OneConnect and Old Mutual in SA Join Hands to Embark on Digitalization of Life Insurance coverage Organization
SHENZHEN, China, March 26, 2023 /PRNewswire/ — OneConnect Monetary Technologies Co., Ltd (“OneConnect” or the “Corporation”, Stock Code: OCFT.US6638.HK), is thrilled to announce that we have entered into an all-round strategic collaboration with Old Mutual in SA to propel the digital transformation of life insurance coverage organization by leveraging each parties’ deep technologies experience and substantial localization expertise in monetary markets.
With digital transformation a essential element of Old Mutual’s client-centric technique, the enterprise has been on a multi-year journey towards embedding digitalisation across its operations and was searching for a powerful technologies companion with abundant expertise in the insurance coverage sector to overcome challenges presented by client-centric digital transformation. OneConnect vowed to help and allow OM (Old Mutual) as its proud strategic companion.
As a effectively-identified insurance coverage corporate established for extra than 178 years, Old Mutual is a Pan African Monetary Solutions enterprise that presents a broad spectrum of monetary options to retail and corporate shoppers across essential industry segments in 14 nations, with listings on 5 stock exchanges.
As an associate enterprise of Ping An Group listed on the NYSE and HKSE, OneConnect leverages on Ping An Group’s substantial integrated finance and fintech experience of more than 30 years in, its proprietary analysis and improvement capabilities, potential to give complete-stack solution offerings to monetary institutions, and getting the incredibly very first Fintech enterprise dually listed in the U.S. and Hong Kong. With fintech options stemmed from substantial scale organization use situations, OneConnect is proud to be chosen by Old Mutual in SA industry and beyond as its strategic companion.
Omni-channel Agent Remedy is the digitalized life insurance coverage flagship solution introduced by OneConnect, which delivers complete-course of action agent options to international insurance coverage institutions. Via integrating sophisticated AI technologies, the solution assists insurance coverage institutions digitally transform their agents by means of distinct modules which includes recruitment, instruction, prospecting, overall performance, and client management, empowering insurance coverage institutions to maximize the efficiency and effectiveness all through the agent employment course of action.
Could Govender, Acting Group CIO Old Mutual Restricted, mentioned, “We are excited to be operating with a premier technologies enterprise to enable us provide on our ambition to be our customer’s very first selection to sustain, develop and shield their prosperity. As aspect of our technologies concentrate, it was also essential for us to uncover an organisation with a shared vision for digital transformation in addition to powerful capability, experience, and a confirmed record in the insurance coverage business. We are deciding upon an organisation that is not just a technologies provider but one particular that understands insurance coverage and has the scale to quickly track our digital transformation journey and give us speed and flexibility to respond to ever altering requires.”
Mr. Chongfeng Shen, Chairman of the Board and Chief Executive Officer of OneConnect, mentioned: “At OneConnect, we will continue leveraging our substantial monetary experience and cutting-edge technologies to inject new momentum into the digital transformation of insurance coverage firms. We will also continue to refine our merchandise to greater meet industry demand. Old Mutual, with more than a century of history, chose us as their strategic companion since they think in our professionalism and the win-win outcomes we can generate with each other. We will preserve a close connection more than the extended-term, and propel digital transformation of life insurance coverage with each other.”
With digital transformation a essential element of Old Mutual’s client-centric technique, the enterprise has been on a multi-year journey towards embedding digitalisation across their operations. OneConnect’s Universal Agent resolution properly assists agents of Old Mutual in SA increase service efficiency and convert possible shoppers, thereby contributing to their results in the industry.
Mr. Jie Li, Chief Technologies Officer of OneConnect, mentioned, “The digital age demands precise information evaluation that blends various scenarios, and empowering each marketer and agent with technologies is especially vital. Empowering enterprises with ‘digital employees’ are also a essential element in the international digital transformation of insurance coverage firms. We are delighted to bring our expertise in digital transformation, which has been validated by Ping An Group, to the international industry.”
Going forward, OneConnect will continue to leverage Ping An Group’s 30-plus years of expertise and technological innovations in the insurance coverage business to generate extra higher high-quality options applicable to South African industry for Old Mutual. Each parties will adhere to the principle of win-win collaboration, generate a benchmark model for the digital transformation of life insurance coverage firms, and jointly open a new chapter of digital transformation in the international insurance coverage business.
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