...Less than a third (27%) of respondents in Singapore report high readiness from a data perspective to adapt, deploy, and fully leverage AI technologies, according to the Cisco report, titled "2024 AI Readiness Index - Hype Meets Reality"....
Source : AIRPlus | 03 Apr 2025...The 1 April reinsurance renewal season saw mixed outcomes due to continued uncertainty around war-related losses and macro volatility....
Source : AIRPlus | 02 Apr 2025...A moderation in Japanese property-catastrophe reinsurance market pricing was observed at 1 April, according to Howden Re. The global insurance intermediary group said there were 10-15% risk-adjusted reductions on catastrophe excess-of-loss programmes, whilst global specialty and direct and facultative reinsurance placements varied by class....
Source : AIRPlus | 02 Apr 2025...Amid a changing geopolitical landscape, the majority of insurers (52%) in a poll are very concerned about the impact of inflation on their portfolios according to Goldman Sachs Asset Management....
Source : AIRPlus | 02 Apr 2025...While conditions vary greatly by geography, healthy levels of capacity are making facultative reinsurance a more effective and attractive tool for Asia Pacific's growing insurers, says Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions....
Source : AIRPlus | 01 Apr 2025...More than eight in 10 Indians think that a life cover of less than 10 times their annual income is adequate for financial security. The actual coverage held by Indians is just 3.1 times their income, significantly below the industry-recommended 10x benchmark, according to a comprehensive study titled "Underinsurance Survey 2025"....
Source : AIRPlus | 01 Apr 2025...Indian employees are silently battling a mental health crisis, with limited access to affordable treatment due to gaps in insurance coverage, according to a new report by global insurance broker Marsh McLennan....
Source : AIRPlus | 31 Mar 2025...The recent reduction in the United States Agency for International Development's (USAID) budget has led to several projects being cancelled worldwide, as well as funding freezes and even the closure of some programmes or organisations....
Source : AIRPlus | 31 Mar 2025...Government initiatives and assistance have been central to the improved state of the Australian health insurance sector over the past 25 years, according to S&P Global Ratings director, financial services ratings, APAC Michael Vine....
Source : AIRPlus | 28 Mar 2025...In 4Q2024, insurance markets began to show signs of softening with "more moderate premium increases being applied to many risks", according to Gallagher's "Insurance Market Update -- March 2025"....
Source : AIRPlus | 27 Mar 2025...Following a second consecutive year of robust financial performance in 2024, Europe's four largest reinsurers are well positioned to navigate potentially less supportive market conditions in 2025, says a new report by Fitch Ratings....
Source : AIRPlus | 25 Mar 2025...A staggering 85% of Malaysians are at risk of a legacy crisis due to the lack of a financial legacy plan, says Sun Life Malaysia's report titled "Insure or Unsure: Sun Life Insurance Literacy Survey 2025"....
Source : AIRPlus | 25 Mar 2025...As the battle for top talent intensifies, SMEs in Hong Kong and Singapore are placing more emphasis on recruitment, training and retention. In both markets, the proportion of SMES concerned about talent and manpower retention increased in 2025 compared to 2024....
Source : AIRPlus | 25 Mar 2025...Survey results published QBE show that attention to workplace safety and health (WSH) is on the rise among SMEs in Hong Kong but dipping in Singapore....
Source : AIRPlus | 25 Mar 2025...Survey results published QBE show that executives and decision makers in SMEs in Hong Kong and Singapore harbour concerns about a wide range of business risks, yet very few have insurance policies to protect their companies against the risks....
Source : AIRPlus | 25 Mar 2025...Motor theft claims are increasing significantly in some parts of Australia according to a new survey report released by the Insurance Council of Australia (ICA)....
Source : AIRPlus | 24 Mar 2025...Organisations that trade with counterparts in connector countries -- such as Vietnam, Mexico, South Korea and Hungary -- to circumvent existing or anticipated trade controls, or have suppliers doing the same, may be prone to greater trade policy-induced disruption in the months and years ahead, according to a new report....
