SCOR has launched a predictive engine for life insurance operations in Vietnam in partnership with Insmart JSC, the region’s leading third-party administration (TPA) specialist. It was developed by SCOR Digital Solutions, SCOR Life & Health’s digital solutions platform, and BeeTech, its advanced predictive model solution.

This highly sophisticated solution can be tailored precisely to clients' needs, working equally well as a universal-purpose engine and an insurer-specific one. It fully leverages SCOR Digital Solutions’ proven capabilities and client-supported success record in the global market.

“Our latest state-of-the-art engine reflects SCOR Digital Solutions’ global vision to create tailor-made solutions that enhance customer journeys and reduce insurers’ expenses. With the launch in Vietnam, we are bringing our comprehensive product suite concept to the Southeast Asian market,” said David Sütterle, Chief Client Solutions Officer at SCOR L&H and CEO of SCOR Digital Solutions.

Tiger Li, Head of Business Development Asia at SCOR Digital Solutions and CEO of BeeTech, added: “Our new predictive engine provides transformative digital solutions using advanced big data and machine learning techniques, underwriting expertise, claims experience, and robust data. As we extend our reach beyond China, we will continue to focus on fostering meaningful partnership and continuous collaboration with our clients, especially in the underwriting & claims digital landscape.”

SCOR Digital Solutions’ predictive engines offer insurers transformative benefits across the entire insurance lifecycle. With a proven track record of collaboration with over 50 partners in Asia, the SCOR Digital Solutions teams have consistently pushed the boundaries of innovation and operational efficiency in the insurance industry. 
Through BeeTech, SCOR extends these solutions to the dynamic Southeast Asian market, where they:

• Boost Cross-selling & Up-selling, by identifying customers who are more likely to purchase and less likely to lapse. This enables insurers to focus on the most promising prospects.
• Enhance Underwriting and identify claims risk, by distinguishing low-risk customers from high-risk profiles that require more stringent review. This helps insurers to streamline underwriting and claims processes, resulting in greater operational efficiency and cost savings.
• Optimize Agent Performance, by assessing agents’ risk profiles and implementing tailored motivation and performance management strategies.

Yvonne Tay, Head of SCOR’s L&H Southeast Asian Market, commented: “I am delighted to announce the launch of our predictive engine in Southeast Asia. We are conscious that the data environment in this region differs from other parts of the world. After dedicating a full year to training our engine to meet the unique regional business needs, I’m confident in its predictive power and the benefits it will bring to our clients.”

Cheam Teck Eng, CEO of Insmart JSC, said: “Insmart is thrilled to partner with SCOR and to be the first to deliver the predictive engine to the Vietnamese life and health insurance market. By combining our established market knowledge with SCOR’s global expertise and cutting-edge technology, we are confident that we will elevate our market to the next level.”

SCOR’s global ambition to build an AI-powered engine suite extends across the entire L&H insurance solution portfolio, including Velogica, our state-of-the-art automated underwriting suite, and VClaims, our award-winning advance claims automation solution. With the launch of this new predictive engine in Vietnam, SCOR continues to push back the frontiers of insurability and shape the reinsurer of tomorrow.

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About Insmart
Insmart, a joint venture established in 2010 under Vietnam's Law on Foreign Investment, was initially formed by Malaysian and Vietnamese shareholders. In 2021, Sumitomo Corporation invested in the company, further strengthening the company's ownership structure. Insmart provides specialized claims support services related to healthcare insurance and healthcare administrative services for clients of both life and nonlife insurance companies across Vietnam.

About SCOR Digital Solutions
SCOR Digital Solutions is SCOR Life & Health’s digital solutions platform. Drawing on strong technological foundations, it combines SCOR’s industry-recognized expertise and data capabilities to help our clients navigate through and capitalize on the future of underwriting and claims systems, maximizing market potential globally, driving better financial and operational performance, and delivering the best possible customer experience. 
SCOR Digital Solutions is a globally scalable, adaptable and modular underwriting and claims technology platform combining SCOR Life & Health’s core digital assets, including Velogica, our state-of-the-art automated underwriting suite, VClaims, an award-winning digital claims solution, HealthTech, such as our Biological Age Model (BAM) / Good Life, and BeeTech, our advanced predictive model solution.

About BeeTech
BeeTech is SCOR Digital Solutions’ predictive model solution, which specializes in risk control and risk quantification using data, domain knowledge, and machine learning techniques. BeeTech offers leading digital solutions covering the entire insurance business lifecycle in China and is extending its operations into other Asian markets.

About SCOR
As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk”, SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society. The Group generated premiums of EUR 19.4 billion in 2023 and serves clients in around 160 countries from its 35 offices worldwide.