Global life and health reinsurer Reinsurance Group of America (RGA) announced the launch of Aspire, a licensed third-party administrator based in the United Arab Emirates.
Developed in collaboration with technology provider CarePay, Aspire aims to enhance how health insurers in the region manage their portfolios through a digital platform, RGA said.
According to RGA, the Aspire platform enables real-time data exchange between insurers and stakeholders while adhering to the General Data Protection Regulation (GDPR) for data security. The company also said that the platform supports greater efficiency in claims management and sustainability, which it says delivers significant value to insured members.
Simon Wainwright (pictured above), executive vice president and head of EMEA at RGA, said the platform represents a major advancement in portfolio management for health insurers in the Middle East.
“By leveraging cutting-edge technology, this platform delivers exceptional value. We are proud to introduce this innovative digital solution that will redefine medical insurance administration across the region,” Wainwright said.
Aspire is available as either a white-labeled digital platform or through licensed third-party administrator services. RGA stated that the platform is designed to help insurers improve their operational processes and foster better connections with healthcare stakeholders.
Elsewhere, RGA also recently posted third-quarter results marked by a dip in net income but achieved record performance in adjusted operating income.
The company reported net income available to shareholders of $156 million, or $2.33 per diluted share, down from $287 million, or $4.29 per diluted share, in the same period last year.
Adjusted operating income reached $242 million, or $3.62 per diluted share, compared to $372 million, or $5.57 per diluted share, year-over-year. Excluding notable items, adjusted operating income climbed to $410 million, or $6.13 per diluted share, a quarterly high.
What are your thoughts on this story? Please feel free to share your comments below.
