IRIS HEALTH SERVICES LLC COMPANY PROFILE

2019

DUBAI - HO Unit 1004 & 1005, Level 10, Westburry Business Tower,

Business Bay, Dubai, 95158, UAE P:(+971) 4 8710 555 F: (+971) 4 8710 556

DUBAI - HO

Unit 1004 & 1005, Level 10, Westburry Business Tower,

Business Bay, Dubai, 95158, UAE P:(+971) 4 8710 555 F: (+971) 4 8710 556

www.iris.healthcare

ABU DHABI LT - 402, Liwa Tower, Embassy Area

Abu Dhabi, 752388, UAE P: (+971) 2 621 5513 F: (+971) 2 621 5514

ABU DHABI

LT - 402, Liwa Tower, Embassy Area Abu Dhabi, 752388, UAE

P: (+971) 2 621 5513 F: (+971) 2 621 5514

OMAN 205, Block 245, Way #4560 Building 5431/1, Bausher,

Muscat, Sultanate of Oman P: (+968) 2 459 3353 F: (+971) 2 450 7343

OMAN

205, Block 245, Way #4560 Building 5431/1, Bausher,

Muscat, Sultanate of Oman P: (+968) 2 459 3353 F: (+971) 2 450 7343

P a g e | 1 I R I S H E A L T H S E R V I C E S L L C

WHO WE ARE: An overview

IRIS Health Services is an award-winning health insurance third-party administrator (TPA). As a TPA, we

manage health insurance policies on behalf of insurance companies, businesses and individuals, liaising

with healthcare providers and policy holders to provide better access to medical care and ensure better

health outcomes for our members.

IRIS also manages specialized insurance needs for reinsurers, regulators and self-insured companies: for

example, we build and maintain provider networks, provide membership and customer care services in

addition to claims processing.

Since our 2014 launch, IRIS has grown exponentially: Today we serve more than 400,000 insured

members and 40,000 clients in the UAE alone from our corporate headquarters in Dubai and network

office in Abu Dhabi. We recently expanded into Oman and work with clients including leading insurance

and reinsurance companies in East Asia, the Indian subcontinent and Europe.

In the GCC, we are regulated by the Insurance Authority of UAE, Dubai Health Authority and Department

of Health, Abu Dhabi; and the Capital Markets Authority of Oman.

What sets us apart:

For us at IRIS, every member and every client matters.

For our risk carriers, we work hard to extend best practices in adjudication by integrating the latest technologies like AI and blockchain with experience and expertise. We help control insurance costs and protect from fraud, waste and abuse. We provide cost-effective solutions while delivering the best possible outcomes for those in their care. For our insured members, we drive ourselves to provide seamless, direct access to the best possible

healthcare and services. We invest in technologies like mobile apps to help and guide our insured

members with information at their fingertips. We also invest in their wellbeing with preventive initiatives

and on-time advice and support.

We achieve these goals through the strength of our team, by championing innovation, and by being

invested in the health of our community.

Our team is made up of more than 90 professionals who bring a wealth of experience and expertise and

share our ‘You Matter’ ethos. These specialists provide an individual, optimal approach for each client and

member, allowing us to manage our clients’ resources and our members’ health carefully and responsibly.

Our 24-hour multilingual call centre and in-house team of doctors, for example, are among those who

help us deliver on these goals.

Our innovation is most evident in two key areas: Our proprietary, cutting-edge software platform

Ezyclaim and our purpose-built, customizable mobile app.

P a g e | 2 I R I S H E A L T H S E R V I C E S L L C

The Ezyclaim online knowledge management suite is a game changer in health insurance claims circles. It

gives our clients the ability to monitor usage in real time, detect trends, monitor for fraud, review

performance and manage their portfolios with unparalleled efficiency and transparency.

Our free, bilingual IRIS Health mobile app is focused on the individual, providing instant access to his or

her electronic health record and policy benefits. IRIS members can use it to find nearby physicians,

hospitals, pharmacies and other providers in their network, set medicine alerts, and track

reimbursements.

