@SirDavidPorter in #Dubai as Vaibhav Kashyap and co-founder Javed Akberali launch WellX #ai at #InsureTek. This innovative #insurance technology helps keep people healthy using latest #tech paying cash back for exercising & staying fit.
#DIFC #blockchain
?@SirDavidPorter in #Dubai as Vaibhav Kashyap and co-founder Javed Akberali launch WellX #ai at #InsureTek. This innovative #insurance technology helps keep people healthy using latest #tech paying cash back for exercising & staying fit.#DIFC #blockchain https://t.co/Z8EwwSRzdi
— Bruce Porter Jr. (@NetworksManager) February 9, 2022
00:01
we are live at the insure tech
00:04
conference in dubai i’m david porter
00:06
with the washington elite the world’s
00:08
greatest conference streamers
00:10
welcome uh online here why don’t you
00:12
guys introduce yourself and tell us what
00:14
company you’re working with great um my
00:17
name is debhav kashyap i’m the
00:18
co-founder ceo of lx.ai
00:21
we’re an insurtech that brings
00:23
wellness-based health insurance products
00:25
to market
00:26
and javits his co-founder um in trying
00:30
to change the way the industry looks at
00:32
health insurance overall
00:34
very nice so what got you guys into the
00:36
health insurance field
00:38
so the main idea was that
00:41
traditionally when you interact with
00:42
insurance it’s usually a negative
00:44
connotation because you’re either paying
00:46
for it or you’re getting a claim so
00:47
you’re falling sick etc so you never
00:49
feel good about it and the idea is that
00:51
we want to be in an everyday uh every
00:53
lives of our customers and give them
00:55
good happy experiences so that they
00:57
change the way they feel about insurance
00:58
and maybe even move away from insurance
01:00
all together absolutely to create
01:01
day-to-day value
01:03
so yeah when i look at insurance if i
01:05
just take my own example last year i was
01:07
blessed not to have fallen sick the
01:10
whole year but i still ended up paying
01:11
an insurance premium that cost me an arm
01:13
and a leg
01:14
now i get that supposed to keep me
01:16
safe for when i can’t afford the build
01:18
but when you know when i
01:20
am in a better health
01:22
i find it a bit difficult to absorb
01:24
the you know the the need to have to pay
01:26
insurance
01:27
but if you came around and told me you
01:29
know what you need to pay this sort of
01:31
cost
01:32
to be able to stay healthy
01:34
you cannot put a price tag on health
01:36
right and all of a sudden i’m looking at
01:39
value that you’re able to give me
01:41
instead of something that i’m paying for
01:43
something that may happen
01:45
you’re doing something for me every day
01:46
so i really like you guys style here um
01:49
to to make it easier to feel better
01:52
because it’s so
01:53
annoying to file a claim like you have
01:55
to talk to lawyer after lawyer statement
01:57
after statement so it’s one of
02:00
the most progressive things i’ve heard
02:01
today there’s been a lot of talk about
02:03
how the industry hasn’t changed it
02:05
hasn’t changed in 20 years yeah so you
02:08
guys are working on that absolutely it’s
02:10
very cool very nice so how long have you
02:12
been working towards this so we started
02:15
off in july of last year and we’ve
02:17
launched today
02:19
effectively
02:21
thank you yes thank you so much
02:23
so yeah we wanted to get on stage today
02:25
to show the world what we’re all about
02:27
what time will you be on um well we just
02:29
we just got done okay um and we were on
02:32
with our technology partners who helped
02:34
us make it happen so we’ve got an entire
02:36
end-to-end digital onboarding journey
02:38
that
02:39
customers can go you know choose the
02:41
product that suits them that works for
02:43
them
02:44
from a health perspective and then
02:46
actually get it online
02:47
and then immediately after the
02:49
engagement starts to kick in and we’ve
02:50
partnered with some pretty exciting
02:53
partners from from across the globe so
02:55
we’ve got
02:56
whoop
02:57
that’s um that’s part of the program
03:00
it’s it’s one of the most advanced
03:01
wearable devices you can find
03:04
across the across the globe and then
03:06
we’ve got the people that are behind the
03:08
dubai 3030 challenge so we’re very much
03:11
homegrown and we understand
03:13
