In 2024, Ant Insurance, the online insurance brokerage platform of Ant Group, processed 7.25 million health claims, marking a 55% YoY increase. Total health claim payouts through the platform reached RMB 9.2 billion (USD 1.3 billion).
The growth reflected the rising demand for health insurance in China, driven by increasing healthcare needs and demographic changes.
China’s aging population is a key factor in expanding the health insurance market. By 2035, over 400 million people, or approximately 30% of the population, will be 60 or older, according to projections from China’s National Health Commission.
As healthcare needs grow, commercial health insurance will play a more significant role in supporting the country’s basic medical system.
Ant AI-powered health insurance integrates advanced AI to streamline the insurance process, improving accessibility and user experience. The platform provides product selection, planning, and claims management services.
In 2024, its AI-powered EasyClaims solution supported 85 health insurance products from 11 partner insurers, with AI handling 96% of the 1.62 million claims analysis requests from policyholders.
Ant Insurance also offers tools like the GoldenChoice feature, which uses the Ant Insurance Multi-factor Model (AIMM) to compare and recommend insurance products, and EasyPick, an AI planner that helps users create personalised coverage plans. These innovations reduce the risk of overbuying or selecting inadequate health insurance coverage.
In September 2024, Ant Insurance launched Ant Bridge, an open platform that helps insurers integrate AI models to provide personalised, real-time responses to customer inquiries. The platform is designed to enhance operational efficiency and improve service quality.
Beyond insurance, Ant Group has been contributing to the digital transformation of China’s healthcare sector. The Alipay platform now connects over 800 million users with services from more than 3,600 hospitals.
In 2024, Ant Group introduced the AI Healthcare Manager within the Alipay app, offering over 30 services, such as doctor consultations, medical report analysis, and in-hospital navigation. These advancements reinforce the role of Ant AI-powered health insurance solutions and more in enhancing medical service efficiency and expanding access to healthcare solutions across China.
By leveraging cutting-edge AI, Ant AI-powered health insurance is driving the next phase of digital innovation in the insurance industry, ensuring seamless, data-driven health coverage for millions of users.
Source of image: Ant Group
