On May 30th THEKEY entered into partnership with the Taikang Group to provide IDV services in the field of direct and rapid settlement of commercial insurance. It is the latest significant collaboration atop already contracted collaborations with some of the world’s leading insurance companies such as China Re, China Ping An, Reinsurance Group of America (RGA) and China Pacific Insurance (CPIC).
Taikang Group is currently one of China’s largest insurance and financial services institutions which mainly operates across three main business sectors: insurance, asset management, and health and elderly care. For 14 consecutive years Taikang Group has ranked among “China’s Top 500 Companies.”
THEKEY has indisputable advantage in facilitating the insurance claim settlement. With already authorized access validated government personal identity data (PII) for 210 million Chinese across 66 cities, THEKEY will provide an integrated solution for Identity Verification (IDV), Medical Term Standardization (MTS) and Claim Process Automation (CPA) to Taikang in support of direct and rapid online settlement of medical insurance.
This cooperation has a great significance for the Chinese, and soon, the global marketplace. Currently, in order to receive reimbursement from insurance companies, the insured has to submit a paper-based medical claim for the insurance company
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