SiriusPoint has introduced a new health insurance product to the Chinese market in partnership with Further, the insurance service provider.
The healthcare assistance product pays for the treatment costs of patients with specific cancers of the lymphatic system. It covers costs of up to 1 million RMB over the course of a year in the treatment of named lymphomas with the chimeric antigen receptor T-cell (CAR-T) drug Yescarta.
The product was launched as the first commercially available insurance cover for CAR-T therapy on July 1, within days of the treatment being approved by the Chinese regulator. Further provides concierge services as part of the offering.
Doctor Geoff Tothill, chief medical officer of SiriusPoint subsidiary International Medical Group (IMG), said: “CAR-T therapy is specifically developed for each individual patient and involves reprogramming the patient’s own immune system cells which are then used to target their cancer. With over 50 percent of all development efforts occurring in China, the country has been at the forefront of the development of CAR-T therapy, which continues to be refined and developed in China at an impressive rate.”
Kathy Xie, accident and health underwriter at SiriusPoint, said: “China has just welcomed its first commercial CAR-T therapy, which is a milestone for the development of the treatment. SiriusPoint aims to continue work, in partnership with Further, to upgrade and reform the product to best facilitate market and customer needs. The continued development of the Chinese health insurance industry is dependent on product innovation driven by collaboration across the healthcare ecosystem involving medical, pharmaceutical, insurance and service industries.”
Stuart Liddell, president of SiriusPoint’s life, accident and health business, said: “It has been a pleasure to collaborate with Further to address a gap in the market and make this insurance available to customers who are relying on our products to support them when they need it most.”
Yescarta is produced by pharmaceutical company Fosunkite Bio, which is a joint venture between Fosun Group and Kite Pharma.
SiriusPoint, Further, Geoff Tothill, Kathy Xie, Stuart Liddell, Cancer, Yescarta