HealthMutual Group (HMG) has joined forces with insurtech firm MediConCen to create an AI-driven claims answer for the Hong Kong market.
The collaboration combines the technological competence of MediConCen in AI, blockchain and automation, with the medical claims administration experience of HMG.
The transfer is geared toward enhancing claims processing and to ascertain a Fraud, Waste, and Abuse (FWA) detection framework that’s tailor-made to the native wants of Hong Kong.
MediConCen, based in 2018, is an insurtech firm that utilises blockchain know-how to automate insurance coverage claims.
MediConCen CEO and co-founder William Yeung stated: “This collaboration merges MediConCen’s AI-powered technological experience with HMG’s unparalleled area information in insurance coverage and healthcare.
“Collectively, we’re creating an answer that empowers claims assessors to make sooner, and constant selections—setting a brand new gold commonplace for the business.”
HealthMutual Group, since its institution in 2014, has been energetic in healthcare administration inside Hong Kong and the Larger China Area.
The corporate’s providers are designed to its numerous stakeholders, together with the insured, insurance coverage firms, and the medical sector, by enhancing healthcare administration and funding mechanisms.
HMG founder KC Chan said: “with over 11 years of expertise in medical concierge providers, HMG has developed an in-depth understanding of claims administration. Our proprietary OCR-based medical bill platform aligns completely with the digital transformation of claims processing, whereas facilitating the set-up of a FWA framework to make sure sturdy danger administration.
“Partnering with MediConCen, a frontrunner in cutting-edge InsurTech, permits us to additional our mission of supporting the sustainability of Hong Kong’s medical insurance coverage sector.”
