consolidación de la industria como respuesta a la presión sobre los márgenes • Desarrollo de modelos de negocio alternativos basados en innovación tecnológica Innovación Experiencia de clientes Control de costes Experiencia digital Calidad Propuesta de Valor AXA Assistance Situación actual del mercado de salud Un desafío para todos… • Propuesta de valor a los clientes • Gestión del riesgo • Menos tiempo disponible • Mayor número de pacientes Aseguradoras • Mayores costes Sector Público Médicos Hospitales • Mayores costes en personal y equipamiento Farmacéuticas • Medicamentos genéricos • Poco acceso a los pacientes Dispositivos de salud digital – de qué estamos hablando 3 grandes categorías: bienestar, seguimiento de la salud y dependencia Oxigeno Juegos Temperatura Robots Glucosa Tensión Bienestar Peso Nutrición Actividad Física 8 | Ventajas y beneficios Soluciones conectadas que optimizan el mercado… • Mayor productividad • Recolección de información • Mayor frecuencia en la • interacción con los clientes Diferenciación Aseguradoras Sector Público Médicos Hospitales • Mayor productividad • Control de gasto • Fiabilidad de los datos • Fidelización de clientes • Teleconsulta eficiente • Mayor productividad • Continuidad en el tratamiento a los pacientes Farmacéuticas • Acceso a venta directa de • medicamentos Contacto directo con los clientes Principales datos conectividad Móvil en España 49 MM 80% posee un móvil 38% posee una tablet conexiones móviles vs 46 MM de habitantes 1er país en usuarios únicos de móviles (87%) Posición 8 en MCommerce Usuarios que compran a través del móvil 32% tráfico internet Ya es vía móvil 2 horas al día Conectados a internet vía móvil Fuente: We Are Social’s Compendium of Global Digital, Social and Mobile Data, Trends and Statistics 2016 Las nuevas tendencias nos llevan a plantear nuevos modelos de negocio alternativos TELE CONSULTA TELE MONITOREO Los sistemas remotos pueden ayudar a reducir los costes entre 10-20%, al reducir las visitas médicas y hospitalizaciones AXA Assistance apuesta por una propuesta con foco en servicios y en la experiencia del cliente… Desde una experiencia de servicios a un viaje integral de la mano de AXA Assistance Salud conectada Orientación a proveedores preferidos Gestión de patologías crónicas Coaching conectado en Wellness Atención a domicilio Atención al cliente y capacidades clínicas con Teleconsulta 12 | Asistencia médica internacional de emergencias Teleconsulta TPA Internacional Segunda opinión médica … entregando una única solución integrada Para la monitorización de enfermedades crónicas o para Fitness Coaching Una App “HealthLook” Dispositivos conectados (Salud o Fitness) Equipo médico de AXA Assistance: entrega de servicios de monitorización, supervisión, apoyo y asesoramiento Oportunidades en el Mercado de asistencia de salud en España Approach to define a value creation plan for 2020 Where are we going? Where are we? 1. Strategic Foundation is a robust fact base on point of departure that drives to strategic insights and identifies the most important value creation levers Strategic foundation 2. Bold, full-potential ambition and target equity value 3-5 years out 3. Clear strategic choices on where to play and how to win Ambition CHOICES Where to play How to win How do we get there? 4. Set of 5-10 critical initiatives to increase equity value Priority initiatives This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 15 Approach to define a value creation plan for 2020 Where are we going? Where are we? 1. Strategic Foundation is a robust fact base on point of departure that drives to strategic insights and identifies the most important value creation levers Strategic foundation 2. Bold, full-potential ambition and target equity value 3-5 years out 3. Clear strategic choices on where to play and how to win Ambition CHOICES Where to play How to win How do we get there? 