The strategic collaboration aims to provide comprehensive travel protection for Hong Kong travellers

HONG KONG, Oct. 22, 2024 /PRNewswire/ — Tune Protect Re Limited (“Tune Protect”), the global travel and lifestyle reinsurance specialist, in partnership with bolttech Insurance (“bolttech”), the Hong Kong general insurance arm of international insurtech, bolttech, launched AirAsia Travel Insurance for Hong Kong customers on AirAsia Berhad (“AirAsia”) flights. This is made possible through AirAsia Berhad, the licensed corporate agent of bolttech Insurance in partnership with Tune Protect Re Limited, the insurance programme manager of AirAsia. 

AirAsia Travel Insurance is available to purchase via the AirAsia website, AirAsia Move Mobile App and Tune Protect AirAsia website for customers departing from Hong Kong on all AirAsia flights. Customers can choose between the Lite Comprehensive Plan and the Plus Comprehensive Plan, for benefits like personal accident coverage, trip cancellation, baggage and flight delay coverage, and 24-hour Worldwide Travel Assistance.

This initiative is part of Tune Protect’s strategic plan to expand its regional presence and offer comprehensive and affordable travel protection for its customers. By partnering with bolttech Insurance, Tune Protect aims to meet the evolving needs of travellers in Hong Kong. This collaboration is a synergy of bolttech’s local market reach and expertise and Tune Protect’s ability to provide comprehensive yet affordable travel insurance.

Alister Musgrave, Regional General Manager for Hong Kong & Taiwan at bolttech, said, “We’re thrilled to provide Hong Kong travellers with convenient protection and peace of mind through AirAsia Travel Insurance. Our collaboration with Tune Protect highlights our commitment to improving our partners’ offerings and providing customers greater choice, ease, and a superior customer experience.”

“We are excited to launch the new travel insurance product in partnership with bolttech Insurance for AirAsia guests. This initiative enhances our service offering for Hong Kong travellers and aligns with our strategic vision for regional expansion, establishing ourselves as a leader in the travel insurance industry. This strategic expansion is key to our goal of becoming a global player in the travel sector. We look forward to enhancing the travel experience of AirAsia guests by providing them with comprehensive insurance coverage, ensuring peace of mind during their journeys, ” said Janet Chin, Chief Executive Officer of Tune Protect Re.

A key feature of this travel insurance is the On-Time Guarantee, which provides a payout if customers experience a delay of at least two hours from their original or rescheduled departure time advised by AirAsia.

For more information on AirAsia Travel Insurance, visit https://www.tuneprotect.com/airasia/hong-kong/en/home/.

-ENDS-

The above information is intended as a general summary of the AirAsia Travel Insurance product. Please refer to the policy wording for the detail terms, conditions and exclusions of the product. AirAsia Travel Insurance policy is underwritten by Bolttech Insurance (Hong Kong) Company Limited (“bolttech Insurance”), which is authorised and regulated by the Insurance Authority of Hong Kong to carry on general insurance business in Hong Kong. bolttech Insurance is responsible for providing your insurance coverage and handling claims under the policy.

Air Asia Berhad is a licensed insurance agent of bolttech Insurance for the distribution of general insurance products in Hong Kong.

About Tune Protect Group Berhad

Tune Protect Group Berhad (Tune Protect) is a financial holding company listed on the main market of Bursa Malaysia. Aspiring to be the lifestyle insurer that everyone loves in the region, Tune Protect aims to simplify the insurance experience leveraging digital and offer affordable, yet comprehensive protection plans and propositions to suit individual and corporate needs in the Health, Lifestyle and SMEs pillars. Tune Protect has established a global presence across 30 countries through its general insurance and reinsurance subsidiaries, joint venture companies, as well as via strategic partnerships with local underwriters in these markets.

For more information on Tune Protect, visit their website at https://www.tuneprotect.com/ 

About Tune Protect Re Limited 

Tune Protect Re Ltd (“TPR”), a wholly owned subsidiary of Tune Protect Group Berhad, was established in 2011 specialising in non-life reinsurance businesses, particularly in Travel and Lifestyle. Its strengths in Travel and Lifestyle are demonstrated through successful partnerships, facilitating market activation for its partners, notably within the airline sector. TPR strategically partners with underwriters across 49 countries, complemented by a comprehensive network of Third-Party Administrators (TPAs).

TPR offers an array of innovative travel products including parametric travel solutions, health products and various lifestyle offerings. Additionally, through its retakaful window, TPR actively underwrites and supports reinsurance arrangements for Hajj and Umrah travel products in collaboration with insurance partners across diverse markets. Beyond its reinsurance services, TPR is backed by strong digital capabilities and technology to enable seamless digital experiences for its partners, encompassing the entirety of the sales process to claims management.

