Diego Gómez -Palacio Borboa – GC Powerlist
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Mexico 2023

Healthcare

Diego Gómez -Palacio Borboa

Legal and business development director | Bupa México

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Mexico 2023

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Diego Gómez -Palacio Borboa

Legal and business development director | Bupa México

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?

We recently acquired a license for a legal tech service which not only keeps the team up to speed with the regulatory changes but also includes an AI tool which assists the team with suggestions and ideas when drafting contracts and legal opinions. This solution came at a reasonable expense without the need of requesting additional budget and is changing the way we work and interact. This allows our lawyers to improve their legal documents while keeping control and full responsibility of the content and scope of such documents. AI as a complement and not as a substitute of the legal work is our approach.

What are some of the main trends impacting the industry sector you work in in Mexico?

The health industry and more specifically the health insurance industry in Mexico are being impacted by several changes driven mostly by digitalisation. Increasingly, our customers expect digital solutions for everyday issues. This is why we are working hand in hand with our IT, customer, and operations teams to find compliant and innovative solutions for digital insurance underwriting, telehealth services, connected health services, end to end digital insurance and other projects we believe will improve our customers lives.

In addition, the changing regulatory landscape is an important challenge for legal teams. As the world changes, regulations try to keep up and therefore we must keep comprehensive scanning on the horizon for new regulations and ensure the business adapts accordingly. Just in the past 24 months, we have implemented significant labour regulation changes as well as new insurance regulations while entering the health provision business with the acquisition of our first hospital, thus placing the business under the scope of new regulators and legal provisions.

What is a cause, business-related or otherwise, you are passionate about, and why?

I am passionate about improving and transforming the healthcare industry in Mexico. I have witnessed many of the barriers people face to access quality healthcare in the country such as cost, availability and adaptability and I honestly believe there is a lot to do to overcome such barriers. However, there are people and businesses taking steps in the right direction, including Bupa. With the acquisition of our first hospital in Mexico City, for example, we are building an option for people who want to receive high quality care at a reasonable cost and including digital capabilities to allow patients to experience flexible and patient oriented and healthcare services. I am optimistic about the future since there are a lot of innovative ideas and initiatives challenging the status quo of the healthcare industry, which will benefit the patient.

What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?

Bupa has set a goal to become a net zero business by 2040. Therefore, my team and I must contribute not only by finding practices to reduce waste and our business carbon footprint (e.g., 90% of our contracts and 100% of corporate governance processes are now paperless) but also lead the business in ensuring our providers and partners have sustainability policies and practices in place which will allow us to reach our goal. Also, all our M&A projects include due diligence on ESG with a special focus on contribution to footprint.

On top of this, Bupa has a global innovation program called “Eco Disruptive” which seeks to accelerate our sustainability target. Thru Eco Disruptive Bupa employees and start-ups come together to tackle sustainability challenges within our business. As general counsel, I always encourage my team to enrol and actively participate in Eco Disruptive, since it provides a unique opportunity to find and suggest fresh solutions to our businesses and the healthcare industry challenges.

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