Latest news with #claimsprocessing
Yahoo
22-07-2025
- Business
- Yahoo
AdvanceCare Slashes Claims Processing Times to 60 Seconds Using Sprout.ai's AI Technology
LONDON, July 22, 2025 /PRNewswire/ -- AdvanceCare has cut health insurance claims processing time to just 60 seconds for some claims settlement cases, thanks to a strategic rollout of artificial intelligence technology. As health insurance claims management continues to grow in complexity, AdvanceCare is using AI to streamline and automate its processes and free up team resources to focus on the most complex cases. The milestone comes after the health insurer TPA (Third-Party Administrator) processed over a million claims in the past year using patented AI platform. AdvanceCare was already operating its claims process with automation, but the integration of technology has strengthened its capabilities further, contributing to over a 10% increase in automation levels. These advancements span AdvanceCare's different types of claims including hospital, dental, and pharmacy. With 1.7 million members in Portugal the improvements are already delivering faster, more accurate claim outcomes for a significant portion of the population. This also comes at a time when healthcare leaders are reporting that the time it takes for claims reimbursement is increasing, with 62% recognising this as a growing challenge, up from 51% in 2022. platform allows insurers to make faster, more accurate claims decisions by reducing manual data entry and ensuring claims handlers have all the relevant insights at their fingertips. AdvanceCare benefits from utilising platform, which combines advanced artificial intelligence with patented optical character recognition (OCR) technology to instantly extract, structure, and analyse information from claims invoices. Roi Amir, CEO of said: "When it comes to health insurance, speed and accuracy are paramount. This collaboration proves that AI doesn't just improve efficiency — it enhances the customer experience at scale. AdvanceCare has shown what's possible when innovation is embraced across an entire claims ecosystem." The increased accuracy has led to cost and productivity gains, supporting AdvanceCare's mission to strengthen healthcare inclusion and digital transformation in the insurance sector. Liliana Silva, Operations Director at AdvanceCare, added: "Our customers highly value the digital reimbursement solution that we provide through our app and web portal. Focusing on efficiency also means focusing on time resolution and the quality of service we provide to our customers. This is why we see AI as a useful tool and look for solutions that contribute to this, such as Since partnering in 2022, growing footprint within AdvanceCare highlights the accelerating demand in the European insurtech market for solutions that combine intelligent automation with enhanced service quality — empowering experienced claims handlers to dedicate more time to complex cases and those requiring a human touch. Logo: Notes to editors For more information on or to request interview time with CEO, Roi Amir, please contact sproutai@ View original content to download multimedia:
Yahoo
14-07-2025
- Business
- Yahoo
HealthMutual, MediConCen partner to develop AI
HealthMutual Group (HMG) has joined forces with insurtech company MediConCen to create an AI-driven claims solution for the Hong Kong market. The collaboration combines the technological competence of MediConCen in AI, blockchain and automation, with the medical claims management expertise of HMG. The move is aimed at enhancing claims processing and to establish a Fraud, Waste, and Abuse (FWA) detection framework that is tailored to the local needs of Hong Kong. MediConCen, founded in 2018, is an insurtech company that utilises blockchain technology to automate insurance claims. MediConCen CEO and co-founder William Yeung said: "This collaboration merges MediConCen's AI-powered technological expertise with HMG's unparalleled domain knowledge in insurance and healthcare. 'Together, we are creating a solution that empowers claims assessors to make faster, and consistent decisions—setting a new gold standard for the industry." HealthMutual Group, since its establishment in 2014, has been active in healthcare management within Hong Kong and the Greater China Region. The company's services are designed to its various stakeholders, including the insured, insurance companies, and the medical sector, by improving healthcare management and funding mechanisms. HMG founder KC Chan stated: "with over 11 years of experience in medical concierge services, HMG has developed an in-depth understanding of claims management. Our proprietary OCR-based medical invoice platform aligns perfectly with the digital transformation of claims processing, while facilitating the set-up of a FWA framework to ensure robust risk management. 'Partnering with MediConCen, a leader in cutting-edge InsurTech, allows us to further our mission of supporting the sustainability of Hong Kong's medical insurance sector." "HealthMutual, MediConCen partner to develop AI " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
14-07-2025
- Business
- Zawya
HMG Partners with MediConCen to spearhead Medical Claims Digitalization in Hong Kong
