Prudential launches first-in-market insurtech solutions MedScreen+ with Reinsurance Group of America
HONG KONG, Oct. 25, 2024 /PRNewswire/ -- Prudential Hong Kong Limited ("Prudential") is proud to be the first insurer in Hong Kong to launch MedScreen+, an innovative digital underwriting tool developed in collaboration with Reinsurance Group of America, Incorporated ("RGA"), a leading global life and health reinsurer. The launch of MedScreen+ exemplifies Prudential's commitment to leverage technology and innovation in our distribution channels to provide our customers with superior underwriting.
By leveraging optical character recognition ("OCR") and AI technology, coupled with RGA's proprietary digital underwriting engine, MedScreen+ can assess medical reports in less than half the time needed when using traditional methods, providing a fast, simple, and transparent underwriting process for underwriters, while supporting our financial consultants in providing instant and indicative underwriting results to customers at the application stage for a better, more seamless onboarding journey.
MedScreen+ is capable of processing over 160 lab tests, including blood tests, ultrasounds, urine tests, ECG, CXR, CT chest and other tests, to assess a variety of routine health check-ups and medical requirements and provide indicative underwriting outcomes, making the underwriting process more efficient and consistent. By automatically processing results from check-up findings, underwriters are able to focus on more complex assessment and synthesising information, rather than sifting through pages of medical test results.
Candy Au Yeung, Chief Customer Operations and Health Officer at Prudential Hong Kong Limited, said: "We recognise the importance of providing swift protection for our customers. In response to this critical need, we introduced this innovative solution to streamline our underwriting process, in partnership of RGA. This initiative underscores our commitment to being a forward-thinking, customer-centric company, dedicated to delivering efficient solutions that meet the evolving needs of our customers."
Carmony Wong, Senior Vice President, Southeast Asia Markets & Chief Executive Officer, Hong Kong at Reinsurance Group of America, Incorporated, said: "I am thrilled to announce our partnership with Prudential to launch MedScreen+, an innovative first-in-market solution that empowers insurance companies to enhance their underwriting journey. This collaboration underscores our shared commitment to customer excellence and our dedication to digitally enabling the customer experience. Together, we are paving the way for a more efficient insurance landscape in Hong Kong that is oriented around customer needs."
About Prudential Hong Kong Limited
Prudential has been serving the people of Hong Kong since 1964. Through Prudential Hong Kong Limited and Prudential General Insurance Hong Kong Limited, we provide a range of financial planning services and products including individual life insurance, investment-linked insurance, retirement solutions, health and medical protection, general insurance, and employee benefits to protect over 1.3 million customers in Hong Kong. In 2023, Prudential established its Macau branch to offer health insurance and financial solutions for the Macau community, completing its footprint in the Greater Bay Area. Please visit www.prudential.com.hk for more information.
SOURCE Prudential Hong Kong Limited
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