CLOSED: AUTOMATED E-POLICY ISSUANCE SYSTEM
CLOSED: AUTOMATED CLAIMS ASSESSMENT TOOL
21/05/2019
CLOSED: COUNTERFEIT REPORTING AND DETECTION FOR CROP PROTECTION PRODUCTS
21/05/2019
| City: | Singapore |
| Challenge Title: | AUTOMATED E-POLICY ISSUANCE SYSTEM |
| Challenge Owner: | Berjaya SOMPO Insurance Berhad |
| Challenge Website: | https://www.openinnovation.sg/challenges/automated-e-policy-issuance-system#zo1mcx |
| Challenge Award: | SGD 25,000 of prize money for each winner |
| Other Awards: | Opportunity to scale the solution across SOMPO companies in 30 countries worldwide such as Singapore, Thailand, Indonesia, Malaysia, China, India, Turkey, BrazilAccess to SOMPO’s domain expertise and support for the POCWinner will be publicised by SOMPO at the end of the challenge |
| Theme / Sector: | 5G, AI |
| Challenge Blurb: | Currently, the way the customer provides this information to SOMPO is cumbersome and can create errors that later need to be rectified, affecting the customer experience. The process is manually intensive for both the customer and SOMPO, with multiple touchpoints involved in the submission process, increasing the risk of entering inaccurate dates. This also means a long processing time, and in turn delays in the turnaround time for customers. |
| Challenge Description: | Problem Statement – How might we use technology to facilitate accurate and easy customer data and document collection and enable real-time policy issuance? What We Are Looking For – A Proof-of-Concept (POC) of a digital ‘e-Submission’ system that can collect customer data and document and verify the information based on pre-defined rules,for standard cases that fall within the rules, the system can generate the quotation based on pre-defined rules. If customer agrees with the pricing and terms, he can proceed to make the purchasefor non-standard cases that fall outside the rules, the submitted details will be routed to SOMPO team for review. After review and confirmation by the team, the system can generate the quotation and send it to the customer. If customer agrees with the pricing and terms, he can proceed to make the purchaseProceed with e-payment, generate e-policy document and email to customerThe system should be able to connect to other SOMPO’s systems to retrieve relevant information (e.g. costing or policy number) to generate quotation or e-policy documentThe system should allow customers to quickly upload reference documents or images during the application processThe system should be in English, but must be able to extend to other languages when rolled out fullyCustomers’ touchpoints would be:Manual entry of data or upload of documentsReceipt of QuotationReceipt of the e-Policy upon confirmation of risk acceptance and payment |
| Open for Submissions: | 16 April 2019 |
| Deadline for Submissions: | 21 June 2019, 1600 hours (SGT/GMT +8) |
| Finalist Announcement: | TBA |
| Winner Announcement: | TBA |
| Who Can Apply: | Open to international participants |
| Registration Details: | Submit online at: https://www.openinnovation.sg/challenges/automated-e-policy-issuance-system#zo1mcx |
For application assistance: Quercus Group
