ITC DIA Europe

Boundlss: helps health & life insurers attract & reward healthy behavior

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Apr 13, 2017

Australian startup Boundlss helps health and life insurers improve the health & wellbeing of their customers and potential customers at a fraction of the cost of previous preventive health services. Using data from over 200 wearables, sensors and mobiles, Boundlss digital health platform and chat-bot provides computer Artificial Intelligence (AI) coaching, fun challenges and rewards, and insights to help customers live a healthier, happier and more productive life. Boundlss works quietly in the background with the wearables and apps customers already use. They can connect their health apps or wearables, share data with their health insurer, get simple nudges via push notification; and receive incentives and rewards, like a reduced premium or gym discount, for healthy daily behaviors. Leading to better health outcomes, reduced health risks and reduced claims & costs to insurers. 

Pay as you live products
With Boundlss, health & life insurers can provide innovative, deeply personalized, behavior- based insurance products that attract & engage customers. Boundlss digital health platform uses biosensor data and AI to deliver scalable health programs through a highly unique, blended AI-human chat experience – thereby helping insurers identify, predict and manage risk in innovative new ways that attract profitable healthy customers and reduce claims.  
Ernst & Young estimates 15% of health, life and auto insurance products will be personalized behavior based policies by 2020. The Boundlss platform enables insurers to swiftly design and launch deeply personalized ‘pay as you live’ type products for the young healthy market.

Boundlss recently won insurtech startup of the year at the Australian fintech awards, and participated in Startup Bootcamp 2016 Singapore’s fintech program. They won an innovation grant from the West Australian Department of Commerce to develop their white-label mobile app for insurers.

Xtra by AXA & chat-bot Alex
Boundlss has run a range of pilots including one with one of Australia’s fourth largest health insurer. Currently they work with AXA in Hong Kong to encourage and reward healthy behavior with a custom designed mobile app, Xtra by AXA, and chat-bot (Alex).

AXA’s personal coach-bot, called Alex, is a combination of human and artificial intelligence. Specifically, an advanced keyword recognition system helps Alex identify and respond to inbound queries about health and wellness content. For example, Alex is capable of answering broad questions about wellness goals and objectives in addition to more abstract issues relating to gym routines, healthy food recommendations or even what sport activities are available in Hong Kong. However, Alex is not just a reactive chat-bot, its proactive nature can push questions and make suggestions to users based on its observations of their routine and behavior. Ultimately, this effort from AXA demonstrates the increasingly automated nature of consumer engagement within the insurance industry. Although the AI field is still in its infancy, AXA’s first step on the AI frontier is an impressive combination of deep technology addressing a fundamental end-user need.

Alex is bilingual and can speak both Cantonese and English. Xtra is freely available for everyone in Hong Kong, whether they’re an AXA customer or not. No strings attached, just free on-demand wellness advice for those who want it, when they want it.
Xtra seamlessly connects with over 150 wearable devices and mobile apps. From popular fitness wearables, smart watches and apps to the most innovative healthcare applications such as Fitbit, Apple Health, Jawbone, Misfit, Strava, Garmin and many more.

It’s also interesting to note that Alex is not just yet another reactive, chatty, bot. It has the capability to start a conversation, based on triggers, such as last night’s sleep pattern, missed schedules and the time of day or week. Predictive AI is really taking shape

Why we selected Boundlss for DIA Amsterdam
Boundlss shows the competitive benefit of predictive AI technology for insurance engagement. The startup incorporates some of the best aspects of Insurtech – partnering for agility, using AI in a front-line, customer facing capacity, digital engagement, behavior modification & wearable data.

We are pleased Boundlss will showcase Xtra by AXA at DIA Amsterdam.

Who are Boundlss?
Boundlss were founded 2015, by Jonah Cacioppe (CEO) and Mike Kruger (CTO). Later they were joined by Jeroen van Dalen (COO).

Prior to starting Boundlss, Jonah was COO and director of a leadership development and coaching firm for 7 years. He has run meditation programs for over 15 years and was an artist/designer for 15 years. Mike founded a bespoke software development firm for 6 years. Prior to that he was CTO for Cityscape 3D where he revolutionized the quality of architectural visualization using bleeding-edge CGI, GIS, and cloud computing technology. He has built robots, health tracking apps and biomedical devices. Jeroen co-founded a health tech company providing innovative data solutions to hospitals. He also co-founded a consulting firm which developed products such as a “Stress Measuring Computer Mouse” based on biometric signals.

Boundlss has currently raised AUD 1.9m with the bulk of the money from a single angel investor, Kerry Harmanis. They are planning a Series A raise mid 2017 looking for a further $5m to fund further development of their AI, health programs and platform features. The Boundlss team have offices in Australia, China & Hong Kong,

Jeroen van Dalen (left), Mike Kurger and Jonah Cacioppe (right)


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