Something disruptive this way comes. The Asia InsurTech Summit 2018, organised by Asia Insurance Review in partnership with InsurTech Asia Association, was a revelation.
More investment in innovation is required by the insurance sector as a whole in order to be able to meet the new risk challenges of tomorrow, says the CEO of global professional services firm Aon.
Discussions of how AI and automation will affect individuals, societies and businesses are aplenty, however, no country has yet taken the bull by horns. 'The automation readiness index: who is ready for the coming wave of automation?' a new report by the Economist Intelligence Unit and technology...
With the number of cross-industry insurance collaborations growing, insurers and their partners need to work...
Insurers, particularly non-life players, stand to gain tremendously if they can unlock the door to...
According to IRDAI data, 24 Indian life insurance companies have 776 insurance products on offer. However, not all products are hot cakes that can...
The industry is on the verge of a seismic, tech-driven shift. A focus on four areas can position carriers to embrace this change.
According to the Protection Gap Study (PGS) 2017, commissioned by the Life Insurance Association of Singapore and prepared by EY, there is an 80% gap...
While 2016 was the toughest earnings year since the financial crisis for shipping, there are now some potential building blocks for the future and...
An exploratory study initiated by Transport Corporation of India as a joint study with the Insurance Institute of India to evaluate the insurance...
The jury is still out if the Toronto van attack on 23 April that claimed 10 lives and injured 14 others grievously can be classified as a terrorist...
The rural and semi-urban regions of India contribute around 46% to the country's net domestic product and employ close to 70% of the total workforce...
A whistleblower age has to be ushered in around the world and across organisations. Laws have been passed and companies have formulated their...
The Indian government's ambitious initiative to merge three of the four public sector general insurance companies in the market has gained steam. The...
In the recent 2017 Protection Gap Study (PGS) released by the Life Insurance Association (LIA) of Singapore, it was found that despite a 17% uptake...
Insurance carriers must position themselves to respond to a changing business landscape brought about by the increasing adoption of AI within the...
At the recent Asia Insurance Review InsurTech event I attended in Singapore, it was heartening to know that the nascent adoption of robotics and...
A report titled 'Insurance requirements of the Indian logistics and warehousing industry and their customers', on the need for insurance in India's...
Bangladesh's insurance industry, which is a key component in the country's financial sector, has not grown to its potential and this is about to...
This paper by KPMG seeks to examine how financial regulation might develop over the next 10 years, focusing on whether regulation will push forward...
Marsh explores how smart devices are introducing or increasing cyber risk for businesses that design, manufacture, service or use IoT products.
InsurTechs, the insurance technology start-ups that are trying to transform how insurance business is transacted, are perhaps still not widely known...
Earlier this month, AIA Hong Kong announced that it had launched an 'industry first' customer service robot AI chatbot, which offers 24/7 instant...
SCOR Global Life has identified five new rules of engagement for today's consumer, who has no patience or loyalty for 'transactional' brands.
On May 25 Europe will see the introduction of the General Data Protection Regulation (GDPR), which will have a profound effect on how all...
This report is part of the ICMIF 5-5-5 Mutual Microinsurance Strategy. The 5-5-5 Strategy aims to provide mutual microinsurance solutions to 5...
Asia InsurTech Summit 2018 - George Kesselman, President, InsurTech Asia Association
Asia InsurTech Summit 2018 - Jill Hoffman, CEO, Munich Re Singapore
Asia InsurTech Summit 2018 - Benjamin Yeo, Managing Director, Head of Insurance Coverage DBS Bank
Asia InsurTech Summit 2018 - Dr Woody Mo, President & CEO, eBaoTech Corporation
Asia InsurTech Summit 2018 - Daniel Peled, VP Sales, Kryon Systems
Asia InsurTech Summit 2018 - Dat Le, Data Scientist, Uber
Singapore's insurance sector IS moving towards setting up its own electronic data communications network for the whole industry to fully exploit the...
Mr Tom Jutte, President-Director of PT Maskapai Asuransi Nasuha, looks at the growth of health care in Indonesia, and is optimistic about the...
The small and medium enterprises (SMEs) cyber market remains challenging despite industry attempts to develop cyber products tailored to that...
Voice interfaces like Alexa and Google Assistant are going to have an immense impact on human-to-machine interaction, eventually replacing keyboards,...
Growth of life insurance in Asia has skyrocketed over the past five years, due to both the expansion of bancassurance channels and massive...
The year 2017 was another record-breaking year of insured losses, but Asia managed to catch some respite with economic and insured losses...
Insurance should be a key aspect of a company's risk management strategy to manage costs associated with the implementation of the General Data...
The new EU data privacy laws went into effect on 25 May. While the cost and effort of updating their data collection and usage processes was...
When Warren Buffet says, "Cyber is unchartered territory and it is going to get worse not better," it needs to be given serious thought. The...
Many smart devices are creating a wave of vulnerabilities and cyber threats because of their lack of adequate security features, according to a...
The mergers and acquisitions (M&A) scene for insurance is set to remain vibrant for the next 12 months following a 'solid' first quarter of deal...
Personal medical case management (PMCM) could help bridge some of the current gaps in healthcare, as a panel discussion made up of healthcare and...
The Thai life insurance sector saw robust growth in 2017 thanks to the country's population demographics, government initiatives and even social...
Soundbites from Stuart A. Spencer, Group Chief Marketing Officer, AIA
The insurance industry in Afghanistan is relatively small with only four companies operating in the market but things are looking positive for the...
Composite insurance pricing in Asia continued to decline in the first quarter of 2018 - with casualty pricing decreasing by an average of 2.7% -...
Mr J Francois Outreville makes a case for general training in benefiting the insurance sector as a whole and calls on the industry in each country to...
A study published by the International Cooperative and Mutual Insurance Federation (ICMIF) and Microinsurance MBA Association of the Philippines...
The insurance industry, which is rapidly innovating and embracing advanced technologies, is asking industry regulators if they, too, are keeping pace...
The Insurance Regulator Technology Adoption Survey was conducted in late August/early September 2017 by the Deloitte Centre for Financial Services...
It's no longer business as usual, insurers, as large technology firms will compete in insurance, warns the latest World Insurance Report 2018 from...
The World Insurance Report 2018 from Capgemini and Efma highlights the need for insurers to have digital agility, cater to customer demands and...
Green Delta Insurance managing director and CEO Farzana Chowdhury has been conferred with the prestigious Women Economic Forum (WEF) award for being...
The largest group of healthcare institutions in Singapore, SingHealth, has decided that its computers will be cut off from personal cloud storage...
Since the 2008 GFC, financial regulation has changed significantly. Tougher, more detailed and more complex standards now apply to all aspects of...
ZhongAn Tech, ZhongAn's specialised technology incubator is currently collaborating with Shanghai's insurance regulatory bureau to build a...
The three European As of the global insurance fraternity, AXA, Aviva and Allianz have taken the lead on climate change and are actively managing the...
AODP rates and ranks the world's largest institutional investors and assesses their response to climate-related risks and opportunities. The ratings...
A survey conducted by Zurich Insurance, found that 62% of CFOs in Asian companies were optimistic of an improving business environment for foreign...
Foreign life insurers can take a majority stake in local JVs from June onwards, although growing their market share still seems a tall order.
Munich Re global head of climate and public sector business development Ernst Rauch elaborates on how countries can lessen the economic consequences...
Japan's top three non-life groups (Sompo, Tokio Marine and MS&AD) will remain on the acquisition trail to offset sluggish domestic growth prospects,...
While cyber insurance offers abundant growth opportunities, the market appears to be 'bifurcated', according to a recent A.M. Best report that looked...
The Federal Reserve, quantitative easing and the grinding years of low interest rates have caused headaches for many asset managers - but quite...
The first quarter of 2018 saw a total of 66 InsurTech investment deals inked globally - a new record - with transaction sizes also on the rise. In...
Floods are the most common yet most underinsured risk in Asian emerging markets. India, Indonesia and the Philippines encounter frequent flooding due...
Microinsurance is not the way forward in managing natural catastrophes, according to UN Capital Development Fund regional inclusive insurance...
Nepal will be the host nation for the 21st AIRDC conference in September and we look at the relevance of the event in a fast-changing insurance...
Among the myriad challenges in building a successful public-private partnership (PPP) is the challenge of aligning the interests of all parties, said...
An urban planner and a village priest could be as important as an insurer in playing a role to protect a community at risk of floods.
For a long time, the traditional insurance business model has proven to be remarkably resilient, but insurers appear to be much more wary of the...
The MMC Charity Walk for the Children's Cancer Society happened in May, with resounding success. We talk to the sponsors for the event to get their...
ASEAN countries should do more to ensure that they do not miss out benefitting from the Belt and Road Initiative (BRI) projects.
Bangladesh experiences frequent droughts, flooding and cyclones that take a heavy toll on the farming community, whose livelihoods are affected...
Actuaries will have an increasingly important role in motor insurance, according to AXA Insurance Singapore head of retail product and pricing Alap...
Extreme weather is frightfully frequent now as Man continues indifferent to climate warnings. The insurance industry is expected to manage the risks...
The massive infrastructure changes that will need to happen to get the Belt and Road initiatives operational represents a lucrative opportunity for...
While China's 'going global' boom will continue in the future, Chinese firms will need to enhance their risk management capabilities and focus on the...
Risk management is a domain where international insurers can help the Chinese market in Belt and Road Initiative (BRI) projects, said Allianz Global...
These days, almost everyone labels every project a 'Belt and Road Initiative (BRI) project' - even a hotel construction in Paris can tagged as BRI....
The British parliament's environmental audit committee has called for mandatory public reporting by large companies and asset managers, particularly...
Three quarters of companies worldwide are yet to acknowledge climate change as a financial risk. The survey included the 100 top companies, each in...
In future, work will be fundamentally different from the way it is today, and how professionals carry out their work is changing too. Actuaries need...
The insurance industry has always remained an undersold story. The industry is usually termed a laggard as far as attracting customers and...
Ceylinco Life, a leading player in Sri Lanka, has embraced sustainability in its day-to-day activities and conducted many projects in order to enrich...
Malaysian insurer RHB Insurance recently launched its mobile app, which provides users with the ability purchase motor insurance policies and road...
Thailand's Office of Insurance Commission (OIC) has released a draft update on its regulations governing the sale of life and non-life products, with...
Bank Negara Malaysia (BNM) is expected to take another look at the directive that limits the ownership foreign insurers have of their local units by...
Hogan Lovells' Insurance Horizons 2018 brochure, as it is termed as, considers the impact of technology, interest rates, protectionism, excess...
The KPMG Survey of Corporate Responsibility Reporting 2017 published in October 2017 found that almost three quarters (72 percent) of large and...
Published in April 2018, Telematics: Poised for Strong Global Growth touches on an expanding array of telematics devices and services. It says the...
This report examines M&A insurance activity during 2016 and discuss predictions for 2017. The findings are based upon deals completed by JLT...
International law firm Hogan Lovells in its Insurance Horizons 2018 report published in May this year, has highlighted protectionist measures in the...
Prudential Vietnam has lately bolstered its charter capital to VND4.13tn ($183.5m).
Taking a step towards bridging the demand supply gap of paramedical resources in India, Apollo Munich Health Insurance has launched an initiative...
Aon predicts that growth in cyber insurance premiums will outpace all others by 2021, with worldwide premiums worth $4bn.
NTUC Income's COO Peter Tay is at the helm of its digital transformation office, but he is focused more on people than technology. "The environment...
Insurance needs disruptive innovation for it to become a seamless and hassle-free 'invisible insurance' that is embedded in everything we do. And for...
Technology can help create new financial services and products, new approaches to risk management and indeed reach new customers. New threats like...
The challenge of seamlessly and fully engaging insurance customers today continues to baffle some insurers a recent poll among hundreds of insurance...
Nearly three-quarters of (re)insurance executives believe that insurance regulations in Asia are veering towards protectionism, according to a recent...
Agricultural insurance will soon become an important mechanism for risk mitigation in South Asian countries where the low-income small farmers are...
The Insurance Institute of India (III) and NSEIT, a global technology firm and a subsidiary of the National Stock Exchange of India, have together...
Reinsurers in Hong Kong have received a boost from the Chinese regulator, which will soon announce a measure that would encourage mainland Chinese...
Obesity impacts our world as much as armed conflict, says healthcare startup Naluri Hidup's co-founder Dr Jeremy Ting.
In the employee benefits ecosystem, between companies' human resources function, insurers and healthcare practitioners, it is the first two whose...
Effective cost containment for healthcare requires a holistic and proactive approach, said Aetna Asia Pacific managing director Derek Goldberg.
Singapore-based start-up Vouch has kick started operations as FairDee in Thailand, and is the first InsurTech venture to be approved by the Office of...
The Cigna 360° Well-Being Survey was launched in 2014 with the goal of exploring well-being perceptions and concerns across five key areas of...
The brain is undoubtedly the most important organ of the body and diseases such as depression, anxiety and Alzheimer's are directly related to the...
Hannover Re is the 17th and the latest (re)insurer to join the growing band of (re)insurers to divest from coal. The German reinsurer will divest...
In August 2017 IRDAI issued a discussion paper on the potential of telematics in insurance-premium pricing. Both, traditional and...
A report released by the Asian Institute of Finance (AIF) recently found that the majority within Malaysia's financial industry saw innovation as a...
The 5.3 magnitude Osaka 'quake that occurred in mid-June has been reported to have caused damage to over 6,750 structures in the area, with an...
Rising longevity and population aging are top among global megatrends that are placing a growing financial strain on social security safety nets, as...
Interview with Labuan IBFC CEO, Farah Jaafar-Crosby Part 4
Interview with Labuan IBFC CEO, Farah Jaafar-Crossby (Part 3)
Interview with Labuan IBFC CEO, Farah Jaafar-Crossby (Part 2)
Interview with Labuan IBFC CEO, Farah Jaafar-Crossby (Part 1)
Insurance Summit on Belt and Road Initiative 2018 - Interviews (Part 4)
Insurance Summit on Belt and Road Initiative 2018 - Interviews (Part 3)
Insurance Summit on Belt and Road Initiative 2018 - Interviews (Part 2)
Insurance Summit on Belt and Road Initiative 2018 - Interviews (Part 1)
It is called the 'greatest show on earth'. The FIFA World Cup, which can draw up to one in seven of the global population tuning in to a single match...
The Indian government's plan to merge three of the four PSU non-life insurers has been put on fast track and is expected to be completed by March...
All around the world people are living longer. People in developed countries are living longest of all. But the overall improvement in life...
With increasing attention being paid to the Chinese market, we bring you a special report from Mr Eddie Xu, our correspondent in Beijing on the...
(Re)insurers continue to prioritise investing in technologies with potential applications to their core reinsurance business, according to Willis...
Nearly 70% of (re)insurance executives polled by Asia Insurance Review believe that conditions are favourable for mergers and acquisitions within the...
Reinsurers are reacting to the 'new normal' in property catastrophe reinsurance pricing by cutting cost and reviewing every piece of business on...
In times of economic uncertainty, it is common for buyers to seek greater financial protection. For M&A deals outside of the US, the average limit of...
China will represent the most significant factor in insurance growth in the coming years though profitability will remain under pressure as long as...
This report is the third in a series written by the Economist Intelligence Unit on behalf of Deloitte. It tracks the global insurance industry's...
In a survey conducted by Mercer in February this year, a slight decline in the actual medical trend rate was experienced by insurers in 2017, just...
Allianz Ayudhya through its many CSR initiatives is contributing to the sustainable development of Thai society. Its 'centre of education' project...
IndiaFirst life insurance, a joint venture between Bank of Baroda, Andhra Bank and Legal and General of UK, has announced a tie-up with Oxigen...
The insurance and Fintech sectors added 7800 new jobs to the Singapore financial services sector in 2016 and 2017.
The Chartered Insurance Institute, UK has launched its new Public Trust Index, which has been designed to measure consumer confidence in insurance.
ITI Re, touted as 'India's first private reinsurance company', has been sold to Go Digit Infoworks Services, which is owned by the Fairfax group of...
In another forward-looking move, various stakeholders across the global insurance sector have come together to launch a new industry-wide pledge,...
Dai-ichi Life Vietnam has been creating waves across the country for its CSR initiatives that are transforming individual lives and local...
DHFL Pramerica Life's innovative and highly publicised Behtar India social innovation campaign, launched in 2017, has inspired millions of people...
Swiss Re's latest sigma report on world insurance trends makes sobering reading for the life sector in Australia.
India managed to maintain its lead among Asian countries in a recent global well-being survey conducted by Cigna. The study, conducted across 23...
Within insurance, AI has been used mainly in claims processing and chatbots. For advancements like AI underwriting, challenges still remain before...
Nepal will be the host nation for the 21st AIRDC and the local insurance industry has come together to showcase the progress the nation has made...
The trade outlook for Asia and the rest of the world remains strong despite rising trade tensions, which is positive for the global insurance...
For decades, insurance executives have been depicted as the bad buys by Hollywood studios and TV-programme producers alike.
At the simplest level, software-as-a-service (SaaS) is a hosted offering. At a more sophisticated level, it is standardised software that is deployed...
Coming soon: A new insurer on the block.
Insurance companies' results could potentially become more volatile under the proposed IFRS17 reporting standards, as it introduces several new...
June turned out to be one of the most active months for natural disasters so far this year, with insurers set to pay more than $3bn in claims for...
Total economic losses from global natural disasters in the first half of this year amounted to $33bn, which was significantly below the $65bn...
Human error continues to be a major cause of shipping incidents and behavioural and cultural risks must be addressed, according to Allianz Global...
Globally, more than 300m people suffer from depression, the leading cause of disability, with many of these people also suffering from symptoms of...
Insurers in Asia are facing a greater level of difficulty in complying with several aspects of IFRS17 compared to their European counterparts, said...
F5 Networks recently conducted a research study with to find out what consumers' perceptions and attitudes were towards the trade-off between...
The Sri Lankan market, buoyed by an upsurge in economic activity and increasing insurance awareness, is poised for rapid growth. Under Mr Mano...
