AIA implements state of the art advanced insurance analytics solution for its operations in Sri Lanka

AIA Insurance Sri Lanka PLC selected pre-built Insurance Analytics (IA+) from GrayMatter Software Services for their Sales & distribution channel with the aim of sharpening their strategic initiatives towards better customer experience and effective distribution channel management. Notably, GrayMatter has implemented its Insurance Analytics (IA+) Solution at AIA Bhd. Malaysia in the recent past.

From L- R : Chandri Gunawardhana- Founder & Principal Consultant of Global Business Counselling, Vikas Gupta – CEO & CTO at GrayMatter, Shah Rouf – CEO at AIA Insurance PLC. Sri Lanka, Naushad Khan – SVP & Head Insurance Analytics at GrayMatter, and Rajeev Arora – Data Scientist at GrayMatter.

Mr. Chandana Jayasooriya, Director IT & CIO, AIA Insurance Lanka PLC, stated, referring to the successful implementation of the IA+ solution at AIA, that “I am very happy about that experience. It has been a few months now (since go-live) and we are very optimistic about the way forward”, “GrayMatter brought in best practices from other mature markets and were strong enough to make us understand important aspects of how we should look at data analytics”, and acknowledged GBC’s role by concluding “Global Business Counselling has always been with us looking into where we need support and managing expectations at each stage of the project providing great value additions”.

The IA+ Solution from GrayMatter has benefitted insurance companies in terms of improving top line growth & operational efficiency. The project at AIA Sri Lanka primarily focused on Tied Agency channel and the scope included data integration with multiple source systems, development of a centralized data warehouse and implementation of role based dashboards for the complete sales Hierarchy, and also covered Sales planning and Forecasting module.

Mr Vikas Gupta, CEO at GrayMatter said “We are happy to associate with AIA Sri Lanka in their endeavor towards building most productive distribution channel. We are partnering with AIA Sri Lanka to leverage their potential with cutting-edge technology.” He also mentioned “The scorecard approach of IA+ dashboard will enable the line managers to identify problem areas very quickly and take corrective action. The Sales Planning & Forecasting module of IA+ will help them plan their New Business more accurately and track the execution which can lead to higher activity and productivity”.

Mr Chandri Gunawardhana, founder CEO and Principal Consultant of Global Business Counselling stated “The fact that AIA a global insurance giant would select IA+ for their operations in Sri Lanka is a testament to the cutting-edge capabilities that IA+ offers and we are happy to have played a pioneering role in introducing advanced insurance analytics to the Sri Lankan insurance sector”.