AXA Health and TCV launch medical and health insurance app in China
AXA Tianping Property & Casualty Insurance Company Limited (AXA Health) and Shanghai–based mobile health startup, The CareVoice (TCV), have launched their first medical and health insurance experience app for high-end medical insurance customers in China, which allows them to understand their insurance benefits, treatment and claims process. Members can also use the app to check comments from other members about hospitals and doctors, and make appointments to network hospitals directly.
Mr Jack Yuan, CEO of Health Business Unit, AXA Health, commented that this first medical and health insurance experience app kick starts their transformation efforts for AXA Health’s Digitalization Initiatives. He also said: “In the area of Health insurance, our vision is to become the health partner of our customers. This is a start to us building a holistic ecosystem for high-end medical insurance both online and offline.”
New Chubb methodology combines art, science and history
A new advisory from Chubb has introduced Cyber COPE™, a new model for underwriting cyber insurance that is intended to simplify and improve the assessment of both cyber and privacy risks. The advisory outlines how the COPE methodology, used effectively by property underwriters for nearly 300 years, can be modified to measure cyber risk.
Cyber COPE™ stands for components, organisation, protection, and exposures, and relies on the use of simple questions to provide objective and subjective measurements to help customers and brokers better assess risk, including business interruption-related losses. It also fosters information sharing, so that the industry is better equipped to identify future cyber and privacy weaknesses in advance.
Mr Russ Cohen, Director of Cyber/Privacy Services at Chubb, who authored Cyber COPE™: Transforming Cyber Underwriting, said: “The new model has been designed to be simple to use and to provide the right balance of objectivity and subjectivity for the underwriter.
More so, it provides a path forward for the cyber insurance industry to begin to break down the historic barriers common with information sharing. By sharing information and developing a common foundation in which to underwrite constantly evolving cyber risks, the industry will be better equipped to provide the proper coverage and solutions to protect organizations from cyber-related exposures.
OCARE launches India’s first dental insurance product
OCARE, India’s first independent Insurance Process as a Service (IPAAS) platform, launched the first dental insurance product in the country. It is a group insurance product, and offers an assured sum of INR25,000 (US$367).
Dr Neeraj Sheth, founder & CEO said that this is the first time Dental Insurance is being offered as an exclusive product in India. Usually it is bundled together with health insurance and is available under the general health insurance plan, where dental ailments are not covered exclusively. With the launch of this product, OCARE hopes to transform the Indian oral healthcare ecosystem by making dental treatments accessible, affordable and achievable for every Indian citizen.
Ocare is India’s only, independent Insurance Process as a Service (IPAAS) platform and covers a complete range of dental health services that include dental insurance, dentistry networks and oral health education in India.
Ironshore International bolsters Mandarin capability for global M&A
Ironshore International has enhanced the language capabilities of its Mergers & Acquisitions unit with insurance documents and services offered in Mandarin.
Ironshore developed a suite of marketing materials and policy forms produced in Mandarin to assist Chinese companies in understanding the value of insurance coverage for in-country and cross-border M&A transactions. Dual language professional proficiency in English and Mandarin is available within Ironshore International’s M&A team of underwriters located in London and throughout the Pacific region, including Shanghai, Hong Kong and Singapore.