Innovate Together Talk: Asia Insurance | 齊來創新深度談:亞洲保險

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MIDAS is a collaborative effort between the Hong Kong Federation of Insurers (HKFI) and CryptoBLK that harnesses Distributed Ledger Technology (DLT) or blockchain to ensure the authentication of motor insurance documents and fight against fraudulent cases. In 2020, MIDAS won the Gold Award from Hong Kong ICT Award; and in 2019, it was awarded the Innovation of the Year from Asia Insurance Review in Singapore.

CryptoBLK is thrilled to launch the “Innovate Together” Talk, where we will have an in-depth conversation with industry leaders, who will update us on the challenges and opportunities the industry is facing, and how MIDAS can bring “trust” to the whole industry through the blockchain, and hence solving the industry pain points.

We are honored to have Mr. Joe Lee, Vice President and Head of Information Technology of Asia Insurance, as our guest in the “Innovate Together” Talk. He will share his views on the digital transformation in Hong Kong’s insurance and the application of blockchain technology,  as well as the value and benefits of MIDAS to law enforcement and public interests.

Q:  What do you think about the digital transformation in Hong Kong’s insurance industry?

Joe: The occurrence of “New Normal”, the higher adoption rate of advanced technology in the insurance industry of other neighboring regions, IA’s fast track virtual insurer license authorization, HKFI’s InsurTech task force, and the growth of the Insurtech startups. All of these are reminding us that being digital has become the must-have strategy for every player in Hong Kong’s insurance industry.

The digital maturity of the players is different. Some big players are already in their digital transformation journey for years and have gained enough experience to implement some advanced digital ideas like omnichannel and process automation. Other players clearly know that they must be transformed but they might struggle with the resources and the know-how.

Q: HKFI is making an effort on digitizing the industry, such as investing in blockchain technology to develop the industry-wide platform MIDAS. What is your view on it?

Joe: HKFI is in the right position to take up this initiative. Especially for adopting the blockchain technology which needs joint efforts, HKFI not only represents the industry to get the support from the regulator, it also facilitates different stakeholders using this platform including public, insurers, intermediaries, regulator, government agency, and law enforcement body.

Q: Since when does Asia Insurance start the digital transformation journey?

Joe: Asia Insurance has started its digital transformation journey in 2020. We would take the latecomer advantage by learning from others who have led digital transformations. We would choose the right digital tools to improve our business processes and customer experience.

Q: Asia Insurance is the first few insurance companies adopting MIDAS. When considering implementing a new system, such as MIDAS, into your existing system, how do you evaluate the value of a new system? Does MIDAS bring the value that you are looking for?

Joe: Asia Insurance would evaluate the ROI of a new system quantitatively and qualitatively. Governance, social responsibility, and support to the industry initiatives are also the values we treasure. MIDAS could let our customers and other stakeholders authenticate the motor cover notes issued by us with just a QR code.

Q: Any challenges in the API integration process?

Joe: API will become the de facto standard for data interchange in real-time. The integration process is with ease when compared with the traditional methods. Instead, our policy administration team has focused on testing the system changes related to the operations.

Q: Do you think the integration of MIDAS into your system will benefit your customer? What does your customer say about your new system after using MIDAS?

Joe: Yes, it will. The platform is already built, and the benefit could be maximized when there are more peers joining this initiative. To further increase the usage, another suggestion is that the MIDAS team might consider creating some “Quick Start Guide/Tips” for the insured public. So, the insurers and the intermediaries could deliver to the customers in digital means.

 

Mr. Joe Lee

Vice President, Head of Information Technology

Asia Insurance Company, Limited

Asia Insurance is founded in 1959 and it is one of the leading general insurers in Hong Kong. It offers the most comprehensive product range including well-designed, attractively priced, conventional, and niche market insurance products.

Asia Insurance is a wholly-owned subsidiary of Asia Financial Holdings Ltd. (HK Stock Code: 662).

Mr. Joe Lee has worked for Japanese, European, and Hong Kong insurance companies, and with more than 20 years of experience in different areas of information technology like system development, project management, planning, governance, security, and risk management.

