#MedicalInsurance

Did you know that the average person in Taiwan has three insurance policies? With the rise of emerging medical technology, commercial health insurance is being revolutionized.

In 2023, the Bio-Taiwan Committee (#BTC) has called for commercial insurance to open up to innovative medical technology products. General Biologicals Corp. (GBC) and FUBON LIFE INSURANCE CO., LTD. have launched the first excess insurance policy in Taiwan that covers cancer screening technology. ACT Genomics and SOFIVA Genomics partnering with Cathay Life Insurance Co., Ltd., and Health2Sync 智抗糖 with Nan Shan Life Insurance Co., Ltd have also joined forces to introduce innovative insurance products.

According to Frank Lin (林孟德), General Biologicals Corp. (GBC)' CEO, in addition to product innovation, service is key, focusing not only on breadth but also depth.

Yili L. (李伊俐), president of AmCad BioMed, emphasizes the importance for #medtech companies to understand their product characteristics to determine whether to pursue national or commercial health insurance, while also listening to market needs. "Distribution channels are crucial," she says.

Read more: https://lnkd.in/g75XFqAj

Stay tuned to #Globalbio for more insights into the intersection of medical technology and insurance!

#healthcare #healthinsurance #InsuranceInnovation #CTC #SOFIVAGenomics