DocDoc, a digital health insurance platform, has partnered with QBE Singapore to launch a group health insurance product in Singapore.
The product, Group Medical Prestige, will be offered to employers through partnerships with leading brokers in Singapore starting October 2022 and subsequently other markets in Asia in time to come.
QBE is a provider of specialist expertise and professional insurance service. The company has been based in Singapore since 1891.
DocDoc is on a mission to reimagine health insurance for the 21st century. The company said it is built on the fundamental belief that the world needs a better way to access, consume, and pay for healthcare.
According to QBE, Group Medical Prestige represents Asia first data driven proactive health insurance solutions. This is all the more significant in a market where incumbents tackle inefficiencies retrospectively, largely with analog systems.
Powered by DocDoc’s AI engine: the Heuristic for Outcome, Price and Experience (HOPE), Group Medical Prestige empowers members with the personalised information they need to make informed decisions across Asia’s largest and most data-rich doctor network.
Cole Sirucek, chief executive officer and co-founder of DocDoc, said, We are ecstatic to partner with QBE Singapore in advancing our collective vision of enabling a more resilient future through innovation. The health insurance market in Asia has witnessed an increasing number of exits that underpin issues centred around profitability and scale. We believe that this is driven by legacy inertia within the industry preventing innovation and the transition to a digital, member-centric approach.
?DocDoc harnesses cutting edge clinical informatics and artificial intelligence to increase the efficiency of health service management. We aim to make obsolete legacy approaches through automation and personalisation thereby reducing inefficiencies and improving member experiences.p>
Earlier this year, Spot, a startup offering on-demand injury insurance in the US, raised $33m in funding comprising $25m in equity and $8m in debt.
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