The app, available for Android and iOS devices, is part of our investment in the health and wellbeing of

our community. Non-members also get access to most of the app’s functionality, including the ability to

maintain health records, set medicine alerts and access rewards.

Clients, members and the industry have recognized IRIS’ work and practices. In March 2019, IRIS

received the ‘Innovation of the Year’ award at the Etisalat SMB Awards in Dubai, the latest in a string of

accolades. Other recent awards include being named ‘Most Innovative Service Provider’ at the MENA

Insurance Review Awards 2018 and ‘Most Innovative Insurance Claims Software 2018’ from

International Finance magazine.

IRIS Health is also committed to sharing the best information, awareness and practices with the broader

community through a series of strategic initiatives across our media and social platforms and CSR

programs.

Together, our team, ethos, innovation and outreach provide an unparalleled claims management solution

and a better way forward for individual and community health and wellbeing.

P a g e | 3 I R I S H E A L T H S E R V I C E S L L C

CORPORATE SERVICES:

IRIS occupies a distinct role in the healthcare industry: We connect medical service providers,

policyholders, insurance companies and self-funded organizations under a mutually beneficial umbrella.

Our unique positioning also allows us to deliver quality industry insights and makes us a trusted partner

for several blue-chip organizations.

IRIS also specializes in a number of core but critical industry needs. For example, we assist: • Insurers exploring ways to more efficiently service their medical products,

• Reinsurers seeking markets for new product lines,

• Organisations seeking to control insurance costs through self-funding,

• Companies striving to enhance their current self-funding plan through more effective

administration and further cost containment measures, and

• Organisations seeking to review and audit claims through an independent expert

Why trust us:

Certified: As an ISO 9001:2015 certified company, our quality policy is “Quality through operational

excellence, team work and efficiency.” We are ISO 27001:2013 certified, conforming to the highest

standards of information security, data security and patient health information confidentiality.

IRIS has also adopted ISO 31000:2009 risk management guidelines, to better assess and manage risk and

maintain clear frameworks across our operations. Our commitment to social responsibility also means we

are ISO 26000 compliant.

Holistic: Our service offerings go beyond administrative support for healthcare products to span health

insurance product design, medical risk evaluation, medical management, medical service provider panel

(network) management, training and consulting services.

Experienced: IRIS’ sister companies in India and Singapore service more than 600,000 members in

complex and fast-changing markets. Our group capacity helps us improve how we process claims, develop

products, manage portfolios and protect our clients and partners against fraud, waste and abuse.

World-class: IRIS chose to pursue the Committee on Operating Rules for Information Exchange

(CORE®) PHASE I, II, III & IV Endorser Seal, an American standard that sets the bar for patient

confidentiality and data security. We are the only company in the GCC region to maintain the CORE

standard, demonstrating our commitment to invest in world-class standards and to safeguarding patient

data.

P a g e | 4 I R I S H E A L T H S E R V I C E S L L C

Trusted: Our third-party and audit services are trusted by prestigious clients including Oman Insurance

Company, RAK Insurance Company, Abu Dhabi National Insurance Company, Al Fujairah Insurance

Company, Dubai Islamic Insurance & Reinsurance Company (AMAN) and Union Insurance Company.

IRIS also works with leading reinsurers including syndicates at Lloyd’s of London and Peak Reinsurance.

Through our sister company IRIS Technologies, we have also provided medical claims financial audit

services to Lloyd’s of London.

LANDSCAPE

In a market where both health insurance penetration and medical needs are on the rise, IRIS works to

protect the interests of all our stakeholders across the health insurance ecosystem.

Outstanding customer service is the key to our operations. We ensure that all members of our ecosystem

– including insurance companies, reinsurance companies, self-insured clients, medical service providers

and insured individuals - are handled with care and understanding.

