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PR Newswire

The impact of digitalisation on global trade debated in Atradius live virtual event

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– One of the clearest business trends identified during the pandemic has been the acceleration of digitalisation

– Atradius asks a panel of experts how technology-driven innovation is currently impacting global trade and how businesses can make the most of future opportunities

AMSTERDAM, April 27, 2021 — Recent reports from the OECD and World Economic Forum show that digitalisation throughout the world has accelerated during the pandemic. In the third of a popular series of four webinars "From crisis to opportunity: What’s the future of trade?" leading credit insurer, Atradius, has drawn together a panel of experts to debate the major trends in digitalisation and the impact these may have on trade. Areas the panel will discuss include how digitalisation is transforming business trade models, impacting customer relations and trust, and disrupting traditional approaches to credit management. Is world trade in a digital bubble and how can businesses maximise opportunities?

The panel includes technology journalist, David Rowan, a founding editor of WIRED’s UK edition and an enthusiastic investor in tech start-ups. He interviewed a multitude of businesses for his most recent book, Non-Bullshit Innovations: Radical Ideas from the World’s Smartest Minds. Joining David on the panel is Jean-Marc Noel, co-founder and CEO of Trusted Shops. His company is one of the leading providers of confidence-boosting measures, including buyer protection and customer review options for online retail consumers (e-commerce) Trusted Shops is Europe’s market leader, with more than 30,000 online shops carrying the trust mark. The third panel member is Frederic Wittemans. As the Executive Director International Credit at the world’s largest IT distributor, Ingram Micro, there is not much that Frederic does not know about digitalisation. Ingram Micro offers B2B solutions in technology ecosystems, supporting businesses to better understand and utilise technology offerings across the full lifecycle of IT solutions and services. 

Joining the panellists is Dirk Hagener, Atradius Director of Strategy and Corporate Development, and a leader in digital change management for Atradius. He said: "This is a very timely event. Digitalization has completely transformed businesses and the way they work and trade. And, as we have seen in some sectors, the pandemic has acted as an accelerator for this trend. This webinar gives us the opportunity to explore what this digitally advanced trade landscape looks like, and how this is likely to further evolve. This is an area that Atradius understands and is continuously investing in, in order to provide the best levels of support for our customers. I am delighted to have been invited to take part in the panel and I am looking forward to a fascinating and insightful event."

Details of the event:

  • Title: The impact of digitalisation on trade
    Date: Wednesday, 5 May 2021
  • Time: 09:00 CET Amsterdam / 15:00 HKT Hong Kong
    Duration: 45 minutes panel discussion, followed by 15 minutes live Q&A

To learn more or to register for the event, please go to the Atradius Website at https://bit.ly/32EYvOp

A recording of the panel event and a white paper will be made available following broadcast.
Download your copy of the white papers about our previous virtual events
White paper Event #1: How Covid-19 changed global trade forever
White paper Event #2: How trade relationships and tariffs are affecting trade worldwide

About Atradius
Atradius is a global provider of credit insurance, bonding and surety, collections and information services, with a strategic presence in over 50 countries. The products offered by Atradius protect companies around the world against the default risks associated with selling goods and services on credit. Atradius is a member of Grupo Catalana Occidente (GCO.MC), one of the largest insurers in Spain and one of the largest credit insurers in the world. You can find more information online at https://group.atradius.com

For further information:
Atradius Head Office           
Christine Gerryn
Director of Group Communication & Commercial Development
Phone: +31-20-553-2047
E-mail: christine.gerryn@atradius.com
https://group.atradius.com

Connect with Atradius on Social Media

PR Newswire

Appian Congratulates CNA for Celent 2021 Model Insurer Award Win

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Appian-based CNA ComPass™ solution recognized for excellence in Legacy and Ecosystem Transformation

McLEAN, Va., April 26, 2021 — Appian (NASDAQ: APPN) celebrates the Celent 2021 Model Insurer Award given to Appian customer CNA. CNA was recognized in the Legacy and Ecosystem Transformation category for its work on CNA ComPass™, a comprehensive solution that helps streamline international insurance program implementation.

The Appian Connected Claims solution
The Appian Connected Claims solution

Built on the Appian Low-code Automation Platform, CNA ComPass™ improves collaboration and visibility across CNA’s global network, helping to efficiently manage end-to-end processes, reduce multiple full-time-equivalent (FTE) person hours, as well as decrease the time required for policy underlyer request creation.

"CNA ComPass™ provides greater transparency and ease of use through real-time data and reduced manual effort, regardless of geographic location," said Kathleen Ellis, Senior Vice President at CNA International. "We are proud of this technology advancement and thankful for this recognition, as CNA is committed to driving innovation across the insurance industry."

