Victor Navarro, president of Global Excel Latin America, participated this Thursday, 07/23, in the second meeting of a total of six of the CQCS Innovation Latam. On the occasion, Navarro introduced his company and pointed out that it is 100% private with almost 1000 employees that processes almost 2 trillion dollars. “We have more than 400 insurance companies that work with us,” he shared.
In this pandemic moment, Navarro warned that it is necessary to reflect and look at how we can prepare for the future.
Excel is among the payer, customer and provider, and that at the beginning of Covid, there was a concern that some insurance companies would not offer coverage since it was classified as a pandemic. “We saw this as breaking the company’s trust with the customer and I see that it was the opposite of what happened. The companies presented themselves for the battle ”, he highlighted.
Another point raised by him was the issue of providers. “In addition to providing the necessary service, they have to seek income. We are happy that the client is benefiting from the elimination of barriers to access the health service, ”he said.
He also recalled that at that moment, people do not want to go to the hospital. “They see the hospital as the place where you go to die and, therefore, they are privileging telemedicine. We are still not sure of the impact of reducing elective procedures ”.
Navarro also said the issue of telemedicine was complex for Global as the company did not want to deal with different providers in different countries in Latin America. “There was no solution for that. Suddenly a few weeks, several customers are looking for telemedicine. Our customers did not want to deal with a different provider ”, he revealed. He also recalled that there were differences in laws and regulatory environments, but that now, given the need, most countries authorize it. “Many more people have access to mental health because of telemedicine,” he added.
The executive stressed that telemedicine is not a substitute for going to the hospital, but stressed that a good part of the issues that Global managed physically became digitally managed. “When a company wanted to sell a policy it had a physical space, today we do the remote work and the person does not have to leave the house. Even when countries open again, we shouldn’t have to go back to big offices. We should have a new perception that health care will change ”, he said.
He also pointed out that in the short term the claims flow should not change, but should increase in the medium term. “The difference between having and not having health insurance in Latin America is very significant”. According to him, people who have health insurance have 2 more chances to survive than those who do not have health insurance.
Navarro said he is concerned about medical inflation in Latin America, which is 12% per year while in the United States, the index is between 6% and 7%. “Many providers are failing to profit as before and are even losing money,” he warned. For him, there must be a profound impact in the medium term.
For the executive, it is necessary to have an optimistic outlook for the future. “We need to align the value with new business solutions”.
He stressed that health insurance companies in Latin America need to work more on health care and not disease care. “You have to have a holistic perspective on your client. Health care. If he’s eating right. Doing exercises ”, he exemplified.
Navarro also said that before everything was centered on the doctor and with telemedicine there is a change. “I stay at home, I get the prescription at home, I access the link at the time I choose,” he said.
For him, companies need to ensure that people are and remain healthy. “We have to provide well-being”, he concluded.