Banking on healthcare

The success of a company depends on the productivity and work performance of its employees, and its health and wellness programs are seen to be pivotal in contributing to its employees’ ability to function and perform at a high level.

However, there are still gaps in the current market setup to provide effective healthcare coverage and delivery across regions. Legacy propositions by the public and private sectors built on models that have not changed in most markets.

Companies therefore have a distinctive opportunity to package and position their health and wellness initiatives as viable business models and as an enabler of social good. In such scenarios, financial institutions can be instrumental in ensuring they not only are an active participant and have an instrumental role in the evolving ecosystems, and in some cases be the lead orchestrator if they are able to act fast and now. With tepid growth and an ever-challenging business environment, financial institutions are increasingly on the lookout for new adjacent business opportunities that can turbocharge their core business. Given the positive macro factors, health and wellness initiatives could very well turn out to be the new frontier for achieving sustainable growth.

This paper will delve into how non-traditional players, and specifically banks, can play in the health and wellness space and the personal fulfilment ecosystem. In doing so, we will examine the demand drivers behind the surge for health and wellness programs, insight driven from past learnings and the full life-cycle customer journey identifying the associated opportunities with life milestones.