Michael Heffner, Vice President, Solutions and Industry Go To Market at Appian, said, "CNA ComPass™ is a prime example of how low-code automation delivers game-changing results for the insurance industry. We congratulate CNA on their achievement, and we look forward to CNA having even more success with the Appian platform in the future."

Celent Model Insurer is awarded for best practices of technology usage in different areas critical to success in insurance, and is the main award that an insurance carrier can receive from Celent. It is an annual program, celebrating its 15th anniversary in 2021. To learn more about CNA’s award-winning solution, view Celent’s CNA case study here.

About Appian

Appian helps organizations build apps and workflows rapidly, with a low-code automation platform. Combining people, technologies, and data in a single workflow, Appian can help companies maximize their resources and improve business results. Many of the world’s largest organizations use Appian applications to improve customer experience, achieve operational excellence, and simplify global risk management and compliance. To learn more, visit www.appian.com.

 

 

Photo – https://techent.tv/wp-content/uploads/2021/04/appian-congratulates-cna-for-celent-2021-model-insurer-award-win.jpg 
Logo – https://mma.prnasia.com/media2/1488235/Appian_Logo.jpg?p=medium600    

Related Links :

http://www.appian.com/

PR Newswire

bolttech expands Samsung Care+ partnership to Malaysia

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The device protection partnership is now available in 7 markets in Asia

KUALA LUMPUR, Malaysia, April 23, 2021 — International insurtech, bolttech, today announced it has expanded its device protection partnership with Samsung to Malaysia. The partnership delivers mobile device repair services to the owners of new Samsung Galaxy smartphones and tablets through the Samsung Care+ programme.

Malaysia marks the seventh market in Asia for bolttech’s partnership with Samsung and the fifth in Southeast Asia, following similar arrangements in Hong Kong, Indonesia, Philippines, Thailand, Vietnam, and Taiwan over the last two years.

Through the Samsung Care+ programme, bolttech aims to help customers protect their Samsung Galaxy devices against accidental physical, liquid breakage or mechanical breakdown for up to 2 years. The device protection plans also cover repair costs up to twice the value of the device’s purchase price[1].

Mark Simmons, Chief Executive Officer of Device Protection, bolttech, said, "We are excited to continue building our device protection partnership with global smartphone leader Samsung in Malaysia, following the success of this offering in six other markets. We hope with this latest partnership, Samsung customers in Malaysia can continue to stay connected by leveraging our next-generation device protection solutions."

KM Liew, Head of IT & Mobile Business, Samsung Malaysia Electronics said, "We are pleased to partner with bolttech on our Samsung Care+ programme in Malaysia. With Samsung Care+, our customers have peace of mind and are supported when the unexpected happens with their newly purchased Samsung device. The plan also includes a premium service that offers free doorstep pick-up and delivery, reducing the hassle our customers face when finding time to bring in their device for repair."

More information about the Samsung Care+ programme in Malaysia can be found here: https://www.samsung.com/my/offer/samsung-care-plus/  

[1] Terms and conditions apply. For details, visit: https://www.samsung.com/my/offer/samsung-care-plus

About bolttech

bolttech is an international insurtech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. With a full suite of digital and data-driven capabilities, bolttech powers connections between insurers, distributors, and customers to make it easier and more efficient to buy and sell insurance and protection products.

A part of Pacific Century Group, bolttech operates in 14 markets across Asia, Europe, and the United States.

For more information, please visit www.bolttech.io.

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at http://news.samsung.com.

Related Links :

http://www.bolttech.io

PR Newswire

Gibraltar BSN Launches Live Chat for Real-Time Customer Service

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KUALA LUMPUR, Malaysia, Jan. 12, 2021 — Gibraltar BSN Life Berhad ("Gibraltar BSN") today launched a live chat service on its corporate website to provide immediate and personalised support to its customers.

CEO Rangam Bir answering a customer’s query on the live chat From left to right: Susan Ong - Chief Marketing Officer, Gibraltar BSN Life Berhad; Chua Kim Soon - Chief Operations Officer, Gibraltar BSN Life Berhad; Rangam Bir - President & Chief Executive Officer, Gibraltar BSN Life Berhad; Lee Kok Wah - Chief Financial Officer, Gibraltar BSN Life Berhad
CEO Rangam Bir answering a customer’s query on the live chat From left to right: Susan Ong – Chief Marketing Officer, Gibraltar BSN Life Berhad; Chua Kim Soon – Chief Operations Officer, Gibraltar BSN Life Berhad; Rangam Bir – President & Chief Executive Officer, Gibraltar BSN Life Berhad; Lee Kok Wah – Chief Financial Officer, Gibraltar BSN Life Berhad

The live chat is available during operating hours and enables customers to obtain real-time information on their policies, latest products, and other pertinent information directly from a Customer Care Representative.

