Aviva-Cofco launches big data collaboration with Tencent

December 22 2017 by InsuranceAsia News Staff

Aviva-Cofco Life Insurance and Tencent Financial Cloud have launched a strategic partnership to jointly set up a big data lab in China.

The project will focus on combating financial fraud through financial cloud computing, providing artificial intelligence (AI) in customer service and improving risk management.

“Our strategic partnership combines the power of Aviva-Cofco’s financial data with big data analytics expertise of Tencent Financial Cloud,” said Richard Yu, Aviva-Cofco’s president. “This synergy will disrupt the financial services industry and provide convenient, fast, comprehensive and attractive financial products and services to corporate and individual customers.”

The lab plans to work in anti-fraud, AI in customer service and risk control systems.

Through financial cloud computing, Aviva-Cofco will use Tencent Financial Cloud’s big data analytics to identify financial fraud and improve customer’ risk models in ways that can be directly applied in underwriting.

Using Tencent Financial Cloud’s insurance customer service robot, Aviva-Cofco will perform multi-faceted application trials in its comprehensive smart system, including using big data to analyse frequently-asked questions of customers, smart association and information exchange.

Aviva-Cofco will leverage Tencent Financial Cloud to improve risk control models and multi-dimensional customer profiling, which will be applied in underwriting and claim assessment processes.

 

 

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