Prepared by: Lee Sze Yuan
Universiti Teknologi Malaysia (UTM) student from School of Computing, Faculty of Engineering, Lee Sze Yuan won the 2nd Runner-Up of Insurtech Hackathon on 3rd October 2021.
Insurtech Hackathon is an open-category 3-days hackathon co-organised by FWD Startup Studio and 1337 Ventures. The purpose of this event is to discover innovative entrepreneurs and/or coding experts interested in addressing insurance problem statements. This hackathon requires participants to come out with innovative ideas that can disrupt the Malaysia Insurance industry.
The team – Team Palmon consists of Lee Sze Yuan (Universiti Teknologi Malaysia), Khor Chin Yi (Nanyang Technological University), Tan Guan Yu (University of Malaya). And they are mentored by Associate Professor Dr Yeong Che Fai from the School of Electrical Engineering, Faculty of Engineering, UTM.
After 3 days of the hackathon, the team managed to took home RM 5,000 cash prize and Amazon Web Service Credits worth USD 5,000 after a fierce competition held virtually on Zoom.
They have developed a B2B solution that aims to help Insurance Companies automate the claim processing and also detect fraudulent claims. Their solution is called DCLAIM. It is a claim management system that utilizes the power of Machine Learning and Optical Character Recognition(OCR) technologies to process the claims received by insurance companies.
“This is a stressful but exciting journey. Although it is only 3 days, I had doubted myself several times. But thanks to my teammates and mentor who trust and support me throughout the whole journey.”, Sze Yuan said. He added, their team was very grateful to have Associate Professor Dr Yeong Che Fai to mentor and guide them. Dr Yeong is from Centre for Artificial Intelligence & Robotics (CAIRO) and School of Electrical Engineering, Faculty of Engineering, Universiti Teknologi Malaysia.
Congratulations once again to our student and his team.
More about CAIRO UTM:
CAIRO UTM (Centre for Artificial Intelligence & Robotics) is one of the leading Centres of Excellence in Malaysia focusing on Artificial Intelligence, Robotics, Control and Automation. Established in 1997, CAIRO UTM has produced numerous talents and significant research outcomes on AI & Robotics. In 2018, CAIRO UTM was awarded as one of the Competence Centre by the Ministry of International Trade and Industry MITI. UTM has strong linkages and networking with academic institutions, government sectors and industrial sectors, on national and international level.