SiriusPoint’s Life Reinsurance Team has partnered with insurance and healthcare technology platform WaterDrop; managing general agent and employee solutions provider Further Group; and China Pacific Health Insurance to launch a new medical insurance product, Blue Ocean LifeTime.

Headquartered in Bermuda, the global insurance and reinsurance underwriter has offices in New York, London, Stockholm, and other locations, and is listed on the New York Stock Exchange.

Blue Ocean LifeTime is aimed at the 200 million users of WaterDrop and seeks to provide Chinese policyholders with affordable access to state-of-the-art medical treatment from around the world.

The Blue Ocean LifeTime medical insurance policy includes overseas medical services to help users find advanced medical treatments, which is often difficult for policyholders to access directly.

These include provisions for overseas care and access to the latest advanced treatment for cancer, such as Boron Neutron Capture, a targeted form of radiation therapy.

Florian Boecker, SiriusPoint’s head of life reinsurance, attended a launch of Blue Ocean LifeTime in China, where he joined a panel to discuss its benefits.

Mr Boecker said: “Healthcare is advancing at an unprecedented speed and it can be difficult for the insurance industry and social security systems to keep up.

“Blue Ocean LifeTime is well-positioned to provide cover in this widening gap between what is medically possible and what is covered by other forms of insurance.

“Private medical insurance has now become an important part of the national healthcare system in China due to its comprehensive coverage and affordable price.

“It is great to partner with WaterDrop, Further Group and China Pacific Health Insurance to boost the insurance pool and to make accessing specialist treatments overseas that much easier for the policyholder.”