Alibaba Health, CPIC Ally on Online Health Insurance
Ebrun, 7/28/15
Chinese e-commerce conglomerate Alibaba Group's (NYSE: BABA) Hong Kong-based health services subsidiary Alibaba Health Information Technology (0241.HK) has announced it signed a deal with CPIC Allianz Health Insurance, a subsidiary of China Pacific Life Insurance (CPIC), to explore online health insurance products as a new model for health insurance services.
As part of the strategic partnership, Alibaba Health will move online CPIC Allianz's health insurance products, including CPIC Allianz's insurance application, claims processing, auditing, and payment services. Alibaba Health will also develop new products to meet the needs of the emerging online healthcare sector, such as a product designed for patients receiving treatment through Alibaba Health's cloud hospital system. Alibaba Health and CPIC Allianz will jointly promote health reform policies, and explore commercial insurance services for community hospitals, family doctors, disease prevention and control, health management, chronic disease management, and elderly nursing care.
A spokesperson for Alibaba Health revealed that the company might release a healthcare financial investment product to Alibaba's money market fund Yu'e Bao and film investment platform Yulebao to give young people a chance to earn a higher rate of return when purchasing health insurance.
Keywords: online healthcare Internet Alibaba Group Alibaba Health 0241.HK China Pacific BABA
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