RIYADH: The Council of Health Insurance on Friday announced a strategic partnership with Plug and Play, Silicon Valley’s leading innovation platform connecting startups, corporations, venture capital firms, universities, and government agencies.
Plug and Play Middle East, in partnership with the council, will launch the Kingdom’s first open innovation platform called iHub focused on the health insurance industry.
In line with Vision 2030 goals to digitize government services, as well as develop new areas of the economy, iHub will bring together insurers, healthcare providers, tech-based startups, and healthcare experts to solve industry-specific challenges, develop new services and products, and discuss the best digital policies and regulatory changes needed for the Kingdom’s healthcare and insurance sectors.
Council secretary-general Dr. Shabab Al-Ghamdi said: “The partnership agreement with Plug and Play is one of the most important strategic partnerships to enable the sector, entrepreneurs, and emerging companies to innovate technical solutions for the private health insurance sector that overcome challenges and enhance quality and efficiency for beneficiaries to obtain their full rights of protection and care.”
Plug and Play Middle East will support in building and operating iHub’s open innovation platform with a focus on digital product innovations and emerging technologies that will improve healthcare outcomes within Saudi Arabia’s healthcare and insurance sectors, while also growing the health tech and insurance tech digital economy.
The platform will also support the plans of global and local startups to grow and expand to the Saudi market and beyond.
Abdullah Al-Sharqi, the council's chief technology and digital transformation officer, said: “Emerging technology such as artificial intelligence, blockchain, and IoT is disrupting the health insurance sector and providing opportunities for health insurance companies and healthcare providers to transform their business models and the beneficiary experience.
“iHub will be the eyes and ears of digital innovation for the entire sector, to enable its transformation.”