President and Chief Executive Officer Rangam Bir said, "We are pleased to elevate our customer experience with the launch of our live chat. Our data insights demonstrate that today’s customers prefer digital communication and the live chat allows us to seamlessly connect with customers in real-time while delivering quality service."

The launch of the live chat complements the life insurer’s other customer touchpoints such as its customer service call centre and GINA (Gibraltar INtelligent Assistant), an automated Chatbot providing instant customer service on WhatsApp 24-7. 

Bir added, "Our customers’ strong response to the launch of our digital initiatives supports our belief that going fully digital is the way forward. Today, almost all of our customer communication is paperless, 96% of premium payments are made digitally, and over 85% of policies are delivered digitally on WhatsApp. We will be advancing to an AI Chatbot in the near future and will continue leveraging digital to deliver superior customer service, increase customer engagement, and strengthen brand loyalty."

In light of its digital accomplishments such as the introduction of the country’s first WhatsApp e-Policy delivery system and partnership with Boost Malaysia to allow premium payments via Boost’s mobile e-wallet app, Gibraltar BSN was named Malaysia’s Digital Insurer of the Year by regional insurance publication InsuranceAsia News in 2019.

For more information please visit: www.gibraltarbsn.com 

For more information, please contact:

Sharie Elina Ibrahim

Brandon Luke Valladares

Head, Corporate Communications

Sr. Executive, Corporate Communications

Tel      : (03) 2298 2038

Tel     : (03) 2298 2039

Email : sharie.ibrahim@gibraltarbsn.com

Email : brandon.valladares@gibraltarbsn.com

 

Related Links :

http://www.gibraltarbsn.com

PR Newswire

Huize Announces 2020 Third Quarter Results

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GWP and Total Operating Revenue Achieved Double-Digit YOY Growth

Hitting Record Quarterly Highs 

Results Highlights:

  • GWP facilitated on our platform increased by 41.2% to a record quarterly high of RMB779.0 million, compared to RMB551.8 million in the third quarter of 2019.
  • Total operating revenue increased by 22.9% to a record quarterly high of RMB348.5 million (US$51.3 million), compared to RMB283.6 million in the third quarter of 2019.
  • GWP of long-term life and health insurance products accounted for approximately 92.9% of total GWP facilitated, compared to 87.5% in the third quarter of 2019.
  • Cumulative number of insurance clients served was approximately 6.7 million, and cumulative number of insured clients was approximately 56.0 million as of September 30, 2020.
  • Net profit was RMB14.7 million (US$2.2 million). Non-GAAP net profit1 was RMB20.4 million (US$3.0 million).

HONG KONG, Nov. 20, 2020 — Huize Holding Limited ("Huize" or the "Company", NASDAQ: HUIZ), a leading independent online insurance product and service platform in China, is pleased to announce its unaudited financial results for the three months ended September 30, 2020 (the "third quarter of 2020" or the "Period").

For the third quarter of 2020, the Company achieved double-digit year-over-year growth in both total Gross Written Premiums ("GWP") and total operating revenue, hitting record quarterly highs. Total GWP facilitated on the Company’s platform increased by 41.2% year over year to RMB779.0 million, while total operating revenue increased by 22.9% year over year to RMB348.5 million, once again exceeding the high end of its previously announced guidance range. Net profit in the Period was RMB14.7 million (US$2.2 million) and Non-GAAP net profit was RMB20.4 million (US$3.0 million).

During the third quarter of 2020, Huize’s long-term life and health GWP accounted for 92.9% of total GWP, a ratio which has stayed above 90% for the past four consecutive quarters. At the same time, GWP for long-term health insurance increased by 47.1% year over year to RMB649 million. Such increases also prove that the strategy of developing long-term insurance products and services has become the most important driver of the strong growth in the Period. On the one hand, long-term insurance products generate recurring revenues via policy renewals. On the other hand, the long-term product focus enable Huize to form more longstanding relationships with clients and cultivate better client loyalty. Its persistency ratio for long-term life and health insurance in the 13th and 25th months of the policy remained stable at 94%, a relatively high level in the industry.

As a pioneering insurance e-commerce platform in China, the Company has accumulated a massive amount of multi-dimensional client data and transaction data over the past 14 years. By harnessing its superior data resources, Huize has been able to develop more comprehensive client portraits, employ more precise risk management practices, and deepen its understanding of client-specific insurance needs, product design mechanisms, and risk-adjusted pricing to provide clients with more valuable and customized insurance products. For example, Huize officially launched a critical illness insurance product referred to as the "Darwin 3". Soon after its launch, this product became exceedingly popular.

