Singapore Business Awards 2020

6 APAC / 2020 Singapore Business Awards 7 APAC / 2020 Singapore Business Awards , , Aligned Business is a digital insurance solutions provider responsible for building and launching Origami, a cloud-native, end-to-end digital core insurance platform for insurance clients to launch their insurance products to market, via any digital channel, from real- time sales through to seamless customer lifecycle services. Origami is live today in Asia and Australia, and soon to launch in the UK. Chief Executive Officer and Co-Founder, Susan He, tells us a little more about Aligned Business and how it operates. “We are a small company with solutions for billion-dollar global insurers,” she begins. “It is a huge challenge to win their trust and confidence. We were selected by the most admired insurer in the world - MetLife to participate in their global digital accelerator and, who has allowed us to work with them on POC and Pilot to win confidence and approval for eventually using Origami as their cavAsia Pte Ltd Aligned Business Best Full Service Insurance Platform 2020: Origami Best Cleanroom & Exhaust Systems Provider - Asia Jan20138 Jan20004 The roots of cavAsia Pte Ltd can be traced all the way back to four of the most traditional plant engineering and construction companies in Germany. With such a rich history behind it, it’s no surprise that cavAsia has grown into one of the more innovative facility systems provider, able to supply whatever is required to its clients. We dug a little deeper to find out more about what is on offer to this company’s clients. When established in November 2007, and made operational in January 2008, cavAsia’s role in Singapore was already strong. The key personnel within cavAsia had a lot of design and construction experiences not only in the Singapore market but also in Malaysia. This enables cavAsia to adapt at a much faster pace than many companies which would take years to acquire. Gathering a wide spectrum of know-how from across the building and facility engineering sectors, has enabled the company to focus its efforts in a way that is both effective and ground-breaking in its approach. The level of professional competence not only leads the talented team to find innovative engineering solutions for their clients, but also guarantees success particularly in multi-disciplines and multi-trades projects where cavAsia can truly shine with her engineering capabilities and provide value-add solutions to solve challenging problems. cavAsia could operate as a general Mechanical and Electrical Turnkey contractor or as a specialist trade contractor undertaking specific packages which includes engineering services, procurement and construction. cavAsia core competence is in the area of mechanical dry and wet (HVAC systems), electrical and controls, process systems, exhaust and scrubber systems. cavAsia has also the technical capacity to design and build all sorts of cleanroom systems, which are controlled environments with low level of pollutants such as dust, aerosol particles and chemical vapors. These cleanrooms are typically used in laboratories, scientific research centres, wafer manufacturing facilities in the electronic and solar renewable energy sector as well as in hospital, pharmaceutical and other high-tech industries. A major aspect of cavAsia’s success is in the way the company invests in their staff and team members. The senior staff provides guidance and motivate the team members. Whenever opportunities arises, employees were sent to attend training and courses to upgrade their capabilities and to better equip them on the job. cavAsia also provides an exceptionally positive and systematic work environment. This not only allows for personal fulfilment but leads to staff working more productively. What really sets cavAsia apart from its competitors is that cavAsia with its competence workforce, is able to design and construct systems which are technically complex and demanding, while the teams that execute these designs are able to do so with full understanding. The A pioneering digital insurance platform that enables product underwriters to flexibly create and innovate any insurance product for sales automationwithout a line of code, Origami has recently been named Best Full Service Insurance Platform2020. Contact Details Company: Aligned Business Email: [email protected] Web Address: Contact Details Company: cavAsia Pte Ltd Contact: Josef Klebert Website: agile digital insurance solutions. Aside from that, we are continuing to innovate to broaden our agility beyond product automation to auto-renewals, auto-claims and interactive insurance - paving the way to allow insurers to innovate towards new insurance risk undertaking and true connected service deliveries in the near future.” The firm’s offering, Origami, is rated highest amongst other comparable platforms where, unlike other platforms, Origami has no tech limitations for end-to- end life, non-life and commercial insurance digital operations. Instead, Origami has no limitation of countries and regulatory compliance limitations, as Susan tells us more about it. “Origami’s unique value propositions are already proven with our insurance clients. We need to scale our success to more insurers which we are working very hard towards via seeking strategic partners. This includes big consulting houses or tech consulting firms who have access to insurance clients, but may not have the nimble and agile product like Origami. “In the digital world, insurance profitability is no longer about keeping customers in the dark and hoping they won’t make a claim.” “We want Origami to be insurers’ choice for their core digital insurance operations through which they can truly deliver their value propositions of having the most relevant insurance coverage for their customers at the right moment, delivering trusted, highly transparent and speedy insurance services to any customer segments.” There are certain trends emerging in the industry, and indeed in Singapore, as the country is viewed as the tech hub in Asia with lots of government support for start-ups similar to us. “Many start-ups in this field are deploying peripheral tech for core insurance operations, such as chatbot, data analytics, AI for fraud preventions” Susan is keen to highlight. “Few are touching the deep core insurance tech because it is very complicated and indeed very hard for insurers to make such huge and hard step to replace their dinosaur core insurance systems. As a result, insurers and insurance intermediaries alike are still operating on their legacy systems with APIs connect with easy to build frontend to jump start digital transition. But that is not a full digital nor sustainable solution, as many industry leaders point out. “The complexity of, and cost for, change plus the experience of insurers have invested in too many systems that don’t actually work or work so well, have meant that they are extremely risk-averse and cautious of adopting new tech or using new providers particularly small providers like us. It is extremely hard to overcome these challenges for us to gain their trust and willingness to use our solutions even though founders come from working for global insurers in insurance management and insurance tech development for over 40 years! It takes time but time is what we don’t have as a small company. Because Origami’s broad and deep applications, we can offer it to smaller or new insurance players who have less legacy challenges and more willing to embark on brand new and super agile tech enablers like Origami.” Despite new start-ups emerging all the time, Susan and the team at Aligned Business are not concerned and future is looking very bright indeed for the firm. “We have been active in participating in insurtech revolutions,” says Susan, proudly. “We have been selected by Plug and Play in several of their insurtech programmes in Asia and Japan where they expose us to digital innovation initiatives by leading insurance companies including Willis Tower Watson, MSIG and Sequis, and investment communities. We are also proudly invested by TechStars.” experience design and construction team work very closely hand-in-hand to ensure all aspect of the projects are properly carried out according to plan. As a result, cavAsia is able to execute fast-tracked projects without compromising quality or safety. The need to invest in expertise when working on complex projects is paramount, and few companies come with as much experience as cavAsia. Since their inception, there have been very few situations where cavAsia has not been the ideal choice as a project partner.