AI-powered application launches to help millions in pain
by Startacus Admin
TrackActive, a London-based healthcare & InsurTech company, launches its AI-powered 'physio in your pocket' app that aims to change the way people seek help for pain in their joints, necks and backs.
Of all health conditions in the UK, musculoskeletal conditions are the leading cause of people living for years with disability. It also has strong links to mental health – people in persistent pain are four times more likely to suffer from depression than the general population.
Step forward, TrackActive's product, TrackActive Me, which uses a chatbot and artificial intelligence to diagnose problems and deliver personalised exercise programs - taking users on the journey to recovery, combining clinical intelligence and proven treatment methods in one application.
Ian Prangley, Health Director of TrackActive, is an experienced international physiotherapist and strength and conditioning coach. Ian and his technology co-founder, Michael Levens, have self-funded the company, which has meant needing to work around the clock for over five years to build this business while maintaining their day jobs. For Ian, this has been as a specialist physiotherapist at a Harley Street clinic and as British number one tennis player Kyle Edmund’s physiotherapist and physical performance coach.
Unfortunately for many sufferers, ongoing treatment from a health professional is often cost-prohibitive for insurers and the NHS. Low back pain alone costs the UK economy £10 billion per year in healthcare costs, absence from work, lost productivity and informal care. Providing people with the means to self-manage their own recovery is key to reducing these losses. TrackActive Me is the tool to fulfill this need, as noted by prominent players in the health and insurance industries.
In 2017, TrackActive established a collaboration partnership with General Reinsurance Group, the largest health and life reinsurer worldwide.
Ross Campbell, their chief underwriter, explained why:
"The application can provide policyholders with ways to avoid injury or to regain their health and fitness if that happens. With musculoskeletal problems being an important cause of lost work time and disability claims, TrackActive is a clever use of new AI technology."
"Gen Re is collaborating with TrackActive to help them reach the right people and to have some real impact into markets on an international basis."
Last year, TrackActive won The Digital Insurer Europe Startup InsurTech award, demonstrating their potential in the insurance industry.
Digital & tech innovation in the healthcare industry continues to impress. Recently we featured the Virti simulation platform, that puts users in a range of realistic simulations designed by healthcare professionals and last year, Zurich-based Ava, makers of the first fertility tracking sensor bracelet, closed a fab $30m Series B funding round.
And talking of funding, TrackActive has just received their first investment backing from HR Tech Partnership, a group of FTSE 100 HR executives who recognise the extent of these problems amongst employees, and the cumulative effects they have on their physical and mental health. With the backing of HR Tech Partnership, TrackActive is now raising additional funds on leading European equity crowdfunding platform Seedrs.
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Published on: 27th February 2019
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