Thailand’s major newspaper, Post Today, reported on SURETY.AI. It said that blockchain is being promoted to help the insurance industry in Thailand. SURETY.AI offers new business model in Thailand with new technology, thus reducing costs and improving service. Read the full translated report below.
Post Today — Insurance business in Thailand is growing with foreigners entering the market, offering blockchain and AI to support growth and reduce cost.
Keith Lim, CEO of HEARTI, revealed that the company will bring its blockchain and AI technlogies from Singapore to Thailand by targetting insurance companies and auto insurance services specifically. Currently, there is not much competition in the market. They aim to acheive at least US$1 million sales growth within 2018.
“This year we are negotiating with 2–3 clients in Thailand. The clients can select solution and on-demand model to match customer base and their services. We have partners from other industries to join in as well. This will bring the latest technology to make changes for insurance business in Thailand. We are expanding not only in Thailand but also in Malaysia, India, Indonesia, Vietnam and Europe as well” Lim said.
However, insurance industry in Thailand is a promising market that is big and growing continuously with massive customer base. If they apply SURETY.AI technology, the customers will get faster service and it can save cost by 50%. Either it’s claim servicing for customers in healthcare claims with insurance company that uses AI to review database for speedy approval, or it’s travel insurance where if the clients face flight delays, they will get the claim processed and transfered to their bank immediately. Another example is auto insurance service where the claim is done over the smartphone without having insurance stuff to check the scene or venue. Moreover, Hearti will coordinate with Office of Insurance Commission (OIC) to implement SURETY.AI technology in supporting insurance.
SURETY.AI is a blockchain based artificial intelligence (A.I) platform for insurance companies developed by Hearti Lab Pte Ltd (Hearti).
SURETY.AI allows insurance companies to connect effectively with their customers by offering micro-insurances, on-demand and at affordable prices, to Asia’s fast growing economies through Decentralised Enterprise Insurance Network.
As insurances are closely tied to healthcare, where healthcare services such as medical check records are often used for underwriting and preventive measures, Hearti is also working with Healthcare partners to integrate their services and data into SURETY.AI.
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