News eDaily14 Jun 2018

APAC:2018 Asia Insurance Technology Awards nominations open

14 Jun 2018

Presented by Asia Insurance Review and Celent, the Asia Insurance Technology Awards (AITAs) recognise excellence and innovation in the use of technology within the insurance industry in the Asia Pacific Region. Nominations for the 2018 AITA Awards are now open and the nomination deadline is 20 July 2018.

The awards will be announced on 17-18 September 2018 at the 3rd Asia Cyber Risk Summit, organised by Asia Insurance Review.

The awards categories include:

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.

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.

Innovation and emerging technologies

We define innovation as fundamental changes to products, services, or business models that break existing trade-offs and provide value to the customer. New hardware, software, and network technologies feed insurance innovation.

Legacy and ecosystem transformation

Legacy technology can hinder innovation, since insurers must typically offer backward compatibility. Insurers must not only modernise, but also transform their internal systems and how they interact with customers, counterparties, and regulators. This theme recognises projects related to core system replacement or transformation.

Operational excellence

What does it take to safeguard investments in technology and improve upon IT processes? This theme recognizes projects like the successful reuse of technology for new initiatives, implementation of a non-core system such as illustrations and more.

Download the nomination form here.

More details about the 3rd Asia Cyber Risk Summit here.

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