Kenya Reinsurance Corporation (Kenya Re) has launched the Kenya Re AI4Insurance Hackathon 2024, challenging university students to develop solutions that address real-world (re)insurance challenges.
The hackathon has brought together about 100 students with a software development background in their third or fourth year of studies in multiple universities in Kenya.
The top three winners will be awarded cash prizes and a three-month internship at Kenya Re to sharpen their innovations.
The initiative aims at harnessing Artificial Intelligence (AI) to create innovative solutions in:
- Underwriting automation: where the participants will explore ways to streamline and enhance the accuracy of risk assessment processes to improve efficiency and reduce human error.
- Claims processing: where participants innovative solutions can significantly speed up the evaluation and settlement of claims, ensuring that customers receive timely support.
- Customer service operations: where Artificial Intelligence (AI) – driven improvements can lead to more personalized and efficient interactions, elevating the overall customer experience.
Kenya Re Group, Managing Director, Dr Hillary Wachinga, says: “We seek to bridge (AI) talent gap between academia and insurance industry to address everyday challenges in reinsurance, empower efficiency by identifying solutions that streamline operations and develop a community of AI experts dedicated to advancing the insurance industry.
“It also marks a significant leap forward in our industry, showcasing Kenya Re’s unwavering commitment to embracing cutting-edge technology.”
