(7/19) Amplify your employee health insurance

Welcome to the 6th edition of the Geeks Of The Valley (GOTV) Newsletter where we share our written memo on startups that have yet to raise any funding or announce it publicly, new startup ideas from some of the most original minds in tech and VC, and also episode of the week from our own GOTV podcast!

🏢 Venture Insights

Team 👥

  • Steven Tannason: Previously Strategic Partnerships Lead (Corporate Development) @ Bytedance, Strategic Partnership Development Manager (Global Product Partnerships) @ Google.

  • Kan L.: Previously Launcher @ Finmas (P2P lending platform), Senior PM @ Traveloka, IB @ Credit Suisse, Supply Chain @ Apple.

The Sparks 

  • Huge problem to tackle

100 million people are at risk of disease in ASEAN, while 55% of all in the region are because of NCDs (ex: Parkinson's disease, autoimmune diseases, strokes and most heart diseases, to name a few). In addition to that, the cost of getting treatment is getting higher over time (10-13% increase) which will result in USD 320 billion more healthcare cost by the year 2025.

  • Increase risk in job shift by 2030

Moving forward to 2030, it’s anticipated that most of the huge addition in the job shift will involve physical activities. The growing demand for physical activities will boost the need for employee healthcare benefits among employers. In fact, when choosing between a lower-paying one but with better health benefits and a high-paying job, 88% of respondents would choose the former.

  • The ever-growing global healthcare insurance market: 

According to Grand View Research Inc., by 2027, the global demand for health insurance is projected to hit USD 4.0 trillion, growing at a CAGR of 6.7%. With the rising population and growing average life expectancy, healthcare is becoming more costly. The increased prices for treatment, particularly inpatient hospital treatment, also account for 50% of the rise in healthcare expenditure. In fact, the industry was dominated by the adult segment which accounted for the highest revenue share in 2019.

Note: This analysis was originally written in December 2020. More details can be found here.

💡 Startup Ideas

💡 Episode Of The Week

Listen here

With over 2 million followers on Linkedin, Eric Sim, CFA, is one the most followed thought leaders on career and life skills. Eric is the founder of Institute of Life whose mission is to train young professionals to be successful at work and in life.

Previously when he was based in Hong Kong, Eric served as a Managing Director at UBS Investment Bank and as an Adjunct Associate Professor of Finance at Hong Kong University of Science of Technology.

Today, he teaches at Queen’s University (Canada) and Renmin University in Beijing. A sought-after keynote speaker, Eric has spoken in London, Beijing, Bahrain and New Delhi but these days he is hosting rooms on Clubhouse app.

Thanks for reading! See you next week, geeks 👋

If you know anyone that you’d like to be featured in our podcast, feel free to send a note to geeks@geeksofthevalley.com or reach out here!