Asia Insurance Technology Awards (AITAs)

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17 - 18 September 2018
Singapore

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.


AITA WINNERS

2017

Big Data and Analytics Award
Allianz Asia
and
AXA Hong Kong

Digital Transformation Award
Videocon General Insurance
and
ROAD CHINA ASSISTANCE, a MAPFRE company

Innovation Award
Asia Risk Transfer Solutions (ARTS)
and
Liberty Insurance

IT Leadership Award
IT & Innovation Team
PT Zurich Topas Life
and
Mohit Rochlani
IndiaFirst Life Insurance

Best Newcomer Award
CAMS Insurance repository Services

Best Insurer: Technology
Cathay Life Insurance

2016

Best Insurer
Technology Award
New China Life Insurance
and
Max Life Insurance

IT Leadership Award
Sriram Naganathan
CIO
Liberty Videocon
General Insurance

Best Newcomer Award
Everledger

Digital Transformation Award
AXA Asia
and
PetSure (Australia)

Big Data and Analytics Award
AXA Hong Kong

Innovation Award
IDBI Federal Life Insurance
and Ping An Property & Casualty
Insurance Company of China

2015

Best Insurer
Technology Award
RAC Insurance

IT Leadership Award
Girish Nayak
Chief
Customer Service, Operations, and Technology
ICICI Lombard General Insurance

Best Newcomer Award
CAMS Insurance Repository Services
Digital Transformation Award
BOCG Life

Innovation Award
MetLife Asia

New Business Model
Leveraging Mobile
Applications Award
Max Life Insurance

2014

Best Insurer
Technology Award
MetLife Global Technology & Operations Asia, Reliance General Insurance

IT Leadership
Mr. Somesh Chandra
Director
Customer Service, Operations and Technology
Max Bupa Health Insurance

Best Mobile Application
ICICI Lombard General Insurance

Digital Transformation
AIA Malaysia, Achmea Australia

Best Newcomer
Achmea Australia

Innovation
Fubon Insurance, MetLife Hong Kong

2013

IT Leadership
Namal Gunawardhane
Head Of IT
HNB Assurance

Best Insurer
Technology Award
HDFC Standard Life Insurance

Best Mobile Application
MetLife Global Technology & Operations Asia

Best Mobile Application
Sony Life Insurance

Best Newcomer
Liberty Videocon General Insurance

E-commerce
Now Health International

2012

IT Leadership
Pramod Krishnamurthy
Chief Technology Officer
Birla Sun Life Insurance

Best Insurer
Technology Award
Bank of New Zealand Insurances

Best Insurer
Technology Award
Janashakthi Insurance PLC

Best Insurer
Technology Award
Union Assurance PLC

Best Mobile Application
ICICI Lombard General Insurance

Best Mobile Application
MetLife Asia Technology and Operations

Best Newcomer
Partners Life

E-commerce
Iffco Tokio General Insurance

2011

IT Leadership
Joydeep Roy
Chief Executive
L&T General Insurance

IT Leadership
Pramod Pawar
Head - IT
L&T General Insurance

Best Insurer
Technology Award
DLF Pramerica Life Insurance

Highly Commended
General Insurance Corporation of India

Best Mobile Application
Tokio Marine & Nichido Fire Insurance

Best Newcomer
Siemsen Group

E-commerce
Tata AIG General Insurance

Media

Documents

Event details

Sector
Insurance
Location
Asia-Pacific
Format
Awards ceremony