Bank of China enlists Milliman and CoverGo to build motor platform | Insurance Business Asia

Bank of China Group Insurance (BOCG Insurance) has partnered with international consulting firm Milliman and insurtech firm CoverGo to streamline its motor insurance platform and customer experience. Milliman will implement new rates for BOCG Insurance's motor products using advanced actuarial and machine-learning techniques. CoverGo will provide its no-code insurance platform to speed up creation of products, boost digital distribution capabilities and improve policy and claims administration through automation. BOCG Insurance said the partnerships will allow it to gain a key competitive advantage in the motor insurance market by launching products that fit customer's needs at a much faster rate, while…