Millions rush to join a wild new health plan from Jack Ma's Ant Financial

— Billionaire Jack Ma’s Ant Financial has done more than perhaps any company to disrupt China’s gargantuan banking and asset-management industries. Now it’s trying to re-imagine health insurance.

Ant, best known for the Paypal-like Alipay service that underpins Alibaba Group Holding Ltd.’s online shopping platform, is re-designing financial products from money market funds to consumer credit that have long been dominated by state-owned Chinese behemoths. The company’s foray into health care comes at a time when the country is grappling with a rapidly aging population, one of the more pressing long-term threats to the world’s second-largest economy.

The products may help fill a yawning gap in medical protection for the world’s biggest population as its rate of critical illnesses soars, partly due to more expert diagnoses. As of April, almost a third of Xiang Hu Bao’s members hailed from poorer rural areas, while nearly half were migrant laborers.

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Millions rush to join a wild new health plan from Jack Ma's Ant Financial[HONG KONG] Billionaire Jack Ma's Ant Financial has done more than perhaps any company to disrupt China's gargantuan banking and asset-management industries. Now it's trying to re-imagine health insurance. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Millions rush to join a wild new health plan from Jack Ma's Ant Financial[HONG KONG] Billionaire Jack Ma's Ant Financial has done more than perhaps any company to disrupt China's gargantuan banking and asset-management industries. Now it's trying to re-imagine health insurance. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

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