Beazley unveils 'no-gap cover' for digital health & wellness providers

Specialist insurer Beazley has launched virtual care insurance in Asia, designed to provide protection against risks associated with technology-enabled healthcare and wellness services.

Beazley said the impact of COVID-19 has accelerated the uptake of digital health services, making it an attractive sector to new entrants and investors.

The virtual care insurance aims to ensure health and technology policyholders have not unexpected gaps in coverage.

Evan Smith, Beazley’s global head of miscellaneous medical & life sciences, said: “COVID-19 has driven a mass uptake of digital health services globally. The adoption of such technologies comes with a wide range of interconnected risks that are distinct from traditional healthcare exposures, such as data privacy and security concerns, and technology failure. Beazley Virtual Care addresses the complexity of these risks by offering no-gap cover in one policy for healthcare and tech providers.”

Nicholas Tey, Beazley’s regional manager, international financial lines, Asia, said: “With demand for digital healthcare services in Asia set to rise in the coming years, the launch of Beazley Virtual Care in our region comes at an exciting time for the sector. We are very pleased to support clients as they develop and grow their digital health services, and ensuring that their risk exposures are covered in a simple modular policy.”