Alipay Supports Growth Opportunities & Digital Innovation Malaysia

As part of Alipay’s commitment to supporting innovation and
talent cultivation in Southeast Asia, the Company today launched its
roadshow for the Alipay-NUS Enterprise Social Innovation
Challenge (“ANSIC”). ANSIC is a joint initiative by Alipay, the world’s
largest mobile and online payment platform operated by Ant Financial
Services Group (“Ant Financial”), and NUS Enterprise, the
entrepreneurial arm of the National University of Singapore (“NUS”). The
roadshow was held at WORQ Subang in Shah Alam, Selangor, where Alipay
shared its experience of how technology can be used to solve real world
problems with start-up entrepreneurs in Asia.

Alipay’s Senior Algorithm Engineer Xin Guo, explained to a crowd of
Malaysian start-up entrepreneurs how he and his team developed the idea
of using AI to make car damage claims more efficient for insurance
companies, reduce costs and most importantly, increase convenience for
car owners.

On a rainy evening in September 2016, Xin Guo recalled being involved in
a car accident that caused some minor damages to the vehicle. He then
waited for 30 minutes for his insurance company to dispatch a claims
adjuster, who had been delayed from handling other similar accidents.
Despite the wait, it had ultimately, only taken a few minutes to file
the claim. While the average waiting time for human claim adjusters to
arrive at minor car accidents in China is 30 minutes, in congested
cities such as Beijing and Shanghai, car owners may have to wait for

This unpleasant experience made Guo wonder: If AI could be used to
automate this common process, wouldn’t that be a win-win for insurers
and car owners?

At Ant Financial, every team member is empowered to leverage the power
of technology to solve real world problems. Guo pitched his idea to his
superior and quickly obtained approval to start building a feasible
solution from scratch, using the company’s resources. Using AI, machine
learning and computer vision, Xin Guo and his team worked day and night
to develop a technology service that became known as Dingsunbao, or
“Loss Assessment Master”. In August 2017, after eight months of
development and testing, the first official version of Dingsunbao was
launched. The service allows car owners to upload images and videos of
their damaged vehicles, and have their claims processed within seconds.
Through technology, insurance companies are able to save significant
resources by freeing up human claim adjusters to focus on more
complicated accidents. Customer satisfaction also significantly improved.

In China, it has been difficult for insurers to strike the right balance
between operational costs and customer satisfaction. Most insurance
companies barely break even or in fact lose money from their automobile
insurance business due to labor costs and fierce competition. This has
now changed with the introduction of Dingsunbao. As of May 2018,
Dingsunbao helped insurance companies reduce their costs of claims
handling by over RMB 1 billion, and saved claim adjusters 750,000 hours
of time through the automation of the claims process.

Xin Guo’s session at the ANSIC roadshow sparked lively
discussion from participating start-up entrepreneurs.

Separately, Dr. Melissa Foo, VP of Social Innovation of Agensi Inovasi
Malaysia, moderated a panel discussion entitled, “Running a Sustainable
& Scalable Social Enterprise in Malaysia.” Panelists included Redza
Shahid, CEO and co-founder of Grub Cycle, a social supermarket that is
dedicated to reducing food waste and Suzanne Ling, co-founder of the
Picha Project, a social enterprise providing sustainable catering
services to help refugee families in Malaysia.

Discussing the role of technology in addressing social issues, Redza
Shahid commented, “Food waste is a global issue and we want to help.
Grub Cycle works with restaurants and supermarkets to buy food that they
can’t sell then distribute the food at a discount to low income groups,
through online and offline channels. It really makes a difference when
our suppliers and consumers can see in real-time how much they have
saved by using Grub Cycle.”

Susanne Ling explained the reasons she started Picha Project, “The value
of social enterprise is in solving real issues. Picha wants to help
refugees in Malaysia have a way to support their families before they
are able to return to their home country. Our chefs are all refugees in
Malaysia who would otherwise have little chance of getting a job. We are
focusing on using technology to bring out the stories of our chefs,
making corporate catering more convenient and marketing more effective.”

Xin Guo said, “It’s very exciting to see so many young, energetic and
ambitious start-ups in Malaysia today. Alipay is also a start-up
company. We hope by our own experiences and working with
partners here, we can contribute to supporting local innovation and the
growth of more indigenous start-ups that use digital technology to
address real world problems and benefit more people.”

The Malaysian roadshow is part of a series of events in Southeast Asia
to help raise awareness of the Alipay-NUS Enterprise Social Innovation
Challenge and to inspire new ideas and innovation in the region. In
Malaysia, Ant Financial supports its partner Touch n’ Go with
technological capabilities and experience in implementing a mobile
payment platform to offer innovative payment solutions and other
inclusive financial services.

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