News
AsiaCare-Launch Event at Sheraton
May 2009
May 22nd –AsiaCare today held its official launch event; A get together and dinner at the Sheraton where guests celebrated the official launch of the company. The evening was enjoyed by all, as a brief reception was followed by speeches by our Board Member, Ms. Ayesha Tammy Haq and by our MD & CEO-Dr. Mehdi Kazmi. After dinner the guests were treated to a wonderful musical performance by Mr. Khalid Anum and troupe.
AsiaCare obtains license from SECP
May 2009
AsiaCare obtained its license approval from the Securities & Exchange Commission of Pakistan allowing it to operate as an insurance company in Pakistan. To obtain approval AsiaCare has had to meet the SECP's strict guidelines and requirements as per the Insurance ordinance, 2000.
AsiaCare holds press conference to announce launch
AsiaCare today announced its official launch during a press conference held at the Karachi Sheraton Hotel. The conference was attended by prominent members of the media. The media launch ceremony was attended by Dr. Mehdi Kazmi, Managing Director & CEO, Mr. Imran Chishti , Head of Marketing, Business Development & Technology, Mr. Rehan Mobin, Chief Financial Officer & Mr. Omar Haq, Healthcare consulting actuary.Speaking at the occasion, Company's Chief Executive Dr. Mehdi Kazmi said, "AsiaCare is offering its members a complete health insurance solution that the people of Pakistan have felt the need for in the last several years. It is providing a comprehensive range of insurance plans & is also offering customized and flexible products & services. The company believes that health insurance is an underserved business space in Pakistan and that it should be a right and not just a privilege for few. Currently less than a million people out of a population of 165 million are insured, due to slower evolution of the industry compared to similar countries. The result is a lack of wider availability of affordable and quality products. The industry is ripe for change and AsiaCare is well positioned to address the health security needs of the masses of Pakistan".
AsiaCare receives product approval for group health insurance products from SECP
April 2009
AsiaCare is proud to announce that it has received approval from the SECP, to market and sell its group health insurance plans. AsiaCare will be offering a comprehensive range of insurance plans, which are fully customizable and flexible. All plans cover dread diseases, catastrophic illness, hospitalization, maternity and cancer care (with some limitations).
AsiaCare announces establishment of hospital network in Karachi, Lahore and Islamabad
March 2009
AsiaCare is proud to announce that it has completed the first phase of its network establishment. This ensures that AsiaCare policy holders will be able to access healthcare services in the most prominent hospitals in Pakistan. Hospitals in our network are now ready to facilitate and handle AsiaCare's patient traffic. AsiaCare has formed a unique network as it is Pakistan's first credentialed network of hospitals and doctors; completely in line with the first-world standards of credentialing and contracting. The philosophy which has been followed in the first phase was to "ensure quality" and to make sure that AsiaCare patients had access to the finest quality healthcare available.
AsiaCare appoints Milliman as their UM vendor
Feb 2009
AsiaCare is proud to announce that it has appointed Milliman as the vendor for their utilization management module. This module will allows AsiaCare to more efficiently manage the use of medical services to ensure that a patient receives the necessary, appropriate and high-quality care in a cost-effective manner.
About Milliman
Milliman is among the world's largest independent actuarial and consulting firms. Founded in Seattle in 1947, they currently have 49 offices in key locations worldwide. Milliman employs over 2,100 people which includes more than 1,100 qualified consultants and actuaries. Through consulting practices in employee benefits, healthcare, investment, life insurance and financial services, and property and casualty insurance, Milliman serves the full spectrum of business, financial, government, union, education, and nonprofit organizations.
AsiaCare HIS system goes live
Jan 2009
AsiaCare announced today that the Health Insurance software deployed to manage & support their health insurance product and service offering has just gone live. By leveraging the power and flexibility of the latest technology, AsiaCare brings unmatched efficiency to the health insurance industry.
The Health Insurance System includes the following:
- Product Configuration
- Plan & Cover Maintenance
- Quotation
- Underwriting
- Endorsement
- Renewals
- Claims Intimation/Settlement
- Reinsurance
AsiaCare Hires Head Of Marketing, Business Development, & Technology
November 2008
Karachi, Pakistan- Karachi, Pakistan: AsiaCare is proud to announce that Mr. Imran Chishti has joined as Head of Marketing, Business Development and Technology. Mr. Chishti has a Masters from the London School of Economics and an MBA from California. His roles have spanned banking, insurance, institutional sales, program and product management, as well as running the operations of a consumer goods company. He has over 16 years of experience with blue-chip companies including Morgan Stanley, MetLife, Shield and Orascom Telecom in the USA, UK and Pakistan.
OMI Signs With AsiaCare To Become Our First Network Provider
October 2008
Karachi, Pakistan- AsiaCare has signed a preferred provider agreement with the Orthopaedic & Medical Institute(OMI) to become our first panel hospital, allow our members easy access to one of the top medical care facilities in Pakistan. This agreement will allow AsiaCare members, to be treated at OMI with the reassurance that all medical bills will be settled directly between the hospital and AsiaCare. AsiaCare in finalizing this agreement has demonstrated its commitment to providing its members access to the highest standards of clinical care.
About OMI
Nestled in a verdant enclave in one of the busiest areas of Karachi, The Orthaeopedic & Medical Institute has been serving patients with distinction since 1986.Founded by professor A. Rahim one of Pakistan's most respected surgeons, OMI has built its reputation as a leader in medical and surgical specialties, and as the chosen workplace of some of the finest specialists in the country.
AsiaCare appoints Sidat Hyder as vendor for HIS
October 2008
AsiaCare today announced that it has entered into an agreement with Sidat Hyder, a leading insurance policy administration software provider. Sidat Hyder will deploy and implement its Insurance Administration System to support AsiaCare's Health Insurance Service & Product offering. SHMA's consultants will be implementing and deploying a fully customized health Insurance system for AsiaCare. AsiaCare's technology strategy uses a modular approach to build a platform using both browser based (external connectors) as well as client server applications running on thick clients (internal workstations).
External connectors: Enrollment, eligibility, member and provider services, account management, illustrations and rate quotes, sales and agency services.
Internal workstations: Product configuration, underwriting and rating, policy administration, claims and benefit processing, accounting, billing, collections, regulatory reporting, MIS.
Their core specialty area includes:
- Actuarial & Insurance Consulting.
- Human Resources Consulting.
- Business Systems Consulting.
- Information Solutions & Services.
Committed to delivering innovation, Sidat Hyder collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, access to broad global resources and a proven track record, we can mobilize the right people, skills, and technologies to help our clients improve their performance.
AsiaCare Hires CFO
September 2008
Karachi, Pakistan- AsiaCare is proud to announce that it has hired Mr. Rehan Mobin ACA (PAK) CPA (USA) to fill the position of Chief Financial Officer. Mr. Mobin comes to us from PICIC Insurance Limited, where he filled the position of Chief Financial Officer & Company Secretary.
About AsiaCare
Asia Care Health and Life Insurance Company Limited is Pakistan's first dedicated managed care health insurer. The company is launching innovative health insurance products in the Pakistani market based on the international "Managed Care" model with local adaptations. In Pakistan, Asia Care is a wholly-owned subsidiary of an American based organization. Our mandate is to operate health insurance systems and to foster health insurance businesses in the region.
