SYNOPSIS

Insurance industry is a competitive industry which constantly evolves by embracing state-of-the-art technologies with the sole purpose of providing the best services to its customers. One of the key strategies is the implementation of Robotic Process Automation (RPA) to streamline as-is business processes that are both labor intensive and time-consuming. With RPA underway, what are its impacts on people, processes, and performances? What are the challenges in developing a RPA workforce? Once developed, how to maintain the RPA so it runs at an optimal level?

On top of improving efficiency via RPA, another priority that many insurance companies are focusing on is the ease of international money transfers involving premium payments/collections and claims. This is especially relevant to multinational corporations (MNC) that purchase insurance for not only the parent companies but also the subsidiaries located in multiple countries under different jurisdictions. This long-term challenge maybe overcome with the introduction of Blockchain. A blockchain is a digitalized and decentralized ledger where all participants can keep track of their transactions without the supervision of financial intermediaries (Investopedia, 2018). What are the advantages of Blockchain as compared to traditional currency transactions? How will Blockchain change the future of insurance industry?


BIODATA OF SPEAKER

1.    Mr. Daniel Pu Chuan Hsian

Mr. Daniel Pu Chuan Hsian is a corporate member of IEM. He has more than 16 years of experiences in software development, research and teaching in the ICT industries and in the tertiary education sector respectively. Presently, he is a senior Engineer in Mimos Berhad, a national R & D centre in ICT. He is responsible for developing the advanced information security systems in information security lab for governmental and commercial sectors. Prior to joining Mimos Berhad, Mr. Daniel was an experienced lecturer in Taylor's University, he taught actuarial science students in the American Degree Transfer Program (ADP) of Faculty of Liberal Arts & Sciences. Furthermore, in his professional capacity, he represents IEM to serve in (TC/G/16) Technical Committee on the Internet of Things and related technologies at Sirim Berhad. For education background, he obtained Master of Engineering in Telecommunication from Multimedia University, 2005, B.Eng. Electronics and Computing from Nottingham Trent University, UK, 2001.

2.    Ms. Michelle Cheng

Michelle Cheng graduated from University of Michigan, USA in 2014 with Bachelor of Science in Actuarial Mathematics and Economics and from INTI International University, Malaysia/University of Hertfordshire, UK in 2016 with Master of Business Administration/Master of Arts in Management Studies. She is currently a Senior Business Analyst in AIG Shared Services (M) Sdn Bhd with over 2 years of experience. Apart from her responsibility of generating operations performance reports for the global business, she is actively involved in enhancing the existing processes of report creation using programming languages like Visual Basic for Applications (VBA) and Structured Query Language (SQL). She has also taken up additional projects to assist business partners and colleagues to simplify their daily tasks using automation. In May 2017, she was awarded the Lean Six Sigma Yellow Belt Certification. Starting February 2018, she has been appointed as the lead trainer to deliver center-wide VBA training classes on a weekly 2 hours basis.