29^th Asia Insurance Industry Awards 2025

HSBC Life Hong Kong (HSBC Life) has been the leading life insurer in Hong Kong for three consecutive years since 2022, receiving more new business premiums than any other insurance company in Hong Kong and highlighting the tremendous trust that customers across Asia have in HSBC Life to be their life partner. This is a testament to its commitment to delivering a customer-centric business model, including enhancing financial inclusiveness, cultivating lifelong wellness and incorporating ESG principles in everything it does.

HSBC Life is entrusted with more than 30% of Hong Kong banking customers’ premiums, and has continued to invest and grow its ability to serve customers in the Greater Bay Area, including through Macau where it has a strong presence and a rapidly growing business.

Besides its business growth and continued strength, HSBC Life ensures that its policyholders and their families continue to receive quality service and protection through its propositions, and has elevated its technological capabilities to enhance processes to meet evolving customer needs.

HSBC Life continues to invest in people, products and services, including offerings in health and wellness, diversifying and transforming its product range and enhancing customer experience through its digital capabilities.

These include the Well+ platform, a brand new HealthPass service to increase customers’ accessibility to quality medical services, a simplified claims process and a new e-Prescription arrangement to create a seamless healthcare journey that delivers medications to the customer’s doorstep within four hours.

The insurer also embeds sustainability and ESG principles, showcasing it across HSBC Life’s brand and operations. It fully appreciates and embraces the value of ESG and the importance that their customers place on this aspect, realising that social resilience helps enable financial goal achievements; that collaboration with NGOs can strengthen community bonds; and that promoting an inclusive workplace culture and developing the next generation of insurers is beneficial not just for HSBC Life itself, but all of its stakeholders.

In the last 24 months, Allianz General Insurance Company (Malaysia) (AGIC) posted an impressive 13.5% CAGR increase in GWP, significantly outpacing the industry average CAGR of 7.7% – according to GWP information from the Insurance Services Malaysia market performance report. This extended AGIC’s market share to 14.8%, and cemented its position as a market leader.

By the end of FY2024, AGIC reached a GWP of MYR3.42bn ($81.13m). The strong growth is driven by motor across both agency and franchise distribution channels. AGIC has contributed about 54% of overall industry motor growth. The high volume of new car sales, reaching a record high of over 800,000 units in 2024, was instrumental in driving AGIC’s motor growth, alongside acquiring market share across all vehicle segments. AGIC was the first to implement the fair and transparent package, complemented by its unique product offerings and exceptional customer care, setting a benchmark in the industry.

AGIC posted a combined ratio of below 90%, which remains below the industry average, mainly attributed to disciplined financial management, technical pricing and underwriting sophistication.

While expanding aggressively, Allianz General also maintained a disciplined approach to portfolio management, avoiding short-term pricing wars. This reflects a sound and sustainable strategy that benefits both customers and intermediaries.

One of Allianz General’s flagship innovations is the Allianz Road Rangers, a 360° motor claims concierge service. Rated 4.5 out of 5 by customers, the service includes a unique fleet – motorcycles, windscreen response SUVs, tow trucks and heavy-duty vehicles – delivering fast, on-site assistance.

In February 2024, the company expanded this suite with Allianz EV Shield, the first on-the-spot battery recharge service for electric vehicles in Malaysia. This ensures EV drivers aren’t stranded, reflecting Allianz General’s ability to anticipate evolving customer needs.

These product innovations are designed to solve real-world problems – not just add features – and have strengthened Allianz General’s position as a customer-first insurer. The insurer has also proven its leadership in risk, claims and governance. Allianz General’s risk and claims management performance is underpinned by data-driven processes and proactive governance.

In 2024, it launched the Allianz Centre for Governance – a research initiative investigating fraud and inefficiencies within the general insurance sector. By publicly sharing findings and advocating for industry-wide reform, Allianz General has positioned itself as a national thought leader committed to advancing transparency and best practices.

Allianz General believes intermediaries are partners in delivering value. Its support model goes far beyond monetary incentives. Since 2021, Allianz General has run an industry-first Facebook Live training platform open to all agents in the market, not just Allianz agents. It now boasts over 19,000 members, providing two training sessions weekly, and a fivefold increase in learning touchpoints.

Training topics cover technical skills, market updates and sales techniques, delivered in real-time with interactive Q&A, recorded sessions and peer sharing. The platform ensures intermediaries remain confident, informed and productive. Dedicated onboarding programmes, branch-level classroom training, and localised modules ensure that intermediaries – regardless of region or experience – are equipped to serve with excellence.

A leader in the Taiwanese health insurance market, Nan Shan Life set out to resolve the issue of the super-aged society in Taiwan.

The company has developed specialised health insurance to support ageing individuals. The “Chang-Ching An-Yi” medical term insurance (SHI) covers hospitalisation and joint replacement – procedures that can cost seniors up to NT$170,000 ($5,600) out of pocket. The plan also incentivises healthy living through wellness bonuses and cashback features. Over 64% of policyholders of SHI are aged 66–75, proving its relevance to senior customers.