Beyond financial and operational growth, Huize’s industry value and positioning also continued to gain recognition in the third quarter of 2020. In September, Huize was included in Hurun’s "China Digital Insurance Agencies 2020" list, wherein it was ranked fourth in terms of market performance and innovation capabilities. Moreover, in September, "Darwin 3" won the "Popular Health Insurance Product of 2020" award, marking the sixth time that the "Darwin" critical illness series of insurance products has won such an award in the industry.

Additionally, the Company has always valued strategy planning on technology innovation and digital transformation, the research and development expenses in the third quarter of 2020 increased by RMB3.4 million or 41.7%, to RMB11.5 million (US$1.7 million) from RMB8.1 million in the same period of 2019.

Mr. Cunjun Ma, Founder, Chairman and Chief Executive Officer of Huize, commented: "The solid financial results further demonstrating the viability of our business model and our strategic focus on developing first-rate digital capabilities in providing quality long-term insurance solutions to our users. Looking ahead, as many of the insurance clients we have served come from families in first and second tier cities with high customer lifetime value potential, we will be rolling out offline service centers in select first and second tier cities in order to better serve their differentiated demands for higher-quality products and premium insurance services. Over the next three years, we will take the opportunity to invest in a comprehensive strategic upgrade for the core Huize platform as we evolve into the post-COVID era where consumers demand further innovation in insurance products and digital transformation of the insurance purchase and service experience, by targeting to build an insurance product and service cloud platform incorporating core technologies such as cloud computing, big data analytics and artificial intelligence, to reach insurance clients in all scenarios and provide them with a fuller range of personalized insurance products and services throughout their entire life cycle more efficiently."

About Huize Holding Limited (HUIZ.US):

Huize Holding Limited is a leading independent online insurance product and service platform in China. Targeting the younger generation, Huize is dedicated to serving its insurance clients for their life-long insurance needs. Leveraging its online platform, Huize offers a wide variety of insurance products with a focus on long-term life and health insurance products, and empowers its insurer partners to reach a large fragmented client base in the insurance retail market efficiently and enhance their insurance sales. Huize provides insurance clients with digitalized insurance experience and services, including suitable product recommendations, consulting service, intelligent underwriting and assistance in claim application and settlement, which significantly improve transaction experience.

For further information, please refer to Huize’s website at
http://ir.huize.com

Related Links :

http://ir.huize.com

PR Newswire

AIA Thailand Partners with Vymo to Strengthen its Partner Distribution Channel

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– With Vymo’s Partner Relation Management platform, the AIA Bancassurance team, is able to closely support their National Sales Heads and Business Development Managers to optimise engagement activities with their bank partner.

SINGAPORE, Oct. 9, 2020 — Today, Vymo (www.getvymo.com), the Distribution Excellence Cloud for Financial Services, announced that it has partnered with AIA Thailand to improve distribution engagement and sales support effectiveness of their partner channels in Thailand to increase positive engagement at the front-line and improve customer propositions. With Vymo, AIA Thailand’s Bancassurance team will have daily end-to-end visibility of the activities required to deliver a positive and sustainable support infrastructure.


AIA Thailand is the largest insurance company in terms of market share1, approximately 1 out every 3 life insurance policies in Thailand is written by AIA2. With Vymo’s intelligent Partner Relationship Management platform, AIA Thailand will be able to monitor how sales support activities are impacting revenue outcomes and improve the quality of partner engagement. Over 300+ Relationship Managers Business Development Executives across Thailand will be using Vymo to make their engagement with their partner distribution networks more efficient.

Speaking on the partnership, Darren Thomson, Chief Strategic Bancassurance Alliance Officer, AIA Thailand, says "Vymo was able to prove, through other interactions with AIA and testimonials to the like, that the company is physically and morally capable of doing an efficient job."

"We are thrilled to partner with AIA in Thailand and are committed to set new benchmarks of sales productivity in the region. Our partnership with the largest insurer of Thailand further validates our efforts to provide the best sales solutions to our customers," adds Anurag Srivastava, GM – Asia Pacific & Japan.

Vymo has witnessed rapid growth across the Asia-Pacific region. In India, Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture by Tata Sons Ltd. and AIA Group Ltd. (AIA), deployed Vymo in 2019 to improve partner network health and brand coverage. Vymo helps sales managers to optimize the top of the funnel by allocating the leads to the most appropriate agent and nudge timely engagements to improve conversions per agent and reduce customer turnaround times.

Remarks:

1 Information based on Insurance Statistics, March 2020, by the Thai Life Assurance Association.

2 Information based on a report by the Thai Life Assurance Association, Annual Statistics 2018.

About AIA Group

AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, the Philippines, South Korea, Taiwan (China), Vietnam, Brunei, Macau SAR(2), New Zealand, a 99 percent subsidiary in Sri Lanka, and a 49 percent joint venture in India. 