The IRIS difference also shines through in our administration and management services. We provide

strategic counsel and know-how to insurance companies, self-funding schemes and regulators – from

defining methodologies to designing, protecting, underwriting, distributing and managing healthcare

schemes.

We exist to create value for our customers and clients, and provide extraordinary services that make us

stand out in a crowded marketplace.

Our Mission

IRIS Health Services works to provide the best outcomes for our insured members, clients, partners and communities with the expertise of our team, tradition of innovation and commitment to health and wellbeing.

Our Vision

To be the preferred Claims Management partner across geographies.

Our Claim Philosophy

To use technology and knowledge wisely and carefully to provide efficient and considered claims

management services that benefit all our stakeholders

P a g e | 5 I R I S H E A L T H S E R V I C E S L L C

Evolution in Service Delivery

IRIS Health Services is focused on continuously improving our service levels. Innovation – using technology creatively and effectively – is only one part of our solution. Smarter and faster technology allows our human resources to work strategically. It ensures our people are equipped with quality information quickly to better serve our clients and members. Some of our innovative advances include: For the community: IRIS has been recognized for being the first to introduce the National ID of the United Arab Emirates, the Emirates ID, as the default medical insurance card. For physicians: IRIS offers a customized Physician Support Tool that helps doctors, nurses or designated insurance specialists assign appropriate and international-standard medical coding without the need for dedicated coders or coding knowledge. For insurance companies and health providers: IRIS is the first company in the medical insurance space to provide real-time patient and claim tracking at medical service providers through its smart platform Ezyclaim. Our independent Customer Service Centre also uses technology to maximize the effectiveness of its three teams:

Patient Voice, who obtain patient feedback and monitor the quality of services rendered by our

network providers

Provider Engagement, who focus on assessing and improving providers’ experience with IRIS

Cost Containment Unit, whose remit is to maximize savings for insurers, reinsurers, self-insured

corporates and policyholders without any compromise in the quality of care rendered to

beneficiaries.

Together, the three teams ensure our continuous development and improvement across operations.

Our Value Proposition

For Insureds

• One-stop shop

• Excellent customer service and quality administration

• Wide provider network

• Strong financial backing through local and international

partners

For Insurers and Reinsurers

• Excellent customer service and quality administration

• Wide provider network

• Cost containment and risk mitigation

• Audit services

For Providers

• Training of medical staff on health insurance plans and

processes on admission

• Reduced wait time with a fast internal authorization unit

• Increased public health awareness

• Increased patient volume, generating more revenue

• Short claim-submission-payment cycle

P a g e | 6 I R I S H E A L T H S E R V I C E S L L C

Key Success Factors

Our success relies on our dedication to five core pillars:

Provider Relations Experience and skill in building and sustaining strong, mutually

beneficial relationships with providers

Offering reliable services to healthcare providers

Effective negotiations with major hospitals, clinics, pharmacies and

laboratories.

Customer Service Providing quality and reliable services to customers, especially with

our local and multilingual 24/7 Call Centre, rapid response time and

consistency in administration.

Operational Excellence

Specialists in all matters of health insurance management including

policy administration services, claims handling and processing,

portfolio analysis, trend analysis, claims auditing, fraud and abuse

detection and handling.

Management

The IRIS management team represents an aggregation of more

than 100 years of experience in Health Insurance, TPA services,

financial services and management. Our corporate diversity – IRIS

staff represent different nationalities from across Asia, Africa and

the Middle East – and inclusiveness also means we are able to work

with and assist in any kind of environment.

Technology

In every sphere of our operations, IRIS is committed to improving

how we work and how our industry operates by using technology

to improve the quality, availability and responsiveness of care and

to maximize the resource efficiency of the healthcare ecosystem.

We develop intuitive, accessible, scalable and secure solutions that

work for regulators and individual policyholders alike, and train

those who need to know how best to use them. We champion

communication, participation and organization in the service of a

better integrated and beneficial system for all.

