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FWD Life Insurance wins Best FinTech award at HKICTA 2017

FWD DrivamaticsFWD Life Insurance Company has won the Best FinTech award at the Hong Kong ICT Awards 2017 for its FWD Drivamatics driving application.

The application is capable of recording each ride in detail, rating the safe driving quality based on a wide range of factors and evaluating user driver skills according to over 40 elements.

At the event for the FinTech stream of the HKICTA awards, six financial services providers were recognized for their technology applications.

The gold award for payment innovation went to Bank of China (Hong Kong) for an application using blockchain in mortgage property valuation processes. The bank demonstrated how the technology can speed up the valuation and loan approval process and enhance operational efficiency.

Neat Ltd and Clare.AI Ltd won the silver and bronze awards respectively. FWD Drivamatics also received the gold award in the banking, insurance and capital market category, with the silver awarded to Seasonalife, the bronze awarded to Prive Services and a certificate of merit presented to Axisoft APAC.

“These innovative FinTech products and solutions not only provide added convenience and breakthrough to consumers and financial institutions locally, they also make Hong Kong a stronger position as a FinTech hub regionally and globally,” HKMA chief executive Norman Chan said.

Hong Kong Institute of Bankers (HKIB) CEO Carrie Leung added that the award’s “judges believe bringing new opportunities to Hong Kong with creative and practical technological development can enhance the co-operation between industries and achieve synergies.”