In January, Willis Towers Watson came up with a list of the top 10 most dangerous risks for insurers in 2018, based on inputs from 200 participants...
China, Japan, South Korea and Taiwan were again among the top-10 premium generators globally, according to Swiss Re's latest sigma report on world...
Netflix is one of the big success stories of Silicon Valley. Within five years, its share price rose from $30 to $360 - an increase of 1,100%. With...
Every serious economist in the world already knew that a centralised intervention in the market economics of the world's biggest economy the size and...
Insurance supervisors in Asia appear to be inclined towards adopting a risk-based capital (RBC) approach to their respective regulatory frameworks,...
The major ratings agencies have a split outlook on the reinsurance sector which is under pressure following large CAT losses last year.
As with any industry, change in the (re)insurance industry is the only constant. And along with the rapid developments seen in the last few years,...
The insurance industry should work with stakeholders in the emerging field of synthetic biology, in order to support the responsible development of...
Both the direct-to-consumer channel, as well as traditional agents, will each have an important role to play for the foreseeable future depending on...
Moody's Analytics director Paul Manson shares his views on what enterprise risk management means for Asian insurers, and discusses how insurers can...
Singapore-based insurer Great Eastern Life Assurance has had its eyes set on the Indonesian market as its key growth engine - and has not wavered...
"What if consumers loved insurance?" Insurance is a product and distribution-driven industry, but that must change in the digital age, said Anapi...
Insurance density - defined as premiums per capita - in Asia rose by 11.9% from $321.70 in 2012 to $360 in 2017, outpacing the global average rate...
The Indian insurance industry is in a transition. New entrants are donning the hat of 'disruptors' and giving fair competition to the established...
The Indian regulator IRDAI has set up a 10-member working group to study the prevalent exclusions in health insurance policies and suggests...
Extreme weather conditions resulting in severe drought and rainfall are the new normal and insurers will need quickly to factor in this risk to their...
LeapFrog Investments founder and CEO Dr Andrew Kuper was honoured with the 2018 John S. Bickley Founder's Award Gold Medal for Excellence at the...
The WHO estimates that some 300m Indians now have sufficient assets to be financially compromised in the event of accident or illness. There is...
In the latest move for supremacy in the wellness space for health insurers, Prudential Asia has just announced a partnership with UK-based healthcare...
It's time for deregulation. Short pain is better than slow suffering. That was the message from Swiss Re China president John Chen on the subject of...
The floods that have devastated the South Indian state of Kerala will be among the costliest in terms of economic losses. Current estimates peg the...
Thailand's non-life segment is expected to continue seeing premium growth this year supported by favourable economic conditions, strong new car sales...
With over 6,500 captive companies around the world, collecting over $150bn in premiums and handling some $256bn in assets, signs point to captives...
As the (re)insurance industry partners governments to protect the poor and vulnerable from major risks and disasters, their aim should centre on...
Indian IT major RMSI, a company providing geospatial and software solutions has launched PInCER, a comprehensive risk management tool for crop...
There is much room for improvement in terms of how the insurance industry collaborates with the world of academia. This was the subject of a panel of...
Several Lloyd's syndicates in Singapore are having to scale back their marine business significantly, as Lloyd's increases scrutiny on loss-making...
A new test of five cars' automatic braking systems found some worrying problems with the technology, and two Tesla models were the worst performers.
The Indian government's plan to merge three of the four PSU non-life insurers into one behemoth has now been put on slow motion as it prioritises...
Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group, has become involved in an insurance programme for an aquaculture...
MSIG Insurance (Hong Kong) risk manager Sabina Mohammed (GradIRM) on risk management.
The power of social media has meant that the impact of reputation events like cyber attacks on an organisation's share price has doubled compared to...
The ability to stay relevant to clients was cited as the biggest challenge for reinsurers in the immediate future, according to more than half of...
As leading industry incumbents and new market entrants raise the bar on customer experience and value-added services, insurers are re-shuffling their...
Tokio Marine Life Malaysia follows one of the Tokio Marine group's core CSR themes of 'supporting people' in its social activity initiatives, through...
With globalisation of industrial production and energy needs, and an increasing number of acute air pollution episodes in many cities worldwide, air...
The Shanghai Stock Exchange (SSE) and Insurance Asset Management Association of China (IAMAC) have agreed to cooperate on improving the insurance and...
Actuaries need go beyond their current scope of work to get closer to the customer, and this will prepare them well for changes in the industry, said...
Bancassurance tie-ups are popular as they offer insurers a ready, captive pool of customers to tap. This helps to lower acquisition costs and risks,...
Facebook, Twitter, Instagram and many other social media platforms can be used to disseminate information and promote debate. They can also be used...
Bank-promoted life insurance companies in India grew at 19% in 2017-18 as compared to 11% growth achieved by the life insurance industry.
The south Indian state of Kerala was hit by massive floods and landslides which were the worst recorded in 100 years, causing economic losses of over...
Despite the plentiful literature that outlines the vast changes and potential obsolescence of manual jobs with AI automation and transformation, the...
The insurance industry should think outside the box in three areas - new risk pools, technology and partnerships - in order to find health protection...
A study released by the Women's Gender Equality Agency last week noted that the finance and insurance industry lagged behind in terms of gender...
The General Insurance Association (GIA) of Singapore has been working with its members to place greater emphasis on environmental sustainability,...
It could well be likely that parking needs in Singapore can be reduced by 70% or more, according to preliminary findings by researchers at the...
AXA Insurance has launched the AXA Imperial Collection, a collection of products that includes a suite of legacy planning and wealth management...
Indonesia life insurer AJB Bumiputera is on track with its business plan to turn around the company, five months after the Financial Services...
The newest kid in the South Asian reinsurance market, Nepal Re, has started making inroads into markets beyond its neighbouring countries. The...
A new study has found that insurance premiums generated by emerging InsurTech services will exceed $400bn by 2023, up from an estimated $187bn in...
Nat CAT events in the past month, which includes flooding in western Japan and the Indian state of Kerala, alongside the earthquake in Lombok,...
If it's any indication that cryptocurrency insurance is slowly but surely inching towards going mainstream, Lloyd's of London has apparently made a...
A total of 12 (re)insurers from Asia Pacific made it to the list of top 50 world's largest reinsurance groups - up from 11 last year - ranked by A.M....
Emerging markets have been a challenge to insurers, with many companies entering and exiting them within the last few years given their volatility....
The date 1 January 2021 might seem a long way off. But in terms of implementing a new global accounting standard, it really is not, says Moody's...
Companies can come out of a crisis with their reputation further enhanced depending on how they manage their response in the immediate aftermath of...
The value of Asian pension funds rose by 20% in 2017 - outpacing a global rise of 15.1% - as seven Asian funds feature in the global top 20 list in...
AM Best's Global Market Review was released last week, with the report noting that a reinsurer's value proposition was to help primary insurers meet...
The insurance industry is undergoing fundamental transformation and 2018 is likely to be a year of drastic changes for the insurance market in Hong...
The insured losses of last year's globe-spanning malware attack, NotPetya, has been calculated at $3bn, with independent loss adjudicator, Property...
Myanmar, the 'last frontier market' for the international business community is likely to open its insurance sector to foreign players in the...
Hong Kong-based InsurTech start-up OneDegree has raised series A funding of HK$100m ($12.7m), plus an additional HK$100m for future financial support...
The Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme launched by the government of India in February 2016 has given a huge boost to the Indian farming...
The use of flexible working, and a connected property strategy, as tools for risk management is a relatively new trend, and one we expect to see grow...
With growing demand for insurance as companies recognise their exposure and seek protection against the financial consequences of cyber risks, the...
According to the China Association of Automobile Manufacturers (CAAM), domestic vehicle sales increased 3% y-o-y in 2017, to 28.88m units, a sales...
The rise of affordable technologies is paving the way for microinsurance providers to develop and support low ticket insurance products which are...
At the recent GIA Singapore Cyber Risk Forum, Singapore Management University deputy dean of faculty and research, school of information systems...
Insurance has traditionally been a rather inward-looking business but in order to compete in this data and digital-driven environment, insurers have...
Flood disasters across India are on the rise in frequency and severity and they create enormous losses for those caught in the flood area. This...
BlackRock's seventh annual global survey of 372 senior insurance executives across 27 countries in the insurance and reinsurance sectors,...
The marine insurance community is well equipped to embrace digitalisation, said outgoing IUMI president Dieter Berg, who just completed his four-year...
A report by the International Association of Insurance Supervisors (IAIS) and the Sustainable Insurance Forum (SIF) is being addressed as the 'first...
The Insurance Regulatory and Development Authority of India (IRDAI) has decided to develop a 'regulatory sandbox' to enable testing of products in a...
Global innovation platform Plug and Play has selected 24 start-ups for the inaugural batch of its FinTech and InsurTech programme based out of...
The International Union of Marine Insurance (IUMI) has released its annual statistical report on the marine insurance market highlighting that global...
While delivering the keynote address at the 2018 Asian Actuarial Conference recently, Swiss Re Asian head of life and health products Daisy Ning...
There is a huge market for insurers tapping into digital distribution channels. The expected non-life premiums from digital distribution channels...
CAT modelling firm AIR Worldwide estimates that industry insured losses from Typhoon Mangkhut in mainland China, Hong Kong, and Macau will be between...
The financial services sector as a whole has been doing well when it comes to cyber resilience, having successfully stopped four out of five (81%) of...
In a recent survey by Prudential, more than half (55%) of the 1,214 Singaporeans surveyed said that they were not ready to live to 100 years of age....
The financial assets of Singapore's households increased by 8.9% in 2017 - marking the highest growth rate since 2012. Within that, insurance and...
The advent of wearables and wellness programmes stirred the life insurance industry somewhat, but the latest announcement from John Hancock in the US...
Zurich is set to become the largest foreign general insurer in Indonesia after sealing an agreement to acquire 80% of Asuransi Adira Dinamika (Adira...
A global network of national reinsurers has been created following what was said to be the first-ever summit of national reinsurers, held from 20-21...
In the increasingly multicultural environment insurers work in, ensuring that people of various races, cultures and nationalities work well together...
Singapore's Infocomm Media Development Authority (IMDA) has signed a memorandum of intent (MOI) with four leading insurance companies to accelerate...
Climate risk disclosure is gaining ground, with a majority of companies assessed aligning with at least one or more of the Task Force on...
The second quarter of 2018 saw a record high number of 71 InsurTech funding transactions. However, the $579m invested is down 20% against the prior...
Ayushman Bharat, renamed Pradhan Mantri Jan Arogya Yojana (PMJAY), touted as the world's largest government funded healthcare programme, which is...
Gone are the days when microinsurance was considered a liability by insurers, as innovative applications of technology today are playing a pivotal...
Nearly 40% of Indians opt for a cover of INR 5 lac ($6800) when they buy a health insurance policy online. A study conducted by online insurance...
Iran is looking to the insurance-linked securities (ILS) market and intends to establish regulations that would allow local companies to leverage ILS...
Over the last 12 months, QBE has set out to reboot its operations in Asia Pacific after a sub-par display in 2017, which group CEO Patrick Regan...
China is planning for tighter regulations on online travel operators in the country. This came hot on the heels of a fatal boating accident in...
Disasters do not discriminate. They affect whole communities. Disasters, however, impact women and men differently. According to a recent report...
India, a land where millions of deities are worshipped daily, is now seeking insurance for the gods themselves. In a telling reflection to the times,...
FairDee is a Thai digital insurance platform that was launched in July. Formed by the Singapore-based Vouch InsurTech and six Thai insurers, the...
The Economist Intelligence Unit recently surveyed 480 high-net-worth individuals (HNWIs) across the fast-growing regions of Asia, the Middle East and...
Most incumbent insurers today are not delivering on fundamentals like quality of products and services and ease of doing business. This has led to...
The Indian government's ambitious crop insurance scheme Pradhan Mantri Fasal Bima Yojana (PMFBY), is raking in the money for insurers and presents...
The first ever Singapore International Reinsurance Conference, which was held in November 1991, drew participation from several CEOs of many big...
Sompo Japan Nipponkoa Insurance has set up a 'connected support centre' at the head office of Prime Assistance in order to research the future of...
Update: According to Financial Times, Malaysia's new government has reopened discussions about allowing foreign insurance companies to maintain full...
AIA Singapore introduced their newest colleague, the humanoid AI Pepper last week. We spoke to AIA Call Centre assistant manager Lee Jie Yen, one of...
Pacific Life Re and its sister technology business UnderwriteMe have entered into a collaboration with the University of Manchester's National Centre...
The Australian Reinsurance Pool Corporation (ARPC) released its 2017-18 annual report last week, marking the first financial year under the guidance...
Pioneer Life is the microinsurance pioneer in the Philippines, where it started offering microinsurance products since 2007. The company started...
The inordinate delay by the government in filling up the post of insurance ombudsman in many regions across the country has affected the morale of...
Despite the growth in data breaches, security managers at Indian firms are very confident in their cyber security preparedness, according to a new...
With the insolvency of ICPS Australia, the biggest claims services provider in the nation, the Australian insurance industry was left with a lack of...
Life insurance is the preferred investment instrument for most millennials in India, according to a recent survey.
Willis Towers Watson has entered into an international InsurTech partnership with global innovation platform Plug and Play.
Bangladesh and Indonesia emerged are the two countries with the lowest levels of insurance despite having the highest expected annual loss from...
One of the highlights of the second day of the Indonesia Rendezvous this year in Bali's Nusa Dua Convention Center was a detailed presentation by the...
One brave insurer in Singapore has made a revolutionary move that could be society's beacon of light in helping the population prepare for today's...
The $50bn Indian wedding market is the world's second-largest after the $70bn US market and is growing at 20% y-o-y. It is also largely uninsured and...
Nearly three in four employees in Hong Kong do not get support for mental health at the office, according to a recent study by global healthcare...
Prudential Singapore has teamed up with online insurer DirectAsia Insurance Singapore to cross-sell both life and general insurance products to their...
QBE will be dividing its Singapore-based Asia-Pacific operations and merging it with its Australia, New Zealand and European divisions.
Despite alternative capital driving a structural change in the reinsurance sector, the market continues to be heavily influenced by the traditional...
A new report called 'The Outlook for Insurance and Reinsurance in Asia' was launched at the 15th SIRC by Bahrain-headquartered Trust Re.
The fifth annual comprehensive survey of the evolution of the market for cyber insurance, conducted by PartnerRe in collaboration with Advisen has...
Lloyd's has confirmed that its subsidiary in Brussels will write all non-life risks from European Economic Area (EEA) countries from 1 January 2019,...
Government intervention and regulatory support can influence the development of insurance and reinsurance markets, but the actual impact varies...
To promote the importance of life insurance, India's DHFL Pramerica Life Insurance has launched a digital campaign titled KalSePehle.
Major pharmaceutical companies have proposed supporting the Indian government's flagship health insurance scheme Ayushman Bharat.
A year after Harvey, the US coast was hit by once again by hurricane Florence, which reached maximum wind speeds of 140mph before it hit Wrightsville...
A report by US-based data analytics firm Fair Isaac (FICO) has said that majority of Indian firms have cyber insurance but less than 50% have...
2018 was SIRC's most successful year to date, with over 1000 people in attendance. With those numbers comes a large number of topics to discuss and...
Nearly two-thirds of the AIR+ survey respondents believe that reinsurance pricing will remain stable for the next year despite significant claims...
Indian health insurer Religare Health Insurance has launched a new public campaign 'Don't eat the news' to highlight the ill-effects of using...
Human error remains a major cause of notifiable data breaches, according to the latest quarterly report from the Office of the Australian Information...
AXA and Burges Salmon have published a report into how passengers' personal data, valued at £32bn ($41.8bn) by 2025, needs to be managed by connected...
Toffee Insurance is an InsurTech company in India, offering bite-sized insurance products in a simple and digitised format. The company claims to...
Cyber security will perhaps be the single biggest risk that organisations are likely to face in 2019 according to the third edition of European...
The International Accounting Standards Board has voted to propose a one-year deferral of the effective date for IFRS17, the new insurance contracts...
The HDFC Ergo Insurance Awareness Award Junior Quiz, is the first such learning initiative in India. Its aim is to develop insurance skill set among...
The Singapore FinTech Festival last week had over 450 exhibitors and 40,000 participants. This week, we take a look at 5 start-ups that the insurance...
United Nations Environment's finance initiative (UNEP FI) has announced a partnership with 16 of the world's largest insurers to develop a new...
Employer-provided healthcare benefits costs are expected to increase by 7.8% in Asia Pacific in 2019, according to a survey of medical insurers by...
An analysis of 271 travel insurance policies by insurance and banking comparison website Mozo has found that pregnancy is an exclusion in one in four...
The Monetary Authority of Singapore (MAS) has released a set of principles to promote fairness, ethics, accountability and transparency (FEAT) in the...
In the middle of December 2018 Allianz Global Corporate & Specialty (ACGS) is set to publish its annual Global Claims Review 2018.
One of the benefits of being an active social media user is receiving articles from peers on your feed.
In September 2018, RNA Analytics surveyed representatives from various insurance companies in the Asia Pacific region to understand the criteria they...
The ongoing California wildfires are set to become one of the costliest wildfire loss events in history, and could negatively impact the 4Q earnings...
Annual reviews help clients understand and keep their insurance up to date with their changing circumstances, and having regular reviews make clients...
Medical plan costs paid by employers around the world are set to rise nearly 8% in 2019, far outpacing average general inflation of nearly 3%,...
HDFC Life, one of India's private life insurers, has launched the second edition of its campaign #YoungandResponsible. Through this campaign, the...
Discussion of the use of drones has predominantly focused on insuring them and the regulations (or lack thereof) relating to their operation. An area...
CEO of dacadoo Peter Ohnemus believes that insurance will become more flexible and modular in the near future.
Credit rating agency Moody's expects to see a rise in fixed income instruments that are aligned with environmental, social and governance (ESG)...
