Aetna International has established an innovation hub for Asia, which is based in Singapore.

The innovation hub will focus on leveraging local expertise and customer feedback to develop tailored solutions for Asian markets, based on Aetna’s existing global product offerings.

Specifically aimed at local healthcare market needs in regional markets including Indonesia, Thailand, Vietnam, Philippines, Malaysia, China, Hong Kong and Singapore, Aetna said the bespoke solutions developed by the innovation hub will allow it to offer greater value and service to the local populations.

In turn, the health insurer said the initiative is expected to increase awareness of its products and expand its footprint in the region.

Ran Wang, Aetna’s regional product manager for Southeast Asia and Hong Kong, said:  “The Innovation Hub will help us translate Aetna’s vast healthcare expertise to markets in Asia and increase our reaction time to market developments in the region, making us more responsive to our clients’ needs.”

James Pisko, an actuary previously based in Aetna’s Hartford, Connecticut head office, who has recently relocated to Singapore to join the innovation hub team, said: “Developing an actuarial presence in the APAC market will help improve our analytical capabilities, allowing us to drive profitable growth and explore strategic initiatives.

“Additionally, this will better facilitate the transfer of knowledge from Aetna’s corporate actuarial Hub to the local teams to execute timely and accurate business decisions.”