In partnership with a well-known magazine, the insurer promoted the concept of “Active Ageing – AA Life”, encouraging the public to prepare for ageing early by planning both financial and physical health from a young age. The campaign sparked widespread media coverage, highlighting Nan Shan’s solutions tailored for the elderly population. Nan Shan Life is also redesigning life insurance products to include a broader range of medical benefits, or to offer early payouts through self-benefit insurance structures, helping policyholders meet the growing medical and long-term care needs of an ageing population.

The insurer also introduced products and services to help with dementia prevention and awareness, and simplified claims for long-term care. To address rising health risks among Taiwan’s adults aged 35 to 55, often referred to as the “sandwich generation”, Nan Shan Life launched a prevention-driven campaign targeting lifestyle-related diseases.

It introduced a cardiovascular-focused insurance product with enhanced coverage for cardiovascular diseases linked to unhealthy lifestyles, and additional subsidies for designated cardiovascular surgeries and medical procedures.

The insurer also launched the “Health Saving” initiative to promote early accumulation of health capital across five vital aspects: individual, lifestyle, enterprise, society and environment. This approach encourages both individuals and organisations to adopt healthier behaviours and proactively manage long-term wellness, positioning health not just as a personal goal but a form of sustainable investment.

Beyond that, Nan Shan Life also addressed health inequality within Taiwan, extending its care to the indigenous villages. Taiwan’s indigenous populations living in remote mountain villages generally lack medical resources and face shorter life expectancy, 10 years below the national average. Since 2023, Nan Shan Life has promoted the “Nan Shan Care for Remote Indigenous Villages Programme,” partnering with hospitals to provide health checks and hygiene education to 10 indigenous communities annually. This initiative aims to narrow the health gap and enhance access to care in remote regions.

The insurer continues to lead Taiwan’s health insurance sector. In 2024, it issued 584,000 spillover effect policies and maintained its top market share in long-term care insurance. Nan Shan Life also became the first Taiwanese life insurer to participate in the United Nations Climate Change Conference (COP). At COP29, the company highlighted the connection between climate change, health and disease risk. As a leader in sustainable health, Nan Shan Life is committed to building a healthier and better future.

Go Digit General Insurance (Digit) has emerged as a trailblazer in India’s non-life insurance sector, transforming a traditionally paper-heavy industry through comprehensive digital innovation across its entire value chain.

Go Digit General Insurance has built a robust tech ecosystem powered by AI and automation. Their AI-based document classification system processed over 200,000 claims and classified 1.98m documents in FY25, significantly reducing manual effort and errors. The Fast Track KYC initiative processed nearly 10m KYCs in FY24-25, with 818,000 completed through expedited mode. Automated bots registered 110,000 claims, streamlining data transfer and accelerating settlements.

In just seven years, Digit achieved extraordinary growth by crossing $1.2bn in revenue, becoming one of India’s fastest insurers to reach this milestone. The company’s Profit After Tax surged 133% year-on-year from $21.8m to $51m, demonstrating exceptional financial performance. Digit built a diverse portfolio of over 85 products and became the 4th largest private motor insurance player with 5.9% market share. The insurer sold 12m policies in FY24-25 alone and has settled 2.94m claims since inception. Their Assets Under Management reached $2.36bn, growing 25% year-on-year, while serving 67m customers. The company maintained 99.54% digital policy issuance and established presence in 98.04% of India’s postal codes.

Digit maintains exceptional operational metrics with a solvency ratio of 2.24x compared to 1.61x previously, alongside a healthy loss ratio of 72.5% and a consistent 97% claims settlement ratio. Their average cashless pre-authorization time stands at 26.93 minutes, well below IRDAI’s 60-minute guideline, with 75% of cashless requests approved in under 30 minutes. Hospital discharge approvals averaged 58.95 minutes, with 65% completed under 60 minutes. Reimbursement claims are settled in 2.43 days on average, with 70% processed within 2 days – far exceeding the 14-day regulatory requirement. Vehicle repair approvals are completed in 15 hours 36 minutes average, with 69% within 12 hours.

Digit distinguishes itself by voluntarily disclosing service-level metrics beyond mandatory requirements, setting new industry standards for transparency and building exceptional customer trust through its customer-first philosophy.

In an era where climate risks, digital acceleration and emerging talent gaps redefine industry norms, the Singapore College of Insurance (SCI) continues to lead with purpose. As Singapore’s national insurance institute – and a trusted partner to professionals in the line and industry players from over 50 countries – SCI delivers more than just programmes.

SCI is building the next generation of professionals who will power a resilient and dynamic insurance future. It is committed to attracting youth to the industry and mid-career reskilling, partnering with local universities and polytechnics. In 2024, it engaged students through nine career events, including the SCI x NUS Insurance Carnival. Its graduate and internship programmes equip young talent with the skills and knowledge to thrive in insurance.

