Ping An's OneConnect to Collaborate with Indonesia's Asuransi Sinar Mas on Insurtech
OneConnect (or "the Company"), a leading technology-as-a-service platform for financial institutions, has signed a memorandum of understanding with insurer Asuransi Sinarmas, a unit of Sinarmas, one of the largest conglomerates in Indonesia.
In the first phase of the collaboration, OneConnect will enable Asuransi Sinarmas to launch Smart Auto Claims solution to improve operational efficiency and reduce costs. As OneConnect continues to expand its footprint in Indonesia and Southeast Asia, the collaboration will accelerate and deepen the partnership between OneConnect and Sinarmas Group .
The MOU is signed by Mr Bi Wei, CEO of Insurance Division of OneConnect and the Director of Asuransi Sinarmas, Mr Njoman Sudartha.
Mr Njoman Sudartha expressed that OneConnect emerged as Asuransi Sinarmas' choice partner due to its technical strength and indepth knowledge in artificial intelligence and blockchain technologies.
OneConnect is an associate company of Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or "the Group", HKEX: 2318; SSE: 601318), a Fortune Global 29th company and world-leading technology-powered retail financial services group. Leveraging Ping An's capacity and over 30 years' experience in the financial industry, OneConnect has been deeply cultivated in the field of financial technology and has applied advanced AI technology across massive service scenarios and cases in the insurance industry. OneConnect is empowering businesses in Southeast Asia to ride the digital wave with smart insurance technology solutions that help traditional insurance companies transform their busines and reshape the insurance industry.
OneConnect's Smart Agent ??app helps insurance companies with agent training and agent incentive programs. The agent management app effectively improves the retention rate of talents and increases the per capita production capacity.
In terms of intelligent risk control in the field of insurance, OneConnect has created an end-to-end smart solution to handle auto insurance claims. Using image recognition and big data, AI can complete the car damage claim assessments in seconds, thereby improving efficiency and reducing leakage and risk of fraud.
OneConnect utilizes AI technologies to help insurance companies enhance their product operation capabilities such as automating customer service processes to address the pain points in customer service and improve user experience. In addition, it also provides smart enterprise solutions including smart finance and smart personnel to enhance the digital operation capability of insurance companies.
Having been applied across massive scenarios and use cases, OneConnect's insurtech solutions are instrumental in enabling the insurance industry to achieve innovative developments in many aspects such as enhancing efficiency and risk control, reducing cost as well as improving customer experience.
Founded in 1962 by the well-known Chinese Indonesian Mr Huang Yucong, Sinarmas Group's portfolio spans four core industries - pulp and paper, agriculture and food, finance, and real estate - across Asia, North America, Europe and Australia.
For many years, Asuransi Sinarmas has been focusing on Southeast Asian countries. This partnership greatly accelerates its digital transformation journey, and enhances OneConnect's brand presence in Indonesia.
OneConnect is a leading technology-as-a-service platform for financial institutions in China. The Company integrates extensive financial services industry expertise with market-leading technology to provide technology applications and technology-enabled business services to financial institutions. These solutions enable our customers' digital transformations, which help them increase revenue, manage risks, improve efficiency, enhance service quality and reduce costs.
OneConnect is an affiliate of Ping An Group. As of June 30, 2019, Ping An Group was the fifth-largest globally by market capitalization. OneConnect leverages the Group's 30 years of extensive experience in financial services and accurately addresses the needs of different financial institutions. The Company now has 12 technology solutions across the full scope of their businesses - from sales and marketing and risk management to customer services and operations, as well as technology infrastructure such as data management, program development, and cloud services.