A Key development was the use of AI to predict lapsed policies, which served the vital purpose of managing our portfolio and mitigating risks. By utilising advanced predictive analytics, our AI model currently forecasts future lapsation with an accuracy of 80%, marking significantly higher levels than traditional statistical methods. This in turn enables the organisation to operate more proactively with targeted interventions to retain the customer base and also optimises resource allocation within our retention teams.
A cutting-edge AI module was also introduced with the aim of identifying fraudulent claims. By automatically detecting potential tampering or fraudulent activity, the module significantly enhances the speed and accuracy of our fraud detection efforts. This not only protects our financial assets but also safeguards the integrity of the claims process for all policyholders. Reducing the incidence of fraud decreases unnecessary payouts and associated costs, ultimately benefiting our policyholders through more competitive premiums. We will continue to leverage on these technologies to revolutionise how we approach our operations and secure a competitive advantage in the market.

We are transforming our customer experience by offering a seamless digital experience through omnichannel platforms. The mobile app, available on Android and iOS, allows customers to manage policies, view payment histories, and access services directly from their smartphones. The online customer portal has been upgraded with a user friendly interface, enabling policyholders to access detailed information, initiate claims, and communicate with customer service.
To further enhance efficiency, Electronic Know Your Customer (eKYC) technology has been implemented to streamline the onboarding process. Digital proposal systems, remote signature capabilities, and online payment facilities contribute to environmentally friendly practices, reducing the reliance on paper.
As part of the company's commitment to sustainability, the Walked-in customer e-receipt initiative replaces traditional paper receipts with electronic versions, supporting eco-friendly practices. Furthermore, the Sales Web platform has been introduced to enhance the efficiency of the sales force. This platform streamlines sales processes and supports a paperless approach to sales management, reinforcing Ceylinco Life's dedication to digital transformation and sustainability.

We implemented a new Document Management System (DMS) to improve efficiency and security in document handling processes. The system includes robust data encryption, secure access controls, and information masking capabilities to protect sensitive customer information. It is fully integrated with other Ceylinco Life systems, ensuring seamless information flow across departments. The DMS also offers centralized storage for efficient retrieval and compliance with local and international data protection regulations. Future enhancements will focus on incorporating artificial intelligence and machine learning technologies to automate document classification and extraction processes.