AMTD managing director Sidney Ku revealed to Asia Insurance Review that the company is applying for an insurance license in Hong Kong.
With unprecedented losses in world insurance markets and intense competitive pressures encouraging companies to seek innovative new products, Mr Ted...
An IT expert says insider threats appear to be under-reported in data collated by the Office of the Australian Information Commissioner (OAIC).
Korean insurers are expected to continue searching for capital-raising opportunities to boost their capital buffers amid the progressive tightening...
Deal value in the global insurance M&A market has rebounded in 1H2018, amounting to over EUR37bn ($42bn), driven by a series of megadeals which...
ILS has potential for deployment and growth in Asia, where insurance penetration is low and natural and manmade catastrophes inflict huge economic...
The protection gap is not one singular figure of insured and uninsured people, but rather a series of gaps existing across different areas of...
Cooperative and mutual insurers have performed better than the rest of the insurance market, according to their global representative body, the...
The coastal Indian state of Kerala suffered an estimated economic loss of $4.5bn due to the floods that affected the state in August this year....
Motorists in the United Kingdom are confused by the definition of a driverless car, as well as autonomous technology already included in modern...
The Hong Kong Federation of Insurers (HKFI) announced the launch of the Insurance Fraud Prevention Claims Database (IFPCD) on 1 December 2018. Using...
The biggest risks for Japanese insurers will continue to stem from financial markets in 2019, says Fitch Ratings in a new report.
Insurance companies are taking unprecedented action against the coal industry, ending insurance for coal companies, mines and power plants and...
Willis Towers Watson's 2019 Insurance Marketplace Realities Report features some predictions for the industry in the coming year. Here is a snapshot...
Businesses in New Zealand can no longer afford to ignore intellectual property (IP) assets in their risk management strategy, in view of rising IP...
Tropical cyclones once again caused billions of dollars in damage across the globe in 2018, with the high number of typhoons that hit Japan and the...
Online insurance platforms can offer customers a convenient opportunity to make an informed choice when buying an insurance product fast - and very...
MyDoc, Asia's first value-based digital managed care platform, is driving a reduction in healthcare costs by at least 16%, according to a recent...
Acko General Insurance is the new kid on the block in the digital space in India and is already making waves across the country through its...
The increasing number of two-wheeler accident deaths on Indian roads has prompted insurers to come forward and promote road safety.
Last month the International Accounting Standards Board (IASB) proposed to delay the implementation of IFRS17 for a year, in response to urging from...
The government of India has launched a major exercise to create awareness about cyber-safety.
Online insurance aggregator, Insureme, has launched per day motor insurance covers in Sri Lanka, for which the company has partnered with telecom...
A recent article by Mr Munawar Kasan entitled 'Revitalizing Bumiputera' was carried in Kompas. It asked the question of how regulators can rescue an...
Hong Kong's chief executive Carrie Lam gave unwavering support for the growth of the territory's insurance sector in a keynote address at the...
Queensland's RACQ has successfully implemented and gone live with SSP's digital 'as a service' platform as it pursues its affinity partnership...
Berkshire Hathaway Specialty Insurance Company (BHSI) recently withdrew from the Hong Kong Employees' Compensation (EC) terrorism pool effective 1...
Foreign reinsurers' branches (FRBs) in India will now be able to bid for reinsurance contracts along with Indian reinsurers. Presently GIC Re is the...
When choosing an office or factory location for a business, risk managers typically look at whether it is structurally sound, fire-resistant,...
Etiqa, the insurance arm of Malaysia's largest banking group Maybank, could expand to Cambodia next year if it obtains regulatory approval.
Very early on in the piece, when a student is beginning a study of economics, they will come across the concept of the equilibrium between supply and...
The Hong Kong Federation of Insurers (HKFI) has launched its Motor Insurance DLT-based Authentication System (MIDAS). This is a blockchain...
Bowtie Life Insurance has been granted Hong Kong's first virtual insurance company license by the Insurance Authority under its Fast Track pilot...
Risk modelling firm AIR Worldwide estimates that the direct cyber incident losses for the Marriott breach will be between $200mand $600m. AIR's loss...
At this time of year, I often look back and reflect on the changes and level of disruption we've seen in the health insurance market. The past 12...
Women in Reinsurance (WiRE) is a sub-committee of Singapore Reinsurers' Association and was launched to support women in the reinsurance industry....
The world's top insurers have reportedly refused to cover Adani Group's Carmichael project in Queensland due of environmental concerns.
Fitch Ratings has maintained its 2019 rating and sector outlooks for China's life insurers at stable, on the expectation of steady economic growth...
Plants have become much more complex in the past few years, as have legal requirements. How does this affect operators and safety engineers? Are...
UnitedHealth Group Incorporated occupied the top spot in AM Best's ranking of the world's 25 largest insurance companies for a fourth straight year,...
The outlook for China's life insurers is stable for 2019 on the expectation of steady economic growth and an ageing population with increasing risk...
Japan needs to improve job quality and further reform the mandatory retirement age to address upfront the challenges of its rapidly ageing and...
New specialty lines insurer HDI Global Specialty commenced underwriting at the start of 2019 with premium volumes in excess of EUR1bn and is...
Today we are sitting on a cusp of a major health crisis which has major societal ramifications. Obesity has reached epidemic proportions and almost...
The Korea Insurance Development Institute (KIDI) is developing an AI-based system that will help insurers calculate the costs of vehicular accidents...
The Insurance Institute of India (III) has been collaborating with stakeholders to look into the possibility of introducing insurance education in...
Beazley is expanding its insurance offering in Asian markets through a new financial lines capacity arrangement with Hong Kong-based coverholder...
AXA Insurance in Singapore has launched AXA Affiliates, a digital platform that enables partners to integrate the insurer's solutions within their...
Russell Reynolds Associates, a global search and leadership advisory firm, revealed results of its study Asia Insurance: The Next Generation CEO...
Dr Daniel Imhof, economist and Mr Christof Goeldi, assistant manager, both of Swiss Re, look at the historical trends in the 1980s between GDP growth...
The financial soundness of Indonesian insurers is not likely to be affected by the last month's tsunami in the Sunda Strait due to their appropriate...
Tech-enabled risk and benefits solutions provider Sedgwick is celebrating its 50th anniversary in 2019. To mark this milestone, the company has...
Coverfox, India's largest InsurTech platform, has revamped its life insurance product interface to meet users' goals and provide an easy-to-use...
Women, who account for 48% of India's 1.3bn population, are increasingly buying life insurance cover for themselves.
Seventy one per cent of small and medium enterprises in Hong Kong have experienced a cyber error or attack in the last 12 months, according to a...
Cebuana Lhuiller, a Philippines-based firm providing pawnshop, microinsurance and other financial services, was hit by a data breach which affected...
North P&I has confirmed that its subsidiary in Ireland, North of England P&I, has received authorisation as a non-life insurance business from the...
According to a new report by the market research and strategy consulting firm, Global Market Insights, the usage-based insurance market (UBI) will...
Hong Kong's regulator recently granted the island's first virtual insurance license to Bowtie Life Insurance, as the authorities hope to attract more...
The Insurance Council of Australia (ICA) has raised its estimate of insured losses for the hail storm that struck Sydney in late December, putting...
The lack of rainfall in eastern Australia was the worst in recent memory and was estimated to have caused more than $1bn in economic damage, said Aon...
Swiss Re estimates that the nascent personal cyber insurance market could grow to between $1.6bn and $3.1bn by 2025, should it mirror a similar...
The Indonesian finance ministry is in continued talks about issuing CAT bonds to support disaster recovery efforts as the government lays out plans...
A global ransomware cyber attack could cost $193bn and affect more than 600,000 businesses worldwide, according to a new report from the Cyber Risk...
HDFC Ergo, one of India's non-life insurers, has launched the 'Jaldi claim' services for its motor car insurance clients, through which the company...
A.M. Best recently revealed the top 25 insurers in the world by net premiums written (NPW) and non-banking assets. US health insurance carriers and...
The National Health Authority of India, which oversees Ayushman Bharat, has initiated a pilot project to detect frauds in the state-sponsored health...
Companies in the conventional power and renewable energy sectors should be preparing themselves to contend with disruption to their businesses from a...
AXA announced that Jad Ariss, currently group head of public affairs and corporate responsibility, has been appointed as the secretary general of The...
The total gross written premiums of reinsurers in Hong Kong grew by 9.1% to HK$10bn ($1.3bn) in the first nine months of 2018, according to data from...
The year of the dog certainly bared its teeth to insurers, serving up a pretty tumultuous 12 months. There were above average storm seasons in both...
Aon launched its Global Catastrophe Recap for January of 2019 last week, which evaluated the impact of global natural disaster events to identify...
An Edelweiss Tokio Life study done in partnership with Ipsos has revealed that almost 50% of cancer patients in India pay out of their pockets for...
Singaporean small and medium enterprises (SMEs) are slow to adopt digital technologies and are inadequately prepared for the national transition to a...
The recommendations by the Royal Commission regarding misconduct in Australia's financial services industry will shore up risk management practices...
According to Symantec's 2018 Internet Security Threat Report which tracks the number and type of cyber attacks globally, India ranks second in the...
The Connected Cows Network (CCN) project in Bangladesh uses a digital platform named shurjomukhi pranisheba for cattle insurance and monitoring the...
Sompo Japan Nipponkoa Insurance will use AI to examine car insurance claims, using GPS and dash cam data to enable quicker pay-outs of claims.
The Indian corporate world still considers traditional risks like property and assets, employee health and accidents and machinery and equipment as...
Environmental, social and governance matters have become of greater significance to the credit quality of a company as customers' desire for...
Liberty International Underwriters (Liberty) is keen to capitalise on its recent successes in the Japanese market by establishing a dedicated Japan...
In today's information age, data is everywhere. We're inundated with it. But gathering data is just one piece of a much larger puzzle. Data isn't...
Nepal Re, established in July 2015, is today exploring markets beyond its traditional South Asian safe zone.
Fitch Ratings has upgraded Japanese insurer Mitsui Sumitomo Insurance's (MSI) Insurer Financial Strength (IFS) Ratings to 'A+' (Strong) from 'A'. The...
Tata AIG, a private general insurer in India has deployed its innovative digital quote management solution (QMS) for its field force that offers real...
The Philippines' Insurance Commission (IC) has recently laid out new guidelines for insurers to follow when outsourcing activities. These guidelines...
Data debt, according to DocDoc CEO Cole Sirucek, is the extra cost a company will face in the future due to its current data strategy. This is the...
Allianz recorded a 30% rise in profit in Asia to EUR354m ($402m) as the group recently released its full year results ending 31 December 2018.
Grab Malaysia (Grab) has expressed concern over both the 'lack of readiness' of certain agencies and the shortage of insurance options available to...
Wavecell is collaborating with Merimen to conduct a pilot programme with MSIG Insurance using its video interaction tool.
Singapore-headquartered InsurTech Axinan has launched igloo, a digital insurance solution for millennials. The firm has partnered with FWD Singapore...
Sunday, an InsurTech start-up, has successfully raised $10m in a Series A funding round led by Vertex Ventures. An unnamed insurance group also owns...
Chubb, a personal accident and supplemental health insurer, launched the eGroup Personal Accident Insurance in Hong Kong to help employers cover the...
The Australian Insurance Law Association (AILA) has launched its 2019 public speaking competition for young professionals in the insurance industry....
According to MetLife Australia research into life insurance, many Australian couples and families could face financial difficulties if the secondary...
FinTech investments globally increased substantially in 2018, with total investment more than doubling from $50.8bn in 2017 to $111.8bn. Investment...
The growth of AI can facilitate greater alignment between the sales and underwriting units within insurance companies, according to SAS principal...
With a rising number of the world's population being digitally active and spending more of their lives online, there has been a greater need for...
Singapore's first insurance-linked securities transaction (ILS) has been finalised, according to law firm Rajah & Tann Singapore which acted as...
According to the World Health Organisation (WHO) there has been a swift increase in global health spending that is faster than the rest of the global...
The spotlight was cast on the elderly and their caregivers as the Mitsui Sumitomo Insurance Welfare Foundation (MSIWF) announced the award of four...
ICICI Lombard, a private non-life insurer in India has set a new Guinness world record under its 'ride to safety' campaign for road safety.
Zurich Malaysia has appointed Mr Mukesh Dhawan as the CEO of Zurich Takaful Malaysia (ZTM) effective 1 March. In his new role, Mr Dhawan will execute...
DocDoc has secured a strategic investment from Cyberport Macro Fund (CMF), following which it will open a new office in Hong Kong's Cyberport. This...
Major reinsurance brokers and European reinsurers recently provided pricing information on reinsurance placements renewed on 1 January 2019 for a...
CyberScout is partnering with Pioneer Insurance and Surety and MSIG Mingtai Insurance to deliver the first embedded, retainer-based cyber insurance...
AXA Insurance Singapore has added new members to its executive committee - Mr Kevin Leong as managing director of commercial lines, Ms Juliet Khew as...
Ms Claudia Salem has been appointed as CEO of Allianz for its property and casualty business in Asia Pacific, effective 1 March.
The 15th Aon Scholarship is now accepting applications for 2019, according to an announcement by Aon and the Australian and New Zealand Institute of...
The ANZIIF Insurtech Conference 2019 took place in Sydney from 26-27 February and brought together insurers, start-ups and incubators from all over...
Hong Kong's role as a risk management centre for the Belt and Road Initiative (BRI) was promoted during a forum co-hosted by the Insurance Authority...
With the advent of AI, big data and analytics - as well as the industry's growing comfort with adopting automation and wearables - the threat of...
Sixty-three InsurTech deals with a total value of $1.59bn were announced globally in the fourth quarter of last year - the highest ever since the...
Allianz Insurance Lanka, a private non-life insurer in Sri Lanka has entered into partnership with Uber Eats, where it will offer a comprehensive...
Trade credit insurer Atradius has released a report on the economic outlook for 2019. The report highlights several promising markets amidst what is...
The Hong Kong Council of Social Service (HKCSS) has recognised MetLife Hong Kong as a 'caring company' for the seventh consecutive year as a result...
Sedgwick, a global provider of technology-enabled risk and benefits solutions, has appointed Ms Jane Tutoki to serve as an independent member of its...
Symbo Platform (Symbo), a Singapore-headquartered regional all lines insurance business, is now permitted to bring its proprietary digital platform...
S&P Global Ratings has lowered ratings on AMP, its subsidiaries and associated debt issues with AMP's ratings being downgraded to 'A-' from 'A'. This...
Insurers and reinsurers are increasingly focusing on incorporating environmental, social, and governance (ESG) practices into their investment and...
Customers of today are becoming increasingly tech-savvy and health-conscious, demanding personalised insurance solutions that are tailored to their...
The Hong Kong Federation of Insurers (HKFI) has progressed with its Insurance Fraud Prevention Claims Database (IFPCD) which is one of its top...
Asia Insurance Review podcast Episode 1 on Insurance in Australia 2019, focus on the Royal Commission, understanding the issues facing insurers,...
SCOR Global Life's (SCOR) biological age model (BAM) is pushing the boundaries of continuous underwriting and dynamic pricing.
HDFC Life, one of India's private life insurers, has partnered with online higher education company upGrad to launch a first-of-its-kind online life...
Big data is an important facet of the new insurance ecosystem. We speak to uCare founder and CTO Neal Liu on the opportunities and challenges...
Big data is an important facet of the new insurance ecosystem. We speak to IBM leader, Cloud Private for Data, Samit Mandal on the opportunities and...
Big data is an important facet of the new insurance ecosystem. We speak to Accelerating Insurance director Theresa Blissing on the opportunities and...
Attracting talent to the insurance industry is a perennial challenge. More so a financial advisory career. So how does Advisors Alliance Group, an...
India's life insurance protection quotient stands at 35 out of 100, which reveals that a vast majority of Indians are grossly underprepared to face...
According to a recent report by Chinese cyber security company, Beijing Knownsec Information Technology, China suffered an average of over 800m...
People seem to be getting used to changes in weather they'd prefer to avoid. What does this say about the public's perception of climate change?
Absentmindedness and forgetfulness are the two main reasons behind motor insurance policyholders failing to renew their policies in India.
Having launched the AXA Imperial Collection last August, which serendipitously coincided with the worldwide release of the Crazy Rich Asians film,...
Swiss Re sigma's latest report forecasts that the emerging market share of global premiums will increase by about 50% over the next 10 years, with...
Boeing's insurers face big claims from families of the victims of the Ethiopian Airlines crash, coming less than six months after the crash of the...
Total investments in Belt and Road Initiative (BRI) projects until 2030 are estimated to amount to around $7.4tn with more than 80% of the...
MetLife Hong Kong has been named 'caring company' of the year for the seventh consecutive year by the Hong Kong council of social service, in...
The mutual and cooperative insurance market has been the fastest-growing part of the global insurance industry in the 10-year period since the global...
A new report by the Capgemini Research Institute has found that financial services firms are lagging behind in digital transformation compared to...
Airlines are not doing much in the fight to combat global warming. A study, 'Management Quality and Carbon Performance of Airlines: March 2019'...
Pool Re, Britain's leading terrorism reinsurer, recently published its fourth Terrorism Frequency Report, a quarterly view of the contemporary threat...
Grab Financial Group (Grab) recently announced its 'Grow with Grab' roadmap with the launch of SME lending and micro-insurance for drivers in...
The 19th Asia CEO Insurance Summit took place last week. We spoke to several attendees about the direction insurance would be taking in this exciting...
The International Committee for Insurance Medicine (ICLAM) congress was last held in Asia in Tokyo in 1986 and returns to the continent after a gap...
Technology company Synagie has launched Kiasu.me, a new on-demand lifestyle insurance mobile app.
The health insurance industry is seeing a shift from homogenous policies sold through personalised distribution channels to personalised policies...
Buoyed by the success of its campaign in 2018, Tata AIG, a private non-life player in India has launched its popular travel insurance campaign 2.0,...
The Seoul metropolitan government has announced the first step of its five-year plan to reduce the number of stray animals in the city, by...
