Healthcare insurer Aetna International is establishing an Asian innovation hub which will focus on leveraging local expertise and customer feedback to develop tailored solutions for the region's markets, based on its existing offerings.
Based in Singapore, the hub is specifically aimed at local healthcare market needs in regional markets including Indonesia, Thailand, Vietnam, Philippines, Malaysia, China, Hong Kong and Singapore, the company said in a release yesterday.
The hub will create an end-to-end product development capability for Aetna in the region, allowing it to develop and distribute products more effectively and bring them to market more quickly, enhancing its capabilities as a full-service healthcare insurer in Asia.
Mr Derek Goldberg, Aetna’s Managing Director for Southeast Asia and Hong Kong, said that “the significant investment that the group is making in developing the core team at the Innovation Hub demonstrates Aetna’s ongoing commitment to expanding its presence in the Asia Pacific region, with a focus on building region-specific products”.
Mr Ran Wang, Aetna’s Regional Product Manager for Southeast Asia and Hong Kong and a core member of the Innovation Hub team, said: “The Innovation Hub will help us translate Aetna’s vast healthcare expertise to markets in Asia and increase our reaction time to market developments in the region, making us more responsive to our clients’ needs.”
Mr James Pisko, an actuary previously based in Aetna’s Hartford, Connecticut head office, recently relocated to Singapore to join the Innovation Hub team. He said: “Developing an actuarial presence in the APAC market will help improve our analytical capabilities, allowing us to drive profitable growth and explore strategic initiatives. Additionally, this will better facilitate the transfer of knowledge from Aetna’s corporate actuarial Hub to the local teams to execute timely and accurate business decisions.”
One of the largest providers of international private medical insurance, Aetna International serves more than 700,000 members worldwide. Its global benefits include medical, dental, vision and emergency assistance and, in some regions, life and disability.