Life reinsurer Pacific Life Re is partnering with data analytics firm Sapientus to enhance the efficiency and effectiveness of its insurance solutions for the Chinese market.
Sapientus is part of China-based mobile services and data firm FingerMotion and will also help Pacific Life Re enhance its current underwriting and claims management processes.
Pacific Life Re will be leveraging Sapientus’ proprietary approach to analytics by drawing data from novel sources and filtering them through advanced algorithms.
Sapientus offers a proprietary risk analytics platform that rests on a modular data structure designed to accommodate a continually expanding data repertoire.
This data analytics framework enables integration with a variety of external data sources and partners’ inputs, allowing for ongoing model refinement.
“Pacific Life Re is focused on serving our partners and their customers through our data-driven and technology-led approaches,” said Chan Keng Hong, Pacific Life Re’s Head of Greater China.
“We are confident that this joint undertaking will provide us with greater opportunities to present a wider range of novel and innovative solutions in order to grow and reinvigorate the China insurance industry.”
Martin Shen, Chief Executive Officer of FingerMotion, added “We are very excited about this joint undertaking as we believe this collaboration will create a transformative environment that could leave evolutionary imprints in the insurance industry with respect to risk assessments, customer insights, and more importantly innovative solutions that will enhance the overall customer experience.”