SCI believes that meaningful careers in insurance should begin with awareness, grow through experience, and culminate in leadership. In 2024, it ignited this journey for over 55,000 learners – from students and mid-career switchers to senior leaders – through bespoke programmes that blend industry insight with future-readiness.

Its flagship Insurance LaunchPad programme demystifies the sector for newcomers, offering an immersive overview of key roles and functions. For tertiary students and graduates, its Insurance Springboard (INSPIRE) initiative connects talent with real employers, mapping individual interests to sector needs. These learners aren’t just passing exams – they’re entering the workforce with clarity and confidence.

SCI’s Insurance Management Associate Programme (iMAP) continues to groom high-potential young professionals for leadership in insurance and risk management. Since its inception, iMAP has groomed 327 graduates and career switchers, culminating in their Associateship with the Chartered Insurance Institute (ACII). Two out of five of these graduates now hold leadership roles across life, general, broking and reinsurance companies in ASEAN.

Further, the ASEAN School for Young Insurance Managers (AYIM), trained 89 participants from 10 countries in 2024 on GenAI, ESG integration and data-driven strategy.

SCI’s influence transcends borders by shaping ASEAN’s insurance talent through flagship initiatives, including the ASEAN Professional Insurance Diploma (APID) – unifying professional standards across borders through a harmonised qualification framework, and in collaboration with the ASEAN Insurance Council (AIC), SCI has also developed and delivered impactful ASEAN-wide reinsurance programmes tailored to the region’s evolving needs.

SCI champions flexible, inclusive learning models that adapt to today’s professional lives. Its hybrid learning model enabled 431 candidates to sit for remotely proctored exams in 2024. Many accessed its case-based courses that reflect real-world complexity – from reinsurance and claims fraud to business continuity.

SCI hosted six complimentary market presentations and knowledge sharing sessions, well attended by 932 insurance professionals. It engaged industry leaders to bridge academic learning with real-world insights.

For over five decades, SCI has guided the insurance industry through change – upskilling over 55,000 learners in 2024 alone. From sustainability and digital insurance to attracting talent across generations, promoting financial and insurance literacy to the public and raising professional standards, it remains a trusted partner for industry players from across 50 countries in shaping future-ready insurance professionals and leaders.

Reinsurance Group of America (RGA) has established itself as a global leader in life and health reinsurance, delivering exceptional value through technical expertise, innovation, and client-focused solutions that address the complex challenges facing today’s insurers.

RGA’s Asia-Pacific operations achieved remarkable results in 2024, generating adjusted operating income before taxes of $537m. This record performance was driven by strategic regional diversification, significant growth in asset-intensive transactions, and successful product launches across multiple markets.

RGA demonstrated industry leadership through innovative capital optimization and risk management solutions. In South Korea, the company executed the country’s first-ever cross-jurisdictional coinsurance transaction, reinsuring a $136m in-force life policy block, later expanded by an additional $102m. Japan saw a landmark longevity transaction where RGA reinsured approximately $4bn in individual life annuities for a leading provider. In Hong Kong, RGA secured a $1bn coinsurance agreement strengthening client capital positions. The company also pioneered hybrid reinsurance structures in Malaysia and China, combining multiple coverage types to enhance capital adequacy ratios and expand protection for both biometric and interest rate risks.

RGA led critical illness product development across the region, introducing market-first solutions tailored to customer needs. In India, RGA pioneered coverage for women-specific ailments including maternity complications and newborn congenital illnesses. Hong Kong saw the launch of a CI product eliminating pre-set waiting periods between benefit payments, enabling faster claims processing. South Korea introduced innovative cancer coverage extending through five-year remission periods, which major insurers subsequently adopted, driving sustained business growth. RGA also developed comprehensive insurance solutions for underserved senior populations across Taiwan and China, ranging from cancer and medical coverage to specialized annuities.

With over 1,100 insurance professionals across APAC and strong commitment to corporate social responsibility and diversity initiatives, RGA continues advancing its mission to make financial protection accessible to all.

Taiping Reinsurance Company Limited (TPRe) has established itself as a premier global reinsurance provider through prudent strategy, financial strength, and innovative solutions across both non-life and life reinsurance.

TPRe achieved exceptional results in 2024 with overall insurance revenue reaching $1.11bn and assets of $5.77bn. The company maintained a strong combined ratio of 92.7%, profit after taxation of $122.7m, investment income of $87.27m, and return on equity of 8.3%. These results earned TPRe 13th place under IFRS17 in AM Best’s World’s 50 Largest Reinsurers 2023 and 28th position among Global Top 50 P&C Reinsurer Brands according to NMG Consulting’s Global P&C Re Study 2024. The company has consistently achieved “A” financial strength ratings with stable outlook from S&P, AM Best, and Fitch.

