Prenetics, is a technology driven life sciences company specializing in personalized healthcare. Their mission is to help people lead healthier, more active lives by empowering them with predictive and preventive treatments using the latest proven innovations in DNA technology, and leveraging the power of digital health to achieve tremendous impact and scale across Asia. They partner with leading insurers such as Prudential and Manulife to provide innovative preventive healthcare solutions to their policyholders.
The Digital Insurer Start Up InsurTech Asia Award
Technology has significantly changed our daily lives, from Uber to Spotify to Airbnb. However, when we think about technology, we don’t often associate it with healthcare or insurance. Particularly in Asia, the digitalization of healthcare and insurance lags far behind emerging trends that are already disrupting industry incumbents in the US. This is now all about to change as we enter into a new era of healthcare in Asia.
Prenetics is a healthcare technology company specializing in precision and personalized healthcare. Our mission is to help people lead healthier, more active lives by empowering them with predictive and preventive treatments using the latest proven innovations in DNA technology, and leveraging the power of digital health to achieve tremendous impact and scale across Asia.
Our Secret Sauce
Part of Prenetics’ “secret sauce” is our ability to understand deeply the opportunities and threats our insurer clients are faced with, leading us to create products that energize and invigorate the business while keeping policyholders healthy and happy. As a result of our efforts to create real, lasting value for our insurer clients, we are the first DNA-focused company to have signed large contracts with global players in Asia.
In July 2016, together with Prudential Corporation in Hong Kong, we launched a nation-wide campaign introducing our myDNA product within Prudential’s flagship policies. It is a show-stopping insurance product launch, with advertisements taken up across town over several months, and generating buzz throughout the industry in Hong Kong as well as overseas.
In March 2016, Prenetics announced a US$10 Million Series A strategic investment led by Ping An Ventures, the venture capital arm of Ping An Insurance Group, one of the largest insurance companies in the World. The strategic financing represents the first ever fundraising of a Hong Kong based company by Ping An Ventures.
Other investors include Indonesian Lippo Group backed Venturra Capital, Capital Union Investments and existing investors 500 Startups, COENT Venture Partners. Our investors are all strategic investors, with extensive ownership of and relationships with hospitals, clinics, and the healthcare industry in general.
For more details, please view: http://finance.yahoo.com/news/prenetics-raises-us-10m-strategic-010000262.html
iGenes Pharmacogenomics Test
Every year millions of people suffer from adverse drug reactions (ADRs) and 190,000 deaths alone in China are due to ADRs. Many of those fatalities can be avoided with a dose of technology that already exists.
Prenetics’ proprietary iGenes test helps medical professions and doctors prescribe medicine based on the patient’s unique genetic profile, leading to more effective results and lower risks of ADRs. iGenes helps insurers reduce costs while maximizing the quality of life of its policyholders.
iGenes is administered via a non-invasive cheek swab, and results are available within 48 hours. Patients can take their iGenes results anywhere with them via the iGenes mobile application, allowing them to maximize use of their results whichever doctor they choose to go to. In this way, Prenetics empowers patients and their care providers with valuable, portable information, taking them into the future of modern healthcare.
In April 2016, Manulife Hong Kong introduced iGenes into its leading ManuSilver product, becoming the first insurer in Hong Kong to provide a cutting edge pharmacogenomics product to its policyholders. For more details, please view:
myDNA Nutrigenomics Test
According to the World Health Organization, about 80% of coronary heart disease and cerebrovascular disease could be avoided by improvements in lifestyle such as healthier food consumption. At the same time, we know that our genetic makeup can have a dramatic impact on what happens when we eat certain foods. Providing people with scientifically based information on the relationship between their genes, environmental factors and eating/ lifestyle behaviors will allow people to achieve better health and wellness outcomes.
Prenetics has created the industry’s first nutrigenomics-based mobile health coach, called “myDNA”.
In this test, we analyze over 50 biomarkers, and provides powerful information that helps customer to understand how genetics affects diet, nutrition and exercise. The product includes: (a) a personalized myDNA diet, nutrition and fitness report (40+ pages), (b) a mobile application with personalized meal recommendations, every single day, and (c) access to dietitians who can help guide them through the best choices they can make for their health.
We launched this innovative product with Prudential Hong Kong in July 2016, making them the first insurance company to provide its customers with an innovative DNA-based health and nutrition product. For more details, please view: http://www.prudential.com.hk/scws/pages/en/about/press-release/2016/prudential-unveils-exclusive-dna-based-health-and-nutrition-programme-in-hong-kong/index.html?backUrl=../index.html?pageId=1&year=2016
Having celebrated 2 key product launches with major global insurers and closing an oversubscribed Series A backed by strategic insurance and healthcare partners in 2016, we believe Prenetics deserves to receive “The Digital Insurer Start Up InsurTech Asia Award”.
We will continue to innovate and tailor-make products that will enhance the relationship the insurance companies have with their policyholders, empowering policyholders with predictive, preventive and personalized products and services. We aim to achieve even greater scale, to impact the lives of millions of people in Asia.