Leapstack (EN)

Leapstack provides big data and AI-enabled risk management solutions for health insurance companies in China. It focuses on intelligent claim management, risk management, and long-term care platforms. Leapstack uses RPA and AI technologies like predictive risk modeling and a knowledge graph to analyze medical, insurance, and population data and identify fraud. It has partnerships with many healthcare and insurance organizations and plans to expand its health management services.

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Leapstack (EN)

Uploaded by

Hung Phan

We take content rights seriously. If you suspect this is your content, claim it here.

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Download as PDF, TXT or read online on Scribd

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Leapstack provides big data and AI enabled risk management solutions for various

stakeholders in the health insurance industry.

1. Market overview
• Risk management as a core capability for insurance companies as the focus of insurance
regulations in China shifts from growth to prudence.
• Data is a key component in product design, risk management and business operations of
health insurance, which is one of the most fast growing niche areas in insurance.
• Risk management for health insurance is highly specialised. Both of technological
expertises and industry experience are required to succeed.
1. Data is siloed and not standardised in the healthcare industry.
2. A deep and wholistic understanding of various diseases, medicines, diagnosis
procedures and payment rules and regulations is needed to develop risk management
solutions for health insurance.
3. Health insurance risk management is highly complex with a wide variety of user cases
and stakeholders, posing significant challenges for its anti-fraud and claim management.

• There has been a surge of demand for insurance (especially health insurance) since the
outbreak of Covid-19, creating new challenges as well as opportunities for insurance and
other health management companies.
- A lack of data-driven result analysis and tracking.
- A lack of real innovations and personalised services.
- A lack of orchestrated health management solution among insuers and other participants.

2. Business model (2B)

• Leapstack is currently positioned as a risk management solution provider enabled by RPA
(Robotic Process Automation) and AI. It focused on the health insurance industry with its
well-trained risk management models and expertise in the industry.

It aims to integrate data in compulsory and commercial medical insurance systems, and
streamline the end-to-end process from insurance product design, underwriting, claim
management to customer services.

• Leapstack also provides intelligent risk management, fund management, auditing, anti-money
laundering services to social insurance management agencies, auditing companies and
banks and faciliates data-driven policy-making support for insurance regulators.

3. Product offering
Its product offerings include intelligent claim management platform for medical insurance,
intelligence risk management platform for medical insurance, long-term care management platform,
anti-money laundering platform, IFRS17 platform and others.

Two core technologies

1) RPA+AI risk management
Leapstack provides customized solutions on automatic operations, anti-fraud and anti-money
laundering solutions for different clients.

RPA + AI technologies enable Leapstack to identify risk events automatically without human
interferences. The system will continuously learn to improve its accuracy of its risk models and
their accuracy of predictions.

2) Knowledge graph
Leapstack has created various relational databases of medicines, diagosis, fees, population
and hospitals for the follows.
• More accurate claim management.
• More precise marketing with comprehensive understanding of user portrait, reducing adverse
selection and fraud activities.

Three major products / platforms

1) Intelligent claim management platform for health insurance
• Identify risk events with AI, big data and cloud computing technologies.
• Data-driven services –accurate medical fee management and claim management.

2) Intelligent risk management platform for state compulsory medical insuance

• Big data analytics platform for state compulsory medical insurance, which can identify irregular
diagnosis activities.

3) Intelligent long-term care management

• Multi-faceted user portrait with data from various sources to support various stakeholders, such
as policymakers, nursing homes, insurance companies and others.

4. Strategic partners
• Leapstack has established partnerships with 13 healthcare security administraters covering 60
cities, 59 insurance companies, 12 insurance agencies, 21 medical services agencies, 3
securities companies and 4 pharmaceutical companies.

5. How they have evolved over time?

Strategic positioning
• Currently positioned as risk management solution provider enabled by RPA + AI.
• Planning to provide more comprehensive personal health management services, so as to
reduce the claim rates for insurance companies and thus manage the risks for insurers and the
insured.

Busines expansion
• Currently headquartered in Beijing and Shanghai with branches in other cities in China,
including Nanjing, Hangzhou, Chengdu and others.
• Global operations center in HK established in 2019 with an additional office in HCMC, aiming
for regional expansion in Asia.
• After Series B fundaraising, it would accelerate its national expansion in China, strategic
partnership with companies in the insurance value chain so as to cement its leadership position
in health insurance risk management.

6. Team
• The team has rich and extensive experience in big data analytics with experience at leading
technology companies in Silicon Valley. The core team is experienced in technology, insurance
and medical services.
• Jason Gejie Liu, Co-founder and CEO of the business, earnt MSc Computer Science at Tufts
University and co-founded another medical big data company called Tenxor Tech with Jian
Guo, a professor at Harvard. He used to work at Telenav (NASDAQ: TNAV) as a senior
software engineer and was an alumni at CEIBS Entrepreneurship Camp.

7. Fundarising history
• 2016/7/8, angel round from investors such as Fomou Assets, Gaorong Capital, UpHonest
Capital and others
• 2017/8/25, Series A from Fumou, Danhua Capital, Gaorong, DCM and others
• 2019/7/8, Series B from FinVolution Group (P2P company) and Lingfeng Capital
• 2020/12/18, Series B+ from Huazhi Capital and GF Qianhe