The health insurance sector has faced persistent double-digit medical inflation over the past decade, driven by a rapidly ageing population, overconsumption and overservicing of medical services. These factors have led to unsustainable premium increases for clients. In response, MSIG Singapore has appointed Inova Care to manage health insurance claims, aiming to bring significant improvements to its healthcare portfolio and ultimately benefit its valued customers.
Founded in 2002 in USA, Inova Care has a global presence across 15 countries and three continents, serving over 5 million policyholders. The company boasts an extensive network of 1,000 hospitals and 5,000 clinics, with a strong foothold in Asia, including Singapore. Inova Care specializes in managed healthcare, clinical pathways, and patient monitoring services, achieving cost efficiencies for its clients.
“Our partnership with Inova Care is a pivotal step in managing healthcare claims costs and ensuring the sustainability of our health portfolio,” said Mack Eng, CEO of MSIG Singapore. “Inova Care’s expertise will drive greater efficiencies and fundamentally benefit our policyholders by improving the quality and affordability of our health plans. This collaboration, and upcoming initiatives are designed to ensure quality medical care for our valued customers, and secure the long term sustainability and affordability for our clients.”
John Le Boeuf, Founder & CEO of Inova Care, added, “We are thrilled to partner with MSIG Singapore to bring our proven expertise in managed healthcare to their policyholders. Our goal is to provide innovative solutions that enhance the quality of care while reducing costs. We look forward to a successful collaboration that will benefit MSIG’s customers and contribute to the sustainability of their health insurance portfolio.”
Inova Care’s appointment will enable MSIG Singapore to explore innovative ways to manage its health insurance portfolio. This includes adopting a managed care approach, where primary care physicians serve as holistic healthcare managers. Inova Care’s expertise in clinical pathways and patient monitoring services, utilizing advanced technology and AI solutions, will support MSIG’s efforts to provide timely interventions and better health outcomes for policyholders.
MSIG and Inova Care look forward to collaborating with various stakeholders to ensure long term sustainable healthcare insurance programs for policyholders.
Hashtag: #MSIG
The issuer is solely responsible for the content of this announcement.
About Inova Care
Inova Care, founded in 2002, specializes in helping insurance companies manage medical and utilization costs through innovative products and services. Together with the Founders’ experience of over 35 years in managed healthcare, Inova Care supports insurance programs in 15 countries across three continents, serving over 5 million members. The company is known for its transparent, client-focused solutions and has achieved significant cost savings for its clients.
inovacare.comAbout MSIG Insurance
A leading general insurer with a local presence of over 100 years, MSIG Singapore offers an extensive range of insurance solutions for commercial and personal risk protection, enabling the security and safety of individuals and businesses. MSIG Singapore holds an A+/Stable financial rating by Standard & Poor’s.
MSIG Singapore has garnered numerous awards for delivering digitally innovative and customer-centric solutions. In 2024, MSIG was honoured with the ‘Best General Insurer for Singapore’ award by InsuranceAsia News. This prestigious recognition highlights its unwavering commitment to excellence and customer satisfaction.
MSIG is a subsidiary of Mitsui Sumitomo Insurance Co., Ltd, and a member of the MS&AD Insurance Group – one of the largest general insurance groups in the world with presence in 50 countries and regions globally, 18 of which are in Asia Pacific including all ASEAN markets as well as in Australia, New Zealand, China, Hong Kong, Taiwan, South Korea and India. Headquartered in Japan, MS&AD is amongst the top non-life insurance groups in the world based on gross revenue.
