Prudential Hong Kong has made a significant leap in the insurance industry by launching MedScreen+, an innovative digital underwriting tool developed in collaboration with Reinsurance Group of America, Incorporated (RGA). This launch positions Prudential as the first insurer in Hong Kong to offer such a cutting-edge solution, highlighting its commitment to leveraging technology to enhance customer experience.
Streamlined underwriting process with AI and OCR technology
MedScreen+ utilizes advanced optical character recognition (OCR) and artificial intelligence (AI) technology alongside RGA's proprietary digital underwriting engine. This innovative tool can assess medical reports in less than half the time required by traditional methods, resulting in a faster, simpler, and more transparent underwriting process. The system not only streamlines operations for underwriters but also supports financial consultants in providing instant and indicative underwriting results to customers during the application process, creating a smoother onboarding experience.
Efficient processing of over 160 lab tests
The platform can process over 160 lab tests, including blood tests, ultrasounds, and ECGs, allowing for efficient assessment of routine health check-ups and medical requirements. By automating the processing of test results, MedScreen+ frees underwriters to focus on more complex evaluations rather than manually sifting through extensive medical reports.
Commitment to customer-centric solutions
Candy Au Yeung, Chief Customer Operations and Health Officer at Prudential Hong Kong, emphasized the tool’s importance in delivering swift protection to customers. She stated, "This innovative solution streamlines our underwriting process, showcasing our commitment to being a forward-thinking, customer-centric company."
Collaboration for a more efficient insurance landscape
Carmony Wong, Senior Vice President and CEO of RGA's Hong Kong market, expressed excitement about the partnership, stating that MedScreen+ is paving the way for a more efficient insurance landscape in Hong Kong, centered around customer needs. With MedScreen+, Prudential is poised to transform the insurance experience for its clients.