About Vymo

Vymo (getvymo.com) is the distribution excellence cloud for financial services, trusted by over 100,000 salespeople across 60+ financial enterprises across the world. Global leaders such as AIA, AXA, Sunlife, Generali, Allianz, and more trust Vymo to improve sales and distribution efficiencies. Vymo is recognized by Gartner as a Cool Vendor and is funded by Emergence Capital and Sequoia Capital. 

Related Links

Vymo for Bancassurance – https://getvymo.com/partner-management/
Watch Vymo in action – https://youtu.be/DOFdcK8cUxw
Upcoming events & webinars – https://getvymo.com/whats-happening/
Logo – https://goo.gl/i6sEpi 

For more information:
Gunjan Saha
gunjan@getvymo.com

Photo: https://techent.tv/wp-content/uploads/2020/10/aia-thailand-partners-with-vymo-to-strengthen-its-partner-distribution-channel.jpg
Logo: https://techent.tv/wp-content/uploads/2020/10/aia-thailand-partners-with-vymo-to-strengthen-its-partner-distribution-channel-2.jpg

 

PR Newswire

Aon urges the re/insurance industry to bring capital closer to clients’ needs as the firm launches its Virtual Reinsurance Renewal Season

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Virtual event launches with former Danish Prime Minister Helle Thorning-Schmidt interview

LONDON, Aug. 18, 2020 — Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, today launches its Virtual Reinsurance Renewal Season, calling for the re/insurance industry to collaborate to bring capital closer to clients’ needs and drive growth across the global insurance ecosystem.

Andy Marcell, CEO of Aon’s Reinsurance Solutions business, said: "In an uncertain global economy, one thing is clear – reinsurance has never been more important as a strategic tool for client success. We are committed to collaborating with insurers and markets towards the 1st January renewals to help clients protect people and assets, strengthen their balance sheets and make better business decisions that reduce volatility."

While many of Aon’s insurer clients will continue to interact with broking, analytics and claims teams through virtual meetings, Aon’s Virtual Reinsurance Renewal Season platform aims to capture the conference experience with:

  • latest insights on market dynamics and the impact of the novel coronavirus (COVID-19) pandemic
  • innovation labs
  • newsroom
  • fireside chats with C-Suite leaders

Andy Marcell added: "The goal of the fireside chats is to drive growth across the re/insurance industry in order to bring capital closer to clients’ needs and enable them to flourish in a stronger economy." Hosted by Aon CEO Greg Case, Aon President Eric Andersen, Global Chairman of Aon’s Reinsurance Solutions business Dominic Christian, and Andy Marcell, the series will discuss the challenges and opportunities facing major re/insurers and insurance buyers, sharing both perspectives.  

The guests for the fireside chats include:

  • Helle Thorning-Schmidt, former Danish Prime Minister and Andy Marcell, Aon – 2nd September
  • Moses Ojeisekhoba, Swiss Re and Andy Marcell, Aon – 17th September
  • John Keogh, Chubb and Eric Andersen, Aon – 30th September
  • John Neal, Lloyd’s and Dominic Christian, Aon – 7th October
  • Franz Hahn, Peak Re and Dominic Christian, Aon – 13th October
  • Steve Wilder, Disney and Andy Marcell, Aon – 21st October
  • Thomas Buberl, AXA and Greg Case, Aon – 28th October
  • Richie Whitt, Markel and Andy Marcell, Aon – 4th November

About Aon
Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

Follow Aon on Twitter and LinkedIn 
Stay up to date by visiting the Aon Newsroom and hear from Aon’s expert advisors in The One Brief.
Sign up for News Alerts here     

Media Contacts
Alexandra Lewis
+44 (0) 207 086 0541
alexandra.lewis@aon.com  

Andrew Wragg
+44 (0)207 522 8183
andrew.wragg@aon.com 

David Bogg
+44 (0) 207 522 4016 
david.bogg@aon.com

Logo – https://techent.tv/wp-content/uploads/2020/08/aon-urges-the-re-insurance-industry-to-bring-capital-closer-to-clients-needs-as-the-firm-launches-its-virtual-reinsurance-renewal-season.jpg

Related Links :

http://www.aon.com

PR Newswire

eBaoCloud InsureMO Accelerates Insurance Customer Growth on AWS

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Over the last year, Aegon Life has strengthened its position as a digital insurer by leveraging eBaoCloud’s InsureMO on AWS to gain speed and agility

NEW YORK, July 30, 2020 — eBaoTech Corporation (eBaoTech), a global leader in digital insurance solutions, announced that Aegon Life has joined more than 10 new clients across the US, Brazil, India, Botswana, Philippines, Indonesia, and Singapore – ranging from insurance carriers, insurtech startups, and digital channel partners – that have turned to InsureMO™ on Amazon Web Services (AWS) for increased agility and innovation, including faster product launches and new channel integrations.

