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Cathay Life Insurance nabs fifth Celent Model Insurer award

  • May 14, 2023


Cathay Life Insurance nabs fifth Celent Model Insurer award | Insurance Business Canada















Applications were received from 170 financial institutions across 50 countries

Cathay Life Insurance nabs fifth Celent Model Insurer award

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Cathay Life Insurance has been awarded its fifth Model Insurer Award by global consulting and research company Celent.

The award recognizes insurance companies, reinsurers, and MGAs that have demonstrated exceptional results in technology usage across various critical areas in insurance.

Cathay Life stood out from 260 submissions from 170 financial institutions in over 50 countries, claiming the prize in the category of Data, Analytics, and AI for its Cathay Eye Intelligent Risk Control Model.

The Cathay Eye Intelligent Risk Control Model offers a new risk classification method for the life insurance industry, allowing for the expansion of application to other areas such as personal health risks.

By leveraging substantial amounts of data, Cathay Life simplifies the processes of marketing, underwriting, product design, and more. The new model is one of the few in the global insurance industry that can control and manage multi-faceted risks, providing customers with a better insurance experience.

“We hope to use data analysis and new technologies to provide customers with a new insurance experience. Cathay Eye allows us to view Taiwan’s insurance industry in a more innovative way, which is also a catalyst for change,” said Sun Zhide, senior vice president of Cathay Life Insurance.

The multi-disciplinary approach of using risk models to solve business challenges, demonstrating innovative applications in the insurance value chain, and showcasing the commercial value of AI models in the insurance industry were some of the winning aspects considered by the awards panel.

“The Model Insurer Award aims to commend insurance companies for using technology to change the face of the

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Zelros CEO Christophe Bourguignat on AI personalization in insurance

  • August 18, 2022
ai concept insurance
Image: Shutterstock

The Covid-19 pandemic spurred on a shift in digital innovation in the insurance industry. in a 2020 KMPG study85% of insurance CEOs said that Covid had accelerated the digitization of their operations, while 78% said it had turbo-charged progress on the creation of a seamless digital customer experience.

One significant area of ​​development within this has been automation, with machine learning helping insurance companies to streamline CX.

To learn more about the trends in this industry, I spoke with Christophe Bourguignat, the CEO and Founder of Zelros, an AI platform that helps insurers offer personalized product recommendations.

Zelros focuses on the distribution side of insurance, ie matching the policy holder with the right cover, depending on their specific lifestyle or needs.

“We do that by using data…” says Bourguignat. “We leverage the data that insurers already own, of course with the consent of the policy holders, and with the security that is required to manipulate that data. We also enrich this with external data – more and more governments are giving access to what they call open data, which is statistical information about weather or natural catastrophes.”

Transformation at incumbents accelerated during the pandemic

I asked Bourguignat how the Covid-19 pandemic impacted both Zelros, and the wider insurance industry.

“I see two effects,” he said. “First, people started realizing that society is more and more shocked by the crisis – economic crisis, climate crisis – and I think insurance will play a huge role in absorbing the shocks of those crises. People are now understanding why insurance in any domain is crucial for the stability of our planet tomorrow.”

“The second effect is of course the purchase habits of consumers – the fact that, during the pandemic, agencies were closed and face-to-face meetings were impossible. So

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Recreational Vehicle Insurance Market Size And Forecast -Farmers Insurance, USAA, GEICO, MetLife, Liberty Mutual, Safeco Insurance, Liberty Mutual, State Farm,

  • July 26, 2022

The Recreational Vehicle Insurance report is an in-depth examination of the global Recreational Vehicle Insurance’s general consumption structure, development trends, sales techniques, and top nations’ sales. The research looks at well-known providers in the global Recreational Vehicle Insurance industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Recreational Vehicle Insurance analysis takes into account a number of aspects, including a country’s population and business cycles, as well as market-specific microeconomic consequences. The global market research also includes a specific competition landscape section to help you better understand the Recreational Vehicle Insurance industry. This information can help stakeholders make educated decisions before investing.

Leading players of Recreational Vehicle Insurance including:

Farmers Insurance, USAA, GEICO, MetLife, Liberty Mutual, Safeco Insurance, Liberty Mutual, State Farm, Shelter Insurance, Allstate

Free Sample Report + All Related Graphs & Charts @ https://www.mraccuracyreports.com/report-sample/400942

The report is classified into multiple sections which consider the competitive environment, latest market events, technological developments, countries and regional details related to the Recreational Vehicle Insurance. The section that details the pandemic impact, the recovery strategies, and the post-pandemic market performance of each actor is also included in the report. The key opportunities that may potentially support the Recreational Vehicle Insurance are identified in the report. The report specifically focuses on the near term opportunities and strategies to realize its full potential. The uncertainties that are crucial for the market players to understand are included in the Recreational Vehicle Insurance report.

As a result of these issues, the Recreational Vehicle Insurance industry has been hampered. Because of the industry’s small number of important enterprises, the Recreational Vehicle Insurance area is heavily targeted. Customers would benefit from this research since they would be informed about the current Recreational Vehicle Insurance scenario. The most recent innovations, product news, product variants,

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