The availability of healthcare is an essential component of society. However, across Africa, many people are still unable to obtain treatment for primary and secondary illness or have access to even the most basic of medical care. This in part results from the lack of available health insurance and the high cost of medical treatment. Evidence suggests that more than 150 million people globally suffer financial catastrophe every year because they have to pay directly for their healthcare fees. Providing affordable and widespread insurance coverage can be difficult as it is challenging to accurately identify individuals and protect against health insurance fraud. VoLo Trust Information Platform (VTIP) enables accurate identification of the individuals. Its scalable database analyzes information and provides comprehensive reports and business intelligence.
VTIP Health Pro aims at providing the managers and the health providers with accurate and real-time reports on the status of their businesses. In fact, from the collected data, the system generates reports and statistics that help the management to monitor in real time the activities and make necessary adjustments. These reports highlight:
– The profitability report per policy
– The profitability report per beneficiary
– The expenses per family
– The expenses per health provider
– The expenses per guarantee
VoLo and April teamed to create an extranet to provide the market with a comprehensive home insurance product (HRM). Combined with April’s a proven expertise in insurance, distribution, marketing and compliance, VoLo’s innovative technologies provide real estate agencies with detailed reports on their transactions.
Health insurance providers face multiple risks and are particularly challenged in parts of Africa where there is a lack of reliable identification systems or accurate history on claims. VTIP assists not only in the reduction of risk by eliminating insurance identity fraud, but also by providing means to transparently evaluate claims by person and organization. VTIP assesses accurately risk premiums through:
VoLo understands that a variety of factors must be analyzed in order to target insurance customers and provide tailored products. In addition to the type of data that is collected and synthesized to reduce risks, VTIP allows consumer and business intelligence to access reports that provide a clearer picture of the people and organizations that insurance providers serve. Therefore, this enables better marketing, product development and competitive pricing. These reports can be tailored to meet the needs of the insurance provider. Some examples of business intelligence reports include:
Due to VTIP’s integrated and centralized database, information, such as address change or claims, is easily and instantaneously updated throughout the system. Combined with effective training, support and a proven use in challenging environments, VTIP is easy to implement and keeps pace with the shifting medical and insurance needs across Africa.