Helping policyholders navigate a complex healthcare system and matching them with the appropriate care is a value-add that health insurers can offer,...
The rapid rise of online channels and InsurTech has given customers easy access to insurance products and services. Traditional distribution...
Cyber risk has become relevant again over the last few months and with insurance becoming increasingly digital, it looks set to remain a point of...
Lloyd's recently revealed its gender pay gap of 19.9%, which represents the difference between the average pay for a male in the corporation,...
Pathao, a ride-sharing app provider in Bangladesh has tied up with Pragati Life Insurance and Carnival Assure to provide free insurance services to...
Underlying profitability within China's life insurance sector is expected to improve as regulations steer insurers away from short-term savings...
There has been much focus on tailoring products and services to younger and more tech-savvy customers as insurers adapt to the evolving needs of the...
Last week, Singapore's OCBC Bank announced the formation of an ethics and conduct board committee - becoming Singapore's first bank to do so. In a...
InsurTechs can accomplish a lot in emerging Asian markets where the potential for insurance is immense and insurance landscape vast and largely...
NTUC Income has launched a travel product that allows travellers to enjoy price assurance for a desired flight itinerary, for up to seven days,...
A recent McKinsey report said that bancassurance sales grew across all regions from 2011 to 2017, with Latin America leading the way (12.3%), and...
DLA Piper, Britain's biggest law firm by revenue, is bringing a case against Hiscox for refusing to pay out on a multimillion-pound insurance claim...
Marsh, the global insurance broker and some leading insurers have come up with Cyber Catalyst, for organisations to make more informed choices about...
In April 2017, there were 96 profiles of people on LinkedIn who claimed expertise in both insurance and technology that made mention of blockchain....
Liberty Insurance's head of product development, Dr Alex Gleason, shared his thoughts on maintaining psychological wellness and reducing healthcare...
At the Asia InsurTech Summit 2019, we talked to Google's cloud financial services lead, Duncan Foster, on how insurers must adapt their processes and...
At the Asia InsurTech Summit 2019, Metlife's chief innovation officer and LumenLab CEO Zia Zaman explains how insurers can target the "next two...
NMG Consulting partner Roshan Perera highlighted the fact that despite many insurers having tested and trialled motor telematics programmes since the...
QBE has put its hand to the plough in a bid to support the objectives of the Paris Agreement and act on climate change while supporting its customers...
At the Asia InsurTech Summit 2019, Liberty Mutual's head of Solaria Labs Stefan Jacobs explains the experience of the modern customer and what...
At the Asia InsurTech Summit 2019, Chubb Asia Pacific's regional head of agency development and incentives Jeanette Lim discusses how agents can be...
At the Asia InsurTech Summit 2019, NMG Consulting partner Stephen Collins talks about how innovation and culture are worries that are plaguing...
GOQii a smart preventive healthcare company that started with a mission to help people make a permanent shift in their lifestyle has been successful...
Insurers have been hearing and talking about 'the customer' for years but realising that customers are now different from how they used to be is...
The slowdown in China's economy is expected to continue in 2019, with Oxford Economics forecasting a 6.1% growth. China faces a number of downside...
The two most important things when it comes to being prepared for cyber attacks today are knowing yourself and knowing your enemy, according to...
Jubilee General, a private non-life insurer in Pakistan, is providing health and education services to marginalised rural communities across the...
According to a Global Trends Study in 2017, the insurance industry invests an average of $124m per company in AI - that's $54m more than the average...
SBI Life Insurance, a private life insurer in India, has launched 'Thanks a dot', an innovative breast cancer awareness initiative programme through...
As economies transition to a lower carbon future and move away from dependency on coal as a fuel source, initiatives need to be taken to ensure coal...
I recently thought about where the real value lies in life insurance in the Asia Pacific: overall, the region has been growing at a fast clip, but...
The launch of Great Eastern's new platform for its agents and financial advisers, Great Digital Advantage, is leading towards a change in dynamics...
As the Belt & Road Initiative (BRI) investment trend continues, the use of credit and political risks insurance will continue to grow, according to...
According to stats released by US-based cyber security firm Coveware, the average ransom paid out to cyber criminals was $12,762 in Q1 2019, an 89%...
Vietnam's insurance industry has been positive for a number of years and the outlook continues to be "very, very good and will continue to expand",...
By monitoring the physical activity of dogs through a collar-mounted blue-toothed enabled fitness tracker, pet owners who regularly exercise their...
The Hong Kong authorities' introduction of tax-deductible health schemes and pension products on 1 April 2019 is likely to drive the growth of the...
With only 425 fully qualified actuaries in India, there is ample scope for growth and the Institute of Actuaries of India (IAI) plans to go all out...
Return on equity (RoE) for reinsurers saw an improvement at 4.2% for financial year 2018 from 1.4% the previous year, based on a subset of 20...
Asia Insurance Review caught up with The Standard Club director of claims Sam Kendall-Marsden at the 3rd Asian Marine Casualty Forum (AMCF) held...
To stay relevant in the post-digital world, companies need to master DARQ power, according to a report by Accenture.
The Insurance Institute of India (III) has signed an MoU with Nadia Global, a training body in the UAE, through which its courses would be made...
With the recent Notre Dame cathedral fire, a light has been shone on these ancient heritage sites and what needs to be done to protect them. Asia,...
A report by EY, based on a study that was commissioned by the Monetary Authority of Singapore and the Institute of Banking and Finance Singapore...
The international workshop on climate change and extreme catastrophic events in the Himalayan region held at the Indian Institute of Technology (IIT)...
In an exclusive interview with Asia Insurance Review, Labuan Financial Services Authority (Labuan FSA) director general Danial Mah Abdullah talks...
The Insurance Regulatory and Development Authority of India (IRDAI) has set up a committee to review the regulatory framework for microinsurance and...
Acko General Insurance has launched a trip insurance programme for bike-taxi riders who use the Rapido bike-taxi booking app.
During a Lloyd's Asia Day recently, several of the Lloyd's syndicates shared the upcoming market and risk trends that insurers should look out for in...
According to a survey by the Korean Insurance Research Institute, of the 2440 Koreans surveyed, 14.8% of respondents said they did not submit an...
Under India's flagship subsidised farm insurance scheme Pradhan Mantri Fasal Bima Yojana (PMFBY) outstanding claims owed to farmers amounted to...
In its 1Q2019 earnings call on 24 April, Tesla CEO Elon Musk confirmed that the automotive and energy company is working to provide an insurance...
National Insurance Trust Fund (NITF), Sri Lanka's state-run reinsurer, released LKR25m ($0.14m) in advance insurance claims to the Kingsbury and...
After years of criticism directed at the unsustainable cost of writing business at Lloyd's, in a strategy document last week CEO John Neal revealed...
The costs of healthcare and health insurance are constantly going up and consumer satisfaction with insurance is near an all-time low.
The disruption in global trade since the US and China engaged in a trade standoff last year has fuelled a rise in political risk, Euler Hermes' head...
Thailand's Office of Insurance Commission deputy secretary-general, examination Mr Chuchatr Pramoolpol delivered a keynote address at the 20th Asia...
Over the past 10 years, Mobility as a Service (MaaS) grew from a concept into a $31bn industry. According to Aon's Asia Market Review, it is expected...
Talk of cyber risk has morphed in recent times into a truth that has more in common with urban legend than hard fact:
A report by the UN last month noted a 300% increase in the number of measles cases in the first three months of this year, compared to the same...
There is an increasing appetite for InsurTech investments worldwide with the recent 1Q recording 85 deals with a total value of $1.42bn, according to...
Cyclone Fani that devastated parts of India and Bangladesh in early May has again revealed a huge insurance gap in the South Asian region. The...
Pakistan Reinsurance Company (PakRe) released its statement of accounts for 2018 last month. Of particular note was the 34% surge in gross written...
InsurTech is gaining huge traction and acceptability in India and companies are today scaling up operations and tapping into new customer segments...
In this episode of the Asia Insurance Review (AIR) podcast series, AIR deputy editor Ridwan Abbas invited cyber risk & insurance experts, Paul Hadjy...
Insurance has been accused of being old-fashioned, traditional and risk averse. Despite attempts over the last few years to go digital with big data...
Ageas has formulated a three-year strategic plan with a focus on the future. The strategy, Connect21, was first unveiled in September last year and...
The most recent data from the FBI shows that they have arrested some 0.6% of all cyber criminals active globally and that they are struggling to keep...
Organisations that take a business-driven cybersecurity approach to their digital initiatives achieve better outcomes and outperform their peers.
The 4th Asia Cyber Risk Summit took place last week. We spoke to ReaQta founder and CEO Alberto Pelliccione about the most common cyber risks in the...
The 4th Asia Cyber Risk Summit took place last week. We spoke to Horangi Cyber Security, founder and CEO Paul Hadjy about what steps to take when...
The 4th Asia Cyber Risk Summit took place last week. We spoke to Criterion Underwriting CEO Jonathan Ranger on the most important lessons he learned...
Unit-linked products (ULPs) are a pillar of the global life insurance industry. They combine individual investment strategies with the protection of...
It appears that there is a two horse race going on right now to see which poses the greatest risk. The two 'horses' in question are cyber and climate...
HDFC ERGO General Insurance, a private non-life player, has launched 'mosquito disease protection policy', which will cover hospitalisation expenses...
The Indian government's ambitious mass health insurance scheme, Ayushman Bharat, dubbed 'Modicare' by the media is likely to get a huge boost under...
It is raining regulatory sandboxes for the Indian Fintech industry. First in April it was the Reserve Bank of India (RBI), followed by the Securities...
Asia Insurance Review spoke with Mr Surajit Basu, vice president Sapiens India about legacy insurers digitising their operations and achieving...
HDFC Life Insurance, a private player in India, has joined with telecom major Airtel to leverage technology and the deep penetration of mobile...
In this week's episode of the Asia Insurance Review podcast, we talk to Beazley's head of political risk and trade credit underwriter Roddy Barnett,...
The last couple of weeks have seen a flurry of debates on whether US President Donald Trump's ban on Huawei is justified and what the fallout of such...
Labuan IBFC remained the leading jurisdiction in Asia for captives formations in 2018, with six new formations over the year bringing its total...
DHFL Pramerica Life, a private player in India has teamed up with MongoDB ATLAS to accelerate its digital transformation ambitions.
In a world increasingly shaped by data analytics and AI, actuarial insights remain relevant and it is a function that will not be replaced by data...
The Pradhan Mantri Fasal Bima Yojana (PMFBY) or prime minister's agriculture insurance scheme launched by the Indian government in early 2016 is...
Digging down into your total company results with increasingly granular detail might reveal a different result in your final financial statement,...
A majority of consumers have a positive attitude toward self-driving cars, and are awaiting their introduction with 'anticipation', according to a...
According to the latest provisional report by the Hong Kong Insurance Authority (IA), total gross premiums reached HK$148.8bn ($19bn), indicating an...
The Indian government's ambitious plan to merge three of the four state-owned non-life insurers is likely to be put on fast track as the government...
Reinsurers saw increases in pricing over the April and June renewals, with property catastrophe rates going up in the 15% to 25% range on loss...
India's largest private non-life insurer ICICI Lombard General Insurance is planning to roll out insurance in sachets. The company is working with...
GIC Re, India's national reinsurer, has partnered with leading NGO, Smile foundation to provide mobile health care facilities for urban slum dwellers...
The workmen's compensation scene in Asia is marked by increasing medical and hospitalisation costs, rising standards of living leading to higher...
The Intergovernmental Panel on Climate Change found in its latest report that efforts of an 'unprecedented' scale were needed to limit average...
In India the profession of actuary is among the least popular of the various professional courses available for undergraduate and graduate students.
According to a McKinsey report last month, developing APAC markets contributed to 31% of total premium growth from 2010 to 2017. Together with the...
Based on insider knowledge, a report by Reuters said that ride-hailing firm Grab is exploring a move into banking in Singapore. This comes on the...
The El Nino weather threat is gaining momentum in the Indian sub-continent, as severe drought conditions persist across many Indian states, affecting...
The recent US ban on Huawei products has generated wave after wave of negativity. Huawei 'phone owners are worried that the software on their 'phones...
A study conducted by Future Generali India Life and Market Xcel has revealed that Indian fathers in their characteristic way are more worried about...
This week's episode, AIR journalist Ahmad Zaki talks to Insurance Development Forum secretary general Ekhosuehi Iyahen and insurance veteran Aruno...
According to the Mercer Marsh Benefits (MMB) 2019 Medical Trends Around the World report, medical costs in Asia continue to outpace general inflation...
ZestMoney, a consumer-lending technology company with 5m customers has partnered with InsurTech player Digit insurance to offer insurance protection...
Speaking at the Global Insurance Forum last week, Cambridge Mobile Telematics director of corporate and strategic development Mohsin Rashid said that...
A survey conducted by insurance web aggregator Policybazaar indicates that millennials between 22 and 35 have better assessment of their protection...
The Global Insurance Forum took place last week in Singapore, with the theme "Insurance Reimagined: Global issues - Asian insights". We talked to...
At the first ever Asia Women Leadership summit, Microsoft head of risk APAC Aurélie Saada spoke to us about the importance of finding a company with...
A report last month by S&P Global Ratings found Singapore to have a low country risk for life and P&C insurers operating in the country. It cited...
HDFC Life Insurance, a private life insurer, has launched a unique sonic identity.
The Centre on Integrated Rural Development for Asia and the Pacific (CIRDAP) has opened a new facility in Hyderabad, India to discuss best practices...
India's love for cricket now resonates on the insurance field with a digital campaign by Reliance General Insurance (RGI) to raise public awareness...
Max Bupa - one of India's health insurance players has announced a strategic partnership with MobiKwik - a leading FinTech platform, to promote...
Continuing the Asia Insurance Review Country Podcasts, this episode discusses the Insurance Industry in Taiwan.
Global Insurance Law Connect (GILC) last week launched its first annual Risk Radar which pulls together themes from across the network that insurers...
Bajaj Allianz General Insurance has revised its home insurance product by adding new features. The revised 'My Home - All Risk Policy' gives...
In early 2018, French software company Dassault Systemes partnered with the Singapore government to create Virtual Singapore, a 3D digital replica of...
To go by the headlines, it would be easy to imagine that China was rapidly emerging as the top canine in the Insurance Dog and Pony Show.
Insurance played a big role in re-electing the Modi government in India, with observers concluding that the numerous government-backed welfare and...
According to a report by the Centre for the Study of Financial Innovation (CSFI) and PwC, technology tops the list of risks in 2019 that insurers...
Floating hospitals, run by a non-governmental organization (NGO) and equipped with medical facilities, paramedics and doctors, provide free treatment...
This week, we speak to Assurant president, Asia Pacific Manfred Schmoelz on the importance of data, warranties and telematics.
Last year was a good one for Vietnam as a whole - with GDP growth over 7% - the strongest result in over a decade.
As urbanization increases and cities continue to expand, they suck up ever more water. This exacerbates the effect of climate change and threatens to...
Religare Health, a private health insurer in India, has taken the initiative to create awareness among its customers and the general public about the...
Speaking at the 7th Asia Motor Insurance and Claims Management Conference, NMG Consulting partner Roshan Perera talked about the changes that are...
The G20 governments continue to provide billions of dollars for the production and consumption of fossil fuels. These nations had, however, in their...
Employees of Liberty General Insurance cycled through the busy streets of Mumbai to create awareness on the importance of following traffic rules and...
The Pakistan government's poverty alleviation and social protection division has released a health insurance card that can be used by the poor to...
AIA's upcoming product aimed at the affluent segment in Singapore - AIA Platinum Wealth Elite - brings a new approach to customers interested in...
The Vietnam National Reinsurance Corporation, more generally known as VinaRe, turned in an impressive performance for 2018 in spite of heavy...
The world we live in today is driven by innovation and amid growing expectations from consumers, C-suite executives have to chart a path for their...
A new report, 'Leaving Well: End-of-Life Care Policies in Singapore', published by the Institute of Policy Studies (IPS), calls for an urgent look at...
Cochin International Airport (CIAL) and Kochi Metro are the two major insurance claimants from the deluge that ravaged the southern Indian state of...
People are living longer, thanks to improving healthcare systems. However, many are not financially prepared to manage the costs of living in their...
Often described as one of Asia's last frontier markets, Cambodia has seen its insurance sector significantly grow over the last few years. To develop...
Fairfirst Insurance, a private non-life player in Sri Lanka has started delivering motor insurance via the WhatsApp social media platform.
About 222.5m Indonesians are covered by National Health Insurance-Healthy Indonesia Cards, according to Health-Social Insurance Office (BJS) deputy...
Three Indian general insurers that offer travel insurance cover to the passengers travelling on Indian railways, received a premium income of INR460m...
Deteriorations in US-China talks could risk leading to a bipolar world, according to Aon's latest Political Risk Quarterly Update report.
Foreign nationals who plan to stay in South Korea for more than six months will now find it mandatory to enrol in the country's health insurance...
VisitorsCoverage, a Silicon Valley based travel insurance company has witnessed a surge in Indian customers searching for US-based travel insurance...
The Insurance Regulatory and Development Authority of India (IRDAI) has approved 110 health insurance covers beginning 16 August 2018, for people...
While Singaporeans have the distinction of having the world's longest average life expectancy at 84.4 years old, a greater number of them are...
This week, we speak to FM Global regional VP David Johnson about the risks surrounding climate change and the state of risk management in Asia.
The era of big data is over, according to an article by Amalgam Insights CEO Hyoun Park - a firm focused on the technology, analytics, and financial...
According to Willis Towers Watson's InsurTech Quarterly Briefing report, total global InsurTech investment this last quarter amounted to $1.41bn.
The Internet of Things (IoT) will radically change the world in the coming years, and networked devices will be a substantial part of that change. In...
According a study conducted by Aon and Mergermarket, the deal environment in Asia-Pacific is becoming more fully integrated with western markets....
With insurance penetration in Bangladesh among the lowest in the world at 0.7%, insurers are now tapping digital platforms to expand their reach...
