MediConCen Company Profile

Background

Overview

MediConCen Limited, established in 2018 and headquartered in Kowloon, Hong Kong, is a leading InsurTech company specializing in automating insurance claims through artificial intelligence (AI) and blockchain technology. The company aims to revolutionize the insurance claim experience by providing seamless and efficient solutions for insurers, healthcare providers, and policyholders.

Mission and Vision

MediConCen's mission is to transform the insurance industry by digitizing and automating the claims process, thereby enhancing transparency, reducing fraud, and improving overall customer satisfaction. Its vision is to become a global leader in InsurTech, leveraging cutting-edge technologies to streamline insurance operations worldwide.

Primary Area of Focus

The company's primary focus is on automating insurance claims processing using AI and blockchain, offering a mobile application for clinics and a one-stop solution for stakeholders in health insurance. This approach facilitates insured client check-ins, efficient claim settlements, and fraud prevention.

Industry Significance

MediConCen holds a significant position in the InsurTech industry by being the first in Hong Kong to utilize Hyperledger blockchain technology for insurance claims automation. The company has secured blockchain patents in both the United States and Hong Kong, serving over 16 insurers and more than 1 million insured individuals. Its cashless claim platform includes over 1,200 medical providers, highlighting its substantial impact on the insurance and healthcare sectors.

Key Strategic Focus

Core Objectives

Global Expansion: Accelerate international growth, particularly in the Middle East and Southeast Asia, to broaden market reach and influence.

Technological Leadership: Maintain and enhance leadership in AI and blockchain technologies to continually improve insurance claims automation.

Customer Experience Enhancement: Focus on delivering a seamless and efficient claims process to improve satisfaction for insurers, healthcare providers, and policyholders.

Specific Areas of Specialization

Insurance Claims Automation: Utilize AI and blockchain to automate and streamline the insurance claims process, reducing manual intervention and errors.

Fraud Prevention: Implement advanced technologies to detect and prevent fraudulent claims, ensuring integrity and trust in the insurance system.

Key Technologies Utilized

Artificial Intelligence (AI): Employ AI algorithms for data analysis, fraud detection, and process optimization.

Blockchain Technology: Leverage Hyperledger blockchain to create secure, transparent, and immutable records of insurance claims.

Primary Markets Targeted

Insurance Companies: Collaborate with insurers to enhance claims processing efficiency and reduce operational costs.

Healthcare Providers: Partner with medical institutions to facilitate seamless claim settlements and improve patient care.

Policyholders: Offer a user-friendly platform for insured individuals to manage claims and access healthcare services efficiently.

Financials and Funding

Funding History

MediConCen has successfully secured a total of $12.7 million in funding through two rounds:

Series A Funding (February 2024): Raised $6.85 million, led by HSBC Asset Management, with participation from existing investors G&M Capital and ParticleX, and new investor Wings Capital Ventures.

Utilization of Capital

The funds are allocated to:

International Expansion: Focus on entering and establishing a presence in the Middle East and Southeast Asia markets.

Technological Development: Enhance AI and blockchain capabilities to improve the automation and security of insurance claims processing.

Operational Scaling: Support the growth of infrastructure and personnel to accommodate increased demand and service expansion.

Pipeline Development

Key Pipeline Candidates

MediConCen is actively developing:

AI-Driven Claims Processing Solutions: Advanced systems to automate and expedite the insurance claims process.

Blockchain-Based Fraud Detection Frameworks: Innovative tools to identify and prevent fraudulent activities within the insurance sector.

Stages of Development

Research and Development: Ongoing efforts to refine AI algorithms and blockchain protocols for optimal performance.

Pilot Testing: Implementing solutions in select markets to assess effectiveness and gather user feedback.

Full Deployment: Scaling successful solutions across broader markets, including international regions.

Target Conditions

Insurance Claims Processing: Streamline and automate the end-to-end claims workflow.

Fraud Prevention: Enhance detection and mitigation of fraudulent claims to protect stakeholders.

Anticipated Milestones

Short-Term (1-2 Years): Complete pilot testing and initial deployments in targeted international markets.

Medium-Term (3-5 Years): Achieve widespread adoption of automated claims processing solutions across multiple regions.

Long-Term (5+ Years): Establish MediConCen as a global leader in InsurTech, recognized for innovation and reliability.

Technological Platform and Innovation

Proprietary Technologies

Hyperledger Blockchain Platform: A secure and transparent ledger system for recording insurance claims, ensuring data integrity and trust.

AI-Powered Analytics Engine: Advanced algorithms for processing and analyzing large datasets to optimize claims management and detect anomalies.

Significant Scientific Methods

Machine Learning Algorithms: Utilized for predictive analytics, fraud detection, and continuous improvement of claims processing efficiency.

Natural Language Processing (NLP): Employed to interpret and process unstructured data from medical invoices and claims documents.

Leadership Team

Executive Profiles

William Yeung – CEO and Co-Founder

An actuary with extensive experience in digital commerce within the insurance sector. Previously co-founded FWD's digital commerce channel, achieving the number one position in Hong Kong by sales.

Kelvin Yeung – Co-Founder and COO

Brings a wealth of experience in operations and technology management, focusing on scaling business operations and implementing innovative solutions.

Jenny Lau – Co-Founder and CMO

Specializes in marketing and customer engagement strategies, with a strong background in brand development and market expansion.

Ben Ng – Co-Founder and CTO

An expert in technology development and implementation, leading the technical team in building and maintaining MediConCen's platform.

Leadership Changes

As of January 2026, there have been no publicly disclosed significant changes or appointments within MediConCen's leadership team.

Market and Competitor Insights

Market Dynamics

The global InsurTech market is experiencing rapid growth, with projections estimating a market size of $58.6 billion in 2024. This expansion is driven by increasing demand for digital transformation in the insurance industry, particularly in claims processing and fraud prevention.

Key Competitors

Lemonade Inc.: A prominent InsurTech company offering AI-driven insurance solutions, with a market capitalization of $1.5 billion as of late 2024.

DXC Technology: Provides digital transformation services to insurers, including claims automation and data analytics.

Capgemini: Offers a range of digital services to the insurance sector, focusing on operational efficiency and customer experience enhancement.

Strategic Collaborations

In July 2025, MediConCen partnered with HealthMutual Group (HMG) to develop an advanced AI-driven claims solution tailored for the Hong Kong market. This collaboration aims to streamline claims processing, enhance efficiency, and establish a localized fraud detection framework.

Operational Positioning

MediConCen differentiates itself through its proprietary use of blockchain technology for insurance claims automation, setting it apart from competitors who may rely on traditional methods or less secure technologies. The company's established partnerships with over 16 insurers and more than 1 million insured individuals provide a robust foundation for scaling operations and expanding market presence.

Strategic Opportunities

MediConCen is well-positioned to capitalize on the growing demand for digital solutions in the insurance industry. Opportunities include expanding its platform to new international markets, enhancing AI capabilities for predictive analytics, and developing additional value-added services for insurers and policyholders. The company's commitment to innovation and strategic partnerships will be key drivers in achieving its future objectives.