Amplify Health, a leading health AI platform and analytics company in Asia, has been honoured with the Technology Initiative Excellence Award at the Insurtech Connect Asia Awards, held on 4th June 2025. This recognition celebrates the company’s AI-driven solution that is addressing one of the most pressing challenges in Asia's health insurance industry – the lack of structured and well-coded digitised data on medical costs across healthcare providers. This issue has prevented healthcare payers from gaining an in-depth understanding of the medical cost drivers that are pricing out growing segments of the population.

To address this problem, Amplify Health’s solution transforms unstructured health claims data into clinically codified insights, particularly using Diagnosis Related Groups (DRGs). This gives insurers unprecedented visibility into hospital performance, cost efficiency, and fraud detection patterns, reshaping the way they manage medical costs and provider networks across Asian markets.

“Winning the ITC Asia Technology Initiative Excellence Award is a public recognition of the real-world impact of our solution within the region,” said Axel Baur, CEO of Amplify Health. “This recognition validates our efforts in leveraging technology to address inefficiencies in medical cost management while enabling greater access to affordable, quality healthcare.”

Health insurers across Asia have “long grappled with a lack of standardized and comparable health data, affecting their ability to handle increasing medical inflation,” Baur said. Insurers lack visibility over medical cost variations and precise data-driven insights on the market landscape; this has resulted in endless cycles of reactive policy repricing that may not best fit market needs.

 

Driving health data standardization in Asia

Amplify Health’s multi-layer solution begins with standardization of data and clinical nomenclature. After converting raw data into a standardized health data model, Amplify Health’s AI-powered Clinical Encoder automatically translates clinical free text into standardized clinical terminology.

Following clinical data enrichment, the application of clinical algorithms to group various clinical codes for chronic identification and hospital case classification (DRGs) facilitates medical cost comparison of like-for-like cases across providers, enabling an understanding of the relative value of similar healthcare services between peer hospitals.

One application of the capability is the creation of a select network of cost-efficient providers. By identifying a subset of such hospitals that insurers can direct their policyholders to, they are able to reduce expected claims costs. They can then offer a new network-based insurance plan with a lower cost premium, effectively increasing affordable access to quality healthcare.

“By integrating data insights into health insurance propositions, insurers can support the launch of health insurance plans with affordable cost premiums that serve wider population segments,” added Baur.

Amplify Health’s real-world impact is transforming health financing across Asia, leading to the enablement of strategic cost-savings initiatives. For example, its Clinical Encoder has led to operational efficiencies and time savings for insurers, by considerably reducing the manual work of identifying diagnoses and procedures – increasing time-to-value by 75% compared to manual extraction and codification of descriptions.  

In sum, Amplify Health’s solutions take insurers from fragmented data, a lack of visibility, and inefficient provider networks to standardized data-driven cost efficiencies, enhanced visibility, and efficient provider networks with lower unit costs.

 

Tackling healthcare inflation – for today and tomorrow

In addition to provider benchmarking and network steerage, the enhanced data and analytics capabilities have enabled insurers to expand use cases and drive other health risk management interventions, namely Fraud, Waste and Abuse (FWA) detection and population risk stratification. 

Amplify Health’s solutions also provide population-level insights on incidences of health conditions, medical service utilization, treatment adherence, and chronic disease progression, among others. Said Baur, “Insurers can now evolve their product offering through precise market intelligence of a scope that only Amplify Health’s regional platform can provide.”

Ultimately, Amplify Health is not just redefining the ways that insurers manage medical costs. The organisation is driving a paradigm shift from reactive health coverage pricing to data-driven medical cost containment, while protecting affordable, long-term access to quality medical care.

The ITC Asia Technology Initiative Excellence Award is an encouragement to “double down on our mission” to transform healthcare in Asia “by simplifying access to health data and AI innovations,” said Baur. “While we have showcased our innovative technology for health insurers, it’s just one prong of our founding vision of making healthcare in Asia more accessible, affordable and effective for years to come.”