Prudential Hong Kong, a leading life insurance provider in Hong Kong, has launched MedScreen+, a digital underwriting tool designed in partnership with Reinsurance Group of America.
The MedScreen+ platform is a major leap forward for Prudential Hong Kong as it leverages cutting-edge technology to accelerate the underwriting process, addressing the need for faster, more efficient decision-making, according to InsurTech Insights.
By deploying optical character recognition (OCR) and artificial intelligence (AI), the tool can significantly reduce the time spent analysing medical reports, ultimately enhancing the customer experience.
MedScreen+ utilises advanced OCR and AI technology to automate complex processes in medical underwriting.
The platform can handle more than 160 types of laboratory tests, including blood tests, ultrasounds, and X-rays, and it provides underwriters with quick, reliable access to results.
This capability not only enhances the efficiency of underwriting but also improves the accuracy and consistency of decision-making, allowing underwriters to focus on complex assessments while the platform manages basic data entry.
Customers also benefit from MedScreen+ through instant and indicative underwriting outcomes available at the application stage. By removing manual steps, the tool aims to enhance the speed and overall quality of underwriting, supporting Prudential Hong Kong’s goal to offer more responsive insurance solutions to their clients.
Candy Au Yeung, chief customer operations and health officer at Prudential Hong Kong Limited, highlighted the company’s drive to innovate. She 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 & CEO, Hong Kong at RGA, shared her enthusiasm for the partnership. “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.” She added, “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.”
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