DavidShield is far more than “on par” with current industry standards, leading the way in smart healthcare insurance technology and innovation. With the offering of the DavidShield App, they bring unprecedented convenience to individuals, corporate employees and brokers navigating international healthcare. It is a truly first-of-its-kind app-based solution that works in tandem with the DavidCard, which is linked to a Visa or MasterCard infrastructure, allowing pre-paid services of almost all medical claims in real time with zero bureaucracy.
By leveraging their technological leadership, DavidShield intends to revolutionize the industry by marketing their technological tools, products and services to other health insurance players, using an “Intel inside” approach.
The DavidCard and DavidShield App is a win-win combination because their members receive prepaid medical funds within one minute and are given full autonomy in making informed decisions about their healthcare. The app’s integration of a social rating system for doctors sets precedent in their field by providing members with real-time knowledge to assist in their selection of the best medical providers available.
In 2014, DavidShield revolutionized the market with DavidCard – a personal magnetic card allowing for a prepaid cashless solution for covering medical expenses. This breakthrough technology was recognized at the FEM APAC 2014 Summit, when they won the EMMA Award for technological innovation.
In 2016, DavidShield released the DavidShield App that allows with a click of a button to receive prepaid medical funds to be delivered directly to the DavidCard within a minute. After submitting the simple service request form on the app, all that is needed is to swipe the card at the doctor’s office or withdraw funds from the nearest ATM.
As the only health insurance application in the world to prepay medical funds and within a minute, the DavidShield App is of great significance in today’s on-the-go society. This innovation granted them with an additional EMMA award in 2016.
Ilan Gat, “Reason behind the Success of DavidShield”
Ilan Gat, CEO of DavidShield, is a 20-year veteran of the insurance industry with 15 years of targeted experience in international health insurance. Prior to joining DavidShield as Chief Marketing Officer in 2002, Ilan held senior sales and marketing positions at AIG. In 2009, Ilan relocated to Beijing with his family to establish the DavidShield Chinese subsidiary in cooperation with PICC, the largest insurance company in China. Upon returning to Israel in 2011, he was appointed as CEO of DavidShield. Under his leadership, DavidShield has won awards for technological innovation in several worldwide competitions.
While talking about the company, Ilan says, “Our key values surround member service and member journey, and how to make the user experience as simple and friendly as possible. The health insurance industry is known to be bureaucratic and challenging to navigate. The claim reimbursement process is cumbersome, time-consuming and full of paperwork. Even when all claims are filed correctly and approved, it can take weeks or even months for policy holders to be reimbursed. We aim at eliminating logistical hassle and covering claims instantly, even before medical services are rendered. We have a saying at DavidShield that serves as our “north star”:”if it won’t be simple, it simply won’t be.”
The DavidShield App, Best of All
The recently released DavidShield App, used in conjunction with the DavidCard, provides members with a unique platform for obtaining a wide range of medical services, such as receiving prepaid funds for medical needs. The technology eliminates the need for PPO/network arrangements, claims for reimbursements, multiple receipts and all the other inconveniences associated with current global healthcare delivery systems. It is a cashless and borderless solution used for accessing medical services in more than 100 countries worldwide. DavidShield is essentially eliminating bureaucracy through innovative technology.
Ilan asserts, “We expect our DavidCard and DavidShield App technologies to have a long-term impact on the health insurance market. The DNA of our team is geared towards growth, specifically by Increasing member satisfaction, which is continually monitored and evaluated through surveys, Making use of Big Data and analytical tools to help our customers make more informed decisions, Reducing operational expenses, as a result of the app’s inherent self-service solution allowing for the distribution of prepaid funds, uploading of documentation, verification of coverage and viewing of claim status reports, Assessing risk management and providing clear and detailed projection reports.”
In addition, the app’s ability to allow members to rank and review medical providers and to use Big Data and analytics tools to produce a ranking-based search engine, UCR amounts and service optimization, also set a precedent in their field.
There are some points which set DavidShield ahead in the race:
- Speed: Prepaid funds for medical expenses are received in less than a minute.
- User friendliness: The online request form consists of only four fields.
- Hassle-free experience: Tedious request forms, the need to phone an agent, lengthy approval times and reams of paperwork are eliminated.
- Full autonomy: Members are free to request funds and services anywhere, any time.
- Accessibility: As long as there is access to the Internet, prepaid medical funds can be received within one minute.
- Online services: With the app, members can locate medical providers, score and review rankings of medical providers, view claims centers, upload documents and receipts, verify coverage and update personal information.
- Accuracy: They know the exact cost of each medical service in more than 100 countries worldwide based on the healthcare industry’s usual, customary and reasonable (UCR) standard.
Eyes towards the Future
While envisioning the glorious future of DavidShield, Ilan says, “We envision a day when the name “DavidShield” will become synonymous with health insurance automation.”