With 45 years of experience, TPRe holds a commanding 36% market share in Hong Kong’s onshore general insurance reinsurance market in 2024. The company has organized Hong Kong and Macau insurance market seminars for nearly a decade, establishing a vital industry communication platform. TPRe demonstrates strong commitment to regional development by underwriting 60 Belt and Road Initiative projects in 2024 and sponsoring the Hong Kong Belt and Road Summit for two consecutive years. The company supports major infrastructure and green energy developments in the Greater Bay Area while pioneering Small Unmanned Aircraft insurance products for China’s emerging low-altitude economy.

TPRe leads catastrophe risk management innovation across Asia. The company issued Asia’s first dual-perils, dual-triggers CAT Bond—Silk Road Re—covering earthquake risks in China and hurricane risks in the United States. This three-year, $35m bond utilizing parametric and industry loss index triggers represents Hong Kong’s sixth Insurance-Linked Security and Asia’s first multi-peril, multi-trigger ILS, providing valuable regional risk diversification experience.

TPRe collaborated with Hong Kong University of Science and Technology to develop the first customized high-fidelity, high-resolution flood catastrophe model for Hong Kong’s insurance industry, earning support from the Hong Kong Innovation and Technology Fund. A similar partnership with University of Macau launched in 2025 addresses Macau’s flood risk assessment. Since 2019, TPRe has assisted Macau SAR government implementing natural catastrophe insurance schemes for local SMEs, underwriting over 100 policies.

TPRe provides comprehensive support for captive insurance clients, organizing China Taiping Captive Symposium for two consecutive years to promote Hong Kong as an international risk management center. As an inaugural signatory of the Insurance Industry Climate Charter in February 2024, TPRe demonstrates strong ESG commitment.

In today’s volatile and complex macroeconomic landscape, Marsh Asia empowers businesses to transform risks into opportunities through the power of perspective, specialised expertise and practical solutions.

As the only broker with 70 years of proven experience in Asia, Marsh serves over 35,000 clients in 12 markets and placed nearly $10bn in premiums, almost double its nearest competitors, making them the region’s leading broker.

The company has proven its industry leadership across sectors, including semiconductors, supporting 75% of the world’s largest semiconductor companies; data centres, partnering with 80% of the world’s largest cloud service and data centre providers; and sectors such as automotive, construction, marine and cargo, aviation, energy and power, healthcare and legal services.

Marsh empowers clients to tackle their most pressing challenges and capture opportunities amid persistent geopolitical and trade uncertainties, with tools such as its AI-powered platform, Sentrisk, which visualises supply chain network and quantifies risk exposure against disruption and tariffs real-time; and an educational webinar on navigating tariff impacts, attended by more than 800 clients, addressed 80 questions related to supply chain, trade credit and talent strategies.

The broker also helps Asian clients quantify risk exposure and secure financing for climate adaptation.

Marsh Asia’s Centre for Climate Adaptation & Resilience Excellence (CCARE) enables clients by providing data, expertise and financing. It is also the only broker supporting the Southeast Asia Partnership for Adaptation through Water (SEAPAW), leveraging its industry knowledge and expertise to enhance water resilience.

By leveraging its placement capabilities, industry expertise in managing complex risks and deep understanding of insurers’ operations, Marsh attracts the most admired clients and drives premium inflow to Asia’s insurance market. It empowers clients to enhance capital efficiency and future-proof their insurance strategies across all market cycles with alternative risk transfer solutions.

With the region’s top talent, unmatched scale and a culture of relentless innovation, Marsh does not just respond to risk, but it redefines the role of a broker in risk advisory and management. In a world defined by complexity, Marsh Asia stands out as the broker of choice for businesses that refuse to settle for the ordinary. As Asia’s most trusted broker, it delivers outcomes that matter, empowering its clients, colleagues and communities to thrive today and prepare for whatever lies ahead.

Singlife is driven by a clear purpose: to be the better way to financial freedom. This ambition is deeply intertwined with its commitment to building a sustainable and resilient future for all. As Singapore’s only direct insurer in the UN Forum for Insurance Transition to Net Zero, the company is committed to driving a low-carbon, resilient economy.

In 2024, it set net zero targets for 2050, with interim 2030 goals aligned with the Net Zero Asset Owner Alliance and Science Based Targets initiatives. These targets aim to reduce emissions across our investment portfolio and operations

Singlife launched Singapore’s first Sustainable Future Index and are progressively increasing investments in climate solutions to support real-world decarbonisation. Our social impact efforts – focused on ageing well, financial literacy and environmental responsibility – engaged over 1,250 participants, while employee volunteer hours rose by 12.7%.

Through measurable action and strong leadership, Singlife is not just preparing for a sustainable future – it is helping to shape it.

