iiG Launches Subsidiary Company iiV Unveiling Moverse Insurtech Platform to Transform the Insurance Industry
22 Aug 2023
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iiG, a leading technology consulting firm in the digital age and a digital transformation service provider to full-service businesses, has introduced "iiV," its subsidiary, along with the "Moverse" product, a digital solution for the auto insurance industry. This move signifies their commitment to advancing comprehensive digital solutions and enhancing expertise and service experience in the insurance industry, ultimately strengthening their leadership in digital transformation.
Mr. Somchai Mekasuvanroj , CEO of iiG and Chairman of iiV, emphasized that with over three decades of experience and expertise in providing digital technology services, iiG has been instrumental in leading Thai organizations into the digital era across various industries. They've been able to address the unique needs of businesses and adapt rapidly to a changing world with efficient, cutting-edge technology. Recognizing the growth opportunities in the insurance industry, iiG established iiV to develop a comprehensive digital insurance solution in 2023. They've created a centralized platform for insurance businesses, both large and small, to enhance their operations and reduce costs through the use of technology.
Furthermore, iiV, a subsidiary of iiG, is dedicated to designing and developing digital insurance products that span across various domains. These include motor insurance, health insurance, non-motor insurance covering accidents and natural disasters. They have integrated advanced technologies such as Artificial Intelligence (AI) in various forms, including image processing, voice recognition, and data analysis, into their operations and product offerings. This strategic incorporation of AI enhances their ability to provide high-quality services and cutting-edge solutions in the insurance industry.
iiV's inaugural product, "Moverse," is a platform solution tailored for the auto insurance industry. It covers the entire insurance process, from sales and vehicle inspections to claims processing. Moverse effectively addresses the needs of insurance companies, brokers, and all industry stakeholders, including policyholders, auto repair centers, and aims to elevate the overall customer experience within the insurance sector.
iiV's first feature in service is the "Motor Inspection" service, which utilizes AI technology with an impressive accuracy rate of up to 97% when assessing vehicle damage. This process is user-friendly, straightforward, and significantly reduces the time required for scheduling vehicle inspections. It differs from traditional vehicle inspections in that insurance companies and brokers can create and send inspection links to customers or inspectors via SMS. Once customers or inspectors receive an SMS, they can immediately conduct vehicle inspections on their smartphones without the need for software installation. AI controls image quality, angles, lighting, and stability to ensure accurate and high-quality photos. Additionally, real-time approval tracking is available via smartphones for insurance companies and brokers. The Moverse platform not only cuts travel costs and inspection time but also leverages high-precision AI technology to provide insurance companies with high-quality images, reducing the risk of errors such as unclear or incomplete photos. Furthermore, AI can assist in damage assessment and price estimation. iiV began offering the Moverse service for vehicle inspection functions to large insurance businesses in January 2026, receiving positive feedback. The company plans to expand its auto insurance sales and claims services within the current year.
The "Moverse" platform developed by iiV for motor insurance is a central, configuration-based platform that can be customized to meet the specific needs of different service users, whether they are insurance companies or brokers, regardless of their size. It operates on a "Pay Per Use" model, reducing service costs significantly by eliminating software licensing fees and the need for consulting services for system development. Importantly, it serves as an end-to-end platform, supporting the customer experience at every stage of the insurance process.
Historically, most insurance industry solutions were designed to accommodate specific organizations. However, in the current economic landscape, characterized by intense competition, technological disruption, and the impact of COVID-19, customer behaviors have shifted. Organizations are now striving to maximize customer satisfaction while optimizing costs and utilizing data for digital marketing activities that cater to each customer group's unique lifestyle, offering a 360-degree approach. The Moverse platform serves as a shared platform accessible to all organizations, making it the solution for every business in the insurance industry.
Mr. Somchai stated that the Moverse platform is a critical component of the company's vision to lead in the insurance technology (Insurtech) and healthcare technology (Healthech) sectors in Thailand and the ASEAN region.
