AIA Insurance launched the ‘AIA Sri Lanka Hackathon Challenge 2021’ last month for local and international technology companies. The closing date is today, September 19.
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.
Participants will go head to head in identifying solutions to the two categories of problem statements available in the challenge, ‘E-KYC and Smart OCR’ and ‘Gamification based Customer Recommendation’. Ten finalists will then battle it out in an eight-week POC phase to bring their solution to life before the two winners are announced on December 6 at the AIA Demo Day.
The two winners will be awarded commendation plaques, a chance at winning a total cash prize of USD 5,000 and the opportunity to work with AIA Sri Lanka to implement their solution.
Chief Executive Officer at AIA Sri Lanka, Nikhil Advani said, “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.”
Director IT and Chief Technology Officer, AIA Sri Lanka, Umeshi de Fonseka said, “The ‘AIA Sri Lanka Hackathon Challenge 2021’ is a reflection of our continued commitment to laying the foundation towards building a more digitised and stable organisation that continues to lead from the front.”