Crisis, Microinsurance & Taobao Success by Layla Atya, Digital Transformation Manager - Insurance Markets, ELEKS. The presentation focuses on crisis-driven insurance innovation. And the emergence of microinsurance and technologies that emboldened Chinese economic success.

1. Crisis,
Microinsurance &
Taobao Success
Layla Atya, Digital Transformation Manager - Insurance Markets at ELEKS

2. CRISIS AND HUMAN RESILIENCE
May 2003
(1 month before Taobao was launched)
2014
2018
Taobao Villages:
China
Jack Ma motivated the Alibaba team
to stand firm inn the face of SARS

3. WHAT IS MICROINSURANCE?
Microinsurance
is the protection of low-income
people (those living on between
approximately $1 and $4 per day
(below $4) against specific
perils in exchange for regular
premium payment
proportionate to the likelihood
and cost of the risks involved.
Licensed
Insurers
Finance
Institutions
Community
based
organizations
Micro
insurance
E X A M P L E S
Everything that can
be insured on ‘micro
level’ + microfinance
Usage based auto insurance
Crop insurance
Disability insurance
Natural disaster insurance
Livestock/cattle insurance
Funeral/Burial insurance
Credit-life insurance

4. Access to resources
Group support
Accumulation of
social capital
Reduction of
vulnerability to
private borrowing
Access to
microfinance
Increased income
Savings
Dept repayment
Increased
independence
Educated
decision-making
Lowering expenses
Educated next
generation
Better healthcare/
life expectancy
Asset acquisition
Better life choices
EFFECT OF MICROFINANCE/MICROINSURANCE ON SOCIAL ECONOMY

5. CRISIS DRIVEN
ECONOMY:
CHINA
Alibaba Group
worth over
$80 Billion USD

6. Platform
AI Technology
Digital
Intelligent
Ecosystem
Alibaba Group
TAOBAO/TMall Ant Financial Alipay
299 Million Active Users Daily 1.2 Billion Active Users Annually 520 Million Active Users …
Online Machine
Learning
Predictive modeling based
on sequential data
Transfer
Learning
Using pretrained models to
adjust & test other models
Deep
Learning
Solver problems when
using diverse/ instructed/
inter-connected data sets
Artificial Neural
Networks
Learns and models
non-linear and complex
relationships
Reinforcement
Learning
mimics how human brain
learns through experience
APSARA OS
AliCloud Dev
organizes data centers into a
computational engine that
can process over 175,000
E-Commerce Brain Ali Xiaom
(Ali Assistant)
customizable chatbot
available to call merchants to
customize their own customer
service department
Personalized
Store Front
tailored to consumers
according to their interest &
activity elsewhere
Cianiao
Al determines faster & more
efficient routes; Al predicts
the best size of packaging for
ordered items
Ali Smart Supply
Chain
Helps offline/online
merchants to forecast
product demand
Brain (ET)
Predicts voting behavior &
helps improve traffic flow in
the city of Hangzhou, China
Content
consumption
Real-time onl.
data
• past/recent
data
• browsing
• commenting
• bookmarking
consumers
needs/
purchasing
behavior
Deep
Learning
Manual
selection of
patterns
NowPast

7. CONCLUSIONS
Crisis makes us resilient
New ventures emerge
New technologies
conquer the market
How are YOU shaping
Post-Covid Future
State of Microinsurance Regulation in 2018