Perfios triumphs Zurich Innovation Championship in Indonesia
Perfios triumphs Zurich Innovation Championship in Indonesia | Insurance Business Asia
Insurance News
Perfios triumphs Zurich Innovation Championship in Indonesia
Company’s health claims analytics solution highlighted
Insurance News
By
Roxanne Libatique
Perfios Technology Solutions has received recognition for its health claims analytics solution, Perfios Acclaim, at a ceremony hosted by Zurich Asuransi Indonesia in Jakarta on April 30.
Key attendees included Benny Jioe (head of digital transformation, Zurich), Daniel Susanto (digital project manager, Zurich), Amitabh Singh (chief business officer, APAC & EMEA), and Mahendra Ramaiyyah (director, insurance business acquisition, APAC).
Zurich Innovation Championship
The Zurich Innovation Championship is a global competition organised by Zurich Insurance, one of the leading insurers with a presence in over 215 countries.
The annual event seeks start-ups that focus on both profitability and social impact, encouraging the creation of innovative services beyond traditional insurance products.
Selection process for Zurich Innovation Championship
Companies were evaluated on their ability to deliver solutions that balance profitability with social betterment. The focus was on addressing major industry challenges with innovations that can change market dynamics.
Perfios named Indonesian winner of Zurich Innovation Championship
Established in 2019, Perfios has grown rapidly in Southeast Asia. The company is backed by major investors, including Bessemer Venture Partners, Warburg Pincus, Kedaara Capital, and Ontario Teacher’s Venture Growth. Recently, it raised $80 million in its latest funding round. Its clients include top global banks and insurers.
Perfios said winning the Zurich Innovation Championship is a significant achievement that highlights its impact in the insurance industry, particularly in mitigating claims fraud.
“We are honoured to receive this recognition from Zurich Asuransi Indonesia. Perfios Acclaim embodies our vision to provide insurers with cutting-edge technology that simplifies their operations and protects against fraud,” said Amitabh Singh, chief business officer at Perfios Insurance International.
What is Perfios Acclaim?
Perfios Acclaim addresses the challenge of claims leakages in health insurance, which cost the industry up to $28 billion annually due to fraudulent or ineligible claims.
The offering combines claims digitisation and fraud detection into one solution, enabling straight-through processing and automatic adjudication. This reduces processing times from over a week to just 30 minutes and has saved up to 5% in claims payouts in regions like Vietnam, Malaysia, and Indonesia.
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