Prudential Hong Kong saw the number of cross-border medical claims increase by 23 percent year-on-year in 2024, as northbound Hongkongers have expanded their spending scenarios in mainland cities into medical treatment.
To meet the rising demand for cross-border medical treatment, Prudential will keep working on relevant insurance products and broadening its hospital network in the Greater Bay Area, said Candy Au Yeung, chief customer operations and health officer at the insurer’s Hong Kong branch.
Prudential announced a partnership in May with Foshan Fosun Chancheng Hospital to offer clients medical expense direct billing services at the hospital.
It also found that 60 percent of clients in Hong Kong and mainland China with medical insurance are concerned about rising premiums and 65 percent depend on personal savings for medical costs, based on a survey.
The insurer surveyed 336 clients aged 18 or above in June, including both Hongkongers and mainlanders.
It launched a brand new Hospital Cash Savings Insurance, combining whole-life health and life protection with long-term savings growth.
The new plan allows subscribers to complete the premium payment in as little as five years, according to chief product officer Felix Fung.
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