Sustainability is core to its mission of empowering individuals to manage their financial wellbeing and is anchored throughout its business operations through its RAISE sustainability framework.

As an insurer, Singlife assesses how climate change impacts mortality, morbidity and insurance claims. As a business, it manages risks related to rising temperatures and supply chain disruptions, while exploring efficiencies through climate-friendly technologies. As an investor, it pursues opportunities that deliver returns and support the green transition by addressing emerging climate-related risks.

Looking ahead, the insurer remains focused on reducing emissions intensity in its investment portfolio and meeting their 2030 targets for Scope 2 and 3 emissions. It plans to expand sustainability-linked KPIs, enhance supplier ESG assessments, and scale our social impact initiatives. Innovation continues to drive its efforts, with a focus on inclusive insurance solutions and advancing climate scenario analysis.

With measurable impact, climate action and inclusive innovation, Singlife is helping shape a resilient future – driven by purpose and a deep commitment to people, planet and progress.

Perceptiviti has positioned itself at the forefront of insurance innovation with Sherlock.AI, a comprehensive AI SaaS solution that is fundamentally reshaping how insurers handle claims, detect fraud and drive operational efficiency. Built on over 150m decision points and serving more than 20 insurance companies across Asia and the Middle East, Sherlock.AI exemplifies technology that delivers measurable outcomes whilst elevating the insurance experience for all stakeholders.

The insurance sector loses billions annually to inefficiencies in claims processing, compounded by manual adjudication, subjective approvals and widespread fraud, waste, and abuse (FWA). Claims leakage, inconsistent service levels and inadequate fraud controls have made cost containment and customer satisfaction difficult goals to reconcile. Perceptiviti recognised these pain points and built Sherlock.AI to address challenges across the entire claims lifecycle, from pre-authorisations and adjudications to post-pay recoveries and provider management.

Sherlock.AI functions as an ecosystem designed to automate and optimise every facet of claim processing. Leveraging over 45 proprietary AI and machine learning models, the platform processes claims with an average response time of 850 milliseconds, ensuring rapid and accurate decisions. The platform identifies fraudulent and erroneous claims with a hit rate exceeding 80%, whilst independent audits have validated its decision-making accuracy at over 99%. Processing up to 80,000 APIs daily and analysing more than 100m historical claims, Sherlock.AI scales effortlessly to meet the demands of large insurers. With simple API integrations, insurers can deploy the platform within weeks, realising returns on investment in as little as three months.

Having processed over $78bn in claims and analysed over 100m historical claims, the platform learns and adapts continuously, becoming more intelligent with every interaction. Crucially, Sherlock.AI doesn’t merely highlight anomalies; it explains them through its decisioning engine, which delivers over 150m audit edits to justify outcomes in plain, clinical and regulatory language, thereby rebuilding trust between payers and providers.

Proven Results and Impact

The platform’s efficacy is demonstrated through substantial measurable outcomes. Global insurers have saved over $100m through reduced claim leakages and operational efficiencies, whilst claims processing times have been reduced by up to 90%, with some insurers achieving turnaround times as low as 15 minutes. The platform delivers returns on investment ranging from eight to 20 times within the first few months of deployment.

Specific client results illustrate the platform’s effectiveness. Sherlock.AI identified over $12m in leakage from a single client’s $48m claim dataset, leading to $3.2m in net recoveries. For another large insurer, the platform flagged $9m in readily recoverable leakages, with $4m under recovery and $18m in estimated long-term savings. The post-pay FWA module helps clients recover 5 to 8% of gross premiums, representing funds that would otherwise have been permanently lost. Importantly, the solution operates on a pay-for-performance model, allowing insurers to pay only when recoveries are realised, ensuring zero upfront cost and minimal operational burden.

Sherlock.AI has earned significant global credibility, including recognition as a Luminary Vendor in FWA Solutions by Celent’s study of over 16 global platforms, selection as a Top 10 AI Startup by Google for Startups, and designation as a Global Top 30 InsurTech. The platform’s commitment to continuous innovation includes adaptive learning capabilities, explainable AI providing transparency in decision-making, usercentric design and scalable microservices architecture. Sherlock.AI represents more than technology; it is a proven enabler of insurance transformation, making coverage more accessible, affordable and credible for millions of policyholders across Asia.

Agriculture Insurance Company of India (AIC) has developed SEWANxt, a f lagship next-generation Core Insurance Solution built entirely in-house by its Software Development Group. This innovative platform revolutionises the delivery of agricultural and allied insurance across India, addressing the complex challenges of the country’s agri-risk insurance landscape through a unified, modular and end-to-end digital ecosystem.

SEWANxt comprises of three integrated components: the SEWANxt Portal, the Field Operations Remote Monitoring (FORM) Android mobile app, and the SARUS Android mobile app. Together, these provide comprehensive capabilities spanning underwriting, claims processing, financial management, grievance redressal and legal and internal audit compliance, ensuring a robust and efficient insurance framework.