The Motor Vehicles (Amendment) Bill 2019 passed by the Indian parliament on 31 July 2019 will amend the provisions under the Motor Vehicles Act of...
There are times when we hear the phrase 'protection gap' and there is a tendency for the eyes to glaze over. And then there are times when the same...
Asia Insurance Review sat down for an exclusive one-on-one with Peak Re COO and co-lead of life and health reinsurance David Cabral to understand how...
The Indian ratings agency CARE has projected that the Indian life insurance industry will achieve growth of around 14% to 15% per annum in the years...
Chola MS, a private non-life player in India has partnered with MobiKwik, a FinTech platform, to launch one of the cheapest insurance products in the...
In this week's episode of the podcast, we talk to Genoplan research scientist Mr James Kim on the benefits genetic testing has on people's health and...
Janashakthi Insurance, a private life player in Sri Lanka, has launched 'Live Life,' a preventive approach to life insurance in partnership with...
KPMG China recently collaborated with ZhongAn FinTech Institute to publish a report on China's rapidly growing InsurTech marketplace.
Pradhan Mantri Fasal Beema Yojana (PMFBY) CEO and joint secretary (Credit), ministry of agriculture and farmers' welfare, government of India Dr...
The announcement of Lloyd's blueprint for its future strategy is highly anticipated, as the world's oldest insurance markets prepares to reimagine...
Most companies and their chief executive officers are convinced of the need to computerise and upgrade their operations. But often the numerous...
It's a major flood-like situation again in the south Indian state of Kerala and though not as bad as last year, it is a cause for much concern....
A study conducted by the British Medical Journal and published in a recent issue of BMJ Open suggests that there is extensive gender discrimination...
The life insurance industry in Pakistan recently signed a memorandum of understanding with the Central Depository Company of Pakistan (CDC) which...
To ensure the financial security and future of their families, fathers in India are known most often to sacrifice their own well-being.
Acko insurance, an InsurTech player in India, has partnered with OYO hotels and homes to provide complimentary insurance to the hotel's guests...
Global reinsurers are reacting strategically to hardening prices, amid heightened catastrophe activities. Most of the top 20 reinsurers have chosen...
True balance, the Fintech app, has associated with ICICI Lombard General Insurance to provide health insurance at affordable premium to its tier II...
Continuing the Asia Insurance Review Country Podcasts, this episode discusses the Insurance Industry in China.
This week's podcast comes from a panel discussion at the Agency Innovation Conference, organised by Asia Insurance Review and Asia Advisers Network.
Insurance Regulatory and Development Authority of India (IRDAI) chairman Dr Subhash Chandra Khuntia has said, "When there is a downturn in the...
Chinese conglomerate Tencent is currently leading the Series B equity financing round for InsurTech start-up Xiaobangguihua (loosely translated as...
In a statement on 20 August, Chinese state media announced the addition of 148 drugs to its list of medicines covered by basic medical insurance...
The 1st annual certified private insurance investigator seminar was organised by the Insurance Institute of India (III) in Mumbai recently. The event...
According to a McKinsey report, insurers need to take a more structural approach to productivity if they are to make any significant progress.
Exide Life, a private life player in India, has released a new road safety campaign film, targeting the popular Indian festival of raksha bandhan,...
At the Life and Retirement Conference 2019, preparing for the future was the main point of discussion. With a theme of 'The Future is Today', the...
China's central government has been pushing Shenzhen as a 'pilot city', showcasing the advantages of its political and economic systems, with the...
Singapore and Fitbit to collaborate for 'Live healthy Singapore' public health initiativeSingapore Health Promotion Board (HPB) and Fitbit will collaborate to run a 'Live healthy Singapore' initiative for the Singaporean population.A potential digital insurance marketplace for VietnamLast week, Grab announced its decision to invest $500m in Vietnam over a period of five years to tap opportunities in FinTech, new mobility solutions...Agriculture insurance booms in South AsiaAsia Insurance Review's 6th Agriculture Insurance conference is set to take place in New Delhi next week and we look at how agriculture insurance is...High costs a barrier for financial inclusionA survey by Bangladesh Bank has revealed that low incomes, lack of access to offices and high cost of products are some of the major barriers to...Is it time to brace for a recession?Dark clouds are fast gathering over the global economy with the US-China trade war seemingly moving the world closer to the brink of a recession.ArgoGlobal Lloyd's syndicate to exit Asia and global hull underwritingArgoGlobal recently announced plans to cease its Syndicate 1200's underwriting operations in Asia and most of its hull underwriting business within...Ping An steps up tech initiativeOneConnect Financial Technology (OneConnect), an associate company of Ping An Group, and Singapore Management University (SMU) recently signed an MOU...Asia Pacific travel insurance market expected to grow nearly to $10bn by 2022According to a research report by Allied Market Research, the travel insurance market was valued at $5,540mn in 2016 and is forecasted to reach...Climate change turning into a regulatory risk for insurersThe Bank of England recently issued a directive requesting insurers in the UK to gauge how climate change would impact the value of the equities and...Insurance-linked securities weathers storm of CAT bond losses: AonThe insurance-linked securities (ILS) sector is poised to resume growth following a plateau in 2018 as CAT bond levels remain consistent...Being better agency leadersTrust in the insurance industry is easily lost.Podcast: How to sell insuranceIn this week's episode of the podcast, we speak to Odyssey founder and director, Kevin Goh and co-founder and manager Reuben Lee, about what its like...Cybersecurity is warTechnology was the focal point at the Asia Risk & Resilience Conference 2019 and with the territory naturally comes talk of cybersecurity.Risks from Hong Kong protests and Indian tourismLast year, Hong Kong was one of the world's most visited cities, with 30 million tourists. According to the Hong Kong administration, visitor numbers...How insurance drives macroeconomic resilienceSwiss Re recently released its latest Sigma research report that looks at the macroeconomic resilience of different economies, as well as the role...Modest rise in marine premiums no cure for ailing sectorData released by the International Union of Marine Insurance (IUMI) reveals that marine underwriting premiums for 2018 marginally increased by 1% on...Foreign residents unable to buy life insurance in South KoreaA survey by the Korea Times revealed that a language barrier prevents foreign residents in South Korea from purchasing life insurance policies,...Powering through flat rates and disaster years"It's not about how hard you can hit; it's about how hard you can get hit, and keep moving forward. It's about how much you can take, and keep moving...APAC insurer the first to tackle issue of sleep deprivationSleep deprivation can lead to a downward spiral in both physical and mental health-related problems after affecting attention and memory capabilities...A successful coverdrive'Coverdrive', launched in September 2017 as a digital assistant for new insurance agents has become highly successful in the Indian market.Asian nations least prepared to face the twin threats of ageing and automationAccording to a global study published earlier this week, major Asian economies are among the least prepared to face the threats of ageing and...An ILS domicile in AsiaAsia is the most disaster-prone region in the world. However, many parts of the region remain underinsured against Nat CAT. Rajah & Tann's Simon Goh...Daktarbhai to keep citizens healthyBangladesh telecom operator Banglalink has launched a digital healthcare service platform called 'Daktarbhai' that will provide comprehensive...Next big pandemic could kill 80m, warns WHO reportAccording to a new report from World Health Organisation (WHO), the world is ill-prepared for the next big pandemic which could potentially spread...Podcast: Finding the right careDocDoc is Asia's leading patient empowerment company, helping patients find the right doctors for what ails them. In this episode of the podcast, we...Global economy to dodge recession, but expect flat growthThe global economy should avert a fully-fledged recession next year thanks to proactive measures by policymakers, according to trade credit insurer...FWD on the verge of closing deal on Vietnamese firmFWD Group is about to close a $400m acquisition of Vietnam-based Vietcombank Cardif Life Insurance, according to a Bloomberg report.Health insurance market projected to grow to $4.47bn globallyAccording to a report by Allied Market Research, the global health insurance industry was pegged at $3.15bn in 2018 and is projected to reach $4.47bn...Watch out for the knockout comboThe insurance industry is facing a paradox of opportunities and complex challenges. In a recent whitepaper, EY Asia Pacific insurance sector leader...Even the mighty may fallIn the last few years, there has been much talk within insurance about the need and ability to adapt to changes as technology evolves. The...Only 1 in 2 Singaporeans feel fulfilled in lifeA study by AXA Insurance Singapore has found that only 50% of Singaporeans surveyed feel fulfilled in life. And finances seem to be the greatest...A tree for every policy holderTata AIA Life, a private life player in India has pledged to plant a sapling in the name of the policyholder for every term policy that is bought.Connected devices a key tool for customer loyaltyBain & Company's fifth global survey of retail insurance customers finds "connected" consumers interact with their insurance carrier more than four...Singapore: Regulator reminds FIs of need to strengthen cyber risk cultureFinancial institutions should make it a priority to strengthen cyber risk culture within their organisations, according to a cyber security advisory...Floods and droughts cost Sri Lanka $19m annually in healthcare billSri Lanka spends an estimated $19m annually on healthcare due to floods and droughts according to a new research paper published in the September...ASEAN insurers tread towards digitisation: SurveyNon-life insurers operating in Southeast Asia believe that digitisation will have a limited impact on their premium growth in the short-term.Cyber-attack ranks as top concern for US businesses, but only half have cyber coverageThe Travelers Companies, the second-largest commercial P&C insurer in the US, has revealed that more businesses - regardless of their size - are...Australia: Insurers told to expect a host of new regulations in the near termFinancial service providers in Australia have to be prepared to deal with a number of regulatory changes in the next few years in the aftermath of...Insurers look to diversify investment portfolioThe investment strategy of Asian insurers has a large focus on risk management and portfolio resilience as they adopt a slightly more cautious...Losses from cyberattacks set to reach all-time highAnnual global cyber losses are expected to reach $6tn by 2021, with cyber security spending set to exceed $1tn cumulative in the five-year period...Singapore is the most AI ready citySingapore scored the highest score of all world cities surveyed (75.8 points out of a possible score of 100) to manage the disruption that will be...Highlighting road safety with electronic prosthetic limbsMSIG Malaysia has teamed up with philanthropist Sujana Mohd Rejab to design and build electronically controlled prosthetic limbs for people injured...Applying AI to insurance - it's not rocket science, but it's closeFloods, windstorms and earthquakes. It's hard to predict the exact moment they will strike, but with traditional data-based insights powered by new...AXA XL pushes water resilience in IndiaAs part of its Corporate Social Responsibility(CSR ) efforts to improve water resilience around the world, AXA XL has entered into a three-year...Sri Lanka faces 'feminisation of ageing'Sri Lanka is ageing rapidly and a greater share of the older Sri Lankans will be women, a trend experts refer to as the 'feminisation of ageing'.Insurance digital services expected to grow threefold within next five yearsAccording to a report by Bain & Co, in collaboration with Temasek and Google, digital financial services are expected to cross the $1tn mark by 2025.Three in four SMEs in Hong Kong experienced a cyber incident this yearSeventy-six percent of small and medium enterprises (SMEs) polled in Hong Kong have suffered a cyber attack in the last 12 months, according to a...New underwriting and investment policy by AXIS to support transition to low-carbon economyAXIS Capital has announced a new policy addressing thermal coal and oil sands-related underwriting and investments. The new policy will support the...Do you think more insurers should pull out from underwriting and investing in coal - as some already have?Digital payments to power financial servicesA report published by convergence payments solutions company Razorpay revealed that digital transactions in India witnessed 383% growth in the last...Clyde & Co issues alert on potential claims issues from typhoon HagibisClyde & Co partner Nick Sykes recently issued an alert on the significant insured losses that could arise from typhoon Hagibis, which made landfall...Allianz looks to boost presence in ChinaAllianz Real Estate, acting on behalf of several Allianz companies, has formed a joint venture with Alpha Asia Macro Trends Fund III - a fund managed...India's life industry facing slowdownA report by Kotak Institutional Equities Research has revealed that the Indian life insurance industry is facing a slowdown as individual annual...One ecosystem to bind themOn the sidelines of the 25th Indonesia Rendezvous last week, Asia Insurance Review sat down with Bindcover founder and CEO Victor Roy, to learn more...Four Asian cities among top 10 environment-friendly commuting cities in the worldTokyo, Beijing and Singapore are the world's leading environmentally friendly commuting cities. A recent report by data insight company Kantar said,...The most valuable insurance brand revealedA global ranking of brands across all industries has found Allianz to be the top ranked insurance brand for 2019, with the insurer sitting in 43rd...Boosting Asian insurance growth through digital and advanced analyticsAsian insurers have achieved remarkable growth in recent years, but digital disruptors are on the rise and threatening the status quo. With new...Indian InsurTech startups outperform traditional players in premium growthIndian InsurTech startups Acko General Insurance and Go Digit General have posted a 600% and 400% increase respectively in gross direct premium...Video: SIRC delegates speak on the biggest issues facing the (re)insurance industryAt the opening day of the 16th SIRC, we talked to several delegates and found out what they perceived to be the biggest issues that (re)insurers...Asia's emerging middle class: Three ways to improve penetrationPart of Asia's allure for insurers has been the growing middle class and their increasing spending power. A recent report by Peak Re talks about...Motor premium drives Indian non-life segmentA report by Kotak institutional equities research has shown that general insurance companies in India have reported 18% y-o-y growth in premium...Racial bias found in medical algorithmWhite patients are more likely to get extra medical help compared to black patients when an algorithm chooses who gets the additional attention.Podcast: The climate emergencyOn the sidelines of the 16th SIRC, we sat down with AbsoluteClimo co-founder and climatologist Brendan Lane Larson, visiting from the US, about how...Do you think more insurers should pull out from underwriting and investing in coal - as some already have?Insurance among the most data ready industries in APACThe financial services and insurance sector industries emerged as the most data ready industry in relation to its ability to make data analytics...Change management is on the minds of life insurance executives globallyChange management has emerged as the greatest internal challenge facing C-suite life insurance executives in the most recent biennial global survey...Verisk and Partner Re to leverage AI to transform life insurance underwritingVerisk, the leading data analytics provider, in collaboration with PartnerRe, a global reinsurer is developing new life insurance underwriting...Well-suited benefits package on the agenda for APAC employers, says surveyLess than half of employers In Asia Pacific believe their benefits package is tailored to meet the specific needs of their workforce, revealed the...Singaporeans not optimistic about their financial futureFour in ten Singaporean (41%) do not feel optimistic about their future financial stability despite being in relatively good financial health, as...Can reputation be effectively measured and insured?Reputation is a complex risk for insurers to quantify and insure given that it is intangible and often a by-product of another risk. In order for it...2020 Korea Insurance Industry OutlookThe economic outlook of South Korea for the upcoming year is, in one word, 'blue'.Three ways to get the most out of AI in insuranceMore and more insurers are turning to AI to improve various parts of the insurance value chain, in the hopes of getting ahead in the technological...Do you think the standards of actuarial examinations and education need to be updated?The coal catastrophe in BangladeshBangladesh presently generates about 3% of its total power requirement from coal, but it has plans to build 29 coal-based power plants in the next...Productivity gains from a more active lifestyle could add another $100bn to China's GDPIf all adults in China increased their physical activity by 20% and met at least the World Health Organisation (WHO) minimum requirements for...Growth in motor and casualty in TaiwanTaiwan's national reinsurer, Central Reinsurance Corporation (Central Re) was established in 1968 to promote the growth of the domestic insurance...Pakistan the next big emerging market?Asia's economic growth in recent years has been nothing short of phenomenal, and with low insurance penetration rates in many areas, there remains a...Adding value to the reinsurance modelMunich Re is best known for a couple of things: Being one of the world's biggest reinsurers; and being at the forefront of exploring the...Level of education and employment has a major correlation to insurance coverA study conducted by ReMark has found that the level of education and employment of people has a great impact on their choice to acquire insurance...Podcast: A Financial SupermarketGoBear is one of Asia's largest comparison sites for financial products, and it has recently been shifting towards becoming what they call a...Video: Common concerns amongst cedants in AsiaAt the sidelines of the 2019 SIRC, we spoke to Allianz Re senior underwriter Grace Lim about the issues their clients are facing in Asia and the...Waiting for signs of rate improvementOn the sidelines of this year's Asia Reinsurers' Summit in Hong Kong we caught up with next year's host, Malaysian Re president and CEO Zainudin...Have you or any of your clients suffered a cyber breach in the last year?Video: Helping to close the protection gapOn the sidelines of the 2019 SIRC, we spoke to Swiss Re head of P&C underwriting Sharon Ooi about the issues its clients are facing in Asia and the...More needs to be done on sustainability for Asia's agri and meat industryAnimal agriculture and meat consumption are significant contributors to climate change, and a recent report found that Asia's animal agriculture...Video: Opportunities in the reinsurance spaceOn the sidelines of SIRC 2019, we spoke to Aon Reinsurance Solutions global chairman Dominic Christian on what he found to be the biggest...7 in 10 health experts believe patients would share data in return for reduced premiumsDigital health, or HealthTech, is a rapidly growing segment that is expected to be worth billions of dollars in the coming years. The speed of...Singapore Fintech Festival - the issue with sustainable financeThere is a big gap between talk and action when it comes to sustainable finance, and the main cause of that is a lack of clear definition of what it...New coal-fired plants negate China's emissions effortsFrom January 2018 to June 2019, countries outside of China decreased their total coal power capacity by 8.1 gigawatts (GW), due to steady retirements...The rise of digital healthIt is natural to assume that with the developing nature of most of Asia Pacific's markets, their healthcare ecosystem is in a similar state of...In the next 5-10 years, do you expect more insurance policies in Asia to be 'bought' rather than 'sold'?Carving out a spot for MGAs in AsiaOn the sidelines of SIRC last month, we sat down with Tony Egerton, Nexus Asia CEO, about their growth prospects, the strength of MGAs, the...Let them shineBharti AXA Life, a private life insurer in India, launched its 'Let them shine' campaign on 14 November, which is the country's official children's...A new dawn for liability in Asia?Reinsurance broker New Dawn Risk aims to provide insurers in Asia with greater provision to write liability risk through broader reinsurance treaty...Video: Singapore