4. Set of 5-10 critical initiatives to increase equity value Priority initiatives This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 16 Overview of health insurance market in Spain • Health insurance premiums accounted for ~$6,8B in 2014 - Health insurances split between assistance (~88%), reimbursement (~10%) and subsidies (~2%) • Health insurance premiums growing at ~4% p.a.; growth mostly driven by price increases aiming to offset continuous rise in claims costs Health assistance insurance market overview • Cost increase in health insurance claims driven by aging population, cuts in public spending, VAT reforms and emerging consolidation of clinics - Most drivers likely to continue putting pressure on business margins in the near future • Growth of “Colectivos” segment and development of online comparators also putting pressure on health insurance margins • As a response to margin pressure, emerging industry consolidating - top 3 player increased market share from 54% to 63% (2010-2014) • Markets under similar circumstances have developed alternative business models leveraging technology innovation (same development likely to emerge in Spanish Market) Key takeaways for AA • In order to be aligned with health insurance provider needs, AA health assistance value proposition should prioritize services that: - A) help insurers avoid costs or perform a better cost control process - B) helps insurers provide a more consistent high quality customer experience; in particular a more digital and integrated experience This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 17 Pressure on margin specially critical for small players Smaller players have less room for margin squeeze Profitability index: 1 minus claims expenses as % of premiums (excluding civil servants) Profitability index as a function of Relative Market Share 30% Sanitas Aegon DKV ASISA AXA 20 Mapfre M.G.Catalunya A.S. Colegial Generali Adeslas Fiatc 10 IMQ 1,000 Millions € 0 0.01 0.02 0.05 0.1 0.2 0.5 1 2 5 10 Relative market share (including civil servants) Note: RMS leader=Leader’s premiums/second competitor’s premiums; RMS others=competitor’s premiums/leader’s premiums Source: ICEA; INESE, 2014 This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 18 Margin pressure has triggered alternative business models in other markets (leveraging technology) TELE CONSULTATION TELE MONITORING By reducing visits to doctors and hospitalizations, remote systems can help reduce costs by 15-20% This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 19 Approach to define a value creation plan for 2020 Where are we going? Where are we? 1. Strategic Foundation is a robust fact base on point of departure that drives to strategic insights and identifies the most important value creation levers Strategic foundation 2. Bold, full-potential ambition and target equity value 3-5 years out 3. Clear strategic choices on where to play and how to win Ambition CHOICES Where to play How to win How do we get there? 4. Set of 5-10 critical initiatives to increase equity value Priority initiatives This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 20 Health assistance claims can be divided in two groups: clinical services and non-clinical services CLINICAL SERVICES Hospitalization External consultation NON-CLINICAL SERVICES Patient management Cross border healthcare • Medical helpline, triage & teleconsultation • Second medical opinion • Authorizations • Elite concierge services Corporate and individual mobility • Travel for treatment International claims management Major surgeries • International TPA • Corporate mobility/ Individuals mobility Day hospital Emergencies • US PPO Emergency medical assistance • Medical staff/Medical transportation Home healthcare • In-Home healthcare/ Telemonitoring Note: Insurance premium include Health Assistance and Reimbursment This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 21 Non-clinical services account for ~5% of the overall health insurance claims expenditures DIRECTIONAL WIP Total = €5,668M 100% €5,384M €284M Emergencies €481M Day hospital €192M Emergency medical assistance €76M Major surgeries €485M 80 Second medical opinion €16M External consultations €947M Corporate and individual mobility €37M 60 Home healthcare €23M Authorizations €45M 40 Hospitalizations €3,279M Medical helpline, triage & teleconsultation* €88M 20 0 Clinical services Non-clinical services Note: Includes medical assistance and reimbursement; *teleconsultation currently not offered by insurance companies Source: ICEA; DBK; Ministerio de Sanidad, Servicios Sociales e Igualdad; Bain analysis This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 22 Non-clinical services landscape highly fragmented PRELIMINARY Internalized services Other players Source: LitSearch; Expert calls; Bain analysis; This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 23 Clearly defined criteria used for markets prioritization PRELIMINARY HABILITY TO WIN MARKET ATTRACTIVENESS Criteria Weight • Expected market size in 2020 • €0M-€25M • €25M-€50M • €50M-€75M • €75M-€100M • €100M+ • 30% • Profitability (% EBITDA) • Negative profit • 0%-5% • 5%-10% • 10%-20% • 20%+ • 30% • Strategic value