According to Michael Serbinis, CEO and founder of digital health benefits company League, the insurance world is lagging behind the times. It’s slow, relies too much on paper, and is not customer-centric. And League aims to change that.
“The existing guys are still growing and still doing well from a profitability standpoint,” Serbinis said in an interview with DX Journal. “They see any kind of new tech as cute or novel, but not something you talk about at a board meeting, or something that’s going change the effect of the quarter or year.
The lack of major innovation in both process and technology is something legacy insurance providers are no doubt keenly aware of and focused on.
A report from McKinsey details that younger, digitally-native consumers are turning to insurtech companies out of a desire for convenience and a love of mobile technology. Insurtech’s early adoption of technology such as IoT and blockchain puts them ahead of their entrenched insurance rivals, states the McKinsey report — and not just when it comes to a customer interface, but when it comes to “venturing into untapped markets and addressing unmet needs.”
It’s not just customers that have been responsive to the insurtech approach to insurance services. By some estimates, nearly half (48%) of all SMEs will look to digital insurance options over conventional providers within the next four years. Furthermore, a report from PwC, has recommended that every major insurance provider prepare for the future of healthcare where customer-centric tools that are personalized and easy-to-use are tablestakes.
“When insurance companies start to pay attention, usually what they do is very surface,” said Serbinis. “In the world of health insurance, that tends to mean better websites and a new app, to use your existing structure of a health insurance plan.”
Enter League
Serbinis, a self-described rocket scientist turned entrepreneur, founded League in 2014 after watching how much trouble people had trying to access benefits. Generally speaking, things keep getting more expensive with no additional value offered, and often a cumbersome or antiquated user experience.
A serial entrepreneur, Serbinis holds a steady series of startup success stories under his belt; from his early work with the Musk brothers in California, to his building up of web-based file storage company DocSpace, to co-founding the massive e-reader company Kobo.
While League started out as a portal for benefits users and health vendors,League now offers businesses a versatile selection of insurance options.
The company strives to offer layers of flexibility; employers can choose from traditional group plans and health spending accounts, or lifestyle spending accounts that include a variety of therapy choices not usually found in conventional plans. On top of the offering, the company gives employers a suite of administrative tools to makes the process paperless, automated and easy to navigate.
“This is an industry that’s filled with paper-based processes. And processes that involve a lot of humans,” said Serbinis. “By our very nature, we’re an end-to-end digital benefits platform that connects not only all the financial services providers – the insurance companies, the retirement companies, the enterprise and their HR system, their payroll system — but most importantly, the end consumer, the end employee, that’s got the League app on their phone and can avoid having to deal with the same paper and frustration and delay.”
League’s insurance offering is delivered via a digital wallet where employees can coordinate health appointments and services from more than 1,000 health vendors within the app itself. Digital records and claims are managed by League so employees can skip the paperwork.
“We have become the end-to-end digital platform for offering all benefits and health insurance to employees,” said Serbinis. “We replace the plastic cards, paper and booklets (given out to employees) with a unified wallet that has all your coverage and benefits in one place. And then a bunch of services around it to help you get the most out of your benefits — to get the services you need better, faster, cheaper.”
The newest addition to League’s set of tools is something the company calls Health Concierge — a chatbot interface that lets employees contact a registered nurse through the app.
A personalized evolution
The biggest evolution at League came when the company shifted away from simply coordinating consumer health vendors with insurance groups, to then taking on the full responsibilities of an insurance provider. It was a pivotal and long-lasting decision, says Serbinis — and it’s one that he believes puts League ahead of other Canadian benefits providers.
Transitioning from a health vendor marketplace to a provider of every level of the insurance process allows League to implement its technological innovations — like the Health Concierge — and scale them to benefit the entire insurance process, for both employers and employees.
“The customer-centric approach is largely about empowering people to live their best lives,” said Serbinis. “The way to do that is not only putting lipstick on a pig in terms of a better website, but it’s fundamentally about giving that end-user more choice and freedom and leveraging data to make great recommendations and provide a personalized experience. I think a lot of people are missing the boat on that.”
In one week, innovators and digital transformation leaders from across North America will gather at the Symes in Toronto for the mesh conference. With a focus on four threads — business, media and technology, society, and marketing — mesh will connect, share, and inspire others to think about changing how we think, organize, operate and behave.
