Foyer Global Health and Galytix launches digital health platform for insurers

Galytix recently went live with its HealthX platform with an initial focus on providing portfolio analytics and automating core claims processes for health risks

 Galytix, the GenAI platform for the financial sector, and Foyer Global Health, the international health insurer for expatriates and companies has announced a collaboration to implement HealthX, the digital health platform for insurers.

The International Private Medical Insurance (IPMI) market is built on data that changes significantly on a regular basis. HealthX uses generative AI to combine structured and unstructured data from multiple sources to produce insights, analytics and alerts that enhance business propositions, customer service, and performance. The range of services offered by HealthX will include portfolio analytics, claims alerts and processing, underwriting and repricing, and risk reporting.

Galytix recently went live with its HealthX platform with an initial focus on providing portfolio analytics and automating core claims processes for health risks. HealthX allows users to score claims within seconds, removing the need for an individual to read through each claim and make that decision. The choice of this solution is part of Foyer Global Health’s long-term strategy of having a standardised data model and consolidated view on health data. The implementation with Foyer Global Health is delivering decisions at a quicker pace and reducing the amount of time spent on gathering and processing data from days to a few minutes. It is not only freeing up staff to focus on business growth, but also significantly improving the processing times and data quality.

Raj Abrol, CEO, Galytix said, “HealthX’s powerful generative AI capabilites and easy interface, which take the form of a ‘Health Agent’, enable users to understand a topic faster, uncover new viewpoints and health insights, and get things done more easily. Let’s take a question like ‘what are the high-risk claims?’ Normally, a user might break this question into smaller ones, sort through the vast information available, and start to piece things together. With Health Agent, users can get an answer by simply asking the question in plain English. It’s like having an analyst on demand that automates routine work and increases productivity.”

François Jacquemin, CEO, Foyer Global Health said, “It’s difficult to imagine the sheer volume of data generated by health insurance policies, especially considering the various formats we receive it in. This platform is fundamental to our growth as a business and will transform the way we work with health data by providing us a ‘golden source of truth’. We’re excited by the efficiency gains and risk insights we are already generating by leveraging AI at this early stage.”