The platform powers AIC’s implementation of flagship Government of India crop insurance schemes, including Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather-Based Crop Insurance Scheme (RWBCIS). Processing 50m data records annually, SEWANxt demonstrates remarkable capacity to handle large-scale operations with precision and reliability. The system automates business processes for over 70 variants of agriculture, allied and livestock insurance products, including offerings under the National Livestock Mission (NLM) and National Fisheries Development Programme (NFDP).

SEWANxt introduces several ground-breaking features that distinguish it within the insurance sector. The SARUS mobile app enables smart enrolment by leveraging identity documents such as Aadhaar, PAN, driving licence, or voter ID, ensuring de-duplication and seamless onboarding. An industry-first biometric muzzle recognition system authenticates livestock enrolment and claims through muzzle capture, enhancing traceability and preventing fraudulent activities.

The platform facilitates claim intimation and survey through multiple channels, with the SARUS app enabling real-time, geo-tagged and timestamped field claim reporting. Automated loss assessment utilises satellite imagery, remote sensing and digital field inspection tools to ensure accurate, scalable and tamper-proof crop loss estimation, expediting claim settlements.

SEWANxt supports an integrated digital payments infrastructure, enabling premium collection through UPI, net banking, credit and debit cards, and personalised payment links, alongside claim disbursements via Direct Benefit Transfer (DBT). An open API ecosystem enables secure, real-time integration with systems including Bharat Bill Payment System (BBPS), DigiLocker, CSC e-Governance Services and Central KYC (CKYC) for identity verification.

Softlogic Life Insurance has revolutionised claims processing with InstaClaim, a fully operational AI-powered platform that addresses critical challenges in the life insurance sector. Recognising claims handling as a vital customer touchpoint, the company deployed cutting-edge artificial intelligence to transform traditional processes, delivering exceptional results that redefine industry standards.

Prior to InstaClaim, Softlogic Life’s claims processing mirrored industry norms through manual data entry, lengthy verification procedures and difficulty detecting sophisticated fraudulent and duplicate claims. With a staff of 30 members taking approximately five days to settle a single claim, the company faced significant operational bottlenecks, escalating costs, customer dissatisfaction, vulnerability to fraud and scalability limitations. These challenges not only increased administrative expenses, but also frustrated customers during critical moments when they needed swift financial support.

InstaClaim leverages robust AI models trained on historical claims data, policy information and fraud patterns to streamline the entire claims process from submission to payment. Unlike competitors relying on single providers, Softlogic Life adopted a multi-model, multi-cloud approach, integrating Microsoft Azure, Google Cloud and custom in-house models for enhanced accuracy and reliability.

The platform operates through four main mechanisms. Smart document understanding utilises computer vision models to classify scanned or photographed documents, whether handwritten or printed, into categories such as diagnostic tickets or laboratory bills. Multimodal LLMs then extract crucial details including claimant and medical information, eliminating manual entry whilst reducing errors.

Automated Verification cross-checks extracted data against policy details, medical records (with appropriate consent and privacy compliance) and information stored in vector databases. The system verifies policy validity, coverage details and claimant eligibility, flagging discrepancies for human review.

For fraud and duplication detection, the platform utilises multimodal LLMs and proprietary in-house models to detect fraudulent alterations and duplicates. Documents are converted into high-dimensional vectors stored in similarity-optimised databases, with cosine similarity matching enabling efficient detection even with slight modifications.

Automated adjudication fully automates the process for eligible claims using robotic process automation and CEFT transfers, processing payments within two minutes of submission whilst maintaining strict compliance.

InstaClaim has delivered transformative outcomes across key performance indicators. Claims settlement time has been reduced from five days to just two minutes, whilst claims processing capacity per employee has increased fourfold from 30 to 120 claims daily. The company has experienced GWP growth from LKR 2bn (6.64m) to LKR 6bn, with fraudulent claims reduced to 2% and duplicate claims to 8%. The platform now processes 180m outpatient department claims monthly, with 35% of all claims fully automated.

Beyond operational efficiency, InstaClaim enhances customer experience through faster access to funds, transparent real-time updates, simplified submission processes and increased trust. The platform enables beneficiaries to quickly access financial support during challenging times whilst the company maintains competitive premiums through reduced fraud losses.

InstaClaim exemplifies how artificial intelligence can revolutionise the life insurance sector, delivering substantial advantages to both insurers and policyholders whilst setting new industry benchmarks for efficiency, accuracy and customer service.

PERILS AG recently celebrated its 15th anniversary, having served the APAC region for nine years as a non-profit organisation dedicated to enhancing the industry’s understanding of natural catastrophe risks. The company maintains its founding mission whilst operating as the leading primary industry exposure and loss reporting agency, focusing on two critical areas: increasing the availability of reliable exposure and loss data to improve catastrophe models and risk understanding, and ensuring the sustainability and affordability of capital to provide protection for peak catastrophe zones globally

Following the launch of PERILS’ new platform and loss reporting service, the company now provides comprehensive loss reporting across all countries in the APAC region for Nat CAT loss events. Additionally, its coverage extends to exposure reporting for Australia, Indonesia, Japan, New Zealand, the Philippines and Thailand markets.