Source : AIRPlus | 24 Mar 2025...South and Southeast Asia, as a region, has been facing an increase in wet and extreme wet climate which presents an increase in the likelihood of extreme flooding, according to a new report by WaterAid, an international non-governmental organisation focused on water, sanitation and hygiene....
Source : AIRPlus | 21 Mar 2025...Insolvencies in Asia Pacific are anticipated to increase by +5% in 2025 (+1% without China) followed by +6% in 2026 (-4% without China), according to Allianz Trade in its latest Global Insolvency Report released earlier this week....
Source : AIRPlus | 20 Mar 2025...Microinsurance carriers achieved the "highest rates of penetration among low- and middle-income populations in Asia and the Pacific, according to the report titled "The Landscape of Microinsurance", published by Microinsurance Network earlier this year....
Source : AIRPlus | 14 Mar 2025...The majority of Australians have paid out-of-pocket for desexing procedures for pet dogs and cats, forking out A$289 ($182) on average, according to a new study by Compare the Market, a price comparison platform....
Source : AIRPlus | 14 Mar 2025...Energy and natural resources companies have said that they face challenges getting the right insurance, according to Willis' "Global Clean Energy Survey 2025" released on 12 March....
Source : AIRPlus | 14 Mar 2025...AI is projected to contribute up to $1.1tn in annual value to the global insurance sector, with its positioning as a key driver of productivity and growth, according to Truong Hoang Phuc, FPT Software managing director of Global Insurance & Finance, FPT Corporation....
Source : AIRPlus | 14 Mar 2025...Global carrier M&A dealings slumped to a 16-year low in 2024 as insurers put the brakes on dealmaking amidst uncertainty and volatility, according to a new report by Clyde & Co....
Source : AIRPlus | 13 Mar 2025...There are rising levels of affluence that continue to be relevant across markets that Singapore-headquartered Great Eastern operates in, according to the company's group CEO Greg Hingston....
Source : AIRPlus | 07 Mar 2025...Interest in asset-intensive reinsurance as a solution is broadening across Asia, Aon's strategic growth leader for Life and Health Reinsurance Solutions, APAC, Danny Alexander has said....
Source : AIRPlus | 07 Mar 2025...More than seven in 10 (72%) of insurance executives in the Asia Pacific who participated in a new survey on how they perceive their industry in a time of growing risk and opportunity are of the opinion that the insurance industry has "an ethical obligation" to close the protection gap which is currently estimated to be $1.8tn....
Source : AIRPlus | 06 Mar 2025...New research commissioned by IBM found that Singapore companies view AI as a promising opportunity, with increasing interest in investing to boost ROI and drive innovation....
Source : AIRPlus | 05 Mar 2025...With the advent of AI tools, the construction sector has a transformative opportunity to extract valuable insights, patterns, trends and actionable information from large datasets, even when almost 90% of the data is unstructured (e.g. emails, PDFs, images and videos). On the flip side, risks exist in using AI in the sector....
Source : AIRPlus | 05 Mar 2025...India's non-life insurance premium growth is expected to be bolstered over the medium term by the country's economic development, rising insurance demand and regulatory initiatives which are designed to increase insurance penetration and promote financial inclusion, according to AM Best associate director Chris Lim....
Source : AIRPlus | 04 Mar 2025...The rapid growth of cyber insurance has prompted insurers to be cautious about overexposing themselves to high-risk areas....
Source : AIRPlus | 03 Mar 2025...With the high cost of living and a strong emphasis on work-life balance, employees in Singapore expect comprehensive benefits beyond just salary....
Source : AIRPlus | 03 Mar 2025...As the insurance landscape shifts with advancements in technology, evolving client demands, AI innovation and sustainability, the inclusion of diverse perspectives has never been more critical, according to a white paper published earlier this year by Solera, titled "Shifting Gears - The Role of Women in Shaping the Future of Automotive"....
Source : AIRPlus | 28 Feb 2025...The IRDAI is working on guidelines for a comprehensive insurance fraud monitoring framework for the insurance sector to identify, assess, and mitigate fraud risks effectively across the insurance industry....