to capture other segments • Initial CAPEX investment • Available IT Platform • Competitive landscape • Access to clients • Very low strategic importante • Very high investments • Some strategic importance • High investment • Medium strategic importance • Medium investment • High strategic importance • Low investment • Key strategic choice • No additional investments • No existing platform • Basic platform, large changes • Platform needs several changes • Platform needs minor changes • Platform fully developed • Very high competition • High competition • Medium competition • Low competition • No competition • Some access • Good access • Differentiated access • No access • Exclusive access • 40% • 25% • 25% • 25% • 25% Source: Bain analysis This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 24 Proposed health assistance markets prioritization HIGH 80.0% Priority 3 Priority 2 Authorizations €45M Market attractiveness 60.0 40.0 Emergency medical assistance €76M Second medical opinion €16M Priority 1 Medical helpline, triage & teleconsultation €88M Home healthcare and telemonitoring €23M Corporate and Individual Mobility €37M LOW 20.0 €50M Estimated Market Size 2020 0.0 20.0 40.0 60.0 80.0% LOW HIGH Ability to win Note: *International claim management, Travel for treatment and concierge services market size not to scale Source: Bain analysis This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 25 SP among top EU markets in Tele-Health readiness rankings COUNTRY RANKING BY TELE-HEALTH MARKET READINESS SCORE SPAIN PERFORMANCE IN SOME KEY EVALUATED DIMENSION • Most favorable legal framework to develop Tele-Health - In some countries, such as Germany or Austria, remote assistance is forbidden or only used for emergencies - Regulation and acceptance of electronic prescription - Regulation and acceptance of medical remote assistance • Active population in terms of digital background (mostly in public sector) - Doctors likely to prescribe electronically - Doctors likely to share information with other professionals across devices and electronic networks • Lack of awareness of positive ecosystem among key stakeholders • Low development of potential Tele-Health market - Low market size compared to market potential *Market readiness score - average of the scores in 5 categories: eHealth adoption, level of digitalization among population, Tele-Health market potential, ease of starting Tele-Health business, Tele-Health regulatory frameworkValues of the scores are between 0 and 1, where score 1 represents country which has the highest value in all criteria; Source: research2guidance - EU Countries’ mHealth App Market Ranking 2015 This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 26 Tele-Health emerging in the public and private sector • Between 19931994, 1st pilot to introduce Electronic Health Record in 3 healthcare centers in Andalucia 1990-2000 • In Spain since 2004, Tunstall is a leading provider of TeleAssistance, introducing TeleHealth services (TACTIO) • In 2005, the Spanish Government launches electronic prescriptions • By 2010, ~95% of primary healthcare doctors had used Electronic Health Record • In 2010, ~250M electronic prescriptions were sent to pharmacies, and in regions where electronic prescriptions were used, achieved up to ~15% reduction of primary healthcare visits 2001-2005 • In 2007, Hospital Virgen de la Poveda (Madrid) opens its TeleHealth unit, TeleConsultation for dermatology services 2006-2010 • In 2010, Telefonica launches its Global E-health unit for Tele-Health services • In 2015, development of 'Receta Médica Online‘, online platform that connects doctors and pharmacists with patients to renew private prescriptions 2011-2014 • In 2015, Hospital Virgen de la Poveda creates Sociedad Iberica de Telemedicina y Teleconsulta (SITT) - 250 professionals and health companies in Spain and Portugal to promote and contribute to the development and knowledge of TeleHealth Public sector This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent 2015 LON Private sector 140701_Market_Assistance_Health_V13 27 Recap: Approach to define a value creation plan for 2020 Where are we going? Where are we? 1. Strategic Foundation is a robust fact base on point of departure that drives to strategic insights and identifies the most important value creation levers Strategic foundation 2. Bold, full-potential ambition and target equity value 3-5 years out 3. Clear strategic choices on where to play and how to win Ambition CHOICES Where to play How to win How do we get there? 