Shanghai-Based Insurtech Startup Raises $10 Million
The CareVoice, a health insurance software developing company has raised worth around $10 million in order to increase its operations in Hong Kong, expand its business in Asia, and to enhance its research and development techniques. The company also aims to step into other markets (details not disclosed) in Asia.
For the new round, The CareVoice has taken the help of DNA Capital, LUN Partners Group with the participation of its early investors Artesian and SOSV Capital along with a financial service providing company, whose name has been kept undisclosed by the startup.
The founder and Chairman of LUN Partners Group, Peilung Li states, “We foresee that insurance will be the next sector to experience the highest growth of digitalization and innovation as well as the arrival of new fintech unicorn companies.” He added, “CareVoice is driving digitalization and innovation for insurance companies, and we are very confident about its development in the Greater China market. To further aid the Company’s growth, LUN Partners will help CareVoice extend its proven digitalization solutions to overseas insurance marketplaces in Japan, Southeast Asia and other regions.”
The CareVoice had initiated its journey by launching an app that people use to share their reviews about medical providers. Its both the services have been used by several insurance providers including AXA and PingAn till now, in Hong Kong and China.
Currently, the firm is working on its goal to improve the insurance claiming process, customer experiences, and recruitment process. Also, with the help of its health insurance partners, it is about to develop 10 other new insurance products along with customizing the existing insurance policies and trying to make them easily accessible.
Recently, The CareVoice has launched two separate units named StartupCare and CareVoiceOS. CareVoiceOS platform is for insurance providers to connect with other healthcare service providers and create customized plans to help their clients. Where, StartupCare platform is for startups to provide health benefits to their corporate users.
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