PingAn partners with Indonesian insurer in tech venture

PingAn’s OneConnect has entered an agreement with Indonesian insurer Asuransi Sinarmas to bring the former’s technological advancements to the fast-growing Southeast Asian market. The memorandum of understanding was signed by Bi Wei, CEO of OneConnect’s insurance division and Njoman Sudartha, director of Asuransi Sinarmas. In the first phase of the collaboration, Asuransi Sinarmas will launch OneConnect’s ‘Smart Auto Claims’ solution for its motor insurance products, which will improve operational efficiency and reduce costs, according to a statement by Ping An. The end-to-end auto claims technology uses image recognition, big data and AI to conduct the car damage claim assessments rapidly, thereby improving efficiency and reducing the risk of leakage and fraud, the statement added.