Regulator wants insurers and banks to do more in 5 pillar areas

China: Markel announces new appointments

...Technology, where he was cyber insurance product director. Prior to that, he spent six years at Chubb Insurance, where he wrote various classes of financial lines, such as cyber, D&O, FI and PI....

Australia: General insurance body outlines AI-related risks and opportunities

...Strengthening protections around AI must start with sharpening or otherwise adjusting existing regulatory frameworks, says the Insurance Council of Australia (ICA)....

Australia: More investment needed to underwrite Australia's future

...technology when implemented poorly or maliciously can cause substantial harm. “The Institute supports...

Thailand: Regulator and general insurers launch database to promote industry development

...Thailand's insurance regulator, the Office of Insurance Commission (OIC), has launched an insurance database system (IBS) in collaboration with the Thai General Insurance Association and general insurance companies....

MENA: Digital life insurer HAYAH shares insights into regional insurance developments

...technology and artificial intelligence (AI)....

Asia: Sun Life unveils new critical illness protection plans

...technology advances every day, the success and survival rates of cancer treatment are increasing. However, cancer patients are more likely to get heart attack or cardiovascular disorders than non-can...

India: Life insurance industry to surpass US$216bn by 2028, forecasts GlobalData

...technology to improve services with the use of mobile apps and chatbots. Insurers' adoption of technologies like AI, blockchain, and machine learning is aiding in the faster processing of claims,...

Asia: CFOs debate IFRS17 and AI in Singapore

...;Technology in this area has evolved tremendously over the last few years. I can see a lot of financial planning improvement projects being started this year, and with the benefit of IFRS17 and IFRS9...

Bahrain: Insurers tackle electric vehicle issues

...technology....

Almost 85% of supply chains can't respond to disruptions in 24 hours

...technology’s potential to turn the tide, with 97% saying better orchestration tools would have a modest (44%) or significant (53%) impact on supply chain performance....

Malaysia: Zurich and GXBank forge 10-year partnership

...technology and data-driven insights, GXBank will identify customer pain points, and work with Zurich Malaysia to co-create innovative digital insurance products that are simple, user-friendly and aff...

Hong Kong: Wellness InsurTech company teams up with health insurance broker

...technology solutions in employee benefits broking to drive value to our clients’ annual employee benefits spend. Combining our cutting-edge flexible benefits management platform with MixCare&rs...

Australia: CALI signs on global tech leader Equisoft as first corporate partner

...technology solutions to help solve the most complex challenges facing the insurance and wealth management industries....

UAE: Anoud Tech launches operations in the emirates

...technology transformation among insurers in the UAE and the broader region. He added: “A growing number of insurance companies in the UAE and the GCC at large are looking to shift to modern IT...

Australia: CALI launches partnership drive

...technology leaders as we continue to grow our Partner Program network.” Joining the programme, Equisoft plans to lev...

UAE: Global Association of InsurTech Professionals launched in Dubai

...technology sector. Conference delegates were told that the insurance sector in the region is ripe for disruption with emerging trends like digitalisation holding significant sway. Experts said if ins...

Inflation main driver for rising cargo crimes

...technology to facilitate access to cargo and deployment of countermeasures to security devices. BSI practice director Tony Pelli said, “Cargo theft is a problem that costs companies t...

Climate change could spread malaria risk to new countries

...technology solutions imminent over the next few years that will allow significant mitigation of this risk in a company workforce. We still rely on age-old interventions.”...

Hong Kong: FTLife to change name to Chow Tai Fook Life Insurance

...technology sector and a liquid portfolio of equities and bonds. FTLife, incorporated in Bermuda with limited liability, is a wholly-owned subsidiary of NWS Holdings, which in turn is a...

Morocco: Insurers tap digital technology to crack down on fraud

...technology including artificial intelligence. The insurers also access images of damaged...

Hong Kong: Manulife and Standard Chartered announce bancassurance partnership for private banking

...technology platforms. The new collaboration will further strengthen the relationship between the two firms and provide financial protection for more clients from different segments....

Malaysia: New InsurTech platform receives approval to start ops

...Technology Regulatory Sandbox. It is a product of Censof Maal, a subsidiary of public-listed financial solutions provider Censof Holdings. insureKU...

Ping An's 1Q2024 financial results dented by snowstorms and lower investment yields

Asia: Composite insurance pricing dips by 2% in 1Q2024

...technology, with significant business interruption (BI) exposure. Highly CAT-exposed geographies,...

Turkiye: Regulations needed to govern use of equivalent parts in vehicles

...Technology in a move that...