P a g e | 7 I R I S H E A L T H S E R V I C E S L L C

Management Team

FAREED LUTFI, CHAIRMAN OF THE BOARD

Mr. Lutfi is the Secretary General of the Emirates Insurance Association and Secretary General of the Gulf Insurance Association. He was earlier Group Director, Insurance Services at Dubai Holding and remains one of the best-known insurance personalities in the GCC. He previously served as General Advisor of Dubai Islamic Insurance and Reinsurance Co. and was Chief Executive Officer of Alliance Insurance in Dubai. Mr. Lutfi was a Founding Board Member and Advisor of Dubai International Financial Centre across the spectrum of insurance and reinsurance issues. He was also a member of the finance working group for the Dubai-United Kingdom Trade and Economic Committee (DUKTEC). Mr. Lutfi continues to work tirelessly as a powerful lobbyist for the cause of insurance and correct insurance practice across the UAE and the GCC.

MRS. LAILA AL JASSMI BOARD MEMBER Ms. Al Jassmi is the former CEO of Health Policy and Strategy sector at Dubai Health Authority (DHA). She was responsible for the development of the policy and legislation for the health system in the Emirate of Dubai driven from Dubai Strategic Plan (DSP) 2015.

She oversaw the implementation of the DHA health strategy and conducted sector planning and forecasting to ensure that Dubai develops a world-class healthcare system.

She has extensive knowledge of the healthcare systems, health reform, strategic direction, planning and delivery of healthcare services. She was leading the process of the Dubai health reform that took place in 2007.

Ms. Al Jassmi has led the Dubai medical tourism initiative which was started in 2012 to place Dubai on the world health tourism map.

She is a graduate of the College of Allied Health Science and Nursing in Kuwait University and in 2007 secured her Master’s in Executive Healthcare Administration from Zayed University in the UAE. She is a graduate of Sheikh Mohammed Bin Rashid Leadership Program 2003. She has been awarded certificates of appreciation including the Dubai Government Excellence Award (distinguished employee in 2009) and the Sheikh Rashid Award for Scientific Outstanding (2008). She was also awarded the Feigenbaum Excellence Leadership Award for Women Leaders in 2011.

P a g e | 8 I R I S H E A L T H S E R V I C E S L L C

ANIL NAIR CHIEF EXECUTIVE OFFICER & BOARD MEMBER A veteran of the health insurance industry, Anil has a deserved reputation for delivering innovative business strategies and client-focused solutions that improve margins. He brings more than 17 years of health insurance and insurance technology experience in the South Asian, Southeast Asian, Middle Eastern and European markets to his leadership of IRIS Health Services and IRIS Technologies. His expertise spans managed care services, IT service provision, consultancy services to insurers, reinsurers and TPAs and audit services to risk carriers including Lloyd’s of London. Anil also has more than two decades of experience across business verticals including the education and service industries. He has been recognized on multiple occasions for transforming global operations systems profitably and productively. His entrepreneurial spirit has enabled him to lead companies from start-up to profitability. A champion of discovering and nurturing human potential, Anil mobilizes top-tier talent to create high-performing cultures that consistently achieve in volatile markets. DR. ANN JACOB, MBBS, Dip CII (Claims), ANZIIF (Snr Assoc) CIP, Cert CII (Health & Protection), DIA, DHP, HIA, CMTP CHIEF OPERATING OFFICER & BOARD MEMBER

Dr. Ann Jacob has more than 12 years of experience in the insurance market in the Middle East and internationally. She is also a qualified medical doctor with four years of clinical experience in India and the United Kingdom. Her twin areas of expertise and practice allow IRIS to develop and finesse strategic products and processes that anticipate the needs of and deliver better outcomes for healthcare and insurance providers, regulators and insured members. A member of the Chartered Institute of Insurers, Dr. Ann’s areas of expertise include underwriting and claims management. Her specializations also include Disability Income Associate, Disability Healthcare Professional and Health Insurance Associate from the United States. She has the distinction of being one of the few members certified by the Medical Tourism Association for the Middle East and North Africa.