Revolutionizing mental health with tech

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For a long time, the discussion of mental health and mental illness was swept under the rug, only to surface in hushed conversations with many stigmas attached. In recent years, the picture has changed slightly. From celebrities coming out to speak out about their mental health struggles to influencers sparking conversation on social media, we see Indians trying to encourage and normalize discussions around mental health.

However, the reality is not as rosy as it seems in these discussions. A large part of the population still has unfounded beliefs about mental illness. From believing that these do not exist to thinking that they only affect the ‘weak’, people continue to have strong prejudices. Even in family and social settings where mental illnesses are recognized as problems in good faith, there is a taboo around seeking treatment. And a large portion of people believe that seeking professional help, even if it is available, is not really necessary.

When we look at the data on mental illness in India, such beliefs seem unwarranted. According to the latest National Mental Health Survey conducted by the Ministry of Health and Family Welfare, approximately 150 million people in India are in need of mental health care and treatment. It was estimated that about 381 Indians committed suicide every day in 2019. In the same year, a WHO report estimated that 7.5% of Indians suffered from some mental illness at the time. The report also predicted that the proportion would rise to 20% in the next few years!

So what explains the inertia toward seeking out mental health professionals? Perhaps it is due to the fact that there are simply not enough mental health services in India to begin with! In 2019, it was estimated that there are around 0.75 psychiatrists for every 1 lakh people in India. In addition to this, public spending on mental health is also not enough. Of the total health budget (1-1.5% of GDP), less than 1% is often spent on mental health care.

Does this then mean that the foreseeable future is as bleak as the present? Not if we look at the increased use of technology to address mental health challenges. You must have heard about apps offering professional consultations, meditations and wellness services that are emerging in the market. And while it is more common in the West, in India too there is a clear demand and space not only for good mental health services, but for more affordable services as well. In fact, the AIIMS itself launched two mental health apps in September 2021.

This is exactly where new-age InsurTech startups come in, bringing a digital-first approach to health coverage by using technology to assess potential health risks to their clients faster and more accurately. . Not only that, they also allow users to cover their medical costs with easy-to-use, hassle-free digital interfaces and without the paperwork often associated with traditional insurance companies.

The benefit when it comes to mental health is that InsurTech companies have the potential to be much more inclusive when it comes to mental illness. The possibilities are truly endless. By providing general health plans that include coverage for mental health treatment, and thus recognizing the scale of the problem, InsurTech startups are also helping to remove the stigma and prejudice associated with such treatment. In the future, this may translate to plans designed specifically for mental health and related expenses.

Affordability is another key area where these startups are showing encouraging signs. In 2015-2016, around 15% of Indian adults were estimated to be in need of mental health intervention. And the average spending requirement for mental health care was set at INR 1,000-1,500 per month. More than 5 years have passed since then and these numbers have only skyrocketed, thanks in particular to the COVID pandemic. With such astronomical costs, most people tend to avoid seeking professional help for mental health problems, even if they need it. But with the rapid growth of InsurTech, opportunities for quality-based mental health treatment with good financing solutions are expected to increase. This, in turn, will encourage more people to get out there and seek help.

And then there is accessibility. After all, what good is a cheap price if you don’t have access to a good doctor? By linking up with a strong network of counselors, doctors, and hospitals, InsurTech startups can use technology to fill healthcare gaps in our system. The promotion of teleconsultation in this area will be especially useful since face-to-face physical consultations may not always be necessary for mental health treatments. This can help people search for psychiatrists and counselors from remote and far away areas.

This just goes to show how important InsurTech can be, not only in helping to de-stigmatize mental illness, but also in helping to make mental health care more accessible. Coupled with the ongoing conversations on social media and in the mainstream media, this could definitely mean a leap towards better mental health care for everyone in the country.

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