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 aimed 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 mentioned: “This collaboration merges MediConCen’s AI-powered technological experience with HMG’s unparalleled area data in insurance coverage and healthcare.
“Collectively, we’re creating an answer that empowers claims assessors to make quicker, and constant selections—setting a brand new gold normal for the business.”
HealthMutual Group, since its institution in 2014, has been lively in healthcare administration inside Hong Kong and the Better China Area.
The corporate’s companies 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 companies, 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 strong threat 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.”
