OIC InsurTech Award 2023The OIC InsurTech Award is designed to promote cutting-edge research, facilitate knowledge exchange, foster innovation development, and drive technology application within the Thai insurance industry.
In addition, the project aims to establish a robust network for the CIT, encompassing university students, the general public, insurance industry professionals, tech firms, and various startups. |
CIT InsurTech Roadshow
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The CIT InsurTech Roadshow is an activity that aims to support knowledge sharing and technology utilization within the insurance value chain. The target audience of this activity includes students, professionals in the insurance industry, individuals working in tech firms and startups, and the general public interested in insurance technology. Additionally, the event encompasses proactive promotional activities to introduce the CIT (Center of InsurTech, Thailand) and invites the target audience to participate in the OIC InsurTech Award. |
InsurTech Bootcamp
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The InsurTech Bootcamp is an activities-based learning workshop designed for the selected applicants of the OIC InsurTech Award. Its purpose is to deepen participants' understanding of technological integration within the insurance sector. Additionally, this bootcamp offers online courses and intensive coaching activities led by expert speakers, providing valuable insights to enhance participants' projects. This workshop not only cultivates participants' innovation skills but also serves as a platform for expanding their knowledge in InsurTech and encouraging them to exchange ideas to spark innovations within the insurance landscape. After participating in this bootcamp, the committee will select the teams that deliver impactful projects potentially applicable to the insurance industry to compete in the final round of the OIC InsurTech Award. |
OIC InsurTech Award 2023
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The OIC InsurTech Award 2023 were held under the theme "ASCENDING TO THE INSURTECH UNIVERSE." This competition featured three main topics:
1. Create new opportunities in insurance to sustainably protect life and health through technology. 2. Introduce innovations for driving a sustainable insurance industry with AI technology and digital advancements. 3. Transform the insurance world by leveraging data and elevating post-sale services to boost efficiency sustainably. The competition was divided into two categories: the student category and the general public category. Applicants had to pass the selection process by a qualified committee from various industries, resulting in only one winning team in each category. |
General Public
Ertigo's platform addresses the challenges of office syndrome by collecting individual behavioural data. It allows insurance companies to reduce healthcare costs and lower customers' insurance premiums in the next coverage period.
This team's application utilizes the Internet of Things (IoT) and other technologies to enhance the notification system and relieve the malfunctions in electric vehicles' internal components. With alert notifications, drivers can minimize losses while insurers can reduce claim costs and create more customized insurance premiums for electric cars.
This team's platform recommends hospitals or clinics based on the coverage of individuals' insurance policies. This platform is powered by Big Data, Machine Learning, and AI technologies to support data processing, reducing the likelihood of the claims exceeding the insurance limits.
This team offers an application that allows insurers to efficiently manage agricultural risks and accurately calculate customers' insurance premiums by utilizing data and integrating AI technology.
AI and Blockchain technologies will be utilized to analyze mobile phone damage, ensuring accuracy and precision from the insurance purchasing stage to the claim stage.
The Cloud technology will help enhance the security of e-policy delivery. Additionally, the blockchain platform will support the document storage process, while a smart contract will be utilized to monitor the expiration of stored documents.
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Students
Guaran Tree's application provides farmers with agricultural insurance without requiring insurance premium payments. By assessing carbon credits from farmers' trees, the application helps them generate income by selling these credits in the marketplace. This income will be used to cover insurance premiums or enhance overall insurance coverage.
This team proposes an innovative insurance product integrated with personalized facial analysis technology to address individual skincare concerns precisely. Policyholders are eligible for compensation if their facial conditions worsen after following the recommended skincare routine.
This team's application is designed to monitor individuals' driving behaviour and offer additional services like selling insurance to users or facilitating their insurance policy renewal. The application identifies driving behaviours, such as swaying, by integrating IoT and Machine Learning technologies through accelerometer sensors, AI-powered cameras, and 5G technology.
This team proposes an application offering saving life insurance designed for children's education, allowing parents to accumulate insurance coverage through monthly savings from their children. This AI-powered one-stop-service platform aims to provide a better savings experience for families, allowing them to set their financial goals and increase their financial literacy.
AI technology will be utilized to assess agricultural risks, enabling insurance companies to calculate risks more accurately and appropriately determine insurance premiums. This idea will open up opportunities for farmers to access insurance products more extensively.
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