Traditional and virtual insurers alike are embracing digital innovations to offer consumers greater convenience while harnessing the powerful tools and sophisticated insights that these technologies provide. For some traditional insurers, though, the shift to digital is not simple.
While InsurTech has been making deeper inroads into the insurance industry in recent years, many traditional insurers lack the resources to establish the necessary infrastructure to digitalise their products and to process claims quickly. eCommerce business partners, meanwhile, do not always have enough resources to set setup good digital outlets.
GoLion, a Cyberport Incubatee and Cyberport Smart-Space company, is now focusing on B2B development in various industries, such as telecom, travel and tourism industries. It has launched two solutions to address these pain points.
The “GoLion Gate” offers eCommerce business partners APIs to connect with insurers for consumers to buy easily. The AI-powered analytic tools could provide more insights and make the connection more intelligent. At present, more than 20 insurers in four countries and regions have signed on to the GoLion platform. GoLion targets to launch 60 insurers with 300 products and connect more than 100 eCommerce business partners by Q1 2020.
The “GoLion Mall”, on the other hand, helps consumers discover the right products from the right insurers at the right time. The Mall is accessible on the web and through a mobile app, whether it is about travel insurance, personal accident insurance, domestic helper insurance, or international student insurance, all can be obtained directly at the Mall. Submitting claims and managing insurance policies are just as easy, as are finding vouchers for discounts.
“Cyberport organises different networking and events to enhance the connection of start-ups and to gain valuable experience and sharing. Through the mentorship programme, we enhanced our international vision and market strategies. We are expanding to ASEAN markets to capitalise on the opportunities arising from the region’s low insurance penetration rate and large population.” said by Eddie Chang, CEO of GoLion. sources: https://www.cyberport.hk/enewsletter/v134/1340007.html