Announcing the winners of the 5th Asia Technology Insurance Awards

Celent and Asia Insurance Review hosted the 5th Asia Insurance Technology Awards (AITAs) at AIR’s CIO Technology Summit at Le Meridien Hotel Jakarta on 1 September 2015. The AITAs recognize excellence and innovation in the use of technology within the insurance industry. This year we received over 30 nominations from Australia, Hong Kong, Taiwan, India, Sri Lanka, Indonesia, and Pakistan; as well as the Asia Pacific divisions of global insurers. There were many impressive submissions, from which our international panel of Celent insurance analysts selected the very best to receive the six awards. The Innovation Award recognizes innovation in business models or in the use of technology. The winner was MetLife Asia. MetLife Asia implemented Advanced Data Analytics to transform big data into customer insights and to deliver a more personalized customer experience – delivering the right products and services, for the right people, at the right time. They are using these insights to inform product and services development, and to deliver sales leads to agents. The company won the award because of the innovative usage of data analytics. The IT Leadership Award honors an individual who has displayed clear vision and leadership in the delivery of technology to the business. The recipient will have been responsible for deriving genuine value from technology and has demonstrated this trait with a specific project or through ongoing leadership. The winner was Girish Nayak, Chief – Customer Service, Operations and Technology at ICICI Lombard General Insurance. ICICI Lombard implemented a business assurance project to address the ever present gap between real business uptime on the ground vs technology uptime. The firm implemented an in-house customer experience center; and deployed an infrastructure as a service model in Microsoft Azure Cloud. These initiatives generate genuine value for the business. The Digital Transformation Award honors an insurer who has made the most progress in implementing digitization initiatives. BOCG Life was the winner. BOCG Life implemented the Electronic Commerce System to provide online needs analysis and policy services. Through a transparent, direct and needs-oriented process, it facilitates prospective customers applying for multiple products they need in one go, and allows customer to adjust the offer according to their budget. The company won the award because of the way it is building trust and developing long-term relationships with customers through digital transformation. The Best Newcomer Award recognizes the best new player in the insurance technology field. The winner was CAMS Insurance Repository Services. CAMS Insurance Repository Services launched the Insurance Repository to provide e- Insurance Accounts to maintain policies as e-policies. This brings new efficiencies and benefits across the stakeholders, including Policy Holders, Insurers, Agents and the Regulator. The company won the award because they demonstrated real, unique value to the ecosystem. The award for Best Insurer: Technology honors the insurer who has made the most progress in embracing technology across the organization. The winner was RAC Insurance. RAC Insurance implemented a series of projects to digitize the business between suppliers, members and RAC Insurance. These projects include Claims Allocation, Motor Repairer Integration, and a B2C platform. The company won the award because of the way technology transformed the organization’s capability by offering an exceptional, one-touch experience for their members through online channels. Finally, the New Business Model Leveraging Mobile Applications Award recognizes the insurer who has developed a new, perhaps disruptive business model involving the innovative use of mobile technology. Max Life Insurance won the award. Max Life Insurance launched mServicing and mApp which enable digital servicing of customers, sales force and operations. The company won the award because of the use of mobile technologies to increase agent activity and engagement, enable speedy issuance of policies, and enhance business quality and operational efficiency. Be on the lookout for the 6th Asia Insurance Technology Awards in 2016. We’ll post another blog when the nomination period opens, sometime around June 2016. You can also find information on Celent’s website: http://www.celent.com/aita.  

IoT時代の保険会社

モノのインターネットは保険会社のビジネスのやり方を大きく変化させる。
だが、その変化はどのような速さで、どの程度なのだろうか?

  • 保険料の引き下げや、リスクコストの削減という保険契約者にとっての価値
  • 損失コストやその他のリスクコストの削減という保険会社にとっての価値
  • モノのインターネットの創造・維持・利用にかかるコスト

モノのインターネットは、保険分野の価値連鎖のあらゆる部分を変化させる。
たとえば、以下の基本的な保険業務プロセスへの影響度はどうか?

  • 商品設計
  • 保険料設定
  • 保険引受
  • 契約者サービス
  • 保険金請求

やがて、損失の減少に比例して保険料も引き下げられる、それは必然的に…

  • 保険業界は規模縮小戦略に転換する?
  • 保険料を大幅に引き下げることになった場合には、経済全体における保険会社の役割縮小を受入れる?
  • モノのインターネットにおける損失削減という役割に注力、そこに代替の収入源を見つける?

セレントは、こうしたIoT (Internet of Things:モノのインターネット)時代の保険会社に、テクノロジー活用をドライブする枠組みを提唱(1) している。

そこでは、
IoTの3 つの構成要素、すなわち、

  1. ネットワーク接続されたセンサーがついたモノ
  2. データストア
  3. 分析エンジン と、

IoTが生み出す3 つの価値、すなわち、

  1. 社内外の現状に関するデータや情報
  2. アナリティクスにより導かれる結論
  3. フィードバックおよび管理プロセス

を、明快に位置づけている。

 

Fig1. セレント IoTフレームワーク

IoTフレームワーク

 

(1) IoT / IoE 、デジタル戦略に関する以下のセレントレポートを推奨する