Hong Kong Federation of Insurers signs research pact with PolyU on claims data trends

This is because of medical inflation rising to 10.3% in 2024.

The Hong Kong Federation of Insurers (HKFI) and the Centre for Ageing and Healthcare Management Research at PolyU CPCE signed an agreement to launch a research project to identify structural drivers of rising healthcare costs based on real-world claims data.

The projected, “The Determinants of Post-Pandemic Medical Inflation: An Analysis of Private Insurance Claims Data in Hong Kong,” was launched last 9 July, according to HKFI's July monthly briefing report.

This partnership comes after data revealing that Hong Kong’s medical inflation rose to 10.3% in 2024, far outpacing the city’s general inflation rate of 1.7%.

The widening gap has raised concerns over the long-term sustainability of medical insurance and prompted joint action from the insurance industry and academic researchers.

The issue was also addressed at the 18 July Policy Address Consultation for the Health Sector. 

HKFI representatives raised concerns around fraud, wastage, and abuse in medical claims, and called for a review of the Voluntary Health Insurance Scheme (VHIS) and broader use of technology in healthcare delivery.

Further discussions were held in a direct meeting on 31 July with Secretary for Health Professor Lo Chung-mau, Permanent Secretary Thomas Chan, and other Health Bureau officials. 

HKFI said it welcomed the government's recognition of the insurance sector’s role in maintaining healthcare access and cost control.

Both sides agreed to explore areas of cooperation, including data sharing and standardisation of medical coding, to improve transparency and help manage rising healthcare costs.