Merimen Expands Its Artificial Intelligence (AI) - based Analytics Software-as-a-Service (SaaS) Offerings for Insurers

Unless otherwise defined, capitalised terms used herein shall have the meanings ascribed to them in the announcement of Silverlake Axis Ltd dated 31 May 2017 (“Merimen TrueSight Analytics”).


The Board of Directors of Silverlake Axis Ltd (“SAL” or “the Group”) is pleased to announce that Merimen Ventures Sdn. Bhd. (“Merimen”), the insurance processing wholly-owned subsidiary of the Group, has expanded its suite of analytics solutions with the roll out of a new product – TrueSight CMF (“Claims Management Filter”) and has since acquired two new customers for this product, one each in Indonesia and Malaysia.


TrueSight CMF provides real-time AI assistance to claim managers, empowering them to process claims more efficiently, reduce claim cost, and help prevent potential fraud. For every claim processed in Merimen, the decisioning recommendations from TrueSight CMF are seamlessly integrated into logical points along the Merimen claim system workflow. TrueSight CMF will also be continuously strengthened with actuary advisory based on outcomes from user-machine interactions, updated business rules, learning points from statistical analysis and benchmark data. This ensures that the decisioning recommendations continue to improve with business environment, customer portfolio composition and industry benchmarks.


Serving customers with its eClaim and ePolicy platforms since 2000, Merimen is now an Insurtech market leader in providing collaborative and information exchange platform for the insurance industry. TrueSight, encompassing a suite of analytics solutions, was first launched in 2017 to meet the growing need for data-driven and timely decision by Merimen’s customers.


BY ORDER OF THE BOARD


Kwong Yong Sin
Group Managing Director

7 May 2018


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