Over the past 12 months, PERILS has delivered significant advancements across multiple fronts, including the launch of severe convective storm/ hail exposure and loss reporting and motor line of business for Japan and New Zealand, the introduction of a new exposure and loss platform, the launch of the rebranded PERILS EXTENDED loss reporting service, and ongoing development of alternative catastrophe capacity for peak CAT zones in the APAC region.

In Japan, PERILS expanded its service to include severe convective storms/hail and motor lines of business in early 2025. This expansion reflects the confidence of its insurance partners and responds to increasing global demand for reporting more frequent loss events caused by severe convective storms.

In New Zealand, where PERILS has reported exposure and loss for property since 2019 with over 80 per cent market share, the company added severe convective storms/hail and motor line of business coverage from January 2025. This enhancement enables complete coverage of the New Zealand market, including property and motor lines as well as earthquake, flood, wind and severe convective storms/hail perils.

In February 2025, PERILS launched its next-generation platform for the PERILS CORE service, designed to help users visualise and interact with exposure and event loss data. The platform features interactive dashboards, comprehensive standardised data including over 130 exposure datasets for APAC, and more than 280 loss event reports globally, including 17 for the region.

The PERILS EXTENDED loss reporting service, launched in January 2025, provides industry loss estimates dating back to 2000 for catastrophe events exceeding $1bn. This service covers over 50 loss events across Australia, Japan, New Zealand, China, India, Indonesia, Maldives, South Korea, Thailand, the Philippines and Vietnam.

PERILS continues supporting the industry as a loss reporting agency for alternative capital transactions such as insurance-linked securities and industry loss warranty transactions. During the past 12 months, PERILS facilitated the development of approximately $300m in catastrophe capacity for Australia and New Zealand, and over $120m for Japan.

Through its commitment to data accuracy, expanded capabilities and market sustainability, PERILS has established itself as a critical service provider for insurers, reinsurers and capital markets across the APAC region.

Ms Soni Srivastava has built a distinguished 23-year risk management career anchored in developing sustainable, forward-looking risk portfolios and advancing industry best practices. She’s deeply committed to strengthening women’s inclusion and progression in insurance while influencing meaningful policy change.

As Deutsche Bank AG’s regional head of corporate insurance for APAC, Ms Srivastava manages the bank’s entire corporate insurance portfolio across all APAC countries. Her responsibilities encompass placements, administration and claims management for financial lines, property and casualty insurance, employee benefits and customised policies including cyber and specie risks. She oversees the global employee benefit policies portfolio covered by Deutsche Bank’s captive insurance entity. As an Underwriting Council member for DB Re, she manages captive partners and portfolios across 24 countries, judiciously using the captive to support bespoke policies, advance diversity, equity, and inclusion initiatives and create inclusive coverages while maintaining portfolio sustainability.

Ms Srivastava serves on Deutsche Bank’s Global Strategic Committee for Third-Party Risk Management.

As global risk type controller for insurance, she sets risk governance standards and evaluates them globally at the vendor level, overseeing various global insurance operations including premium tax operations and certificate management. Prior to Deutsche Bank, she gained extensive experience in risk advisory and insurance solutions at Marsh and Aon in India.

Her passion extends beyond corporate roles. She served as a past PARIMA board member, was instrumental in establishing its India Chapter and previously held co-chairperson of the Bombay Chamber of Commerce and Industry’s General Insurance Committee. She actively contributes to Enterprise Risk Management International Network.

A sought-after speaker, she has participated in numerous industry forums including RIMS India, PARIMA events, and conferences across Hong Kong and the UK, covering topics from global programmes management to AI in insurance and captive strategy. Driven by passion for inclusion, Ms Srivastava established the Women in Insurance (WiN) forum for India as a founding board member, launching the ‘Young WiN’ initiative for women with less than ten years in insurance.

A legal professional and regulatory practitioner, Ms Bunu Ghimire has dedicated four years to improving efficiency, fairness and public trust in insurance dispute resolution – critical for building consumer confidence and market stability in Nepal.

Ms Ghimire serves as assistant director (legal) at the Nepal Insurance Authority, the statutory regulatory and quasi-judicial body overseeing Nepal’s insurance industry. Beginning as a legal officer four years ago, her role has expanded significantly in scope and influence. She handles grievance resolution, addressing disputes between insurers and policyholders through case analysis, oral hearings, mediation and decision-writing.