About AirAsia 

The birth story of AirAsia, the aviation arm of Capital A, is an industry legend. It started back in 2001 when Tony Fernandes and Kamarudin Meranun bought an ailing airline with two aircraft and 200 staff and turned it into the fourth largest in Asia, with more than 200 aircraft and 21,000 staff across Malaysia, Thailand, Indonesia, the Philippines, Cambodia and more. With affordability, inclusivity and accessibility underpinning the operation, AirAsia has carried more than 800 million guests to over 130 destinations in its network. With the mission to serve the underserved, it has connected people and places, and has largely been credited for democratising air travel in the region with its famous tagline ‘Now Everyone Can Fly’.

About bolttech Insurance

Bolttech Insurance (Hong Kong) Company Limited (“bolttech Insurance”), is an established general insurance company authorised by the Insurance Authority in Hong Kong. bolttech Insurance offers a wide range of general insurance solutions to meet the evolving needs of individual and business customers. bolttech Insurance is part of the international insurtech group, bolttech.

For more information, please visit www.bolttechinsurance.hk

This press release is jointly issued by bolttech and Tune Protect. For interview opportunities or more information please contact via email, call, text or WhatsApp:

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SOURCE bolttech

SEOUL, South Korea, Oct. 21, 2024 /PRNewswire/ — Doctorpresso’s study to detect depression from user-generated diary text data was published in the September 2024 issue of the Journal of Medical Internet Research (JMIR) in recognition of its excellence. JMIR noted the “new approach of Doctorpresso’s digital mental health screening.”

According to Doctorpresso (CEO Whanbo Jung), a new AI technology has been developed to detect depression by utilizing user-generated diary text data. The study suggests an innovative approach for the early diagnosis and treatment of depression, which is increasing worldwide.

Depression is a serious social problem around the world, causing a decrease in job productivity and a high burden of disability. However, existing depression screening tools have limitations in objectivity and accuracy, so new methods were needed to compensate for this. The study developed an AI algorithm to detect depression based on user’s diary data obtained through Doctorpresso’s own diary application and verified its usefulness.

According to the study, GPT 3.5 and GPT 4.0, AI-based large language models (LLMs), can effectively detect the risk of depression by analyzing the user’s diary text. Specifically, for AI developed using LLM models, text-based depression detection accuracy of 90.2 percent and specificity of 95.5 percent were achieved. Through this, Doctorpresso has secured technology to screen for depression early based on user-generated diary data.

“Diary writing is known as a therapeutic tool that promotes emotional expression and self-reflection, and this study confirmed that such textual data can be very useful for early diagnosis of depression,” said Dr. Daun Shin (Chief Medical Officer of Doctorpresso, Department of Psychiatry at Korea University Anam Hospital), who led the study. “The importance of research on qualitative digital expression as well as quantitative indicators will increase.”

Doctorpresso’s technology using this study is expected to contribute greatly to early detection of depression and helping better treat and prevent it.

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SOURCE DoctorPresso

Move will enable financial institutions that lend to smaller businesses to access the same loan servicing technology used by the world’s leading banks

BEIJING, Oct. 22, 2024 /PRNewswire/ — Finastra today announced its Loan IQ Simplified Servicing solution at Sibos 2024. The solution takes the rich functionality available in Finastra’s Loan IQ and combines it with a streamlined user interface that’s optimized for servicing high volume bilateral and SME loan portfolios. As a result, Finastra is bringing together the functionality that financial institutions need to service their entire loan portfolios in one integrated system.

Financial institutions adopting Simplified Servicing will benefit from unified portfolio management with a single, efficient modern lending platform that simplifies the user experience and improves the speed and transparency of loan servicing to customers of all sizes. By automating previously manual and disjointed lending processes, the solution delivers crucial efficiencies, resulting in improved data accuracy and shorter lead times. This integrated lending journey functionality breaks down silos and reduces operational risk.

“Historically the loan market has been slow to innovate, making the loan servicing function reliant on manual processes that are inefficient and error-prone – particularly when it comes to servicing high volumes of smaller loans,” said Veena Rao, Head of Corporate Lending at Finastra. “The Simplified Servicing solution provides a way to service SME loans within Loan IQ, opening more routes to finance for small and medium-sized businesses. The move reflects our commitment to Open Finance and helping smaller businesses access the banking services they need to prosper.”

“Corporate and commercial lenders often face challenges in managing their loan portfolios due to siloed operations, a lack of digitization, outdated and fragmented technology, with isolated systems supporting different product types and offering little integration. This can lead to operational inefficiencies, risk exposure, difficulties in attracting and retaining the best staff and the prospect of losing customers to competitors,” explained Patricia Hines, Head of Corporate Banking at Celent. “The ideal lending platform creates an integrated end-to-end customer journey, with seamless integration from origination to servicing.”

To learn more about Simplified Servicing, visit Finastra at Sibos 2024 on stand G30.

About Finastra
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of Open Finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world’s top 50 banks. For more information, visit finastra.com.

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