21st October 2020 - Shanghai, China - The CareVoice, a leading health insurtech headquartered in Shanghai, announced today that CareVoiceOS offers a ready-to-use solution in line with the regulator's expectations for insurers regarding health management services.
China’s health insurance market continues to expand rapidly, driven by economic growth and increasing demand for private healthcare. To regulate health management services bundled with insurance products, CBIRC is setting a series of measures to standardize insurers’ operations and strengthen their evaluation on those health management services.
Powering a true plug-and-play connected health insurance ecosystem, CareVoiceOS, the first healthcare operating system for insurers, enables efficiently managing and streamlining different health management service providers as well as recording policyholders’ usage and experience.
In addition, CareVoiceOS already grants access to a variety of third-party health services, including prevention-focused health services like digital health check-ups and mindfulness training service, as well as healthcare related services like AI symptom checker, smart hospital navigation and doctor booking. As we keep scouting and integrating valuable services to be part of the insurance member journey, we have the capability to quickly integrate any other third-party services which would already be contracted by insurers.
In a highly competitive market, with increased customer’s demand for health management solutions and adapted insurance coverage, insurers have to step up and propose differentiated health insurance products and services. With limited resources and technology capabilities, insurers find it more and more complicated to efficiently manage different health services provided by different suppliers and fulfill the requirements of this new regulation.
“We started to integrate third-party services within our healthcare system in order to provide a fully digitized healthcare journey as early as 2018 when we saw the value of health management for insurance products.” said Neil Liang, Co-founder & Chief Product Officer at The CareVoice. “Now with over 20 third-party services already integrated with our platform, and our ability to add new services, we can fulfill the requirements of insurers in order to comply with this regulation. We are ready to help them quickly set up the health management platform and standardize their business operations.”
By utilizing a platform to manage and deliver health management services, insurers are by nature standardizing their operations and consolidating all the users’ service usage in one place. Moreover, by leveraging CareVoiceOS to fulfill these requirements, insurance companies can also have the optionality to activate new digital services in order to further digitize and enrich their customers’ healthcare journey.
With more than 20 insurance clients in Mainland China and Hong Kong, our team and technology stack have accumulated many experiences to successfully deploy CareVoiceOS with any kind of health insurance products from supplementary health coverage, critical illness, million or private medical insurance. We look forward to continuing to support insurers and the health insurance industry to satisfy regulator’s requirements and expand fast.
*CBIRC: China Banking and Insurance Regulatory Committee
Regulation link in Chinese: http://www.cbirc.gov.cn/cn/view/pages/ItemDetail.html?docId=927766&itemId=928&generaltype=0
About The CareVoice
The CareVoice is a Shanghai-based health insurtech company dedicated to making health insurance more human. Powered by CareVoiceOS, insurers can leverage our technology platform to provide a unique member experience, from managing symptoms to booking appointments, from filing claims to health management.
In addition, we are a valuable partner to insurers in co-creating innovative insurance products. Our ability to identify untapped market segments and create products and digital experience tailored for specific customer segments allows us to help insurers drive greater differentiation and sales growth in the competitive market.
The CareVoice got awarded by multiple organizations such as TechCrunch China and The Digital Insurer, and graduated from the leading accelerators Chinaccelerator and Ping An Cloud Accelerator. Finally, CareVoice completed Series A financing and is backed by venture capitalists and entrepreneurs who are specialized in technology, financial services and healthcare.