Digital healthcare is transforming the way patients are treated and medical conditions are managed, – from artificial intelligence to remote patient monitoring and interactive telemedicine services.
Companies operating in the MedTech or HealthTech space have to deal with the complexities of both the healthcare and technology sectors – and can therefore face a wide range of emerging and traditional risks and exposures.
You’re an expert in your field – we’re experts when it comes to insurance and risk management for the science and technology sector.
Who we support
Telemedicine platforms and providers
MedTech companies
mHealth apps
Remote patient monitoring tools including implantable devices
AI healthcare
ePharmacies
eHealth research involving data collection and analysis
Lifestyle and wellness businesses
We are specialists in medical device insurance...
Challenges in your industry
Running a business in the complex world of digital healthcare isn’t easy. Risks can range from the failure of a healthcare device or app that leads to bodily injury to hackers and cybercriminals who may look to manipulate apps and AI systems and many others too. And attracting and retaining highly skilled talent in this competitive sector is vital to success too.
How we support
There are few off-the-shelf insurance products for science and technology-based businesses, so getting specialist advice and the right cover for your specific needs is essential.
We work with cutting-edge innovators across e-health, telemedicine, next-generation health apps, remote patient monitoring tools (for care homes and domestic settings), artificial intelligence, ePharmacies and bespoke medical records software.
Your business performs
Having confidence that your business and the people that make it unique are protected should things go wrong gives you the peace of mind to do what you do best – driving digital healthcare solutions forward.
Why do you need specialist insurance for your digital healthcare business?
Digital healthcare and MedTech businesses bridge both the healthcare and technology sectors, so they are open to a wide range of emerging and traditional risks.
Some insurance covers are compulsory by law – such as employers’ liability if you employee at least one person as well as other liability covers that can form part of a “standard” insurance package.
However, there are those that are specific to companies operating in the digital healthcare arena and are unlikely to be covered by a traditional business insurance policy.
Digital healthcare insurance can bring together traditional liability protection alongside the unique cover needed by companies operating in this sector.
Our expert science & technology team can help you protect your business with smart, flexible, high-performance insurance – with a friendly human approach. We understand the risks and pressures you face and we’ll support you with great advice, helping you make the right decisions for your business.
We’ll act as your advocate – negotiating terms, cover and claims with our panel of specialist underwriters.
What does digital healthcare insurance cover?
We can arrange cover to meet the unique needs of your business and the challenges you face, including:
Healthcare providers are facing new threats to their patients as technology advancements continue to play a more crucial role in how healthcare is delivered, monitored and addressed. In addition to coverage for bodily injury arising out of any negligent act, cover can also provide affirmative coverage for bodily injury arising from cyber events and system outages.
The employee classification has become a subject of debate. To eliminate confusion, some policies (although not all) now allow for the definition of ‘employee’ to automatically extend to physicians or medical practitioners offering services on your behalf.
The supply, development, installation and maintenance of technology has become a pivotal component in the transformation of healthcare delivery. Digital healthcare insurance can provide a separate section for technology E&O as well as breach of contract.
Wearable technology is playing a prominent role in today’s healthcare, particularly in the delivery model which brings care to the patient wherever they are. Cover can be provided for financial loss for any tangible property that has been manufactured, altered, distributed or installed by your company, including wearables and self-monitoring healthcare devices.
The cyber and privacy cover has been tailored to address digital healthcare companies’ specific cyber exposures. Not only is there a separate section for extortion to address the growing threat of ransomware, cover also includes the cost of fines and penalties, as well as initial response services.
Meet the digital healthcare team
Hanna Beaumont
Science & Technology National Practice Lead