FinTech Festival - the Singlife accountAt the Singapore FinTech Festival, we spoke to Singlife CEO Walter de Oude on their innovative new product and partnership with Visa.A video life certificateHDFC Life, an Indian private life player, has launched a video life certificate facility for its corporate and retail annuity customers, which is a...Singapore FinTech Festival: Biodiversity risk - the silent killerClimate change has been the topic du jour for over a year now, and companies and governments are taking notice and starting to take action. However,...How ecosystems create valueMcKinsey's latest report on ecosystems - defined as a set of connected digital services that enable users to fulfil multiple needs on a single...The risk explosion, according to Denis KesslerSocieties develop, risks expand - and that's why we need smart reinsurers. So said SCOR chairman and CEO Denis Kessler to Asia Insurance Review in a...Climate crisis and economic collapse: James VickersIt's no longer a surprise to read that the climate crisis is the biggest news in town. But it's time to inject a bit of realism into the picture,...Which of the following do you think is most responsible for stifling the industry's growth?Risk mapping and shock absorption: Denis KesslerReinsurance as a role-playing game? This may not be such a daft concept - and is not far removed from the process used by at least one global...Can tech firms help reinsurers get closer to the original risk?The last few years have seen reinsurers trying to get closer to the original risk through setting up their own primary carriers or via managing...The three bogeymen of reinsuranceReinsurers in Asia are currently being haunted - or stalked - by three malevolent bogeymen, according to Willis Re International chairman James...Video: Singapore FinTech Festival - the future of bancassurance in the digital ageAt the Singapore FinTech Festival last month, we spoke to Manulife regional bancassurance head of customer experience and innovation Ms Sonali Verma,...Death knell for brokers of SME insurance, says QBE chiefIt will be not be economically viable to distribute SME insurance through brokers for much longer. That was the stark message from QBE CEO Pat Regan,...Shared responsibility and shared commitment of reinsurersAsk 10 top reinsurers about their main purpose in life and it's likely that 10 different answers will emerge.Vulnerable children thrown a lifeline by insurerAgriculture Insurance Company (AIC) is making big strides to help school dropouts and kids with low learning levels as well as other vulnerable...Insurers storing up problems for the future: James VickersA rising tide lifts all boats. Could there be any nicer way to prick the ego of insurers who think they're outperforming the market?Video: Milliman @ Singapore FinTech FestivalAt the Singapore FinTech Festival, we talked to Milliman consulting actuary Kieran Walsh on its new product GBA Platform, and Milliman-sponsored...Indonesia's public assets covered for first timeFrom 1 December government buildings in seismically-active Indonesia will be insured by a consortium of 56 insurance companies for the first time.Dicing with death: Vaccination riskThe number of people who remain unvaccinated - the vaccination gap - is emerging as one of the greatest new risks faced by society. Failure to...Video: Singapore FinTech Festival - CoverGo and the API advantageAt the Singapore FinTech Festival, we talked to Hong Kong-based InsurTech CoverGo about their choice to create a plug-n-play API framework for...Indian women take better care of themselvesToday more women in India are buying health insurance for themselves. This has increased from 9% in 2016-17 to around 19% in 2018-19 according to a...Dealing with Vietnam's talent problemVietnam is currently facing issues over manpower, as the regulators continue to try and improve the professionalism and standards of the growing...Video: Singapore FinTech Festival - Proactive claimsAt the Singapore FinTech Festival last month, we talked to Irish InsurTech ClaimVantage CEO Leo Corcoran on why insurers need to be more proactive...Which of the following do you employ in order to increase talent retention in your organisation?Top 3 friction points between insurers and InsurTechsEveryone knows that the course of true love seldom runs smooth - but the course of grafting a tech-savvy start-up onto the overweight carcass of an...Video: Singapore FinTech Festival - challenges insurers faceFINEOS Corporation chief commercial officer Ian Lynagh shared the solutions to common problems that insurers faced in the digital world, in this...How the EAIC began: A slow walk through historyMr Julian J Locsin, who was one of the speakers witnessing the historic birth of the EAIC in 1962. Mr Locsin is now in his 80s, but he still cares...When cyber met agricultureWhen a leading global reinsurer is looking for growth, every line of business if fair game.Video: Singapore FinTech Festival - How Swiss Re leverages dataAt the Singapore FinTech Festival in November, we spoke to Swiss Re APAC head of digital and smart analytics Yannick Even, on how customer engagement...A new revolution in insurance: Grant PetersEY insurance sector leader Asia Pacific Grant Peters told Asia Insurance Review that insurers in the region have a critical role to play in helping...Do you think insurers have a role to play in getting people vaccinated?Understand the customer, bridge the protection gapIn 2018, the health protection gap in Asia was estimated to have reached $1.8tn. Cigna International Markets Asia Pacific CEO Patrick Graham believes...Tech can help industry make leap forward, says Lloyd's executiveInsurers should continue to harness technology and embrace digitalisation in order to remain sustainable into the future, said the president of...Every term claim to fund a child's educationMax Life Insurance, a private life player in India, has launched 'protect a smile' through which it will fund one year's educational expenses of...Tobacco giant's life insurance arm directs focus to Japanese vapersPhilip Morris' new UK life insurer, Reviti, is looking to take its 'get a discount if you vape' model to Japan, where the tobacco giant has a more...Video: Singapore FinTech Festival - The inspiration behind 360-ProVestmentAt a video interview during the Singapore FinTech Festival last month, 360F CEO Michael Gerber revealed the inspiration behind launching...Silent cyber assessment and managing evolving insurance riskP&C insurers are gradually getting more sophisticated at measuring risk aggregations and modelling potential losses from catastrophic cyber events,...Poor data is costing specialty insurers millions, shares InsurTechThe specialty insurance market has a long-standing data problem which is costing specialty market carriers millions.The next-level play?Razer, a company that specialises in making gaming peripherals, is leading a consortium that has submitted an application for a full digital banking...India: Insurance training institution calls attention to bank deposit insuranceRecognising the need to raise awareness regarding deposit insurance amongst the public in India after the recent failure of a local co-operative...Video: The pathway to digital ecosystemsFirms in the insurance sector are increasingly adopting digital ecosystems to scale up rapidly. We spoke to ebaoTech, a global digital insurance...Reinsurers increase exposure to Southeast Asia property CATProperty catastrophe reinsurance renewals proved to be very competitive in many Southeast Asian markets at the recent year-end renewals, with several...Australia's crucible of fireThe last few months have seen large swaths of Australia's countryside ravaged by bushfires and turned into a hellish landscape. A state of emergency...Green shoots of recovery for aviation despite tragic start to 2020The aviation sector was greeted with the unfortunate news of the crash of Ukraine International Airlines flight in Iran on Wednesday which killed all...Catastrophe issuance bond achieves historic $100bn milestoneAon Securities announced that the catastrophe bond sector has surpassed $100bn in cumulative issuance since its inception more than 20 years ago.Philippines plans for CAT pool as Taal rumbles onDiscussions are underway to form a catastrophe insurance pool in the Philippines as the local market looks to find a more sustainable solution for...Which do you think will help grow the SME insurance market the most?Environmental risks dominates top 5 concerns in WEF surveyFor the first time in the World Economic Forum's Global Risks Report survey's 10-year history, environmental risks took the top five spots. Over 750...Jakarta floods have resulted in $79m in insured losses so far - AAUIThe rains that fell on Jakarta on New Year's Eve and New Year's Day have cost insurers $79m in property and motor losses, according to the General...What is the top risk facing the insurance sector?Not ageing, just living longerThe average lifespan is increasing in a number of Asian countries and insurers have had to consider the effects of an ageing population. But given...Australia's perfect (fire)stormA deadly trifecta of soaring temperatures, dry weather, and strong winds has created ideal conditions for what could possibly be one of the worst...Labour productivity to suffer due to climate changeThere is so much more to climate change than meets the eye. Everyone can see its obvious effects - increasing average temperatures, extreme...Lloyd's urges India to lift foreign ownership cap for insurersLloyd's Chairman Bruce Carnegie-Brown has urged the Indian government to increase the limit for foreign direct investment (FDI) in insurance...Asia-Pac accounts for nearly half of economic losses from NatCATs since 2010The economic cost of natural disasters to global economies reached $2.98tn between 2010 and 2019, which was $1.19tn higher than the previous decade....The tie that binds (re)insurance and the global financial ecosystemAs the reinsurance market faces the heat of increasing protectionism, environmental and political headwinds - a question mark hangs over its future....Ping An continues on poverty alleviation pathAt the World Economic Forum Annual Meeting 2020 in Davos, China's Ping An Insurance presented its new poverty alleviation model, designed to leverage...Coronavirus outbreak may not trigger business interruption policiesBeyond the obvious health-related effects of the coronavirus outbreak, there is also the consideration that businesses - especially those in the...What is the most important thing that needs to be done as life expectancy increases?This story is part of our premium content on AIR+. To access more of such stories, please visit asiainsurancereview.com/AIR.Rough economic seas ahead as Wuhan virus spreadsExperts fear the Wuhan coronavirus outbreak in China will have a major impact on economic growth in China, and that of the wider global economy.Three Indian coronavirus casesThe coronavirus has spread to India, with three people testing positive in the south Indian state of Kerala. The state government has declared a...Coronavirus outbreak: Insurers step up to protect affected customersThe basic role of insurers has always been to protect customers against financial losses or adverse events such as the ongoing novel coronavirus...Which of the following technologies do you think will provide the most benefit for insurers in next year?Hannover Re sees 8.6% premium growth in Asia after January 1 renewalsHannover Re announced a strong premium growth volume in traditional P&C reinsurance across the globe, with its business in Asia, Australia and the...Actuarial talent supply struggles to meet increasing demandAsia's growth over the last decade has seen many (re)insurers establish and expand their presence in the region. However, insurance is a very niche...Insurer launches campaign against high beam usageHDFC Ergo, a private non-life player in India, in association with BIG FM radio has launched the 'High Beam - Not Ok please' campaign on the...Risk factors increase for Tokyo OlympicsEnvironmental risks rank high among the top concerns for the Tokyo Olympics this summer, according to Marsh Japan chairman Satoru Hiraga.Going beyond insurance in fight against coronavirus epidemicAllianz and China Life have stepped up efforts to aid China's fight in the 2019-nCoV epidemic, moving beyond providing insurance coverage. Allianz...Model predicts number of coronavirus cases to be ten times more than reportedThe novel coronavirus has infected more than 28,000 people to date, although significant under-reporting as well as undetected cases suggest the...Air of uncertainty hangs over Australia's private health insurance sectorOnly three private health insurers (PHIs) in Australia will have a viable business model by 2022 if rising disparity between claims costs and...The making of India's largest non-life companyThe Indian government is going ahead with its ambitious plan to merge three of the four PSU non-life insurers, leading to the creation of the...Coronavirus outbreak: What businesses should know regarding coverageThe new coronavirus (2019-nCoV) outbreak, originating in Wuhan in China, has resulted in more than 18,000 reported cases globally, with the World...Partner Re subject of acquisition talksParis-headquartered Covéa, the French mutual insurance company that covers property, liability and reinsurance, is said to be in exclusive talks to...How can life/health insurers in Asia be better prepared for pandemics?SCOR sees improved profitability with disciplined underwriting and primary rate increasesFor the full financial year 2019, SCOR Global P&C experienced a strong gross written premiums growth, of 15.8% at constant exchange rates, to EUR 7.1...An insurance IPO of Saudi Aramco-like proportionsIndia's recent proposal to list the country's largest life insurer, Life Insurance Corporation of India (LICI), would mark the largest IPO in the...Coronavirus outbreak: Likely boom of online insurance and healthcare servicesAmidst all the mass hysteria surrounding the coronavirus outbreak, people in affected Asian countries seem to be avoiding face-to-face interactions...Potential Covéa-Partner Re deal reinforces shift towards hybrid (re)insurance modelNews that French insurer Covéa is in talks with Exor for the purchase of reinsurer Partner Re potentially marks yet another convergence of the...Climate change could be driving increased disease outbreaksSince the turn of the millennium, the world has seen several viral outbreaks in relatively quick succession - SARS, MERS, avian influenza (H5N1),...Life insurers should stress test economic risk of pandemicsThe 2019 Novel Coronavirus is a timely reminder for life insurers to stress test their balance sheets in in the event of a pandemic outbreak.Future days for Philippines national reinsurerForecasting for the year ahead is never easy, but Nat Re president and CEO Allan Santos seems quite sanguine about the prospects facing the national...Life insurance in ageing JapanThe Japanese life insurance market is interesting because it is mature while being a prime example of an ageing society. It is also large enough and,...India's life insurers face tax exemption dilemmaThe Indian budget for 2020 has given individual citizens an opportunity to shift to a lower tax rate structure if they give up the benefits of...Insurance industry rallies to prepare for coronavirus escalationOutside of mainland China and the ill-fated cruise ship, Singapore and Hong Kong have the highest incidence of coronavirus infections. Singapore had...Too many cooks in Philippines insurance market?The primary insurance market in the Philippines has 86 players serving a population of 105m - suggesting that some consolidation might be in order.The future of insurance is in subscriptionsIf there is one thing that businesses have learned from the rise of Netflix, Amazon Prime and Apple - it is that the future of customer loyalty lies...Australia's 'uninsurable' properties rise amid spectre of bushfireThe bushfires that have ravaged Australia over the past three months have damaged over 2000 homes and cost at least AUD1bn in claims. A typical...Do you think the new no-frills uniform health insurance policy being introduced soon will boost health insurance penetration in India?IT modernisation in insurance: three paths to transformationTechnology has long been an essential part of the insurance industry, helping insurers develop new products, assess claims and transform the customer...Pakistan embracing biometrics for insuranceHaving implemented biometric technology in several areas such as bank account verification and identity verification at border crossings, Pakistan is...C-suites prime target for hackersNews last month that Jeff Bezos' phone was hacked, allegedly in the course of a WhatsApp communication with Saudi Crown Prince Mohammed bin Salman,...The dilemma of genetic testing in insuranceGenetic testing can be a powerful tool for insurers - potentially allowing them to price risk better. But it also carries with it some potential...China: Non-life sector to bear brunt of COVID-19As the COVID-19 epidemic rages on in China, international credit ratings agencies expect non-life insurers there to bear significant short-term as...The digitalisation of health insuranceAt the recent India Rendezvous 2020 conference, Dacadoo founder & CEO Peter Ohnemus speaks about the digitalisation of health insurance and how it...China's unique approach to selling insurance onlineHigh premiums, a lack of understanding of insurance and distrust are major barriers hindering the sale of insurance products in China despite the...Why has the coal sector come in for such heavy criticism - but the oil/gas sector has not?The uphill task of talent development in a nascent marketThe entry of foreign players has brought a wave of excitement regarding the future of Myanmar's nascent insurance market which is brimming with...China stock markets takes a hit amidst coronavirus fearsThe China stock market has moved lower in back-to-back trading days, falling more than 0.8% along the way. The Shanghai Composite Index (SCI) now...Insurance is all about resilience - right?The insurance industry in Asia has responded quickly and well to the still-evolving coronavirus situation - perhaps because many people in Asia still...Marine insurers brace for fallout from COVID-19 crisisThe COVID-19 outbreak is expected to have a 'significant impact' on the marine insurance market as the volume of cargo shipments within Asia and...Over, under, sideways, down: CoronavirusIn a typically restrained editorial in The Economist this week, the newspaper suggests that the most important thing that world governments can do to...This Asian tiger is ready for a giant leapBangladesh, a country virtually unknown to the world, is today giving its Asian big brothers a run for their money by clocking an average annual GDP...Pandemic fears throw fate of Tokyo Olympics into doubtAs the opening date of the 2020 Summer Olympics in Tokyo inches closer amidst the ongoing COVID-19 global health emergency, the risk of the games...World's oldest insurance marketplace embarks on concrete transformationLloyd's seems to be moving full steam ahead in its drive to modernise in a dynamic risk environment amidst rapid advancements in technology.Solid profit in 2019 despite challenging fourth quarter: PartnerRePartnerRe has reported a net income available to common shareholder of $890m for the full year 2019, which includes net realised and unrealised...Sompo International and Fisher Phillips team up to offer multi-language services to Japanese clientsSompo International has partnered with US-based labour and employment law firm to offer risk-control capabilities in both English and Japanese to its...Coronavirus poses major risk for holidaymakersTo travel or not to travel - is a major question facing many who have already planned vacations or are looking to travel amidst the ongoing...