MIDAS 是香港保險業聯會聯合 CryptoBLK 開發的 DLT / 區塊鏈汽車保單認證系統,旨在解決汽車保險欺詐行為,並實現行業數字化。MIDAS 在2020 年榮獲由政府資訊科技總監辦公室發起的「香港資訊及通訊科技奬」的金獎殊榮; 在 2019 年獲《亞洲保險評論雜誌》選為「年度創意大獎」得主。

在 CrypoBLK 新一期的「齊來創新 Innovate Together」系列專題中,我們希望透過與行業領袖的對話,讓大家更加了解車保行業的現況、挑戰和機遇,以及 MIDAS 如何透過區塊鏈技術為整個行業帶來「信任」,解決行業痛點。

我們很榮幸能邀請到亞洲保險有限公司副總裁及資訊科技部主管李昆易先生作為今期的嘉賓,他會分享香港保險業的數碼轉型情況、區塊鏈技術在保險的應用,以及 MIDAS 對整個業界和大眾的價值。

問:您對於香港的保險業數碼化轉型有什麼看法?

Joe:我認為「新常態」的出現提高了其他鄰近地區保險業對於高端技術的採用率,同時推動了保險業監管局虛擬保險牌照快速通道的授權,鼓勵香港保險業聯會(「保聯」)InsurTech 專案組的成立,以及促進 InsurTech 初創公司的成長。這些都在提醒我們,數碼化已成為香港保險業每一位參與者的必選策略。

每家公司的數碼化成熟程度不同,一些大企業很早就開始數碼轉型之旅,並獲得足够的經驗來實施一些先進的數碼技術,如多通道和程序自動化等。其他公司亦清晰理解到轉型的必要性,然而因資源和技術上的不足有所遲疑。

問:香港保險業聯會正致力於業界的數碼化,例如投資區塊鏈技術開發全行業平台 MIDAS。你對此有什麼看法?

Joe:保聯在推動數碼化進程上,處於一個再合適不過的位置。尤其是像區塊鏈這樣需要多方共同努力的技術推動上,保聯不僅代表了業界獲得監管機構的支持,而且還為包括公眾、保險公司、中介機構、監管機構、政府機構和執法機構等各種利益相關者在使用平台上提供支持和便利。

問:亞洲保險是什麼時候開展數碼轉型之旅?

Joe:亞洲保險是於 2020 年開展了數碼化轉型之旅。我們希望發揮「後進者優勢」,透過向引領數碼化變革的先行者學習,選擇最適合我們的數碼化工具來改善業務流程和客戶體驗。

問:亞洲保險是首批採用MIDAS的保險公司。在考慮將MIDAS 這類新系統整合到現有系統中時,您是如何評估其價值?而MIDAS 是否帶來了如期的價值?

Joe:亞洲保險將對新系統的投資回報率進行定量和定性評估。治理、社會責任和行業的支持也是我們重視的價值。 在MIDAS 平台,客戶和其他利益相關者只需掃描一個二維碼即能驗證到我們發佈的臨時汽車保單。

問:API 集成過程中遇到了任何挑戰嗎?   

Joe:API 在實時數據交換的應用將會成為行業標準。與傳統方法相比,API 集成過程較以往更簡單易行。我們的保單管理團隊比較專注於與系統變更相關的測試與運營。

問:您認為將 MIDAS集成到您的系統中將利於客戶嗎?客戶對使用MIDAS新系統後有何評價?

Joe:我認為將 MIDAS 集成到系統中對客戶是有利的。 隨著越來越多同行加入 MIDAS 平台,其收益將得到最大化。 為了進一步提高使用率,另一個建議是 MIDAS 團隊可以考慮為保險公眾創建一些「快速入門指南/提示」,使保險公司和中介機構可以通過數碼化方式向客戶交付產品。

 

李昆易先生

副總裁, 資訊科技部主管

亞洲保險有限公司

亞洲保險於1959年創辦,現為香港其中一間成功且具領導地位的本地一般保險公司。​亞洲保險擁有最完備的產品種類,包括設計優良、價格吸引的傳統和獨特的保險產品。

亞洲保險是亞洲金融集團全資擁有的子公司(香港股票編號:662)。

李昆易先生在資訊科技的系統開發、項目管理、規劃、治理、安全和風險管理方面擁有20多年的經驗,並曾任職於日本,歐洲及香港的保險公司。

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