Nominations are open for the Asia Insurance Technology Awards (AITAs), an annual award programme organised by financial technology consulting firm Celent in partnership with Asia Insurance Review.
Award Categories
The AITA programme recognises an insurer’s effective use of technology in five specific categories:
Data, Analytics and AI
This theme recognises projects such as:
- Predictive analytics (claims fraud, underwriting, pricing, climate analysis)
- Prescriptive analytics (triage, sales automation, “next best action”)
- Virtualisation (dashboards and heat maps, catastrophe management, network analysis, geopolitical risk analysis)
- Innovative functionality enhancements for consumer digital platforms (e.g. mobile apps, online)
- Artificial intelligence techniques used to achieve the next level of benefits (in underwriting, claims processing, fraud identification, propensity modelling).
Digital and Omnichannel Technologies
This theme recognises projects such as:
- Online customer portals
- The industrialisation of processes
- Development of engaging user interfaces
- Online sales with STP
- Integration with business partners
- The leveraging of social networks
- The use of mobile technology.
Innovation and Emerging Technologies
This theme recognises projects such as:
- The expansion into previously untapped markets due to technology
- The use of technologies not previously used in the insurance industry
- The development of an innovation culture within an IT organisation.
Legacy and Ecosystem Transformation
This theme recognises projects related to core system replacement or transformation including:
- Policy administration
- Document management
- Customer relationship management
- New business
- Illustrations
- Billing
- Claims
- Rating/underwriting.
Operational Excellence
This theme recognises projects such as:
- The successful reuse of technology for new initiatives
- Implementation of a non-core system such as illustrations
- Document automation
- Electronic applications
- Best practices in IT governance
- IT operational management
- IT risk management
- Security policies.
The nomination deadline is : Friday, 17 May 2019.
The awards will be given out on 27 June 2019 at the 7th Asia Motor Insurance and Claims Management Conference which is scheduled to be held in Bangkok on 26-27 June 2019.
For questions regarding the AITAs, please contact Zao Wu.