SiriusPoint expands insurance offering in China

Global specialty re/insurer  SiriusPoint has launched a new medical insurance product aiming to address a “widening gap” in the Chinese healthcare market.

SiriusPoint’s life reinsurance team has partnered with insurance and healthcare technology platform WaterDrop, managing general agent and employee solutions provider Further Group, and China Pacific Health Insurance to launch Blue Ocean LifeTime.

Aimed at the 200 million users of WaterDrop, Blue Ocean LifeTime seeks to provide Chinese policyholders with affordable access to medical treatment from around the world.

The policy includes overseas medical services to help users find advanced medical treatments, which is often difficult for policyholders to access directly. These include provisions for overseas care and access to the latest advanced treatment for cancer, such as Boron Neutron Capture, a targeted form of radiation therapy.

Florian Boecker (pictured), SiriusPoint’s head of life reinsurance, said: “Healthcare is advancing at an unprecedented speed, and it can be difficult for the insurance industry and social security systems to keep up. Blue Ocean LifeTime is well-positioned to provide cover in this widening gap between what is medically possible and what is covered by other forms of insurance.”

He added: “Private medical insurance has now become an important part of the national healthcare system in China due to its comprehensive coverage and affordable price. It is great to partner with WaterDrop, Further Group and China Pacific Health Insurance to boost the insurance pool and to make accessing specialist treatments overseas that much easier for the policyholder.”

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