$9bn acquisition of PartnerRe by Covéa should be complete by 4Q2020Covéa, the French mutual insurance group, has approved a memorandum of understanding with Exor related to the proposed all-cash acquisition of the...Veteran independent claims specialist rebrands to continue expansionIndependent claims specialist Cunningham Lindsey Philippines has officially rebranded itself as Total Claims Specialists (TCS) with a view to...LIA Singapore names management committee, sets focus areas for 2020Ordinary members of the Life Insurance Association, Singapore (LIA) elected the members of the LIA management committee at the association's annual...CXA group lays off a dozen staff ahead of latest round of fund raisingSingapore-based insurtech CXA group recently confirmed that it had let go of 12 staff in order to improve future profitability as it seeks to raise...COVID-19 and risk management in IndiaWith 42 confirmed cases, India is still relatively better off than many other countries with respect to the coronavirus outbreak that has globally...What should a modern insurance broker look like?Clinical trials insurance crucial as medical community seeks COVID-19 cureMedical experts have been hard at work to find a cure for COVID-19, with dozens of studies underway in several countries. In some cases, clinical...AM Best assigns stable outlook to Japan life insurance marketAccording to AM Best, Japan's life insurance market grew by 2.9% in 2019 in terms of total annualised premiums of policies in force. Core profit...Industry body's campaign to popularise general insuranceThe general insurance council, representing all non-life insurers in India, has launched an awareness campaign across the country to popularise...Record Nat CAT losses raises questions about ILS marketInsurance-linked securities (ILS) are currently estimated to provide reinsurance capital in the range of $88bn (according to AM Best and Guy...AIA reports 6% growth in new business value for 2019AIA released its financial report for 2019, reporting a total 6% growth in value of new business (VONB) to $4.15bn across all markets. This...Parting words from AIA's group CEOAIA current group CEO and president Ng Keng Hooi is set to retire in June this year, after 30 years of experience in the industry. This report...Insurers step in to assure the massesProactive steps by insurers and the insurance regulator in India in the wake of the COVID-19 pandemic has had a positive effect on thousands of...InsurTechs must get innovative with productsMajor insurers and re-insurers are willing to embrace InsurTech when it comes to underwriting, sales, claims and routes to market, but have not yet...SCOR sees 3% drop in GWP for Asia marketAccording to SCOR's recently released financial report, 16% of its gross written premiums (GWP) was generated in Asia in 2019, compared to 19% in...Companies must beef up cyber security as more employees work remotelyCyber criminals are exploiting the novel coronavirus crisis by deploying new attack tools to prey on public panic amidst the global pandemic,...Higher investment returns push Korean insurers overseasA recent report by Fitch ratings reveals that Korean insurers in their search for higher investment returns and longer asset duration are...AMTD to acquire InsurTech start-up PolicyPalAMTD Digital has announced a planned acquisition of PolicyPal, a Singaporean InsurTech start-up that acts as an online insurance broker and product...Generali sees strong profits amidst sustainability effortsGenerali announced that the company has achieved a record operating result of EUR5.2bn ($5.bn), growth of 6.9%, in its 2019 financial report, with...Singaporean SMEs indifferent to impact of climate change - QBEAccording to a recent survey conducted by QBE Singapore, only 1 in 5 Singaporean SMEs felt that the impact of climate change was a relevant issue for...Getting your business continuity plan spot onWith the world in the grip of a pandemic, many companies will see some level of disruption to their business. This could lead to loss of revenue due...COVID-19 insight: Vaccine distribution will be critical to prevent a future pandemicBack in December last year, Asia Insurance Review published a story about the risks posed by the vaccination gap - something we feel is relevant in...COVID-19 insight: Misinformation could hamper vaccination efforts, increase risk of future pandemicBack in December last year, Asia Insurance Review published a story about the risks posed by the vaccination gap - something we feel is relevant in...Driving towards profitable growth in VietnamPVI Insurance is one of the biggest insurers in Vietnam, holding an estimated 15% of the Vietnam market. With the guidance from owner HDI Global, the...COVID-19 response is a landmark in mega risksInstitute of Operational Risk, England and Wales chapter chairman Dr Jimi Hinchliffe and Institute of Risk Management director of corporate relations...Korea most exposed to a Chinese slowdown, with impact on insuranceWhile Chinese production lines are almost back to full capacity after the lockdown in January and February to tame the spread of the coronavirus,...Manulife partners with dacadoo to help customers live healthierManulife has announced its collaboration with dacadoo, a Swiss-based global digital health platform provider, to enhance the company's digital...Environmental insurance may not cover coronavirus-related disinfection costsIt is often common for businesses to assume that infectious diseases such as COVID-19 are covered under environmental insurance policies and can be...Cyber insurance buying shows steady upward curve - MarshThe number of companies purchasing cyber insurance continued to increase last year according to Marsh, indicating that 42% of its US-based clients...Hong Kong government to push ILS billThe government of Hong Kong has introduced a bill to amend its insurance regulation to allow for insurance-linked securities (ILS) such as...COVID-19 insight: The economic fallout of a pandemicBack in December last year, Asia Insurance Review published a story about the risks posed by the vaccination gap - something we feel is relevant in...India: Motor third-party premium to remain the same until further noticeThe motor third party liability insurance premium in India for the financial year 2019-20 will remain the same beyond 31 March 2020 until further...Ping An's AI outperforms humansPing An came in on top at Stanford University's Question Answering Dataset 2.0 (SQuAD 2.0), an internationally recognised test of machine-reading...Do you think InsurTechs have made a positive or negative impact on the insurance industry in Asia?Hackers exploit COVID-19 crisisAccording to Check Point Software, there have been over 4,000 coronavirus-related domains registered globally since January 2020.Hannover Re delivers double-digit earnings and strong growth in AsiaHannover Re announced its audited numbers for 2019, delivering strong performance as it boosted its group net income by 21.2% to EUR1.28bn ($1.42bn),...Catalina seals acquisition of reinsurer ACRCatalina Holdings has completed the acquisition of Singapore-headquartered Asia Capital Reinsurance Group (ACR) following the necessary regulatory...Slowdown in claims volume due to COVID-19According to Sedgwick, its Asian offices have experienced a slight slowdown in overall claims volume over the last two months. Specifically, personal...China Re shows growth in 2019 financial resultsChina Re's recently published financial report for 2019 showed year-on-year growth of at least 25% in all sectors, recording a total of CNY144.97bn...China: Coronavirus drives digital shift in insurance sectorAs insurers around the world scramble to deal with the impacts caused by the ongoing global pandemic, they can learn a thing or two from insurers in...COVID-19 insight: How insurers can help prevent a future pandemicBack in December last year, Asia Insurance Review published a story about the risks posed by the vaccination gap - something we feel is relevant in...What measures have your company implemented during this period in order to combat the spread of COVID-19?The digital imperative in a time of troubleThe current pandemic has brought the world to its knees, and many people find themselves in difficult situations - in quarantine, facing pay cuts or...Flattening the COVID-19 curveBy now, you've heard the phrase 'flatten the curve' numerous times to describe slowing the growth of the COVID-19 outbreak. Flattening the curve is...Data security a top concern as more employees telecommuteCompanies in Southeast Asia have ranked data protection as the top priority when it comes to IT security issues, according to the annual Kaspersky...Forcing insurers to pay out could destabilise the industryThe COVID-19 pandemic has brought the world together in a truly unique way. People all over the globe are calling for solidarity and unity. But as...Integrating anticipatory action in disaster risk managementThe Overseas Development Institute has urged governments and international aid agencies to implement anticipatory action (AA) in their existing...A low carbon world is necessary to reduce future losses of NatCATs - Swiss ReIn Swiss Re's latest sigma report, the reinsurer expects climate change to increase the intensity and frequency of severe weather events and lead to...HDI Global reports strong solvency ratings for 2020HDI Global has stated that its solvency is in a good state, despite the pressures of COVID-19, and reaffirms its commitment to the Australian and New...Korea Development Bank selling life insurance unitThe Korea Development Bank (KDB) seems to be succeeding in its fourth attempt to sell its life insurance company, formerly known as Kumho Life...How Chinese insurers can improve customer experience where it mattersWhile many of China's industries have adapted quickly to meet changing customer demands, the insurance industry has taken a bit more time to respond....Climate change risk will transform energy sector - Willis Towers WatsonA report by Willis Towers Watson (WTW) said that climate change and relevant environmental social governance (ESG) will transform the energy...UK celebrity discovers that second-hand car owners may be due a refund from insurersA UK consumer rights TV show 'Got Your Back' found out recently that many second-hand cars sold in the UK last year were overvalued, due to an IT bug.Proactive planning can reduce impact on organisationsAIR Worldwide executive vice president and director of India Dr Praveen Sandri gives us his insights on the economic impact of COVID-19, the complex...5th Asia Trusted Life Agents & Advisers Awards receives 250 entries from 12 marketsThe 5th Asia Trusted Life Agents & Advisers Awards saw some 250 submissions from over 40 companies and 12 markets - Cambodia, China, Hong Kong,...Massive InsurTech investment unsustainable in the long-termThe fourth quarter of last year saw an all-time high of $2bn of investments into InsurTech, and 2019 as a whole produced 33.9% of total global...Risk: What the latest political action means for Hong Kong businessesThe world is gripped in the tight fist of the coronavirus, but life tries its best to carry on. This is best exemplified in Hong Kong - the city...How has the COVID-19 crisis affected your business?Severe weather rages on, costing billions in lossesLife might have come to a standstill as the world battles COVID-19 but death has not slowed down. Weather-related natural disasters claimed many...China: Question marks over pricing adequacy of new BI cover as firms resume workChina: Question marks over pricing adequacy of new BI cover as firms resume workWillis Re - Global reinsurance sees capital growth, but underlying returns remain lowThe total capital dedicated to the global reinsurance industry measured $605bn at year-end 2019, reflecting a robust 15% year-on-year growth (2018:...Aon expects new CAT bonds to be issued in Q2 2020Aon Securities is expecting the second quarter to see strong issuance of new catastrophe bonds and related insurance-linked securities (ILS), despite...Time to modernise a draconian insurance lawInsurance is a very old industry. And while it has managed mostly to evolve and keep up with the times, there are aspects of insurance law that...Malaysia: IFRS 17 delay a boost for takaful sectorMalaysia's insurance sector has 55 licensed (re)insurers and (re)takaful operators, and the postponement of IFRS17 is a relief particularly for the...A brief look at flood risks in AsiaFlood risks have been a thorn in Asia's side for many decades. The effects of climate change have only exacerbated those risks, increasing the amount...Providing strategic advice in a post-COVID worldAt the end of last month, (re)insurance strategic advisory firm Huntington Partners announced a partnership with Hong Kong-based financial services...Women in urban India increasingly opting for life insuranceOwnership and awareness of life insurance among women in urban India has registered a sharp increase over the last 12 months.The 'work from home' and cyber securityWith COVID-19 pandemic sweeping virtually every nation across the globe, most organisations are adjusting to employees working from home. However,...Pandemic shows need to update insurance productsGeneral insurers need to reinvent their products in order to increase the sector's economic relevance amid a new risk landscape. For instance, while...Which Asia Pacific country offers a glimpse of the future of health insurance?No lockdown blues for Indian life insurersA report by Kotak Securities has revealed that, despite the COVID-19 lockdown across the country in the month of April, life insurance companies were...Mitigation of business interruption during epidemicsNippon Life in talks with Indian bank for strategic partnershipJapan's Nippon Life has begun talks with Indian private lender IndusIndBank regarding a strategic investment. The bank is currently in the midst of...Creating the right solution for future pandemicsDespite a series of infectious disease outbreaks since the turn of the century, COVID-19 still caught the world off-guard. And as we now witness just...Munich Re, Lloyd's and Zurich called out for supporting Canadian tar sands pipelineA global coalition of 32 environmental, indigenous, and citizen groups is calling on insurers to drop their policies for the Trans Mountain Pipeline...Inaugural 'Women in Insurance Award' honours AXA female leaderZurich-headquartered insurance industry think tank Geneva Association has conferred its first annual 'Women in Insurance Award' to AXA Emerging...Many Asian nations show enough resilience to recover from the pandemic - FM GlobalAccording to the recently released 2020 FM Global Resilience Index, several nations in Asia Pacific are well-positioned to foster a post-pandemic...Recession will be short and sharp, APAC to lead economic recoveryThe impact of COVID-19 could potentially cost the global economy up to $12tn in lost output over the next 12-24 months, equivalent to the size of...Asia-Pacific companies face heightened cash-flow riskThree-quarters of companies in Asia Pacific have suffered from unpaid or delayed receivables in a survey conducted between December 2019 and February...Market set to harden with premiums possibly doublingAfter several years of declining rates, commercial insurance buyers are seeing prices go up to prices not seen in almost two decades, compounding the...A double whammy for insurers in India and BangladeshInsurers in India and Bangladesh already overwhelmed by the impact of COVID-19 on their operations and businesses are now facing a bigger challenge...Australian insurer pays A$350k for ransomware attackCyber criminals have become bolder since the pandemic began, said cyber insurance specialist Emergence. The insurer revealed that it has made a...Crisis will offer insurers new opportunitiesMuch of the focus on COVID-19 has been negative. The pandemic and consequent containment measures have had dire repercussions.Mental health a first line of defence in coping with pandemicEnsuring the mental well-being of its staff has been a key factor in helping AXA navigate through the COVID-19 pandemic, its CEO for Asia Gordon...The locust threat to Indian agricultureIndia is facing its worst threat from locusts in almost 26 years as huge swarms have destroyed over 50,000 hectares of agriculture land in seven...The new trust equation between insurers and customersWith digital adoption becoming mainstream, customers can now do their own research on policy options via digital channels. The trust equation between...Most Asian markets need to reform pension systems in the face of ageing populationsIn the first edition of its Global Pension Report, Allianz analysed pension systems around the world, looking at demographic and fiscal prerequisites...How is your company reacting to the latest postponement of IFRS17?A lot of policies may still be on the hook for BI claimsThe varying language used in insurance policies, as well as an expansive interpretation of 'physical damage', could mean courts looking favourably at...Cyclones keep insurers on their toesBack-to-back cyclones within a two-week period in different geographical zones of India have caused enormous economic losses and human misery, while...Allianz applying for asset management license in ChinaAllianz is in talks with Chinese regulators for a license as the German insurer looks eventually to offer broad asset management services in the...'COVID-19 world' presents digitalisation opportunities for insurance sectorThe ongoing coronavirus crisis appears to be a double-edged sword for the insurance industry. While the crisis has affected the profitability of...Most Americans are not prepared for the next natural catastropheA survey by the American Institute of Certified Professional Accountants (AICPA) has revealed that 61% of Americans are likely to be personally...Risk: Self-driving vehicles can prevent more crashes than study suggestsA study by US-based Insurance Institute of Highway Safety (IIHS), released on 4 June, found that self-driving cars would most likely only be able to...Trust in insurance was improving before coronavirusThe latest edition of quarterly Chartered Insurance Institute (CII) Public Trust Index released on 27 May has revealed that before the coronavirus...A typhoon double whammyTwo big typhoons hit Asia in the space of a week - typhoon Vongfong made landfall in the Philippines and typhoon Amphan hit the South Asia region in...Digitisation in insurance needs speeding up amid COVID-19Digitisation is no longer a mere competitive advantage but an integral part of business continuity plans (BCP) - something that has been put into...India: Savings business weak; protection fares well amid pandemicA report by Kotak institutional equities research has revealed that the COVID-19 lockdown across the India has had a major impact on the life...Insurance innovation lab opens in ShanghaiLast week, Shanghai played host to the China P&C Reinsurance (CPRC) Innovation Lab Unveiling Ceremony and Innovation Development Seminar.Credit insurance: Growing payments crisis in Asia poised to worsenBased on a survey conducted in March this year, a recent report by Atradius found that Asian companies are now utilising several credit management...Do you think it is safe for businesses in your community to end the quarantine and begin reopening?Insurers expected to invest heavily in cryptocurrency insuranceWith the cryptoasset and blockchain markets growing rapidly, new research from Evertas, the world's first cryptoasset insurance company, reveals 88%...Infrastructure investment is the way forward for economic recoveryInvestment in infrastructure development is set to be one of the main drivers of sustainable growth in the emerging markets after the COVID-19 crisis...Cyber security gets overstretched in the era of remote workingIn today's interconnected and technologically-advanced world, cyber risks have been put in the spotlight once again as an increasing number of cyber...Growing risk of pharma supply chain disruptionHealthcare systems around the world face a number of vulnerabilities, one of which is the risk to the global pharmaceutical supply chain.Harnessing technology to underwrite pandemic risksAs many people will have noticed by now, the COVID-19 pandemic has forced insurance to speed up the adoption of technology.German financier to acquire stake in Pakistan insurerDeutsche Investitions - und Entwicklungsgesellschaft mbH (DEG), a wholly owned subsidiary of KfW Group based in Cologne, Germany, has signed a letter...A new wave of underwriting solutionsTechnological advancements in AI, big data, and advanced analytics have made the fundamentals of good underwriting more data-driven than ever. At the...Climate change remains top priority for Asia's business leadersDespite COVID-19 dominating the world's attention, addressing climate risk remains a top priority for 57% of CEOs and CFOs surveyed in Asia Pacific...FWD broadens pan-Asian presence after buying stake in Indonesian insurerHong Kong-based insurer FWD Group last week reached an agreement to buy a significant minority stake in Indonesia's Asuransi BRI Life - the life...InsurTech plans to shake-up rural IndiaBima Mandi, an InsurTech launched in India, will focus exclusively on rural markets and make available specific products catering to this segment of...Three FinTechs combine to accelerate lending services across AsiaInsurance-comparison platform GoBear has partnered with cloud-banking platform Mambu and digital credit-scorecard provider CredoLab to spread its...Sixty-five and still going strongAs it celebrates its 65th foundation day, the Insurance Institute of India (III), a pioneer insurance training centre in Asia, is taking a number of...Export claims spike in ThailandIn the first five months of 2020, the number of Export-Import Bank of Thailand's (EXIM Thailand) export insurance clients that have filed documents...Profitability over growthHDI Global Singapore managing director Graham Silton talks about the Asian insurance markets and the impact of COVID-19.COVID-19 casts shadow on insurers operations, says surveyA survey conducted by the Insurance Institute of India (III) has revealed that COVID-19 will have a long-lasting impact on the insurance sector,...AXA XL maintains strong (re)insurance presence in ChinaLast week, AXA XL announced its switch to becoming China's first foreign-owned reinsurance subsidiary. The subsidiary, XL Insurance China, is to be...Insurer promotes healthy eatingAIA Insurance Sri Lanka organised a 'healthy cook-off' competition for its employees to remind them on the importance of nutritious food.Insurance markets will recover in 2021Most global insurance markets will recover in 2021 and global growth over the next decade should settle down at 4.4%, against 8.1% in Asia...Changing regulations to support the development of technologyOver the past decade, foreign companies have withdrawn from Taiwan's insurance market one by one.Asia to see higher cancer mortality by 2030Asia can expect to see a 40% increase in cancer mortality by 2030, with the region registering a high mortality rate compared to North America,...No to merger: India governmentThe Indian government's plan to merge three of the four public sector undertakings (PSU) non-life insurers into one behemoth has been put off, as it...Hong Kong: More than $3m paid in travel claims this yearInsurers in Hong Kong have paid out over $3m for travel insurance claims arising from the COVID-19 crisis, which include benefits such as quarantine...New covers to reflect realities of COVID-19 worldRemote working, social distancing, city lockdowns and face masks. These are just some of the new realities of life brought about by the COVID-19...Life premiums will be severely impacted by pandemicThe ongoing COVID-19 pandemic will have dire repercussions for the global life insurance industry, with a steep contraction in