EP 34 – Grace Park & Cole Sirucek – Founders at DocDoc – Nailing Jello to the Wall


Theresa is the founder of the Asia InsurTech Podcast and a Thought Leader on innovation in insurance in Asia. She has worked for ten years for leading multinational insurers in Europe and Asia before turning to management consulting and venture building with the goal of transforming the insurance industry and helping shape its future in the region.

Grace Park

Grace Park is a professional with 19 years of experience, 13 of which have been spent in Asia leading Fortune 500 pharmaceutical, medical device and digital health companies. Currently, Grace is the Co-Founder & President of DocDoc, the world's first patient intelligence company. Prior to DocDoc, Grace was the Managing Director of Medtronic ASEAN. Grace began her career as an Army officer after graduating from the US Military Academy at West Point and served for five years, leaving as a Captain. Grace has degrees from Harvard Business School and Harvard’s Kennedy School of Government.

Cole Sirucek

Cole Sirucek is an investor and entrepreneur with over 20 years of experience founding, investing into and otherwise supporting entrepreneurial ventures. He is currently the Co-Founder and CEO of DocDoc, the world’s first patient intelligence company. He is also a Venture Partner at Founders Equity Partners. Cole spent seven years in the direct investment team of Temasek Holdings where he successfully invested over US$500M in private equity direct and secondary transactions. Cole attended MIT, Sloan School of Management and Harvard’s Kennedy School of Government.

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In this episode, AIP founder Theresa Blissing visited the DocDoc office in Singapore and talked to the co-founders Grace Park and Cole Sirucek. Grace and Cole, a husband and wife team, share their very personal stories. When their daughter was three months old, her liver was failing and she required a rare liver surgery. This is when Cole and Grace experienced firsthand the lack of transparency in the healthcare system and how difficult it is even for well-connected professionals to find the right specialist. The experience also demonstrated that medical costs do not necessarily reflect the quality of care due to this lack of transparency. In the end, the couple paid 60% less than initially quoted and had the most experienced doctor in this field globally perform the procedure. This experience prompted the couple to start DocDoc in order to empower patients and assist them in finding the right care at the right time.

This was in 2012. Today DocDoc operates in 8 countries with more than 23,000 doctors under contract and has just raised USD 13 million to expand globally. Cole explains how DocDoc helps insurers to sell solutions to customers instead of traditional insurance coverage. In his opinion, the future of insurance is customer centricity and personalization, an area most insurers are struggling with. Partnerships with startups can help insurers design and offer personalized solutions which gives them a competitive advantage and helps them reach millennials that are often disconnected from traditional insurance products. 

Cole further explains how DocDoc works with insurers and what cost-saving opportunities they are offering beyond advanced customer solutions. Furthermore, finding the right doctor specialized in the right field helps to avoid costs resulting from complications. During the conversation, Cole stresses the importance of getting actuaries involved in the process of designing new insurance solutions. In his experience, if you do not have actuaries on your side, it doesn’t matter what the CEO wants. 

For more info on DocDoc, check out Rahul’s blog post that covers DocDoc and other Singaporean movers and shakers.

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