Qatar: Central Bank promotes digital insurance

...technology....

Insurers must react to demographic changes in healthcare

...technology as part of our solutions to help prevent and postpone illnesses,” he said. Post-COVID bounceback a major factor for inflation...

Insurers optimistic on AI impact on underwriting quality

...technology innovation such as cyber threats and emergence of generative AI, and regulatory complexity. Capgemini research shows industry executives cite significant organisational barriers...

Insurers plan to invest $5m in AI in 2024

...Technology shows that many of these decision -makers have nearly doubled the AI spend in their budgets over the past year – the average projected investment this year per respondent was $2.5m....

Australia: Wotton + Kearney appoints new special counsel

...technology....

Japan: Tokio Marine expands digital talent development courses

...-technology Promotion Agency formulated the Digital Skill Standards, defining five types of human resources necessary for promoting DX. Among these, the development of business architects, who can pla...

UAE: Insurance players gear up ahead of nationwide implementation of mandatory medical insurance scheme

...technology to enhance efficiency and transparency. Through automated online underwriting, the platform utilises advanced algorithms to assess risk factors and determine eligibility in real time, ensu...

Insurers focus on "motor insurance +" ecosystems

...technology, laser radar, Internet of Vehicles, and other related technologies, driving capabilities are becoming increasingly mature, which not only reduces insurance claims arising from accidents bu...

China: Insurers and lenders urged to increase support for manufacturers

...Technology and the National Development and Reform Commission, said the country would focus on key tasks to strengthen financial support for the manufacturing industry....

Philippines: Insurance regulator orders mandatory publication of list of licensed life agents

...technology to facilitate access to information by the public. Life insurers have to publish the register of licensed agents on their websites....

India: Emergence and growth of insurance lines will require additional capacity

...technology and innovation, India’s increasingly liberalised insurance sector is on an upward trajectory: India is predicted to have the fastest-growing insurance sector of all G20 countries in...

India: Max Life Insurance grows assets under management

...technology.  Max Life’s investment management strategies also helped drive the growth, the company said. It ha...

Insurers plan to invest $5m in AI in 2024

...Technology shows that many of these decision -makers have nearly doubled the AI spend in their budgets over the past year – the average projected investment this year per respondent was $2.5m....

Amendments to Vietnam law ensures insurer financial sustainability

...technology in insurance business activities: This added principles, requirements, subjects and forms of online providing insurance services and products. Mic...

Australia: New research project to test if financial rewards encourage young drivers to drive more safely

...technology to see what works. Anything that has the potential to improve driving behaviour and reduce road accidents is worth trying....

Thailand: General insurers expected to enter period of consolidation

...technology systems. Therefore, it is believed that there will be more mergers and acquisitions from now on. “Small and medium-sized...

Insurance brokers confront climate challenges and digital evolution at 12th Asia Brokers' Summit

...technology shaping and supporting ideas. “Environmental risk has gotten more challenging than before. Climate change is evolving and the world is getting ho...

NFRA's 4-tier supervisory framework reaches counties

...technology, improvement in county-level transport links and better streamlining, their function was reduced and in the latest round of reforms, it was determined that they should be abolished and rep...

2 InsurTech intermediaries float shares on Nasdaq

...Technology offered 2m ordinary shares at $5.00 per share for gross proceeds of $10m. The company’s shares made their trading debut on Nasdaq on 28 March 2024. It intends to use the IPO proceeds...

Taiwan: 3 April 'quake insurance claims unlikely to exceed losses chalked up in 2016 tremblor

...technology and science sectors play in Taiwan’s overall economy, combined with large insureds purchasing adequate insurance protection, with the vast majority of these exposures ultimately bein...

Cyber insurance: Risks and trends 2024

...technology. Global industries are increasingly dependent on IT, IoT, operational technology and digital services, such as cloud computing, each of which represent a critical part of the supply chain...

China: Ping An receives Low Risk ESG rating again

...technology development committee further enhances its privacy management. On the business ethics front, Ping An has assigned the responsibility for managing business ethics and anticorruption to the...

India: Technology adoption changes competition in motor insurance industry

...technology to improve customer experience and gain market share....

Unlocking Growth: Fanhua's Future in China's Brokerage Landscape

...Dive into our discussion with Fanhua Inc's Director & Chief Strategy Officer, Mr. Ben Lin, as he unveils how AI is transforming insurance sales. Learn about Fanhua's leadership in setting industry trends through its technology-focused platform, its agents' creation of digital content, and its forward-thinking strategy for regional growth....