Alipay is processing health insurance claims within seconds using a blockchain system, state-owned Securities Daily
reported yesterday.
Alipay runs a free health insurance product as part of its rewards system. When users pay offline with AliPay, they earn bonus points towards the health insurance product. The plan is run with one of China’s largest life insurers Taikang Insurance. Within a month of launching in April 2017, 13 million people had signed up for the rewards program which amounts to 11% of Taikang’s online users, according to
Asean Today.
A patient at Taizhou Central Hospital paid the bills using AliPay. The hospital issued electronic invoices on the blockchain. Because the invoices are generated by the hospital and are tamper proof, AliPay doesn’t need to check their authenticity. It helps to address issues like over reporting, false reporting, and fraudulent invoices.
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