SME Group Health Insurance Solutions Provider StartupCare Appoints New CEO
CareVoice, 7/07/20
Shanghai-based StartupCare, a provider of group health insurance solutions for SMEs and startups that was spun off last year from international health insurtech company The CareVoice, announced today the appointment of Wu Ying as Chief Executive Officer.
Mr. Wu, who officially started in the new role as CEO from April 1, 2020, brings nearly 20 years of experience in technology and healthcare to StartupCare. A serial entrepreneur, he founded Dr. Heart, the first wearable heart attack predictor in China and co-founded Socrates AI, a leading cross-border medical AI solution, that has successfully exited. Before his entrepreneurial endeavors, he held various management positions in product, sales, and marketing at Samsung Electronics, Intel, and Eli Lilly. Mr. Wu is a graduate of Shanghai University and received his Masters of Business Administration from University of North Carolina at Chapel Hill.
"We are excited to have Ying on board as StartupCare disrupts the employee benefit services in China's growing SME market. We believe StartupCare will spearhead online penetration by leveraging The CareVoice's ecosystem as a service platform. StartupCare stands to benefit tremendously from Ying's unique background in entrepreneurship, technology, and healthcare," commented Jin W Jeong, Managing Director at Apis Partners, an investor of StartupCare.
StartupCare offers healthcare solutions for startups and SMEs by offering insurance plans with healthcare services. As the CEO of StartupCare, Mr. Wu is in charge of setting the company's growth strategies and leading its teams in Mainland China and Hong Kong.
China's SME insurance market is relatively young, and companies have different degrees of receptiveness to mid- to high-end employee benefits plans. To educate new customers, access new markets and drive scale, Mr. Wu plans to further diversify StartupCare's product offerings. StartupCare is working on developing affordable plans to cater to the lower-budget clients and encourage faster adoption of mid to high-end insurance among SMEs. Compared to Mainland China, Hong Kong's SMEs are already attuned to providing mid- to high-end health insurance for employees, but the stagnant group insurance industry there is ripe for disruption. By offering innovative product offerings and access to a novel digital consumer journey, StartupCare is set to thrive in the Hong Kong market.
Mr. Wu believes that bringing convenience and value is key: "It's not enough to just offer good products, we need to provide solutions to employers to allow them to set up their employee benefits systems more easily and faster, as well as address growing employees' needs for wellness and medical services delivered digitally."
About StartupCare
StartupCare is the first group health insurance solution created for SMES and Startups in Asia. It combines flexible, cost-efficient insurance plans with exclusive health management programs to protect teams and guide them to live a healthy lifestyle.
Launched in 2018 in collaboration with PingAn Health in Mainland China, StartupCare set up shop in Hong Kong under a partnership with Generali in 2019, and has managed to establish a solid presence in the group health insurance market with now over 300 clients.
About Apis
Apis Partners LLP is a global investment manager specializing in investments democratising access to financial services and related industries. Through its co-mingled and managed funds, Apis invests in sustainable early to growth stage businesses and helps them scale. Headquartered in London, the Apis team is spread across Singapore, the U.S., India, Nigeria, Kenya, and South Africa.
Keywords: mobile insurance mobile healthcare Apis Wu Ying insurance wireless CareVoice StartupCare HR
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