AI has moved from pilot to practice. What was once aspirational is now operational: from claims to billing and from product development to policy administration, insurers are threading AI into core operations.
Against that backdrop, Chirag Shah, Managing Director for Insurance and Asia at SAP Fioneer, shares how the global financial technology provider is enabling insurers to scale AI responsibly, innovating with speed, and building solutions that meet the on-the-ground realities of diverse Asian markets.
What is your strategic vision for how AI will shape the insurance industry in Asia?
Chirag Shah: AI’s impact will be felt across the entire insurance value chain, though not uniformly. I believe AI will become an embedded enabler of insurance, continually enhancing how insurers assess risk, personalize products, settle claims, and serve customers.
Strategically, we aim to support the industry in harnessing AI to deliver localized solutions within a global framework. Our platforms are proven in vastly different markets, from South Korea and Singapore to India and Vietnam, showing we can meet varied regulatory and consumer needs at scale.
How do you combine global best practices with local insight in Asia?
Chirag Shah: We invest heavily in R&D to infuse AI into the core of our insurance solutions; not as a bolt-on, but baked into the design.
AI is evolving fast. It is important to maintain an open platform and ensure our systems integrate seamlessly with emerging technologies and partners. For instance, our core insurance platform integrates with SAP’s Business AI ecosystem, including SAP Business Technology Platform and Joule, SAP’s new AI assistant, so insurers can tap into the latest AI innovations securely.
Being a front-runner in Asia is about relevance as much as robust technology. We localize our approach and work closely with regional insurers and regulators to adapt solutions to local requirements. A great example is our co-development of a Japan edition of our Cloud for Insurance platform with Fujitsu. Japan has unique regulatory and functional needs, so we tailored our core platform with local business content plus global best practices.
By combining global innovation with local insight, we ensure our leadership is not one-size-fits-all, but truly resonates in each market.
What AI-driven innovations are you most excited about?
Chirag Shah: One of the most exciting developments is the launch of the SAP Fioneer AI Agent. It’s a domain-specific AI framework designed to transform how insurers interact with their data and systems. Unlike generic AI tools, the AI Agent is built for financial services and understands the language of insurance: from claims and underwriting to finance and compliance.
Our AI Agent enables business users to interact with systems using natural language, automate multi-step workflows, and gain real-time insights without needing technical expertise. It’s embedded directly into our insurance suite, so insurers can use it to streamline operations, reduce manual work, and make smarter decisions faster.
Beyond the AI Agent, we’ve embedded machine learning (ML) into our claims management module to assist with triage. When a new claim comes in, the system runs through a series of checks and uses ML to predict complexity and liability. What’s critical is that each AI recommendation is explainable. That is, adjusters can see why a claim was flagged, with reason codes and supporting evidence. That transparency builds trust and speeds up decision-making, while ensuring humans remain in the loop to validate and refine results before taking actions.
We’ve also made it easy for insurers to plug in AI for specific use cases with our SaaS-based Cloud for Insurance (C4I) platform, which handles the heavy lifting of security, scalability, and data integrity. This enables insurers to experiment with AI chatbots, predictive analytics, and new product configurations on a stable core.
How do you address challenges like data quality, compliance, and legacy integration?
Chirag Shah: We tackle this on multiple levels.
First, data quality and consistency. AI is only as good as the data feeding it. Many insurers have data scattered across legacy systems, so we’ve made unified data architecture a cornerstone of our platform. All components – policy, claims, billing, payments — feed into a single data model with a subledger behind the scenes. For example, our billing and payment module ensures that every payment entry is tied to the corresponding policy or claim record, giving AI models a complete and accurate view.
Second, regulatory compliance and security are built into our solutions. Insurers are heavily regulated on data privacy and algorithmic fairness. Our systems provide audit trails, role-based access controls, and explainable AI outputs. This helps insurers meet compliance requirements without slowing down operations.
Third, we support modular modernization. Insurers can implement parts of our solution alongside legacy systems. For example, they might retain their existing policy admin system but adopt our claims module for AI triage and workflow improvements. We provide APIs and connectors to sync data between old and new systems. Our cloud deployment options also reduce infrastructure burdens, allowing insurers to run new components in the cloud and connect them to existing environments.
In short, we marry innovation with control: high-quality data, built-in compliance, open integration, and robust governance.
How is SAP Fioneer working with insurers on AI and digital transformation?
Chirag Shah: We firmly believe the best solutions come from building with our customers.
Co-innovation is a core part of our approach. Insurers who co-innovate with us can leapfrog traditional development cycles. Rather than waiting for the next software release, they’re helping shape it and they get solutions finely tuned to their needs.
For SAP Fioneer, this keeps us aligned with real market demands. In Asia’s fast-moving environment, that collaboration can mean the difference between leading or lagging. We’re committed to making sure our customers are on the leading side.
Final thoughts
Whether it’s streamlining core operations with transparent automation or co-creating new insurance offerings through digital ecosystems, the opportunities for insurers in Asia to leap ahead are unprecedented.
With technology leaders like SAP Fioneer paving the way, the insurance industry’s journey toward an AI-empowered future is well underway.