The mesh conference differs from your typical transformation and innovation event in part thanks to two simple rules: no slide decks and canned presentations, and no pay-to-play sessions. The result? Lively sessions where the audience is encouraged to engage with speakers throughout.
The theme for this edition is “Human-powered, tech-enabled.” Speakers and attendees will explore the pivotal role of technologies in augmenting human capabilities to improve workplace diversity, enhance competitiveness, and even turn back time on human-induced environmental damage through “de-extinction”.
Dr. Michael Geist (Canada Research Chair in Internet and E-Commerce Law, University of Ottawa) and Tyler Chisholm (clearmotive marketing)
Canada’s digital policy has gone off the rails. What should the engaged community be doing?
Dr. Michael Geist (Canada Research Chair in Internet and E-Commerce Law, University of Ottawa) will join Tyler Chisholm (clearmotive marketing) to discuss the Meta ban on news, Google’s newly announced search policy around news (backed by $100 million for the industry) and podcasting regulations. Dr. Geist will explain why he has described the law as a “total policy disaster” and an “epic policy blunder” by the government. On the heels of his testimony before the CRTC, he’ll share his insights on what we might expect next and what engaged communities should be doing. Gain a greater understanding of the policy landscape and its impact on how we live and work.
Marissa McNeelands (Toast) and Elena Yusunov (Human Feedback Foundation)
Leveraging AI to create a more diverse and inclusive tech industry
Marissa McNeelands (CEO of Toast) will be joined by Elena Yunusov (Human Feedback Foundation) to discuss how her company works to eliminate gender bias in tech hiring. TOAST, Canada’s first female-focused talent partner, uses a unique AI-driven recruitment tool to help organizations diversify their tech teams and support women in tech careers. This session will explore the role that data and algorithms could play in fostering a more inclusive workforce.
Natalie Black (Mia), Liberty White (CHOZEN MEDIA),
Prieeyya Kaur Kesh (Mia), and Anne-Marie Enns (Mia)
AI, Creativity, and Inclusivity: Empowering Tomorrow’s Marketing Leaders
This panel explores how AI and creativity can foster economic empowerment through tech skills training and career growth. The panel will delve into the impact of AI on marketing, the importance of diversity and inclusivity in its design, and the role of continuous education. The session aims to understand economic empowerment through tech skills training, career growth, and a nurturing environment. FeaturesNatalie Black (Mia), Liberty White (CHOZEN MEDIA), Prieeyya Kaur Kesh (Mia), and Anne-Marie Enns (Mia)
Dana O’Born (Council of Canadian Innovators), Tracey Bodnarchuk (Canada Powered by Women) and Stuart MacDonald (Narrative Fund)
Innovating for Canada’s Competitive Edge
Join Dana O’Born (Council of Canadian Innovators), Tracey Bodnarchuk (Canada Powered by Women), and Stuart MacDonald (Narrative Fund) as they discuss the future of Canadian competitiveness through the lens of innovation and transformation. This session will explore the technology and energy industries and why innovation is a team sport. Looking at both growing and transitioning sectors, they will explore how Canada can leverage its strengths and overcome challenges to maintain a competitive edge in the global market and create a sustainable, prosperous future.
Ben Lamm (CEO of Colossal) and Chris Hogg (mesh conference / DJG / Digital Journal)
Why ‘de-extinction’ is vital to fighting climate change
Join Ben Lamm (CEO of Colossal) and Chris Hogg (DJG) for a riveting discussion on de-extinction and its role in combating climate change. Could the woolly mammoth, the Tasmanian tiger, and the dodo bird be agents of change? Learn about Colossal’s groundbreaking work in reviving extinct species and how this contributes to biodiversity restoration. We will delve into the technology behind halting extinction, preserving animal DNA, and reversing human-induced environmental damage. Explore how de-extinction can restore lost ecosystems, increase biodiversity, and contribute to environmental sustainability. This session promises to spark insightful discussions on the future of biotech and environmental conservation.
AI in Marketing: Magic Wand, Double-Edged Sword or Pandora’s Box
Darnel Moore will explore customer marketing strategies in the context of AI. We will delve into how AI can personalize content at scale and analyze customer behaviour while highlighting the importance of human insight and intervention in marketing. Have we crossed the line when the computer tracks, predicts and influences customer behaviours? Where and when is it best to deploy machine learning and AI in your marketing strategy? At what point in the process is it still best for humans to drive the process? How do we ensure that AI supports the customer journey and that the tools we deploy do not undermine an authentic, transparent relationship? Join us as we aspire to find where the balance is best placed between AI tools and human intention, avoid repeating the mistakes of social media and aim to harness the power of AI responsibly.