the market we understand the people
03:15
of the city
03:16
and we wanted to build a story that that
03:18
you know works towards them so we’ve
03:20
gotten the right partners to be able to
03:21
contextualize
03:23
that story and the idea is that we’re
03:25
building this ecosystem that people are
03:27
already engaging with and so we don’t
03:29
want people to change the way they do
03:30
wellness just do more
03:33
and so if you choose to play paddle
03:34
tennis or if you choose to go swimming
03:36
just go more often and we’ll reward you
03:38
for it we’ll give you cash back for
03:40
doing that oh wow okay so let’s uh share
03:43
a little bit more on this
03:45
uh so you do more activities and you get
03:48
cash back yeah so if you if you buy one
03:50
of our insurance plans um you can choose
03:52
what your step goal is or you can choose
03:54
to go to whichever gym
03:56
uh that’s in our ecosystem or engage
03:58
with whichever wellness party that’s in
04:00
our ecosystem and every time you do so
04:02
you hit your goal and you hit your goal
04:04
certain number of days in a month and we
04:05
give you money back very nice so yeah
04:07
our aspirations to create healthier
04:09
communities yeah we’re very indifferent
04:11
as to how you feel
04:13
you can get healthier but if you feel
04:16
something’s making you making you better
04:17
we want you to to do more of it we’re
04:19
going to encourage you to
04:21
various different engagement initiatives
04:23
and cashback
04:25
to be able to do that because we realize
04:27
the healthier you are the less you’re
04:28
going to claim the less you’re going to
04:30
go to the doctor right so why not
04:32
prevent something from happening when
04:34
you have the power to be able to do that
04:36
very nice so are you guys utilizing any
04:39
ai or is it a blockchain in the future
04:42
so absolutely a very big part of what
04:44
we’re doing is building up a health
04:46
score
04:47
and um and in fact if you if you take
04:49
the name that we put together right it’s
04:51
well x and the idea was to bring the
04:54
experience of wellness to the world of
04:56
insurance right so it’s an entirely a
04:58
play on
04:59
um
05:00
creating a wellness experience and then
05:01
that goes into starting to identify and
05:04
creating personalized hyper-personalized
05:06
experiences um along those lines and
05:09
then translating that into the insurance
05:11
so today
05:12
you do xyz wellness activity and we give
05:15
you cashback tomorrow we’ll tell you do
05:17
this activity and you’ll get more cash
05:19
back because of that because that’s
05:20
suited to your needs because what’s
05:22
wellness for him might not be wellness
05:23
for me might not be wellness for you so
05:25
our concept is that we will find the
05:27
right wellness activity for you
05:29
and help you do it more do do more of it
05:31
and then reward you by bringing the
05:32
price of your premiums down eventually
05:34
you have your little wellness concierge
05:36
and that’s learned a lot about you knows
05:39
what works for you and what doesn’t work
05:40
for you and then starts guiding you on
05:42
making you better very nice so where are
05:44
you guys based out of
05:45
we’re based in the difc in dubai
05:48
and we will expand
05:50
within the region fairly soon yeah i
05:52
revealed about technologies it has no
05:54
borders right well yeah it works here to
05:56
work everywhere else in the region right
05:57
yes and your insurance policies can can
06:00
cover people so our rv insurer is
06:02
already present in the entire region
06:04
they’ve got about 40 percent market
06:05
share so we hope we can scale very
06:07
quickly yeah very nice well
06:08
congratulations on the launch and i wish
06:11
you all the best
06:12
uh how do people find your website or
06:15
social media
06:16
yeah so our website is
06:18
bellaxai.com or just well x dot ai i
06:21
mean that’s the red x dot ai works as
06:22
well yeah so it’s a fairly
06:24
straightforward simple easy to remember
06:26
um you can link we’ve got all our
06:27
socials linked up on the website
06:30
love for people to go and have a look
06:32
take a spin around and see what what
06:34
we’ve got uh going on and what we have
06:36
coming as well
06:38
very nice guys thank you so much for
06:40
coming on
06:41
and we’ll see you soon thank you so much
06:44
thank you