Aegon Life India chose InsureMO on AWS, to help extend investments in core systems without wholesale replacement of those systems. Core systems are often a barrier to digital innovation, new products across new channels delivering a better user experience, and replacing them is often too costly and time consuming. eBaoCloud InsureMO provides an API-based modernization layer around core systems that enables configuration of new insurance policy types, integration to new channels and partners, and rapid development and deployment of new products with low launch costs that drive new policy volumes at scale. For example, Aegon Life was able to launch its group platform with an eCommerce company within six weeks, which otherwise would have taken months.

Additional benefits for Aegon Life include:

  • Multiple lines of businesses running off a single platform enabled by InsureMO
  • API support for distribution partners willing to do servicing beyond just sales (making Aegon Life one of a few carriers capable of providing this type of support)
  • Shortening new product launches from months to 2-3 weeks
  • Launching new insurance plans for affinity partners in less than a day
  • Reducing the partner onboarding process from weeks to 1-3 days

All of these benefits are enabled by the scale, resiliency, and agility AWS offers.

eBaoCloud® InsureMO™ platform is based on a microservices architecture and contains common APIs needed to manage the whole lifecycle of General (P&C), Life, and Health insurance policies. This includes quotation, illustration, underwriting, payment, and claims. The platform can seamlessly integrate with external applications and services such as Optical Character Recognition (OCR), voice recognition, payment, and location by API calls. InsureMO also supports third parties to develop APIs and register on InsureMO. The availability of templates enables product configuration and speed. Currently, over 3,000 products templates from over 120 insurance companies across more than 10 countries have been configured on eBaoCloud InsureMO.

“The term ‘Digital Transformation’ in insurance is no longer about just replacing your legacy core with a modern core system. The need is to package and launch products in matter of days and connect to multiple channels. eBaoCloud’s  InsureMO platform solves the same problem with the ‘3V‘ proposition (massive Volume, Velocity and Variation) without waiting for legacy core replacements and driving API-led connectivity to enable any insurance scenarios from Life, General, Group, and Health,”  Rajat Sharma, Corporate VP and Head of Sales and Strategy commented, “We are very excited to work with AWS and rely on them, with the broadest global presence, to quickly roll out InsureMO during this critical industry revolution era.”

InsureMO’s first client in India, Douglas Kennedy, Chief Technology Officer, Aegon Life Insurance said, “We are delighted to be included in the first wave of partnerships for eBaoCloud InsureMO on AWS in India. This association will help us continue to be the differentiators in the industry and achieve greater speed to market and speed to value. The first launch of our group platform with an eCommerce player was achieved within six weeks of signing our partnership with eBaoTech demonstrating by having the right teams, right architecture, right vision you can run at great speed.”

Ralph Severini, Global Strategy Lead, AWS Insurance Independent Software Vendors, Amazon Web Services, Inc. said, “AWS is delighted to support eBaoTech as they leverage the agility and scale of the cloud to bring new and innovative products to market faster with the goal of providing richer experiences for their customers. AWS’s collaboration with eBao provides Aegon Life with the foundation to achieve accelerated growth at scale and support expedited policy delivery, which their customers have come to expect.”

eBaoTech holds AWS Financial Services Competency status and is an Advanced Technology Partner in the AWS Partner Network (APN). Achieving the AWS Financial Services Competency differentiates eBaoTech as an APN member that possesses deep industry expertise, solutions designed with AWS architectural best practices, and staff with AWS certifications. APN Partners are vetted, validated, and verified against a high bar to achieve the AWS Competency designation.

Watch an online video about Aegon Life Insurance Company CTO sharing the success story at https://vimeo.com/442616376

About eBaoTech
eBaoTech is a digital solution provider to the global insurance industry and our mission is to “make insurance easy”. We do business in more than 30 countries globally, serving over 200 carriers and numerous agents, brokers, insurTech’s and others in the insurance ecosystem. Digital insurance is the coming wave and the insurance industry is moving into the API economy. eBaoTech provides solutions and services that enable digital insurance.

eBaoTech has been dedicated to insurtech innovation since its founding in 2000. In 2001, eBaoTech developed the world’s first browser/server-based insurance core system suite, leading the advent and adoption of Java-based 3G insurance IT. In 2015 eBaoTech launched the world’s first distributed, cloud-native and microservices based 4G insurance platform that provides a complete set of insurance APIs across an insurance policy’s full lifecycle. eBaoTech offers a cloud based solution that enables digital insurance and enterprise level core system insurance software. We make insurance easy.

eBaoTech Digital Solutions

eBao Cloud is a family of products based on open API insurance platform that provides real time connectivity and transactional capabilities to insurers, traditional channel partners, affinity partners, and insurTech startups. eBao Software includes core system suites for Life, P&C, and Health Insurers as well Re-Insurers. More information, please visit www.ebaotech.com.

