AIA Insurance hosts Hackathon Challenge for IT companies | Daily News

AIA Insurance hosts Hackathon Challenge for IT companies

AIA Insurance commenced the ‘AIA Sri Lanka Hackathon Challenge 2021’ on August 19.

Both local and international technology companies and start-ups are invited to submit their proposals before September 19, to stand a chance to win a total cash prize of USD 5,000 and be given an opportunity to pioneer industry transforming solutions by being a part of AIA’s Technology, Digital and Analytics (TDA) Journey.

The Sri Lankan insurance industry’s first of its kind Hackathon is hosted by AIA Insurance Lanka Limited, in partnership with the ASEAN Financial Innovation Network (AFIN), a social impact initiative backed by the Monetary Authority of Singapore (MAS), the International Finance Corporation (IFC) and the ASEAN Bankers Association (ABA).

The event will be hosted on the API Exchange (APIX) platform, an initiative under AFIN and the world’s first cross-border, open architecture API marketplace and sandbox platform for collaboration between fintechs and financial institutions.

The two winners will be awarded commendation plaques, a chance at winning a total cash prize of USD 5,000 and more importantly, the opportunity to work with AIA Sri Lanka to implement their solution.

AIA Sri Lanka Chief Executive Officer Nikhil Advani said, “At AIA we are transforming the life insurance industry in Sri Lanka through our promise of helping our customers, employees and the communities that we serve to live healthier, longer, better lives. With innovations like the introduction of telemedicine services and other app based unique health and wellness offerings to our customers, implementing robotic automation processes and offering advanced payment systems and solutions, AIA is truly ahead of the competition in terms of technological innovation.”

Director IT and Chief Technology Officer, AIA Sri Lanka, Umeshi de Fonseka added, “We are proud to be able to introduce yet another industry-first initiative that will not only help AIA Sri Lanka to find solutions to provide a superior and efficient service to our customers, but will also help fintech and insurtech companies to implement their amazing solutions as part of our transformation journey in embracing emerging technologies. Despite most companies struggling due to the challenges brought about by the pandemic, AIA Sri Lanka continued to innovate across multiple disciplines and was able drive sustainable growth to cater to the evolving needs of our customers.”

Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore said, “Insurance sector innovation is key to sustainable and inclusive financial services. The industry needs transformation in all three areas of its life cycle: manufacturing, distribution and processing. In partnership with APIX and IFC, the ‘AIA Sri Lanka Hackathon Challenge 2021’ is a significant step forward to accelerate the transformation process and bring best-in-class ideas quickly to production in Sri Lanka”.


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