Prudential Hong Kong has introduced MedScreen+, a new digital underwriting tool developed in partnership with Reinsurance Group of America (RGA).
The launch marks Prudential as the first insurer in Hong Kong to implement this technology, aimed at streamlining the underwriting process.
MedScreen+ leverages optical character recognition (OCR) and artificial intelligence technology, integrated with RGA’s proprietary digital underwriting engine. The tool is designed to evaluate medical reports in less than half the time required by traditional methods, offering a more efficient and transparent process for underwriters.
It also supports Prudential’s financial consultants by providing quick and indicative underwriting results at the application stage.
The system can handle over 160 types of lab tests, including blood tests, ultrasounds, ECGs, CT scans, and more. This capability allows it to assess routine health check-ups and other medical requirements, delivering indicative underwriting outcomes.
By automating the processing of test results, Prudential says that underwriters can focus on more complex assessments, instead of manually reviewing extensive medical reports.
Candy Au Yeung, chief customer operations and health officer at Prudential Hong Kong, commented on the initiative.
“We recognize 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 with RGA,” she said. “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."
RGA’s senior vice president, Southeast Asia Markets & CEO of Hong Kong, Carmony Wong, also spoke about the collaboration.
“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,” Wong said.
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