DigitalCFO Newsroom | 5 April 2022
Hong Kong’s ARTA TechFin and China’s Digital Technology of Insurance today announced their partnership to deliver a Greater Bay Area technology-driven insurance and wealth management resource.
Hong Kong’s ARTA TechFin (00279.HK) (“ARTA”) and China’s Digital Technology of Insurance (“DTI”) today announced their partnership to deliver a Greater Bay Area (“GBA”) technology-driven insurance and wealth management resource. The alliance will immediately focus on the GBA insurance brokerage industry by delivering proprietary sales-focused SaaS system, tech-enabled sales support and training services, and plans for an insurance technology innovation centre in the GBA by 2022Q3.
The ARTA and DTI partnership plans to revolutionize how traditional insurance brokers serve high net-worth clients by enhancing their digital competitiveness. The partnership will enable agents and brokers to streamline their business processes and save time on transaction processing by modularising insurance policy data and applying advanced actuarial modelling and data analytical capabilities from ARTA/DTI. Both parties are committed to offering customers with one-stop wealth management solutions including insurance as well as other Hong Kong financial products and services. Through customer resource sharing and technology empowerment, the goal is to speed up the company’s insurance brokerage business development and revenue growth.
Fully compliant with all cross-border regulations, the innovative new ARTA/DTI resource will deliver a variety of co-branded products and services to the end-customers, agents and brokers.
Key advantages of the ARTA-DTI strategic partnership include accessing to one of the most comprehensive cross-border insurance databases, significant reductions in policy processing times and insurance technology innovation in GBA.
DTI’s insurance database spans 30 years of historical life insurance product data in mainland China. Data scope includes life insurance saving products, protection-based insurance products, and insurance products issued under provincial social security fund regulations.
DTI is currently the only China-based technology company that has completed data collection, design and structuring of Hong Kong-based insurance policies that are most favoured by Mainland clients. The ARTA/DTI partnership aims to deliver products that greatly improve efficiency and productivity in insurance sales by shortening policy transaction processing time from two weeks to one to two hours.
Mr. Eddie Lau, Chief Executive Officer of ARTA TechFin said today, “ARTA aspires to transform traditional financial ecosystem via technology innovation such as Blockchain application and process automation. Our strategic partnership with DTI delivers China cross-border resource and experience. Clients will enjoy personalized, immersive and innovative services in insurance and wealth management. Our digital business solutions will empower agents and brokers and digitise customer preferences and profiles with a goal of better serving customers’ needs. Our ultimate goal is to speed up the company’s insurance brokerage business development and revenue growth through customer resource sharing and technology empowerment.”
Mr. Leo Lou, Chief Executive Officer of DTI said today, “DTI has always been committed to elevating the insurance industry through actuarial and data technology. We offer innovative services across actuarial consultation, data structuring, professional training and business support. We believe these will strengthen, standardize and evolve the life insurance industry in the GBA.” Previously General Manager, Noah Glory Insurance Broker, Lou is a pioneer in the Chinese actuarial industry and brings a wealth of experience in insurance actuarial, sales and operations.