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For Ping An, insurtech partner is a road to cloud

Ping An Cloud is supporting CareVoice’s expansion into Hong Kong as part of a broader tech sell.

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The CareVoice, a Shanghai-based insurtech that sells software to carriers serving healthcare consumers in mainland China, has recently expanded its offering to Hong Kong.

It has done so in partnership with Ping An Cloud Accelerator, a Shenzhen-based unit of Ping An Group.

For Ping An, supporting CareVoice is about more than growing the insurtech’s business. It’s also being used as a series of solutions being packaged to help Ping An market its cloud technology.

Daniel Csontos, a director at the accelerator, says Ping An only began selling its cloud tech to non-group clients last year. It is targeting financial institutions in both mainland China and Hong Kong. CareVoice is using Ping An’s cloud service to run its new Hong Kong business, but for Ping An there’s more to the relationship.

“We can bundle our solution [for banks and insurers] to include services such as The CareVoice’s,” Csontos said.

Health cover for startups

In Hong Kong, CareVoice is pitching its mobile-based services to insurers looking for an efficient way to sell cover to companies or individuals. It also plans to open the platform to startup businesses seeking staff medical plans.

It has launched with Inter Partner Assistance, a network of clinics and hospitals, and is digitizing its operations, says Sebastien Gaudin, CareVoice’s CEO and founder.

“This is a newly designed product to help insurance companies look at the market more like a full-stack disrupter would,” he said. The first iteration is called StartupCare, and is aimed at providing health benefits to Hong Kong entrepreneurs.

We can bundle our solution to include services such as The CareVoice

Daniel Csontos, Ping An Cloud Accelerator

Separately, he says, CareVoice is working with another mainland insurance player, ZhongAn, to provide maternity insurance.

The CareVoice got its start in mainland China as a comparison and review site to let wealthy individuals select private hospitals, doctors, or access the VIP rooms in public hospitals. This clientele would in turn attract insurance companies looking to sell them cover, with CareVoice taking a commission.

From there, the company built a Software-as-a-Service platform, aimed at health insurance companies, where they and their policyholders could handle the full spectrum of insurance needs, from booking a doctor’s appointment to submitting claims. There are now 12 insurance companies in mainland China subscribing to the service.

The company joined the first batch of fintechs involved in Ping An Technology’s accelerator program, designed to help companies that already had customers and revenues to expand in China. Csontos worked with Gaudin’s team to help introduce them to entities across the Ping An Group world, and to support their fund-raisings. CareVoice “graduated” last October.

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For Ping An, insurtech partner is a road to cloud