4. Set of 5-10 critical initiatives to increase equity value Priority initiatives This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 28 Telemonitoring approach should have attractive economics for both Axa Assistance and insurance companies Private sector Insurance company Axa Assistance TM fees lower than physical consultation fees x TM avoidance rate* Cost of providing TM services lower than TM fees charged to insurers Attractive economics for both parties Note: *% of physical consultations avoided due to use of TC This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 29 ~1M people with chronical conditions in the private sector Private sector Condition considered for Tele-Monitoring • Chronic obstructive pulmonary disease • Diabetes • Type of obstructive lung disease characterized by chronically poor airflow Prevalence (1) Number people with condition Avoidable cost per patient (2) • 2.2% • ~198k • ~€3,600 • 4.6% • ~410k • ~€150 • 8.0% • ~720k • ~€113 • 0.4% • ~32k • ~€300 • Monitoring of blood pressure, blood oxygen, pulse… • Group of metabolic diseases in which there are high blood sugar levels over a prolonged period • Monitoring of glucose levels • Hypertension • Cholesterol • Different metabolic or coronary alterations that require medical supervision • Obesity • Monitoring of blood pressure, weight, cholesterol levels,… • Pregnancy • Monitoring of pregnant women weight, blood pressure, oximetry, etc. and mobile solution for pregnancy management Total • 1,361k Note: (1) Prevalence: % people with a given condition in the entire population; (2) Avoidable cost per patient: Emergency consultation and hospitalization cost could be avoided by using telemonitoring This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 30 Maximum TM fee for insurer vary by type of condition Private sector ANNUAL COST PER MEDICAL CONDITION FOR INSURANCE DIRECTIONAL X AVOIDANCE RATE TELEMONITORING = MAXIMUM FEE THAT COULD CHARGED FOR TELEMONITORING Note: Number are direction, actual number might change +/- 10% Source: Bain analysis This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 31 AA able to offer TM below threshold price across conditions Attractive margins could be charged to insurers Private sector ~300 CHRONIC OBSTRUCTION PULMONARY DISEASE Price limit Cost DIABETES~6K PATIENTS ~€1,080 ~€45 ~€22 ~€71 HYPERTENSION/CHOLESTEROL ~8K PREGNANCY~3K PATIENTS ~€90 ~€38 ~€34 ~€22 ~30% mark-up on cost assumed for pricing to insurers at roll-out phase This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 32 Potential approach for AA tele-monitoring solution Tactio solution could be used as platform to provide tele-monitoring services Solution based on of the shelf SaaS tele-monitoring platform Patient side Cloud infrastructure Medical team side • Smartphone • Measuring device • Tablet Main requirements Main requirements Main requirements Connection of devices agnostic to brand Secured data transmission (SSL encryption) Tracking of medical parameters Process for patient identification Secured data storage System of automatic alerts Process for confidential data use consent Embedded data traceability System to notify patients if required Upload medical measurements (e.g. glucose levels) Connectivity to 3rd party systems (public clinical history platforms) Upload files capability (e.g. education pamphlet) Read access to clinical history Connectivity to 3rd party actors (e.g. pharmacies) Write access to clinical history This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 33 Potential approach for AA tele-consultation solution Tactio solution could be used as platform to provide tele-consultation services Solution based on of the shelf SaaS tele-consultation platform Patient side Cloud infrastructure Medical team side • Smartphone • Desktop • Tablet • Desktop Main requirements Main requirements Main requirements Video capability Secured data transmission (SSL encryption) Video capability Process for patient identification Secured data storage Process for Doctor/Nurse identification Process for confidential data use consent Embedded data traceability Triage capability Upload files capability (e.g. images) Connectivity to 3rd party systems (public clinical history platforms) Upload files capability (e.g. prescription) Read access to clinical history Connectivity to 3rd party actors (e.g. pharmacies) Write access to clinical history This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent LON 140701_Market_Assistance_Health_V13 34 Healthlook
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