The Almighty AI: Friend or Foe for the Sustainability Agenda?
While headlines are dominated by the thrill and alarm of the rise in Artificial Intelligence applications and utility across industries, they have overshadowed another existential hot topic: Sustainability and ESG. This fireside chat will examine AI’s role in the Sustainability agenda for communities, businesses, and national states, and in what ways leaders across sectors are taking action today for impact tomorrow. We might even imagine new kinds of futures where artificial and collective intelligence collide in this unique chat forum. Features Amy Peck (EndeavorXR) and Rika Nakazawa (NTT).
Lori Nikkel (CEO, Second Harvest), Winston Rosser (VP, Second Harvest)
and Mark Evans (Marketing Spark)
Amplifying Community Actions: Case Study of the Second Harvest Food Rescue App
Lori Nikkel (CEO of Second Harvest) and Winston Rosser (VP, Second Harvest) will join Mark Evans (Marketing Spark) to discuss their innovative approach to combating food waste and insecurity, particularly during the COVID-19 pandemic and its aftermath. They’ll share how their technology platform has facilitated partnerships between food donors and non-profits, enabling them to scale the redistribution of surplus food from coast to coast to coast. Learn about the increased efficiency that allowed them to connect 5,600 donors with 3,400 non-profits–rescuing 24 million pounds of food, averting 79.3 million pounds of greenhouse gases, and saving 13.2 billion litres of water in the last year alone.
Colleen Pound (Proxure), Mary Jane Dykeman (INQ Law) and David Potter (Vog)
AI & Procurement: The Intersection of Innovation, Risk and Law
Join Colleen Pound (CEO of Proxure), Mary Jane Dykeman (INQ Law) and David Potter (Vog) for an enlightening session on the transformative role of AI and technology in professional services. They will delve into how these tools are levelling the playing field, particularly in procurement and legal services. Colleen, with her expertise in automation and predictive analytics, will shed light on procuring AI solutions. Mary Jane, a seasoned health and data lawyer, will discuss the legal and risk management aspects of AI adoption. This session promises a rich blend of insights from the tech startup and healthcare sectors.
Digital Journal is an official media partner of the mesh conference. Learn more and get tickets to the mesh conference, happening December 6-7 in Toronto, at meshconference.com
mesh is Canada’s digital transformation event experience. Taking place in Calgary (April 12-13, 2023) and Toronto (November 2023), mesh aims to create a digital transformation network and event experience that helps organizations and leaders determine what to do, how to do it, and how to be successful. Learn more at meshconference.com
We’ve seen plenty of studies, industry updates, and tech investments pointing to an AI revolution in virtually every industry, especially IT and customer service.
But one Gartner survey shows a lag in AI adoption by the finance industry. The technology research and consulting firm conducted a survey of 130 finance leaders and noticed “limited” AI implementations:
“Despite AI’s potential, most finance functions’ AI implementations have remained limited. As they begin to chart out a plan for how best to prioritize that additional investment, CFOs should partner with their finance leadership teams to compare their current progress against their peers’ and identify concrete recommendations from early adopters on how best to accelerate AI use in their function.”
Marco Steeker, Senior Principal, Gartner Finance Practice
Here are a few highlights from the report:
Most finance leaders using AI are only in early stages
Gartner found that only 8% of finance organizations are using AI in production, which is much less than the 20% in other areas like HR, real estate, and procurement. This speaks to finance being over two times behind in AI use compared to the rest of the departmental functions. Additionally, a mere 1% of finance leaders say they’re in the scaling phase.
Finance leaders prioritize other initiatives over AI
The survey asked respondents why they haven’t used AI in primary finance functions, and the majority of answers included these four reasons:
Lack of technical capabilities
Low-quality data
Insufficient use cases
Other priorities
The latter reason felt the most problematic within finance leaders’ perspectives:
“What this perspective underappreciates is that AI can be a critical enabler of finance leaders’ “other priorities,” such as more dynamic financial planning or close and consolidation efficiency.”
Marco Steeker, Senior Principal, Gartner Finance Practice
A recent Dye & Durham report suggests AI could help stabilize the financial sector as interest rates and economic indicators sway by offering efficiency, cost reduction, and accuracy — but the hesitancy remains. Their report also found that a majority of skilled professionals, including lawyers, doctors, and financiers, express discomfort with incorporating AI into their services.