Source : AIRPlus | 27 Feb 2025...The Insurance Council of Australia (ICA) has called for a comprehensive range of initiatives that will protect hundreds of thousands of Australians living in harm's way of natural disasters. The new initiatives also propose to improve insurance affordability for homeowners and businesses....
Source : AIRPlus | 27 Feb 2025...The rise in ESG investing has increased concern over businesses overstating the sustainable credentials of their products and services without a credible basis for doing so - also called "greenwashing" or "climate-washing". As more companies and funds are required or expected to disclose the environmental impact of their activities and investments, the days of 'getting away' with greenwashing are numbered....
Source : AIRPlus | 26 Feb 2025...Across Asia, women feel their financial security has improved compared to previous generations, with 65% saying their finances have improved relative to when their mothers were their age, according to research findings released byglobal financial services provider Sun Life....
Source : AIRPlus | 26 Feb 2025...The government, takaful operators and distributors play an important role in the ecosystem to grow the takaful market in Malaysia, according to Principal Islamic CEO Izad Sallehudin....
Source : AIRPlus | 25 Feb 2025...A study by Equisoft and LIMRA in collaboration with Universal Conversion Technologies, 'Assessing Data Readiness for AI in the Life Insurance Industry', stated that "all companies agree that AI is an important element of their digital transformation roadmap"....
Source : AIRPlus | 25 Feb 2025...Increasing longevity and falling fertility mean the world is facing a new demographic reality - a growing elderly population with fewer working-age people to support it, according to a new report by Geneva Association....
Source : AIRPlus | 20 Feb 2025...The insurance-linked securities (ILS) market has reached new heights, with capacity hitting a record $107bn by the close of 2024. AM Best ILS director Matthew Tuite recently shared insights into the factors fuelling this extraordinary growth, from strong investor returns to rising CAT bond issuance and an evolving appetite among investors....
Source : AIRPlus | 20 Feb 2025...India's motor insurance sector has witnessed remarkable growth, yet a significant challenge remains: there is a large number of uninsured vehicles on the country's roads....
Source : AIRPlus | 20 Feb 2025...Mental health literacy in Singapore has improved with more people being able to correctly identify common mental health conditions. Stigma or negative perceptions towards people with mental health conditions have also eased significantly....
Source : AIRPlus | 20 Feb 2025...Human induced climate change has been found to increase the risk of heat related deaths by 20%, according to a new study by University of Queensland (UQ). Another study by the university has revealed that people living in cities are at a higher risk of dying from heatwaves than those living in the regional areas. The two studies examined the mortality burden of heatwaves in Australia....
Source : AIRPlus | 20 Feb 2025...A recent survey by MDRi, conducted among 1,000 respondents across Hong Kong and Singapore, has shed light on the diverse health and medical insurance needs in these two markets....
Source : AIRPlus | 18 Feb 2025...Aon has released findings from its 2025 Human Capital Employee Sentiment Study....
Source : AIRPlus | 18 Feb 2025...2025 stands out for the insurance industry because of the sheer number of substantive changes in policy and government priorities that domestic and international entities will have to navigate, according to Mr Matt Andrews, APAC managing partner at the international law firm Kennedys....
Source : AIRPlus | 14 Feb 2025...Composite insurance rates in Asia dropped by 3% in 4Q2024, as compared to 4% in 3Q2024, according to Marsh's "Asia Insurance Market Rates: 2024 Fourth Quarter", published in February 2025. Of the countries surveyed, Korea's rates fell the most by 9%, while Taiwan's rates increased by 11%....
Source : AIRPlus | 14 Feb 2025...Climate risk "is systematic, with global effects", according to Ortec Finance investment solutions director Saiyan Raja....
Source : AIRPlus | 14 Feb 2025...The decision by the UK and the US not to sign a declaration at the Artificial Intelligence Action Summit in Paris earlier this week has laid bare the growing divisions over international oversight of the technology. It behooves the insurance industry to be ready for any challenge arising from this situation....
Source : AIRPlus | 14 Feb 2025