Hong Kong’s ARTA TechFin and China’s Digital Technology of Insurance (“DTI”) today announced their partnership to deliver a Greater Bay Area technology-driven insurance and wealth management resource. The alliance will immediately target the GBA insurance brokerage market by providing proprietary SaaS systems that are sales-oriented, tech-enabled support and training services. It also plans to establish an insurance innovation centre in GBA by 2022Q3.
DTI and ARTA plan to revolutionize the way that traditional insurance brokers provide high-net worth clients through digital competitiveness. Agents and brokers will be able to streamline their business processes, save time and reduce transaction processing costs by modularising insurance policy information and using advanced actuarial modeling from ARTA/DTI. Both parties have pledged to provide customers with one-stop wealth solutions that include insurance as well 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.
The innovative new ARTA/DTI resource is fully compliant with cross-border regulations. It will offer a range of co-branded products, services, and agents to end customers, brokers, and agents. The ARTA/DTI strategic alliance offers several key benefits, including access to the most extensive cross-border insurance database, significant reductions of policy processing time and insurance technology innovation in GBA. DTI’s insurance database spans 30 years of historical life insurance product data in mainland China. Data scope covers life insurance savings products, protection-based products, and products issued under provincial social insurance fund regulations.
DTI is currently all that exists. ChinaTechnology company located in Canada that has successfully completed data collection and design. Hong KongMainland clients prefer Mainland-based policies. The ARTA/DTI partnership aims for products that dramatically improve efficiency, productivity, and profitability in insurance sales. It reduces the time it takes to process policy transactions from two weeks to one or two hours.
Mr. Eddie LauChief Executive Officer at ARTA TechFin, Today, “ARTA aspires to transform traditional financial ecosystem via technology innovation such as Blockchain application and process automation. DTI’s strategic partnership delivers. China cross-border resource and experience. Clients will be able to receive innovative, personalized and immersive services in insurance and wealth administration. 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 LouDTI Chief Executive Officer, Today, “DTI has always been committed to elevating the insurance industry through actuarial and data technology. We provide innovative services in actuarial consulting, data structuring and professional training. We believe that these services will improve, standardize, evolve and strengthen the life insurance sector in the GBA.“Lou was previously the General Manager at Noah Glory Insurance Broker. He is an innovator in the Chinese actuarial market and has a wealth experience in sales, operations, and actuarial.