INSUBCONTINENT EXCLUSIVE:
The CareVoice, a Shanghai-based health insurance software startup with ambitions to expand throughout Asia, announced today that it has
raised about $10 million in Series A funding.The investment was led by LUN Partners Group and an undisclosed global investment manager that
specializes in financial services, with participation from DNA Capital and returning investors SOSV and Artesian Capital
After that, the company plans to expand into other markets in Asia.Founded in 2014, The CareVoice started as an app that let patients leave
reviews about medical providers before focusing on software like its flagship product, an SaaS solution that makes healthcare and insurance
products more accessible to customers on mobile, with the goal of increasing sales and retention
There are several other startups in China focused on simplifying the process of buying health insurance, like Instony, Datebao, eBaoTech and
Bowtie, but a representative for The CareVoice says it focuses less on sales tools and is instead building an end-to-end platform for
insurers that can integrate with their existing solutions.The startup is currently used by 15 insurance providers in China and Hong Kong,
including Ping An and AXA
developing 10 new insurance products with health insurance partners, essentially rebranding traditional insurance policies and making them
easier to access.The CareVoice also recently released a platform for insurers called CareVoiceOS, designed to enable insurers to create more
customized plans and connect to other online healthcare services, and launched a new unit called StartupCare that allows startups to give
founders and employees health benefits.
