Chinese Digital Health Ecosystem
Editorial by Hugh Terry
In this month’s edition of China in Focus, in partnership with Swiss Re, we focus on China’s MedTech disruptors.
China’s dysfunctional health insurance market has moved up the government’s agenda in 2017 and InsurTechs are now springing up to offer innovative solutions to tackle chronic diseases, including diabetes and hepatitis B, in a country where such conditions are endemic. We look at some of the key players in the space receiving investment to bring benefits to both patients and insurers.
And as Swiss Re explains in a thought leadership piece, the trend across Asia for regulators to embrace digital channels for distribution, while not discounting the role of intermediaries in the sale of complex life products, is fuelling a shifting trend towards digitisation of the customer journey.
This rapid growth in insurance innovation in China is creating a hugely competitive environment for existing larger players, and we speak with Moray MacLennan, a senior consultant to Ping An Health on how the firm plans to compete with the likes of Baidu, Alibaba and Tencent, as well as Western entrants into the market.
Further in this edition we have an infographic on Ping An Good Doctor, delve deeper into employee benefits developments in the region, and round up recent relevant Chinese and global news.
As always, enjoy the newsletter.
The Digital Insurer
Babe equips brokers and insurance startups with quote generation, fulfilment and transaction capabilities.
Germany's MotionsCloud streamlines the claims process for both insurers and loss adjsuters.
Aflac, a provider of supplemental insurance in the US has deployed VUE’s distribution management suite.
Ladder is redesigning the life insurance purchasing process through an instant decision engine.