This settlement comes at a time when the worldwide health insurance sector faces a main data administration disaster, which has solely accentuated larger demand for high-quality, auditable, and dependable health data. After all, data is the lifeline of healthcare at the moment, with dependable and censorship-resistant exchanges essential to high quality and effectivity.
DEVITA’s decentralized health data sharing financial system allows Data Owners to revenue from offering their private health info to the Decentralized Health Database or by way of the sale of their data on the DEVITA Marketplace to Data Users who require the acquisition of untampered health data collected by way of dependable means. Data is immediately sourced from the sufferers and securely recorded to an immutable and interconnected decentralized ledger, made accessible on a permission foundation to Data Users for analysis, market evaluation, or within the case of insurance corporations, particularly, Bodi Insurance, to acquire correct and dependable perception about people’ health info within the analysis of health dangers.
Commenting on the partnership with DEVITA, B.Zolbayar (CEO of Bodi Insurance) remarks: “We are delighted as this (DEVITA) presents a way to reliably, securely, and efficiently source high-quality personal health data directly from the data owners in our evaluation of health risks to yield cost-effective insurance products for our consumers.”
Bodi Insurance, established in 1995, has persistently delivered cost-efficient insurance companies in Mongolia, nationwide, by way of its 26 branches situated in 330 soums of 21 provinces. Bodi Insurance is Mongolia’s official consultant of the French multinational insurance agency, AXA, and consists of over 200 staff and 800 representatives from the Bank Insurance Network to present each native and worldwide health insurance. Annual gross sales of Bodi + AXA Insurance merchandise yield 3 Billion MNT or $1 Million USD and far of this success has been attributed to available and dependable nationwide census data for the creation of tailor-made insurance merchandise, localized to match the wants of the Mongolian individuals.
Since 2020, Bodi Insurance has fervently advocated the full-on digitization of the Mongolian health insurance sector so as to stay globally aggressive. The newest implementation of blockchain expertise by way of DEVITA’s proprietary decentralized data administration system for the acquisition of top quality, auditable, and dependable health data demonstrates the corporate’s dedication to making use of the newest digital applied sciences to remedy systemic inefficiencies prevalent in legacy healthcare and delivering prime quality insurance merchandise to its prospects.
Joseph Lee, Co-founder of DEVITA, states, “DEVITA facilitates the secure peer-to-peer exchange of personal health data in real-time and at a fraction of the cost compared to health information exchanges and electronic health record service providers. Championing healthcare inclusion and upholding global data management and privacy standards, including GDPR and HIPPA, DEVITA proffers a suite of digital healthcare services to ensure reliable health data is readily available to all those who continuously strive to enhance our lives.”
The first step to fixing the issue of health data administration is figuring out the reliability of the data supply. DEVITA’s proprietary decentralized identification answer, ONE-ID, verifies healthcare data sources and locations, permitting the safe and dependable data trade between trusted events, together with sufferers, physicians, health suppliers, pharmaceutical, insurance, and different healthcare enterprises. The partnership between DEVITA and Bodi Insurance marks a vital milestone as the primary use case of DEVITA’s blockchain answer to the healthcare trade.
DEVITA’s core options embrace a telehealth service for wider-reaching entry to healthcare companies, coupled with a health data market and a decentralized health database with a proprietary decentralized identifier of verifiable credentials, ONE-ID. The native platform token, LIFE, fuels person engagement throughout all options.
For extra details about DEVITA, please go to https://www.devita.global or https://bodi-insurance.com for Bodi Insurance. Please additionally be part of your native DEVITA telegram neighborhood by way of the hyperlinks offered right here for our newest developments: Mongolia, Korea, English.
SOURCE DEVITA