Partner insurer payout leaps 23% YoY through Ant Group's insurance arm

Health insurance claims contributed about 5 million claims processed by partner insurers on Ant Insurance

In 2023, China's top insurers reported claim payouts of $3.22b, jumping 23% year-on-year (YoY), on Ant Insurance, the online insurance brokerage platform of Ant Group in China.

Through the Alipay digital life service platform, health insurance claims alone accounted for 4.69 million claims processed by partner insurers on Ant Insurance. The growth was attributed to increased medical consultations and the introduction of more zero-deductible products.

Notably, 98% of health insurance claims utilised the EasyClaims (Anxinpei) feature, an AI-enabled expedited settlement solution introduced in early 2022.

EasyClaims has gained widespread adoption across health and accident insurance categories, covering outpatient services, hospitalisation, critical illness, and accidents.

ALSO READ: China’s medical insurance funds reach $368b YTD: Report

Ant Insurance now serves 90 products from 12 leading insurers.

The AI-enabled customer assistance of EasyClaims in the claim submission process achieved a 91% satisfaction rate among users. Overall user satisfaction for the entire claiming process reached 94%.

Starting January 2024, EasyClaims will publish monthly scores for selected insurance products, evaluating them based on submission success rate, timely completion rate, settlement acceptance rate, and user satisfaction rate.

This initiative aims to enhance transparency and user knowledge of claim services.

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