Related Links :

http://www.ebaotech.com

PR Newswire

YAS Empowers Insurtech with Disruptive Innovations for the Future and Beyond Reshaping the Insurance Industry with a New Ecosystem and Business Model

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HONG KONG, July 24, 2020 — YAS Digital Limited (YDL), the Hong Kong-based regional insurtech venture, today unveiled Hong Kong’s first microinsurance marketplace – YAS, which utilizes innovative technologies such as 5G, AI, blockchain, data analytics, and open API, to reshape the insurance industry while creating an unprecedented ecosystem and business model for both B2B and B2C customers.

YAS Team Photo
YAS Team Photo

 

 

YDL is the first insurtech venture in Hong Kong to employ YAS – a brand-new microinsurance marketplace that functions like an app store, empowering insurers with open APIs ready to plug and play in accordance with growing trends within the on-demand economy. Utilizing a customer-centric open marketplace that offers a diverse and affordable range of products tailored to the customer’s needs, YAS provides a digital customer experience beyond protection in every step of their daily lives.

With YAS’ smart technologies, the first of its kind offerings are actualized. The YAS GPS Automated Insurance will be made to provide seamless protection to customers when they are on the move. For example: YAS will use location based technology to map out all hiking trails. If the customer decides to use the auto-on feature within the app, insurance coverage will automatically turn ON when the user is on the trail and turn OFF when the user leaves the trail. This GPS enabled protection experience will also apply to golf courses, tennis courts, theme parks, public transportation and more. In addition, the introduction of 5G technology will put telehealth at the customer’s fingertips – instant access to a virtual assistant during emergencies or real-time video streaming to a doctor from their home country while traveling will all be achievable.

The deep machine learning technology of YAS creates a new tech-centric ecosystem for B2B and B2C customers, meeting customer preferences and uplifting customer loyalty. Through joint voting and dynamic pricing, YAS provides desirable cost-effective alternatives for customers over full-fledged insurance coverage.

In addition to its inherent novelty, YAS provides ease of mind to all users in data privacy protection. With YASS – the first insurance blockchain protocol developed by YDL’s YAS Lab, YAS is enabled with a highly secure network to store insurance smart contracts on the cloud with nodes running across 20 countries, protecting the data privacy of customers. YAS’ secure and decentralized data network also enables customers to own their data – with blockchain ledger records and end to end encryption, customers are able to transfer their data across insurance companies on demand.

It also offers data transformation and analytic solutions which are complemented by social data analytics for underwriters to produce single items for specific times and occasions, and to underwrite the right risks, which will facilitate a user-centric insurance future. 

Mr Andy Ann and William Lee, Cofounder of YDL, said, "YAS is a perfect blend of technological innovation, digital capabilities, and customer-centric experience; it fosters to build a community with utility, loyalty, and experience to protect people through lifestyle. What’s more, it also forms a powerful transformative insurtech business model and ecosystem, leading the evolution of the global insurance market, and reshaping the insurance industry for the next generation. YAS revolutionizes the next generation of consumer experience and behavior through empowerment, quality interaction, and engagement."

YAS is designed with a novel touch point that resonates with customers from all walks of life, setting the scene for the future of insurance by enhancing accessibility, security, diversity, and transparency in order to match customer’s needs. By breaking down the complexities of insurance, it helps customers understand what they buy and how they are protected. YAS addresses the pains and frustrations of the claims process, bridges protection gaps, and ultimately insures customers in an automated and meaningful manner.  

YDL has completed its pre-series A funding round from investors including Beyond Ventures, Sun Hing Insurance Holdings of Sun Hing Group, and Merdeka Financial Group since its inception in June 2019. The company is planning to further expand YAS’ presence in the Greater Bay Area, Asia Pacific region and ASEAN countries, including Thailand, Vietnam, Malaysia, Singapore, Taiwan, Japan and South Korea in the coming years.

YDL is planning to offer over 10,000 digitally enabled bite-sized insurance products on YAS, which will be launched with its strategic partners in phases. The company aims to identify 100 more business partners ranging from brands, retailers, insurers, sports, and travel services, each exclusive to their industry segment, to join the company’s revolutionary journey in creating niche insurance products and a customer experience desirable for the current market and future generations.

For more information of YAS, please visit www.yas.com.hk.

About YAS Digital Limited (YDL)

Established in June 2019, YDL (IA License No. FA2648) is a Hong Kong-based regional insurtech venture with a vision to become the leading insurtech in Asia, carving a new hyper-personalized marketplace for both B2B and B2C customers. It aims to introduce a disruptive new business model, create a new ecosystem and unlock business possibilities, making the sky the limit for the global insurance industry. The company is registered in accordance with the Insurance Company Ordinance (Cap.41 of the Laws of Hong Kong) as an insurance agent for local distribution of insurance products.

