Jun 29, 2020
How Chinese tech giants are disrupting insurance industry with pooled funds
Posted by Derick Lee in categories: biotech/medical, finance, health, information science, internet, mobile phones
However, the situation has been improving as Chinese tech giants including e-commerce company Alibaba, search engine Baidu, on-demand delivery company Meituan Dianping, ride-hailing operator Didi Chuxing and smartphone maker Xiaomi now offer more affordable health care plans via mutual aid platforms, which operate as a collective claim-sharing mechanism.
China’s online mutual aid platforms are disrupting old school insurance companies by leveraging big data and internet finance technologies to offer low cost medical coverage.