Existing AI use in finance varies across different functions
The Gartner survey found that finance departments don’t use AI for one main function across the board. Instead, it’s use cases are varied and include:
Veronica Ott is a freelance writer and digital marketer with a specialization in finance and business. As a CPA with experience in the industry, she’s able to provide unique insight into various monetary, financial and economic topics. When Veronica isn’t writing, you can find her watching the latest films!
Joining the mesh conference as a keynote speaker is Colossal CEO, Ben Lamm. Known for his pioneering work at the intersection of biotechnology and conservation, Lamm’s presence promises to ignite discussions and offer unparalleled insights into the future of biotech, de-extinction, and environmental sustainability.
Also joining mesh as a keynote speaker is Dr. Michael Geist, a prominent lawyer and leading authority on technology law and policy. Geist has been a regular columnist on digital policy with leading publications such as the Globe and Mail and Toronto Star and is the creator and host of Law Bytes, one of Canada’s top technology podcasts.
With a focus on four threads — business, media and technology, society, and marketing — the mesh conference hosts Canadian digital transformation leaders who will meet to connect, share, and inspire others to think about changing the way we think, organize, operate and behave.
Ben Lamm (left) and George Church started “de-extinction” company, Colossal. – Image courtesy Colossal
“De-extinction” is vital to fighting climate change
Colossal Biosciences’ Ben Lamm will join the mesh conference for a conversation about the work his company is doing to bring back the woolly mammoth, the Tasmanian tiger, and the dodo bird.
Lamm is a serial entrepreneur who started Colossal in 2021 with George Church, a biologist at Harvard Medical School. The company is working to advance the field of species de-extinction in order to bring back biodiversity and reintroduce species to Earth to help fight climate change.
Colossal is building technology to stop the extinction process, secure animal DNA, and reverse environmental damage created by humans.
“In addition to bringing back ancient extinct species like the woolly mammoth, we will be able to leverage our technologies to help preserve critically endangered species that are on the verge of extinction and restore animals where humankind had a hand in their demise,” Lamm says.
De-extinction reverses plant and animal extinction by creating new proxy versions of these lost species. By bringing back extinct animals, the goal is to restore ecosystems that have been lost. By bringing back extinct animals, the goal is to restore ecosystems that have been lost, while increasing biodiversity and restoring ecosystem resilience.
Learn more about Colossal:
Canada’s digital policy has gone off the rails
Dr. Michael Geist will join the mesh conference for a keynote conversation on Canada’s digital policy where he will share his views on why he thinks it’s gone off the rails, and advice about what engaged communities should be doing.
Geist is the Canada Research Chair in Internet and e-Commerce Law, a Faculty member at the Centre for Law, Technology and Society, and a Professor at the University of Ottawa.
Photo courtesy Dr. Michael Geist
At the mesh conference, Geist will lead an engaging discussion that will delve into the current landscape of Canadian digital policy, focusing on the repercussions of the Online News Act, known commonly as Bill C-18. The removal of Canadian news from major platforms like Facebook and Instagram by Meta, as well as the anticipated response from Google involving a ban on Canadian news in search results, will be explored in depth.
Geist, a recognized authority in technology law and policy, will also shed light on the implications and nuances of the Online Streaming Act, formerly known as Bill C-11 that imposes new rules on certain online streaming services.
This session aims to foster a comprehensive understanding of the challenges posed by evolving digital policies in Canada and to propose actionable steps for proactive engagement and advocacy.
Two weeks until we mesh
The mesh conference is a two-day event that will feature a series of inspiring talks, interactive workshops, and panel discussions that delve into how technology and innovation can be used to augment human capabilities to improve our world.
Attendees will gain insights into the latest digital trends, emerging technologies, and strategies for achieving human-centered digital transformation.
The mesh conference is back in Toronto on December 6-7 after relaunching earlier this year in Calgary where more than 200 people met to connect, share, and inspire.
The mesh conference recently announced it will be donating all proceeds from the event to Second Harvest, Canada’s largest food rescue organization and leader in perishable food redistribution. See more speakers and get your tickets at meshconference.com
mesh is Canada’s digital transformation event experience. Taking place in Calgary (April 12-13, 2023) and Toronto (November 2023), mesh aims to create a digital transformation network and event experience that helps organizations and leaders determine what to do, how to do it, and how to be successful. Learn more at meshconference.com