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Oliver Wyman

Oliver Wyman is our official partner for the APAC Insurer Innovation Awards.

Oliver Wyman is a global leader in management consulting. With offices in more than 70 cities across 30 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation.

The firm has more than 5,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a business of Marsh McLennan [NYSE: MMC]. For more information, visit

Arthur D. Little

Arthur D. Little has been at the forefront of innovation since 1886. We are an acknowledged thought leader in linking strategy, innovation and transformation in technology intensive and converging industries. We navigate our clients through changing business ecosystems to uncover new growth opportunities. We enable our clients to build innovation capabilities and transform their organizations. Our consultants have strong practical industry experience combined with excellent knowledge of key trends and dynamics. ADL is present in the most important business centers around the world. We are proud to serve most of the Fortune 1000 companies, in addition to other leading firms and public sector organizations. For further information, please visit


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Sønr is the world’s most comprehensive source of innovation intelligence. It is a subscription platform used by some of the best known insurance companies globally.

It tracks millions of companies around the world and provides insight on the latest market trends, the startups and scaleups reshaping the industry, and intelligence on how other big insurers are innovating.

Sønr includes a suite of tools designed for teams to better collaborate and connect. From recording meetings to capturing and sharing Notes, to being able to track and share activity across the company using Watchlists and CRM boards.

The platform is backed up by a team of consultants, researchers and analysts who support clients in discovering and creating new business opportunities.

AI initiatives within life/health distribution

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Artificial intelligence, IoT and big data have become inescapable buzzwords but the notion that software will perform functions typically associated with the human mind is fast becoming a reality. However, a clear separation exists between AI assisted user journeys for general insurance lines including chatbots and intelligent product recommendations, and the long term life/health insurance that still requires banks and agents to distribute.

Despite this distinction, several startups and insurers are looking at the intersection of offline distribution and online assistance to optimize the agency channel. One of these is Beijing based Xuequibao who’s agency management app has combined the standard agency management workflow with AI based recommendations that are pushed to agents in real time.

Legacy insurers are also hard at work to evolve distribution. Taikang Life has devised an intelligent product recommendation engine using ‘parallel inference’ techniques, a method of statistical reasoning based on imprecise information, to generate product recommendations and provides repeat visitors with a pre-populated user journey. Elsewhere, Ping An, China’s pre-eminent digital insurer has pioneered a facial recognition feature which it uses to authenticate pending policy holders (those who have applied for life/health insurance but are waiting for the policy to be activated). Since launch, the biometric identification feature has lowed the rate of customers who withdraw their application during this window from the industry average of 4% to 1.4%.

Finally, Beijing based AIbroker ( is working on digital employee benefits and has combined a Zenefits inspired business model with advanced analytics to tailor health insurance plans that are tax-deductible under newly released income tax regulations which has spurred several new brokers to enter China’s EB market.

Ultimately, although AI and advanced analytics have successfully been applied to general insurance lines, the ability to upgrade an offline agency force with AI based tools to lower agent churn rate and maximize conversion rate, and bring visibility into individual agent practices that have historically been difficult for insurers to implement. Fortunately, recent advances in decision tree-based AI tools, combined with previously absent regulatory support, is heralding a new era for agency management practices in China, one that is characterized by service and renewal rates as opposed to premium per agent.


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