Asia Insurance Technology Awards (AITAs)
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This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us to discuss a subscription.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
You can activate this feature with a VendorMatch Premium subscription. Please click here for more information on Premium features or contact us to discuss a subscription.
To learn more about subscribing to our service options, please contact us here
presented by
Celent and Asia Insurance Review
The Asia Insurance Technology Awards (AITAs) recognize excellence and innovation in the use of technology within the insurance industry in the Asia Pacific Region. The 2017 winners (see below), were chosen from a highly competitive field that included nominations from across the region.
NOMINATIONS CLOSED
Nominations for the 2018 AITA Awards are now closed!
AWARD CEREMONY
The awards will be given out on 17-18 September 2018 at the 3rd Asia Cyber Risk Summit.
For questions regarding the AITAs, please contact Zao Wu at zwu@celent.com.
AITA AWARDS CATEGORIES
Data, Analytics and AI
Data has become a key source of competitive advantage for identifying profitable niches, managing risk, and improving service. New external data sources, data derived from devices, and new techniques for interpreting data are pushing the competitive boundaries for insurers at an accelerated rate. This theme recognizes projects such as:
- Predictive analytics (claims fraud, underwriting, pricing, climate analysis)
- Prescriptive analytics (triage, sales automation, “next best action”)
- Virtualization (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
Digital transformation is moving from person-to-person interaction toward person-to-machine or machine-to-machine. Integrating and coordinating among disparate and siloed delivery channels will be critical to satisfying ever-increasing customer expectations. Using the definition that digital automates complex tasks, allowing them to be mastered, then reproduced and distributed at no cost, this theme recognizes projects such as:
- Online customer portals
- The industrialization 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
We define innovation as fundamental changes to products, services, or business models that break existing tradeoffs and provide value to the customer. New hardware, software, and network technologies feed insurance innovation. This theme recognizes 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 organization.
This category also includes Insurtech initiatives which are rapidly expanding development and application of new technologies and operating models with the aim to fundamentally change current business models, financial models, and/or industry ecosystem. Process automation (e.g. BPM, STP, RPA, document imaging, etc.).
Legacy and Ecosystem Transformation
Legacy technology can hinder innovation, since insurers must typically offer backward compatibility. Insurers must not only modernize, but also transform their internal systems and how they interact with customers, counterparties, and regulators. This theme recognizes 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
What does it take to safeguard investments in technology and improve upon IT processes? This theme recognizes 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. Achieving operational excellence, requires transforming processes and systems into competitive advantages by making them leaner, faster, more flexible and of higher quality.