Her most critical contribution has been resolving over 300 insurance-related disputes – many precedent-setting cases that directly impacted insurer operations and grievance responses. These weren’t mere paperwork; families awaited death claim settlements, businesses depended on fire insurance outcomes, and individuals sought fairness in personal accident coverage. Each case required legal expertise and sensitivity to real-world implications.

Ms Ghimire has personally drafted more than 300 formal decisions issued by the Authority, shaping Nepal’s insurance law jurisprudence. These decisions clarify ambiguous provisions, streamline processes and uphold insured individuals’ rights while serving as reference points for insurers, lawyers and regulators.

Beyond dispute resolution, she contributed to institutional transparency through the “Insurance Decision Collection Book” – a compilation of landmark Authority decisions that increases access to legal precedents and strengthens accountability.

As a regulatory officer, Ms Ghimire bridges complex legal codes and public experiences. She believes regulation should empower citizens, educate the industry and enhance financial ecosystem resilience. Through consumer engagement, regulatory hearings and reform recommendations, she has closed gaps in insurance contract interpretation and implementation.

At 31, Ms Ghimire stands at the intersection of law, policy and leadership – committed to ethical insurance growth in Asia. This nomination recognises both her individual contributions and the power of principled, informed regulation in shaping a better insurance future.

Ms Jasleen Kohli stands as a transformative figure in Indian insurance, having co-founded and propelled Go Digit General Insurance to unparalleled success. Her journey, marked by consistent leadership and strategic acumen, has positioned the company as a pioneering force in the sector.

Ms Kohli joined Go Digit in 2017 as co-founder and chief distribution officer – also the company’s first employee. She swiftly became pivotal in establishing and expanding core business lines, ensuring Digit consistently maintained its position as India’s fastest-growing general insurer.

In April 2022, her exceptional contributions led to her appointment as managing director and CEO. Under her leadership, Digit rapidly cemented its status as India’s leading digital full-stack insurance company. She successfully steered the company through its public listing within two years – a significant milestone amplified by her distinction as one of the youngest CEOs in the insurance industry. Digit became the youngest Indian insurance company to be listed on domestic stock exchanges.

Under her guidance, Digit has achieved remarkable growth. From a single Pune office, it has expanded to a nationwide network of over 4,680 employees serving more than 67m customers. Within three years of achieving unicorn status, Digit became the fourth-biggest private player in motor insurance, rivalling established players with decades of experience.

Ms Kohli embodies Digit’s core values: relentlessly challenging the status quo and maintaining unwavering transparency. She ensures these principles are ingrained in daily operations, fostering innovation-focused environments. Under her leadership, Digit remains committed to continuously enhancing customer and partner experiences.

Her presence in the insurance world is synonymous with resilience, strategic acumen and exemplary leadership. Known for her unwavering commitment to innovation and customer-centricity, she embodies effective leadership – a blend of vision, empathy and determination. She consistently champions leadership virtues and innovation in navigating the industry’s evolving landscape, serving as an inspiration demonstrating individuals’ potential to drive positive change and significant impact.

Few professionals embody leadership and industry stewardship as profoundly as Mr Michael Rellosa. With over four decades of high-impact service in insurance and reinsurance, Mr Rellosa has become a towering figure in the Philippines and across ASEAN and APAC region. His career, marked by relentless advocacy, transformative leadership and educational passion, has reshaped how the industry operates and engages with stakeholders.

Mr Rellosa’s journey began in 1983 as a management trainee at FGU Insurance Corporation. His exemplary rise included vital roles in global hubs like Hong Kong with AXA-Sime Assurance, Aon Risk Services and Sedgwick Chartered, plus leadership posts at Philippine institutions including Citystate Insurance and Fortune General Insurance Corporation, cultivating deep understanding of local and international dynamics.

As Philippine Insurers and Reinsurers Association (PIRA) executive director since 2018, Mr Rellosa leads the country’s premier non-life insurance association. His PIRA connection runs deeper, serving as trustee for over 20 years and chairman in 2010 and 2015, guiding the association through change and opportunity.

His influence extends beyond Philippine shores. As ASEAN Insurance Council (AIC) Chairman from 2015-2016, he championed harmonisation efforts under ASEAN Economic Integration and led initiatives improving insurance literacy and accessibility across Southeast Asia. He served eight years as AIC Education Committee Chairman, promoting capacity building and knowledge exchange that continues shaping regional professional development programmes.

From 2022-2024, Mr Rellosa served as East Asian Insurance Congress (EAIC) President. Under his leadership, EAIC strengthened its role as an ideas convener and innovation catalyst addressing climate change, pandemics and digital disruption.

Recently, as ARISE Philippines board member and priority area lead on reinsurance/insurance, he actively embeds insurance-based solutions into national resilience planning, reflecting visionary understanding of insurance as a vital enabler of social stability and economic continuity. Colleagues consistently describe Mr Rellosa as a person of integrity, intellect and inclusivity, bringing thoughtfulness and dedication to every role – from chairing committees to mentoring young practitioners.