Prudential Hong Kong has introduced MedScreen+, a new digital underwriting tool developed in partnership with Reinsurance Group of America (RGA).

The launch makes Prudential the first insurer in Hong Kong to implement this technology, aiming to streamline 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, providing a more efficient and transparent process for underwriters.

It also supports Prudential’s financial consultants by providing rapid and indicative underwriting results at the application stage.

The system can handle more than 160 types of lab tests, including blood tests, ultrasound, ECG, CT scans, and more. This capability allows it to evaluate routine health exams and other medical requirements, providing indicative underwriting results.

By automating the processing of test results, Prudential says underwriters can focus on more complex assessments, instead of manually reviewing in-depth medical reports.

Candy Au Yeung (pictured above), head of client operations and head of healthcare at Prudential Hong Kong, commented on the initiative.

“We recognize the importance of providing rapid protection to 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 providing effective solutions that meet the evolving needs of our customers. »

Carmony Wong, RGA’s senior vice president for Southeast Asian markets and CEO of Hong Kong, also spoke about the collaboration.

“I am delighted to announce our partnership with Prudential to launch MedScreen+, an innovative solution to the market that enables insurance companies to improve their underwriting journey. This collaboration highlights our shared commitment to customer excellence and our commitment to enabling customer experience digitally. Together, we are paving the way for a more efficient insurance landscape in Hong Kong, geared towards customer needs,” Wong said.

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