Among cross-sector tie-ups, Prudential partners with Alibaba Cloud, Manulife works with Ant Health and BOC Life joins hands with Deloitte
tightened cross-border tax rules. Alibaba Cloudto launch an AI underwriter, designed to help financial consultants make preliminary decisions based on a client’s financial situation, medical record, occupation and residential profile.
insurance companiesalone could not cope with the new technology, said Lawrence Lam, CEO of Prudential Hong Kong, in a media briefing on Wednesday.
“AI underwriting allows our financial consultants to identify client needs and deliver preliminary results within minutes instead of days,” he said.
Ethan Yuan Zhiming, vice-president of international business and regional general manager of Hong Kong and Macau at Alibaba Cloud, said the partnership combined Prudential’s insurance expertise with Alibaba Cloud’s AI capabilities to provide faster and better service.
Alibaba Cloud in June also signed a strategic partnership with Manulife Hong Kong to develop AI solutions to enhance customer experience and operational effectiveness. Alibaba Cloud is the AI and cloud computing services unit of Alibaba, owner of the South China Morning Post.