[Customer Spotlight] LivWell’s Pandemic-Prevention Technique: How LivWell Rewards Wellness, Monetizes Well being and Grows Companies
Editor’s Be awareMoEngage’s Buyer Highlight initiative permits us to speak to prospects about their development methods, engagement ways, greatest practices in product and advertising and marketing. This buyer highlight function optionsLivWellOne of the in style healthcare and wellness apps relies in Southeast Asia.
The pandemic taught us one thing: Prioritizing well being and wellbeing above all else. Many new apps for well being and well-being can be found available on the market that permit you to do your train at dwelling, participate in on-line meditation classes, and even be part of dwell coaching lessons. These apps have skilled unprecedented development in utilization, retention and time spent in-app.
This text will study a few of these points from the angle of 1 app. It’s primarily based in Southeast Asia and has made large strides throughout the healthcare and wellness sector. They’ve an modern approach to do it: they use blockchain know-how with superb incentives and gamification packages.
We’ve got Mr. Nikhil Verma because the CEO and Co-Founding father of LivWell. That is Asia’s largest blockchain-based wellness and well being app. LivWell rewards its members with smoothies and private coaching classes, memberships to gyms, insurance coverage, and different advantages. We’ll talk about how LivWell is monetizing healthcare, rewarding wellness, creating an ecosystem that rewards wholesome existence, and extra.
We might respect your transient introduction about your self, the folks you’re employed with at LivWell, and what LivWell does as an total well being and health model.
Let me let you know a bit of bit about myself. My expertise in monetary providers spans shut to twenty years. I began my profession with HSBC in India, and labored throughout the retail banking and wealth administration sectors. After I used to be transferred to Hong Kong by HSBC, I spent a great deal of time in Hong Kong working with the regional places of work. This gave me an amazing overview of the present state of the wealth administration business, and particularly the insurance coverage enterprise. That is after I had my first impression of Vietnam in 2009, again then. Asia and Southeast Asia have been very restricted in these days to Hong Kong, Singapore Indonesia, Malaysia, Malaysia or Thailand. Vietnam was fully obscured. It was 2009 that I first moved to Vietnam. Since then, I’ve by no means appeared again. I spent over a decade now in Vietnam, working with main insurance coverage firms like Prudential and international manufacturers like AXA. I additionally labored with Generali earlier than ending my company profession because the deputy CEO of Aviva Vietnam Life, an insurer primarily based within the UK with a powerful presence in Vietnam.
It is attention-grabbing to notice that I solely began endurance sports activities 5 years in the past. My ex-boss at HSBC, who was an enormous operating fanatic, launched me to operating. He taught me about diet and really useful sneakers. I used to be captivated by operating and endurance sports activities and have become eager about the entire space of wellness. We used to search for methods to point out that we, as insurance coverage firms, are right here that can assist you. We have been in a position, for apparent causes, to give you decrease claims, higher merchandise and a long term of underwriting. That is the fantastic thing about insurance coverage. One other great thing about insurance coverage is that it does not actually present worth. At the least not in SEA. I haven’t seen a powerful resemblance between insurance coverage firms and prospects who’re capable of profit from more healthy existence. Clients who present progress, whether or not that is weight reduction or elevated stamina, ought to have their insurance coverage reviewed. Insurance coverage is a contract you could join at this time. The premium doesn’t change and your coverage might be in impact for 30-40 years. Your well being can enhance yearly if all you do is true, however we as insurance coverage firms are unable to make that decision and provide the profit. Though it was not like a eureka second, because of this insurance coverage firms proceed to search for artistic methods to carry this synergy collectively.
My private eureka second was when Ironman grew to become my first aggressive sport. It’s mentally exhausting and bodily very taxing. You need to run, swim, cycle and cycle for 7 hours. It’s a very exhausting sport and also you surprise what you might be doing along with your life. However when you attain the end line, it is a revelation for you that something is feasible. This was when LivWell was born. I consider there may be quite a lot of potential for individuals who need to be more healthy and monetize their well being. Well being is one space that may be costly. How do you generate profits from the exhausting work you set in? It is easy. Bank card firms will give extra money for spending, whereas an airline will give extra to fly extra. A resort will give extra for lodging, however you aren’t getting any return in your well being. That is the core idea behind LivWell. We would like well being and wellness to be rewarding. Not solely will you be ok with your self, however you will additionally use the energy, steps, and kilometers in a significant approach. This is the reason we pay money. Additionally, you possibly can defend your self by amassing information which matches again to insurance coverage firms and helps them make higher underwriting decisions. That is how LivWell was born on the finish of Ironman. Since then, there was no trying again.
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