PR93436

HONG KONG, Dec. 2, 2021 /PRNewswire=KYODO JBN/ --

Qumata (formerly known as HealthyHealth), a global company transforming the

insurance industry ecosystem with a machine learning and artificial

intelligence (ML/AI) underwriting solution, entered into an agreement to

provide its services across Asia to AIA Group Limited (1299.HK), the largest

independent publicly listed pan-Asian life insurance group.

The agreement will enable AIA to incorporate Qumata's ML/AI underwriting

solution in its markets across the region. This has already been deployed in

AIA Korea. The solution will be available through several distribution

channels, covering agency, bank partners as well as online channels.

Qumata is transforming the traditionally long and sometimes cumbersome process

of underwriting, usually conducted through long questionnaires and medical

exams, for life and health insurers. Once Qumata's solution is integrated into

an insurer's backend system, it will allow insurance policy applicants to

connect their activity data recorded through smartphones and wearable devices

to the insurer's systems. The solution will perform risk assessment on policy

applications in a much shorter timeframe than traditional assessments,

including the risk of diagnosis for over 800 conditions. This saves hours on

the application process, creates efficiencies for the insurer and a seamless

and secure experience for applicants.

Luca Schnettler, Co-founder and CEO of Qumata, said, "The agreement with AIA is

another powerful milestone in the acceleration of the digital transformation of

the life and health insurance industry. Asia is at the forefront of this trend,

and we are honoured to be working closely with AIA."

About Qumata:

Qumata (formerly known as Healthy Health) has offices in London, Hong Kong,

Shanghai, Tokyo & Singapore.

Qumata is focused on transforming underwriting for life and health insurers,

retaining the same level of accuracy, whilst improving customer experience and

helping insurers realise new revenue opportunities. Qumata uses digital data to

calculate the risk of diagnosis for over 800 conditions, along with Extra

Mortalities and Morbidities, saving applicants hours filling out long

questionnaires or visiting the doctor.

www.qumata.com

For more information, please contact:

Jane Hodgskin: jane.hodgskin@paradigmconsulting.com.hk

Tim Nicholls: tim.nicholls@paradigmconsulting.com.hk

SOURCE: Qumata