Swiss Re Beijing Branch is among the winners of the 2020 MAS Global FinTech Innovation Challenge who were unveiled yesterday.
The Swiss Re unit’s winning solution is SRAIRMP (Swiss Re Agriculture Insurance Risk Management Platform), that enables smart and automatic insurance product design and agricultural risk monitoring by leveraging machine learning technics and multi-sources weather, remote sensing and crop data. It provides one stop risk management platform for insurance company, farmer, and government.
More specifically, the reinsurance unit is a winner in the “Global” category of the MAS FinTech Awards.
There are in all 12 winners of the MAS FinTech Awards and three winners of the MAS Global FinTech Hackcelerator that were selected for their solutions that address the challenges faced by the financial industry due to the COVID19 pandemic and climate change. The MAS FinTech Awards as well as the MAS Global FinTech Hackcelerator form the MAS Global FinTech Innovation Challenge.
Both awards were handed out yesterday at the Singapore FinTech Festival x Singapore Week of Innovation and TeCHnology (SFF x SWITCH) 2020.
Mr Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “The Global FinTech Hackcelerator and the FinTech Awards have served as key platforms to identify and recognise innovative, high quality solutions that are able to address real needs in the financial industry. This year, MAS chose the theme of “Building Resilience, Seizing Opportunities, Emerging Stronger” for the FinTech Innovation Challenge, as a clarion call to FinTechs to play a greater role in addressing the generational challenges of COVID-19 and climate change. We are pleased to see this year’s winners demonstrate strong potential in helping the industry tackle these critical issues.”
MAS Global FinTech Hackcelerator
The winners of the Global FinTech Hackcelerator were selected during the Global FinTech Hackcelerator Demo Day, where they had pitched their innovations to an industry panel from around the world. The Local Programme of the Global FinTech Hackcelerator was supported by KPMG Digital Village. The top three teams are (in no order of merit):
Advanced Physical Climate Risk Analytics
MAS FinTech Awards
The winners of the FinTech Awards, supported by PwC Singapore, were selected from a total of 326 submissions from across 55 countries. The twelve winners were selected under four categories – Singapore Founder, ASEAN FinTech, Singapore Financial Institution and Global – by an international panel comprising industry experts across multiple domains. The winners are:
Triterras Fintech Pte. Ltd.
finChat Technology Pte Ltd
Hashstacs Pte Ltd
Trident Platform – End to End Bond Lifecycle in a Box
AwanTunai, Windy Hill Pte. Ltd
AwanTunai digitising supply chain transaction data
Nextbank Cloud ‘Bankin-a-box’
FlexM Pte Ltd.
Agrani Remit App powered by FlexM’s Fintech-as-aService solution
Singapore Financial Institution
Validus Capital Pte Ltd
Validus Credit and Customer Monitoring System (CCAAT)
OverseaChinese Banking Corporation Limited
HealthPass by OCBC
Credit Architecture Programme – Credit eMemo
Swiss Reinsurance Company Ltd. Beijing Branch
SRAIRMP (Swiss Re Agriculture Insurance Risk Management Platform)
AIZEN Global Co., Inc.
ABACUS / Credit Card Payment Fraud Detection System with Deep Learning
Republic of Korea
The Bank of New York Mellon Corporation
Changing the Way Institutional Investors Manage, Monitor & Analyse ESG Factors across their Portfolio