Axa says it expects to spend HK$220 million on technology in Hong Kong, a 10 percent year-on-year increase, sharing some of the effective innovations and ideas discovered from a recent «hackathon».
«The uniqueness of Hong Kong is that it is a large market [concentrated in a] small geographic area, which makes it easier to pilot something,» said Ashok Krishnan, Axa’s chief data officer and head of customer experience in Hong Kong in an «SCMP» report, referring to artificial intelligence and big data applications.
The firm sought to leverage such emerging technologies to address issues such as Axa’s strategic transition from being a traditional payer of claims to a proactive health partner of its customers.
«Pill Pal»
Through a 48-hour hackathon hosted by Axa earlier this month, the French insurer found such a solution from the winning team (out of 100 from 10 countries) which created a mock app called the «pill Pal».
The app’s objective was to leverage facial and object recognition technology to support greater adherence to medical instructions for chronic diseases. Patients would take pills in front of a device and the app would track its timelines and accuracy alongside other tools such as chat functions or data accessibility for doctors.
«Traditional insurance is, if something happens to you, we pay for the medical treatment,» Krishnan said. «The new way is, how do we prevent you from falling ill in the first place. If you lead a healthy life, it also benefits us.»