HONG KONG SAR - Media OutReach Newswire - 14 July 2025 - HealthMutual Group (HMG), a pioneer in medical concierge and insurance management, and MediConCen Limited, an InsurTech innovator, today announced a strategic partnership to develop an advanced AI-driven claims solution tailored for the Hong Kong market. By combining MediConCen's expertise in AI, blockchain, and automation with HMG's solid experience in medical claims management, the collaboration aims to streamline claims processing, enhance efficiency, and establish a localized Fraud, Waste, and Abuse (FWA) detection framework. Mr. KC Chan, Founder of HMG, said, "with over 11 years of experience in medical concierge services, HMG has developed an in-depth understanding of claims management. Our proprietary OCR-based medical invoice platform aligns perfectly with the digital transformation of claims processing, while facilitating the set-up of a FWA framework to ensure robust risk management. Partnering with MediConCen, a leader in cutting-edge InsurTech, allows us to further our mission of supporting the sustainability of Hong Kong's medical insurance sector." Mr. William Yeung, CEO and Co-Founder of MediConCen, said "this collaboration merges MediConCen's AI-powered technological expertise with HMG's unparalleled domain knowledge in insurance and healthcare. Together, we are creating a solution that empowers claims assessors to make faster, and consistent decisions—setting a new gold standard for the industry." The partnership underscores the importance of combining insurance practicality with technology to deliver digitalisation for insurance process. Hashtag: #HMG #MedConCen # # #MedicalClaims #Digitalization #AI #MedicalInsuranceSector #OCR The issuer is solely responsible for the content of this announcement. About HMG Established in 2014, HealthMutual Group has swiftly emerged as a premier leader in healthcare management across Hong Kong and the Greater China Region. Passionately dedicated to transforming healthcare management and its funding mechanism through provision of medical concierge and other essential value-added service, it benefits all stakeholders: the insured, insurance companies, and the medical sector, fostering their sustainable growth and development. About MedConCen MediConCen is a leading insurTech founded in 2018. Awarded in numerous local and international competitions, MediConCen is the first Hong Kong company utilizing blockchain and cutting-edge technology to automate insurance claim and evolve the insurance claim experience. HealthMutual Group
Zawya
19-05-2025
- Automotive
- Zawya
Policybazaar.ae rolls out exclusive car insurance perks under PB advantage
UAE – the UAE's leading online insurance marketplace, has expanded its flagship initiative PB Advantage to car insurance customers, redefining the way UAE residents experience motor coverage and car insurance claims. believes that car insurance should be more than just a policy — it should be a promise of speed, ease, and trust when you need it most. We are transforming the claims experience in the UAE by offering a one-of-a-kind, seamless, and customer-first approach that gets you back on the road with minimal hassle. From free car washes and flat-rate savings on servicing and repairs to special discounts on the Registration Readiness Package, these benefits are designed to enhance the everyday car ownership experience. Valid until May 31, these exclusive offers are made possible through their partnerships with leading insurers and service providers across the UAE that will deliver real-world value to our customers. In collaboration with leading partners, is redefining traditional insurance by enabling a smarter and more rewarding car ownership experience. The initiative is designed to help customers lower their car-related expenses and remain well-protected with some of the best car insurance plans available in the UAE, while ensuring a high standard of customer satisfaction and full compliance with regulatory requirements. With customers can benefit from fast-track claims processing, access to a nationwide garage network, a dedicated claims concierge service, and smart digital tracking with priority repairs. Through PB Advantage, customers can now enjoy 12 free car washes, up to a 30% discount for safe driving, an excess waiver of up to AED 1,000, a 15% discount on car repairs, a 30% discount on car servicing, and 50% off on the Registration Readiness Package. Neeraj Gupta, CEO of said: 'We're proud to expand PB Advantage to our car insurance customers. Buying car insurance shouldn't just be about paperwork and price — it should come with real, tangible value. These benefits make sure that once the policy is bought, the customer keeps winning throughout the year. From savings on car service to free washes, we're driving value where it matters most — behind the wheel.' Toshita Chauhan, Business Head – Motor Insurance at added, 'Motor insurance is often seen as a mandatory purchase, but we wanted to flip that narrative. With PB Advantage, we've built a value-first ecosystem where every customer — from a daily commuter to a weekend road-tripper — gets rewarded for making responsible choices. Whether it's safe driving discounts or after-policy care like servicing perks, we're here to make car ownership smarter and more rewarding.' This move follows the successful rollout of PB Advantage for health insurance customers, a program that introduced Auto Recharge, No Claim Bonuses, and 30-minute claim desk support — setting a new benchmark in insurance experience. PB Advantage for Car Insurance marks another step in mission to move insurance beyond a transactional product, making it a lifestyle benefit that rewards smart choices and safe habits. About started in 2018 is PB Fintech's (NSE:POLICYBZR) first overseas venture and is an online financial products marketplace aimed to educate people on the importance of insurance as a protection tool and becoming a platform for consumers' personal financial needs in the UAE market. currently partners with more than 35+ insurance and banking partners with 400+ products on offer ranging from new-age life insurance,health insurance, motor insurance, credit cards, bank accounts, personal loans, car loans, home loans, and more.
