GrayMatter & Global Business Counselling present challenges and opportunities in insurance and analy

GrayMatter Software Services and Global Business Counselling (GBC) jointly conducted an exclusive event for key executives from the insurance industry recently at Hilton Colombo Residences in Sri Lanka. 

The attendees were C-Suite officers and senior IT/PMO personnel from top tier insurance companies in Sri Lanka such as AIA, Amana Takaful, Janashakthi, Union Assurance (UAL), UAG (now FairFirst), HNB Assurance, NITF and the leadership teams of the Insurance Association of Sri Lanka (IASL) and the Sri Lanka Insurance Institute (SLII). 

As expected, the event turned out to be an opportunity for an interactive exchange of rich insights and valuable knowledge between a distinguished set of industry veterans. Experts from GrayMatter presented insights on new trends in the insurance industry including mobility, big data, analytics, IoT, social media, usage-based pricing, gamification of process, peer-peer insurance and cyber insurance.  

The occasion was also an opportunity to raise a toast to the successful implementation of Insurance Analytics (IA+) solutions at AIA Sri Lanka and Amana Takaful Sri Lanka as well as to celebrate the second anniversary of the fruitful business partnership between GrayMatter and Global Business Counselling.

On this occasion, Amana Takaful CEO Fazal Ghaffoor shared his thoughts on the IA+ implementation, referring to the initiative as “transformational” and stating that “it has been a great enabler, for us it has been a great experience. It has turned the whole tide.” 

He expressed his satisfaction that Amana Takaful, as the first adopter in Sri Lanka, had made great strides since the implementation of the IA+ solution and joked that it was to their competitive advantage as they were ahead of the game in embracing advanced analytics.

AIA Insurance Lanka Plc Director IT and CIO Chandana Jayasooriya via a video interview that was broadcast at the event referred to the successful implementation of the IA+ solution at AIA. “I am very happy about that experience. It has been a few months now (since go-live) and we are very optimistic about the way forward.”  

“GrayMatter brought in best practices from other mature markets and were strong enough to make us understand important aspects of how we should look at data analytics,” he added while acknowledging GBC’s role, stating: “Global Business Counselling has always been with us looking into where we need support and managing expectations at each stage of the project providing great value additions.”

Global Business Counselling Founder and CEO Chandri Gunawardhana summed up the occasion, saying: “GrayMatter has delivered on its promises to the insurance industry of Sri Lanka with their advanced technology. Today we celebrate two years of successful partnership. I would like to take this opportunity to reiterate that great successful partnerships can only be completed with great clientele, and I thank you for placing your trust in GrayMatter and Global Business Counselling.”

GrayMatter Software Services CEO and CTO Vikas Gupta said: “This confluence of seasoned insurance experts was certainly a fitting commemoration of the customer success delivered by GrayMatter in association with GBC. We are thankful to Mr. Gunawardhana and GBC for providing superlative domain expertise and client management which has facilitated our IA+ implementation and successful project closure.”

The event closed with cocktails and fellowship among the industry’s top professionals.