For media enquiries, please contact:

Raymond Woo
Infinite Mind Communications
Email: raymond@i-mind.com.hk
Office: +852 2236 5622  
Mobile: +852 9107 0404

Photo – https://photos.prnasia.com/prnh/20200723/2865958-1?lang=0
Photo – https://photos.prnasia.com/prnh/20200723/2865958-1LOGO?lang=0

Related Links :

http://www.yas.com.hk

PR Newswire

ZhongAn Successfully Priced Inaugural US$600 million 5-year Senior Unsecured Notes Issue

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Received a Baa1 IFSR Rating of the Company and Baa2 Rating of the Senior Notes with Oversubscription Exceeding 6 Times at Orderbook Peak

HONG KONG, July 10, 2020 — ZhongAn Online P & C Insurance Co., Ltd. ("ZhongAn Online" or "ZhongAn" or the "Company", HKEx: 6060), a leading online InsureTech company in China, today announced the successful pricing of its US$600 million 5-year 3.125% senior unsecured notes (the "Notes") on July 9, 2020, which are expected to be listed on the Hong Kong Stock Exchange. The Joint Global Coordinators and Joint Bookrunners of this issuance are J.P. Morgan, Credit Suisse, China International Capital Corporation and Morgan Stanley.

This marks ZhongAn’s inaugural public bond issuance in the offshore capital markets. Moody’s Investors Service, a leading international credit rating agency, has assigned a Baa1 insurance financial strength rating (IFSR) to the Company with Stable outlook, and a Baa2 rating to the Notes. Moody’s noted in its rating report that, ZhongAn’s Baa1 IFSR reflects its market presence as the leader in China’s online insurance sector, its strong capitalization, improved product diversification, and low high-risk asset leverage. With stable outlook, Moody’s expects that ZhongAn will continue to maintain strong capitalization and gradually improve its underwriting profitability. Such rating of the Notes does not constitute a recommendation to buy, sell or hold the Notes, does not address the likelihood or timing of prepayment and may be subject to revision, qualification, suspension or withdrawal at any time by Moody’s.

The issuance garnered significant interest from international investors. With an oversubscription exceeding 6 times at orderbook peak, the final price was 285 basis points above the on-the-run 5-year U.S. Treasury bond, tightening by 45 basis points from initial price guidance. In addition, the financing scale of US$600 million is the largest debut USD bond offering by Asian corporates in 2020YTD, and also ranks No. 1 in global InsureTech debt financing. This demonstrates the confidence the capital markets investors have in ZhongAn’s competitive strengths, business model and growth prospects.

Net proceeds from the issuance is intended to be used by the Company for working capital and general corporate purposes. In embracing the "Insurance + Technology" dual engine strategy, ZhongAn will continue to explore numerous application scenarios and capitalize on the vast growth potential of the InsureTech market. Throughout the COVID-19 epidemic, insurance technology has played a significant role in the digital transformation of health insurance and the entire insurance industry. This trend is in line with ZhongAn’s plans for strategic development. Recently, ZhongAn announced a positive profit alert and expected net profit attributable to owners of the Company of the first half of 2020 (the "Period") to increase by no less than 100%. During the Period, the Company’s gross written premiums increased steadily and combined ratio further improved, thus narrowing underwriting loss. This demonstrates the great efforts of the Company to further improve its financial performance.

With the issue of the Notes, ZhongAn believes it will better finance its business development initiatives, while optimizing its capital structure and enhancing international credibility. ZhongAn also believes that its access to diversified financing channels in the future will help sustain the Company’s stable and long-term growth. In addition, the Company believes that the successful notes issue is a positive sign for ZhongAn to strengthen its brand recognition and further expand its international footprint.

About ZhongAn Online P&C Insurance Co., Ltd (HKEx: 6060)

ZhongAn Online P & C Insurance Co., Ltd. ("ZA Online" or "the Company") is a leading InsureTech company in China. Incorporated on 9 October 2013, the Company primarily offers insurance products and solutions in the context of five major ecosystems: health ecosystem, lifestyle consumption ecosystem, consumer finance ecosystem, auto ecosystem, and travel ecosystem. ZA Online has proved and enhanced its technology strength through the operations of its insurance business and exports its advanced experience and technologies to domestic and overseas clients. On 28 September 2017, ZA Online became the first Fintech company to be listed on the HKEX (Stock Code: 6060) and from 2018 onwards, the Company started to explore international business development, cooperation and investment opportunities in relation to Fintech and InsureTech businesses in overseas markets.

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Shirley Chan
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