SWEDEN - The communications group Ericsson and Sweden's biggest insurer Skandia are launching a new company specialising in security, safety and health, called Alleato.

The company’s aim is to enable people to continue live at home, by using technology to reduce problems. Skandia believes that this approach could form part of its pension product provision.

“It’s a bit early to say how the product will be implemented into pension plans; at first it will be integrated into a healthcare product. So that hospitals and other health service providers can offer the client a product with aspects like medical home monitoring and support,” says Jan Wangärd, the appointed chairman of Alleato.

“In the long run, security is not just about gathering assets. With new technology you can avoid going to a nursing home and stay in your own home for longer. When you have services attached to the savings product, you can get an increase in value.”

Alleato uses a technology, which is based on standardised and open platforms, meaning that customers do not need to commit themselves to one single supplier. A partner programme concept is being implemented within Alleato, in order to support entrepreneurs to develop innovative services.

“Skandia’s strategy has been in asset gathering and savings products, but in the end we believe we have to enhance the service component that goes along with the savings product,” says Wangärd.

Ericsson will operate as the supplier and integrator for the system, Skandia will create new forms of financing products for benefit plans and Huddinge University Hospital will provide the knowledge and environment for Alleato’s health care solutions. The company will be owned equally by Ericsson and Skandia, with Huddinge University Hospital holding a minority share in it.

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