Tad Bit About Watch Your Health
India’s foremost InsurTech and HealthTech enterprise that drives persistency through health-based rewards is Watchyourhealth.com India Private Limited commonly termed Watch Your Health (WYH). Working with the B2B partners on Shared-Value Program to actively engage and create business uses Enterprise-level Engagement Programs with health being the predominant factor. WYH pushes the envelope to deliver innovative ideas to drive well being of the people.
Through smart design and technology, we enable and empower our partners to engage with their clients. We create technological innovations to save money as well as efficiency from the current insurance industry model. We focus on data storage. We also use new data streams and ultra-customizing tools from internet-connected devices to dynamic pricing and premiums are discounted based on observed behavior.
About The CEO
The bustling and energetic CEO of Watch Your Health is Mr. Ratheesh Nair playing a key role in conceptualizing all the innovative solutions successfully driven by WYH, setting the tone for future development. He bravely adopted the online business model and broke the routine mode of operation, owing to his extensive knowledge and varied experience in online consumer behavior. He has successfully curated intuitive products leveraging behavioral science to make them extremely easy to adapt. He collaborates closely with his energetic tech team to ensure the development of a seamless platform to ease the onboarding of WYH’s B2B partners. With his relentless motivation, astute mentoring, and setting them challenging goals, he is instrumental in grooming the young and bright minds that join the WYH Team.
The Target Audience
WYH’s rich work can be seen live with its esteemed clientele in the Life & Health Insurance sector, with some notable names including Manipal Cigna Health Insurance, ICICI Lombard General Insurance, Kotak Life Insurance, Universal Sompo General Insurance Company Limited, and Reliance General Insurance.
Chola MS General Insurance leads the Motor Insurance sector, while Cartula Health India Private Limited and Dr. Lal PathLabs lead the Healthcare & Diagnostic sector. WYH also ventures into the hospital sector, with Madhavbaug Multidisciplinary Cardiac Care Clinics & Hospitals leading the way.
WYH recently entered the pharma segment by acquiring Zydus Cadila and Glenmark Pharmaceuticals, while TPAs and Aggregators such as RenewBuy, United Healthcare India Private Limited, and Health India Insurance TPA Services Private Limited round out the basket for WYH’s diverse customer base.
Difference Between WYH And The Companies Working In The Same Domain
WYH is great in the space “Health-Based Rewards Program” as its proven business model is replicated throughout the entire health eco-system of sectors such as insurance, pharmaceutical, hospitals, HCPs, diagnostic labs, and so on. Customers’ health is assessed, tracked, and rewarded using the WYH proprietary technology health stack, which maintains, analyses, and improves its B2B2C client health parameters in collaboration with its B2B partners through the Shared Value Programme.
As of today, there is perhaps no other competitor in the “Health-Based Reward Program” domain that reproduces the benchmark set by WYH. WYH was never dethroned from timely deliverables despite being the leader in the InsurTech and HealthTech domains. Regardless, each new entrant only encouraged WYH to think outside the box and take another step forward.
Unlike, other players in the same domain WYH provides a technology platform and drives the utilization of this platform and as a result, it becomes a long-term partnership with its B2B clients throughout the journey. Even though WYH is a product-based company, it tailors its solutions to the specific problem that its B2B clients face.
WYH believes in the theory “Horses for Courses” and intends to provide unique and customized solutions as per the client’s varied demands. Their solutions are primarily scalable, with the ability to be upgraded to any extent at any time. WYH’s AI-based technology captures human behavioral patterns, identifies preference-based readings, and notifies the app of the resulting actions.
WYH thrives in delivering something new to each of its customers on board as suggested by the track records. WYH tends to follow the latest innovations and implants in the overall technology package curated for its patrons. Interestingly, the way CIBIL score portrays a summary of the credit history, rating, and support; similarly, the WYH-curated CIBIL HEALTH SCORE appears to portray a summary of the individuals’ total health and wellness quotient. WYH works hard on creating an economic marketplace for all B2B health clients and customers to take advantage of benefits and discounts on high-quality products through its partnerships. WYH is considering global health-tech partnerships using the multilingual enterprise platform.
Challenges Faced By WYH During The Pandemic
WYH, like all other businesses, was sailing in the same boat. But, as the saying goes, “when the going gets tough, the tough get going,” and WYH lived by this principle. Against all odds, WYH produced outstanding results. Despite the chaos, the team remained connected and motivated thanks to remote connectivity. Through Zoom meetings, new employees were onboarded and acclimated to the company culture. Surprisingly, regular video calls, online team games, and a virtual coffee hour kept the team spirits high and roaring. All of this resulted in a significant boost for the business, as health became a primary focus worldwide during the pandemic backlash.
Positive Impact Due To The Emerging Technologies
Going digital is the way forward, driven by technology-enabled data analysis solutions, and WYH thrives by being at the top of its game in this capacity. As an example, WYH has seamlessly integrated its technology platform with deep learning platforms such as TensorFlow, resulting in a comprehensive, flexible ecosystem of tools for extracting vitals and health data via the app. This interface has the potential to shift the tide in the healthcare, pharmaceutical, insurance, and wellness industries. It bodes well for preventive medicine, elderly care, telehealth, remote care, virtual trials, medical adherence, and remote patient monitoring. Customers can now track their wellness and use remote vital signs extraction with the click of a button.
