Complementary health policies offered by Laven cover up to more than 120 innovative medical technologies that are not reimbursed by the National Health Fund, and which are very expensive to purchase. Insurtech’s offer makes it possible to finance drug therapies and medical procedures, which are often associated with a cost exceeding hundreds of thousands, and in some cases a million PLN. Examples include the treatment of leukemia or prostate cancer surgery with da Vinci robot. This is the direction in which Laven wants to further develop its product. In addition, each Laven policy also provides a second medical opinion provided by the international company MediGuide.
– We provide the insured with financing and organization of treatment in cases that are not covered by the National Health Fund. Our product is a new quality on the Polish insurance market, dominated by supplementary policies, which focus on simple treatments or shortening the queue to the doctor. Currently, we are focusing on business development in Poland where, over the next 2-3 years, we want to acquire over 100,000 insured persons annually. We also plan to expand in the region of Central and Eastern Europe. We are thinking about countries with growing economies and similar deficits in the health care market, such as Romania – says Piotr Karda, CEO of Laven.
Laven offers complementary policies in the form of group insurance, which employers can buy for their employees. The company focuses on attracting companies employing more than 50 people, although the offer can be used by companies with as few as 5 employees.
Using a sophisticated actuarial model, Laven can tailor the scope of the policy, including a list of available modern drugs, medical devices or disease groups to the needs and age ranges of employees of a particular company, as well as the size of the employer’s resources. It is also possible for employees to co-finance the insurance.
– We have seen a huge potential in insurtech, which gives Poles the chance to access modern medicines and therapies, allowing the most effective methods of treatment. The dynamic development of medicine we are currently observing, the progressive aging of the society, the difficult access to health care and, at the same time, the pursuit to extend and improve the quality of life, will certainly be the driving forces of the health care market in the coming years. Complementary health insurance fits into these trends, and with its unique offer, Laven can become a leading beneficiary of these changes – says Krzysztof Bachta, managing partner of 4growth VC fund, which invested in Laven.
The potential of the market for complementary health insurance shows studies. As many as 72 percent. Poles believe that patients should have the opportunity to choose to pay for diagnostics and treatment with more modern methods than those offered as standard by the National Health Fund. What’s more, seven in ten respondents are personally interested in such an offer, if it guarantees the use of a more modern method of treatment than the one whose cost is covered by the National Health Fund. This is the result of a survey conducted a few years ago for the National Chamber of Commerce of Medical Devices POLMED.