Another technological push is the implementation of the Ayushman Bharat Digital Mission, which provides a federated data structure based on each customer’s unique Health ID. This centralized data is then shared with doctors, hospitals, insurance companies, and pharmaceutical companies to better understand the individual’s medical history and treat them accordingly on any planet.
Obstacles Faced Around Digital Customer Experience
In today’s fast-paced world, people genuinely do not have time to be prudent enough to take care of their overall well-being. There is a trending shift of technology taking over the reins of human well-being, with people relying more on tech gadgets to give them an impetus to lead a healthy lifestyle. Solutions such as voice commands, AR/VR, tele-medicines, and teleconsultation are perhaps the need of the hour.
This is where a company like WYH comes in. WYH meets this need by combining digital and human intervention and works hard to change the dynamics of individuals’ overall well-being. It is only the mindset that needs to be altered; the rest will fall into place.
Importance Of Mapping Privacy Around Digital Customer Experience Journey
Every day, the digital world redefines customer expectations, with customers now using multiple digital apps to track not only their wealth but also their overall wellbeing, and they are looking for ways to communicate with experts online easily. Customer satisfaction is more important than ever. According to our research, 80 percent of customers now consider their experience with a company to be as important as its product; 70 percent of customers want to communicate with a company in real-time; and, interestingly, nearly 60 percent of customers expect the customer experience to be deeply connected. As a result, customer expectations are undoubtedly changing dramatically.
The question is, how can brands meet these expectations while also ensuring a smooth customer journey? Customer journey mapping is an excellent way to understand and optimize the customer experience, and it is critical in today’s transparent world.
Most Rewarding Thing About Your Job And Reason Behind It
The fact that we can assist our customers in leading an overall healthy lifestyle and, in most cases, keep their health vitals within a safe range is a great reward for us. All other accomplishments become secondary because this feeling gives us a tremendous amount of satisfaction and motivates us to keep going even in the most perplexing circumstances.
Your Definition Of Success
Passion, freedom, and impact, in my opinion, have been the driving forces behind our success. Sheer passion gives you a unique perspective on the world that others may not have. You must have a burning desire to succeed, as well as a firm belief that will keep you going. Passion, according to my philosophy, distinguishes those who can persevere in the face of adversity from those who cannot.
Goals Of 2022
After delivering massive results in the insurance and healthcare sectors, all of our energies are now completely focused on delivering in the pharmaceuticals sector. We have already onboarded two pharmaceutical behemoths and are all set to deeply penetrate this territory and thus broaden our hemisphere.
Challenges Faced To Reach This Level
Keeping up with the latest technology and developing new ways to integrate it with our solutions was probably the most difficult aspect of our business. We enjoyed such a situation because it allowed us to think outside the box to sail through the tide. We had to put in the effort day in and day out to get to where we are now. Our dynamic tech team had to use all of their creative abilities to curate innovative solutions that have become the new standard. Furthermore, as a team, we enjoy occasionally exceeding our benchmarks, which is a challenge in and of itself.
Strategies Adopted To Deal With Cyber Security Threats
We are making rapid progress across many frontiers in today’s fast-paced world of digital technology. Such advancements, however, give rise to cyber threats. Data is critical to us because we work in the service industry. Cyber security is becoming an increasingly important aspect for us as it assists us in protecting against information disclosure and electronic data theft.
The entire gamut of solutions provided by us is completely secured of the following threats:
- DDoS Attacks
As a tech company, we follow the best cyber security practices to keep the data of our clients safe and secured.
Recommendation To CEOs Looking At Designing Their CX Strategy
CX strategy is critical in our industry for accelerating the achievement of our various business goals. Typically, many businesses struggle with the customer experience. WYH’s business strategy is primarily focused on service improvement, with a strong emphasis on its goals of online support and effective health coaching.
Our passion for the customer experience never wavers under any circumstances. We provide amazing customer experiences at every interaction and touchpoint, bringing them closer to developing deep trust in the brand.
Customer satisfaction, in my opinion, is the key to customer retention. And customer satisfaction strategies cannot be implemented and achieved unless the customer experience is prioritized. It would be an understatement to say that customer satisfaction is the result of consistently providing positive experiences. Organizations have been propelled to produce today’s significantly better products by competition and context. As a result, by paying attention to customer expectations, you can create winning experiences through the right combination of competitive analysis, innovation, implementation, and, most importantly, engagement.
Moving forward, we intend to develop multilingual platforms for all apps curated by us shortly. Aside from that, we are on the verge of integrating all of our solutions with the Ayushman Bharat Digital Mission, which we believe will result in tremendous ease of business. And, on the strength of our massive customer base, which is the largest in this industry in our country, we intend to build the most prominent wellness marketplace for all of our users.
You must ask yourself questions such as, “What is your true passion?” What excites you about what you’re doing? Passion distinguishes those who can persevere in the face of adversity from those who cannot. Work on your passion or make your work your passion.