premiums being...China hit hard as global economy expected to drop by 4%Swiss Re's latest sigma report revealed that the reinsurer expects global GDP to contract by about 4% in 2020, over double the rate (roughly 1.8%)...Coronavirus-driven market dislocation is attracting capital into insuranceThe risk and reward calculation posed by the insurance sector in an increasingly hardening market is starting to look attractive to investors...India: Life insurer offers enhanced COVID-19 protectionAegon Life Insurance will now offer an upgraded life insurance cover with enhanced COVID-19 protection built-in. The upgraded policy would be...Major specialty insurer announces discount on auto premiumsSompo International will be offering small business clients a 15% discount on US commercial auto premiums for the period of 19 March to 31 May this...Pandemic exclusion and cyber renewal concernsAon's latest global reinsurance market outlook revealed that a number of new dynamics have emerged in reinsurance throughout the June and July...Will the health insurance industry be prepared for the next pandemic or calamity?A unique life insurance plan for the low-income strataIndiaFirst, a private life player in India has partnered with FinTech company InsureNearby to offer insurance to low-income citizens in the country.Lloyd's aiming to write GBP11bn of new business for 2021In a press briefing last week, Lloyd's of London CEO John Neal said that it had received requests from syndicates to write GBP11bn ($14bn) of new...Emerging risk: Many countries unprepared for ageing populationsMany governments around the world are not keeping pace with the needs of their ageing population, and things need to change quickly as current...Family business model in Asia set to change with new generation of business ownersThe multigenerational family business model could be set to decline in Asia, according to a survey of more than 1,300 family business owners in six...A proactive approach to tackling flood risksWith climate change continuing to drive the frequency and severity of floods, the worry is that even more flood-related risks could become...World suffers $75bn in Nat CAT losses in 2020Global natural disaster events during 1H2020 caused total economic losses estimated at $75bn - 25% lower than the 2000-2019 average of $98bn....India: Non-life market performance improving across segmentsThe Indian non-life insurance segment in June reported 8% year-on-year growth in premiums, led by 47% growth in fire, a robust 9% growth in health...The protection gap is just another way of saying insurance is too expensiveSpike in business insolvency expected at the end of the yearCOVID-19 is creating an "insolvency time bomb", with the bulk of insolvencies expected to occur largely between the end of 2020 and 1H2021, according...Determining the insurability of cyber risksThe pace of digital transformation has only grown faster since the pandemic forced people to stay at home and work remotely, catalysing an increase...The power of social media marketingSocial media has established itself as a fundamental part of most people's day-to-day lives. With its far-reaching penetration into the masses, it...Swiss Re releases financial report for 1H2020, sees net loss of $1.1bnSwiss Re reported a net loss of $1.1bn for the first half of 2020 after booking claims and reserves related to COVID-19 of $2.5bn. Excluding the...S&P declares positive profitability for New Zealand insurersNew Zealand has managed to weather the storm of COVID-19 with relative ease, with the country lifting domestic business restrictions in June,...South Asian insurers bring a ray of hope in the pandemicWith close to 2m COVID-19-positive cases in the region, insurers in South Asian markets are rising to the occasion to serve their clients by keeping...InsurTech creating job opportunities during pandemiciassure, an InsurTech start-up is employing local residents from rural and semi urban communities to deliver insurance products through a digitally...Agents need new support tools to compete in a pandemicInsurers will need to change how they support agents to help them become more resilient in the face of the pandemic and prepare to thrive in the...Where are the pandemic-related BI claims in Asia?Over the last few months many insurers in the US, UK and Europe have found themselves embroiled in lawsuits filed against them by companies whose...An 'unseen' riskIntangible assets account for an increasing proportion of companies' balance sheets, sitting at an estimated 85% of total business values across...India: Danger of mixing life insurance and investments in the aftermath of COVID-19The Scripbox financial freedom survey 2020 has revealed that uncertainty about economic recovery in the wake of COVID-19 is preparing citizens for a...True or false: Facebook and Google will be the biggest insurers within the next five years.China on track to raise healthcare standardsChina's ambitious series of healthcare reforms remain on track as the government seeks to improve access and contain costs of healthcare in the...Hong Kong poised to become region's InsurTech hubWith COVID-19 and lockdowns having emphasised the need for digital transformation greater than ever before, InsurTech is becoming increasingly...Now, gift an insurance policyA private non-life player in India has launched a personal accident policy that can be gifted to anyone.Adapting to rapid changes in the D&O marketFor the past decade, the D&O market in Asia was at the segment of the cycle where capacity was abundant, coverage was broad and rates were low....Could insurance for autonomous vehicles become a mainstream product soon?Work from home shows no adverse effect on productivityRemote working was a major cultural shift for businesses in the wake of the pandemic, and reduced employee productivity has been a concern among some...Mission: Sustainable - while protecting the bottom lineAs a risk-protection mechanism, insurance has the power to support sustainable development goals (SDGs) around the world.Suncorp to cease all oil and gas coverage by 2025Australian banking and insurance group Suncorp recently announced their decision to end all financing and insuring of the oil and gas industry by...With COVID-19 hogging the headlines, where does that leave Nat CATs?Risks are evolving, insurance needs to keep upThe world has changed a lot over the last few decades and is now more interconnected than at any other time in human history. With that comes a...Market hardening shows strongest momentum yetGlobal commercial insurance prices rose 19% in the second quarter of this year (2Q2020) - representing the largest year-on-year increase in Marsh's...Report on Australia's terrorism risk poolThe Australian Reinsurance Pool Corporation (ARPC) recently released its corporate plan for 2020 to 2024, which included an in-depth report of the...India: Insurers cash in on the growth of digital paymentsDigital payments have been the biggest beneficiary in the pandemic because of its multiple offerings. According to consulting firm RedSeer, the...Proper integration critical to successful implementation of machine intelligenceThe insurance industry is pushing forward with digital transformation and a growing part of this is the deployment of machine intelligence (MI)....Helping underwrite a more sustainable worldThe term 'impact investing' has been in fashion for a number of years, referring to investors making a positive social and environmental impact...Risk: Google expands its AI-powered flood alerts to all of India and BangladeshGoogle has expanded its AI-powered flood forecasting initiative (FFI) in India and Bangladesh to predict riverine floods for a landmass covering...Asia Pacific crop insurance market set to overtake USThe rise in digital initiatives for crop insurance and supportive government initiatives such as subsidies drive the growth of the global crop...India: Gig workers lack health insurance and suffer health ailmentsA new study has revealed that gig economy workers in technology startups including Uber and Ola have inadequate access to health insurance even as...Digital eyes shorten insurance claim processingAmidst the COVID-19 pandemic, it's not just groceries, but insurance claims too that are being delivered contact-free. Be it collisions or vehicle...China Life launches Singapore agency channelChina Life Singapore has launched an agency channel, six years on from its formation in the city-state back in 2014.India: Job loss and BI covers in second cohort of regulatory sandboxThe second cohort of regulatory sandbox projects announced by Insurance Regulatory and Development Authority of India (IRDAI) is likely to see the...(Re)insurance markets to continue hardening over the next two years(Re)insurance markets are set to continue hardening over the next two years or perhaps even a bit longer, according to Munich Re CEO of reinsurance...COVID-19 spells the end of China's Belt and Road Initiative (BRI) for insurersManaging flood riskRecent floods ravaging parts of East and South Asia have once again brought the issue of flood risk to the forefront. Flood risk has, in fact, been...Six months into the pandemic, InsurTechs continue to flourishIt has been half a year since COVID-19 was declared a pandemic, and one of the concerns that has stemmed from the pandemic-ravaged economy is that...Lloyd's sees mild loss in first half of 2020, but improvement in combined ratioLloyd's announced a loss of GBP 0.4bn (pre-tax) for the first six months of 2020, driven by GBP 2.4bn in COVID-19 losses contributing 18.7% to the...The changing nature of riskThe (re)insurance industry is navigating one of the most significant periods of change in recent times which is altering perceptions of risk across...India: Life insurance sector stagnatingA report by Kotak institutional equities research has revealed that the life industry stagnated in the month of August as a result of the COVID-19...Tech giant entering motor market puts pressure on incumbentsMotor insurers around the world look set to face even more competition as tech giant Amazon looks to enter the motor insurance market, according to...What will be the average cost of compliance of IFRS17 for the average insurer?FCA verdict on COVID-19 BI claims could be a bombshell for AsiaThe landmark verdict by the London High Court on Tuesday in the business interruption (BI) test case brought by the Financial Conduct Authority...The birth of a regional insurance giant: Aviva does things the Singlife waySinglife's acquisition of Aviva's Singapore unit has instantly propelled it from being a young aspirant to one of the big boys in the Singapore life...Global reinsurers recover from poor start to the yearAon's latest report on the global reinsurance market shows that the value of reinsurance remains strong despite the many economic uncertainties...New dynamic map of all Singapore InsurTechs launchedThe InsurTech sub-committee of the Singapore FinTech Association (SFA) has announced the launch of Singapore's first interactive InsurTech map,...Which decade will see the insurance agents disappear?Sponsoring reforestation in Brazil's Atlantic ForestZurich Insurance Group (Zurich) has agreed to sponsor a targeted, sustainable reforestation project in Brazil to convert barren farmland back into...Shift to digital could prove a huge boon for Japanese InsurTechsStrict regulation and a more risk-averse nature have hampered Japanese InsurTechs' efforts to grow in the past. However, the accelerated shift to...Reinsurers may suffer capital event if COVID-19 losses are followed by a major catastropheBeing the midst of the peak hurricane season, many reinsurers will be desperately hoping that this will be a benign year for catastrophes given how...A fifth of all countries at risk of ecosystem collapse - Swiss ReA new Swiss Re Institute index has revealed that 39 countries have fragile ecosystems on over 30% of their landmass due to declining biodiversity....Bhutan: Insurers face the heat from stagnant economyThe insurance industry in the tiny landlocked kingdom of Bhutan is facing multiple challenges from the COVID-19 pandemic as economic activities have...The vagaries of life insurance ownership around the worldConsumers in the Asia-Pacific region are far more likely to have life insurance coverage, when compared to the US. According to a recent LIMRA study,...What does lower-for-longer mean for insurance asset managers?Ceding cyber risk to ILS should be a natural progressionIn the coming years, innovation should continue apace in the ILS market with perils like business interruption or cyber finding a natural home.New standards to support customers with mental health conditionsThe Association of British Insurers (ABI) has launched mental health standards to provide better support for customers with mental health conditions...Pandemic offers life insurance chance to secure its futureLife insurers have an opportunity to fulfil growing customer needs and return to profitability and growth over the next decade, if they successfully...Australia: Mental health propels workers compensation to top of agendaWorkplace mental health injuries have risen in cost by 80% over the past three years while four out five Australian employees are calling on their...Developing next gen capabilities for insuranceHFDC Life, a private player in India, has launched the next phase of its corporate engagement programme to identify start-ups that are building...InsurTech has lost the element of surprise and won't supplant incumbent insurersNew digital era partnership to offer integrated insurance-based solutionsIt is fast becoming a necessity for businesses to transform digitally and use advanced technologies such as AI to become more agile and automate as...Taiwan proposes hike in National Health Insurance premiumTaiwan has proposed a hike in the premium for its National Health Insurance scheme (NHI) to maintain its sustainability, quality and fairness.The expanding utility of parametric insuranceCOVID-19 has shown that the lack of insurance protection is even greater amongst more complex and infrequent risks. There has been confusion about...Drop in aviation claims tempered by new risk exposure from grounded fleetAviation insurance claims predictably have experienced a significant reduction this year as a result of the pandemic, but the world's airline fleets...Two new models for flood risk in IndonesiaThe combination of climate change and unplanned urban development exacerbates flood risks for Indonesia. Due to its geographic location, Indonesia is...Maldives: Insurers hoping for a turnaround as tourism opens upThe insurance industry in the Maldives is facing one of its greatest challenges as the COVID-19 pandemic brought the country's economy to a complete...COVID-19 has created the perfect opportunity to narrow the protection gapThe insurance industry has not been spared the devastating impact COVID-19 has had on the global economy. There is, however, a consensus that the...A look at COVID-19 BI claims lodged in AsiaGovernments across Asia undertook a range of containment measures, including increased public health advice and monitoring, restrictions to...Aerospace industry faces elevated risks, traffic to recover only in 2024Global air traffic is not likely to recover to pre-pandemic levels until 2024, according to the latest forecast by Euler Hermes.Is there still a place for industry events such as SIRC and EAIC?Changing workplaces highlights importance of enhanced employee benefitsThe COVID-19 situation has dramatically changed workplaces, regardless of size and industry, and employees are looking for support more than ever....What is most likely to have the greatest impact on political risk over the next couple of years?India: Insurers must focus on millennials, says surveyA survey conducted by the Insurance Institute of India (III) has recommended that the life and health insurance industry must increasingly target the...Message from the EAIC General SecretaryThe EAIC was first convened on October 18th and subsequently became the East Asian Insurance Day after the 23rd EAIC in 2006 designated the day as a...The real value of insurance brokersThe insurance broking industry in Australia, similar to the rest of the financial services sector, has been experiencing increasing scrutiny of its...Two new parametric insurance projects take offVery often the insurance industry is found wanting in innovation and changing with the times. During the current pandemic times it is more so. While...Insurers reposition portfolios with potential COVID-related payouts in mindIn the face of prevailing uncertainty and prolonged low interest rates, close to 60% of insurers surveyed are looking to reposition their investment...Japan: Emerging from the pandemicNow that the world has more or less come to grips - and is learning to live - with COVID-19, the focus is shifting from survival and damage control...Southeast Asian reinsurers seek growth opportunities in life and healthThe Southeast Asian reinsurance market grew at a moderate pace in 2019, but many reinsurers still recorded underwriting losses due to pricing...Financial health has a profound impact on Indians, says surveyFinancial and physical wellbeing are the top two causes of stress for Indians according to survey.Where do you get your insurance and reinsurance news?Arctic routes prove problematic for marine insurersNavigating Arctic waters is particularly challenging for a vessel. Double the manpower is needed to navigate. Lookout shifts are kept to just one...ARPC showcases strong performance in FY19-20The Australian Reinsurance Pool Corporation (ARPC) last week published its 2019-2020 annual report in which it showcased strong performance for that...China: Launch of insurance blockchain innovation centreLate October saw the launch of China's first 'Insurance Blockchain Innovation Centre (IBIC)' on the sidelines of the second Lujiazui International...Funding for InsurTechs remain strong in 3QA total of $2.5bn was raised by InsurTech firms in the third quarter of this year, up 63% from the previous quarter, with the number of deals also...New coalition for business continuity insuranceThe overwhelming economic impact of the coronavirus pandemic and the government-mandated lockdowns to curb the spread of COVID-19 have brought to the...India: With focus on health, motor still in the redMotor insurance premiums in India declined 2% y-o-y in September 2020 which is down 4% y-o-y in the second quarter of FY21 compared to 24% y-o-y...Strengthening resilience in Southeast Asia using latest science and flood modelSoutheast Asia is one of the most natural disaster-prone areas in the world. Casualties and losses continue to increase, both due to a changing...Does bancassurance have a future if we no longer have bank branches?Insurers need more flexible workforces to increase resilienceHaving an elastic workforce, one that takes into account mobile working and flexible hours, is pivotal in allowing employers to tap into the unique...M&A is vital to insurers' resilienceCompanies cannot rely on organic growth alone, which is why programmatic M&A has been an element of every resilient company's growth. This is...Tech hires surge as insurance pushes forward with digitalThe economic impact of COVID-19 has resulted in numerous layoffs and given pause to employers looking to make new hires. Despite a drop in job flow...Research firm identifies leading InsurTechs around the worldSpecialist research firm FinTech Global has released its 2020 InsurTech100 list that identifies the world's most innovative solutions providers that...COVID-19 crisis highlights urgent need for inclusive insuranceOver 1,800 experts from around the world met online last week for the International Conference on Inclusive Insurance 2020 (ICII) - Digital Edition...New flood model for VietnamGuy Carpenter has launched a new, fully probabilistic model for Vietnam floods that provides countrywide coverage and enables insurers to assess...What opportunities has COVID-19 brought to your business or the insurance industry as a whole?China looking for long-term stability with motor reformOn 19 September this year, the China Banking and Insurance Regulatory Commission (CBIRC) introduced a comprehensive motor insurance reform to address...Countless opportunities for insurersOffice of Insurance Commission, Thailand secretary-general and insurance commissioner Suthiphon Thaveechaiyagarn offered some insightful remarks for...Singapore: Cyber attacks on SMEs on the risePhishing attacks against small and medium sized businesses in Singapore have increased by more than 60% in the first 10 months of this year - a...Indian life insurance sector on revival pathThe Indian life insurance segment has reported a 14% y-o-y growth in individual APE in October 2020 compared to 4% y-o-y in September 2020 and 6-40%...Nat CAT review 2020The global modelled insured average annual loss from catastrophes worldwide is nearly $100bn, according to AIR Worldwide's 2020 Global Modeled...Nat CAT and regulation amongst top risks for the industryThere has been an increase in frequency of Nat CAT events in Asia Pacific, according to S&P's latest report on top risks facing the industry.What would you rank as the top issue facing the reinsurance sector heading into 2021?Internal lapses main cause of most cyber claimsThe majority of cyber insurance claims are the result of employee mistakes and technical problems, although external cyber attacks are responsible...Insurtech Blink launches non-damage business interruption parametric solutionMore than three-fourths of US businesses are underinsured by 40% or more and 44% of small and medium enterprises (SMEs) in the US have never been...In Which direction do you think the insurance industry will move towards first?Pandemic accelerates protectionist trends, increases political riskThe global economic landscape will continue to evolve towards a tripolar system with the US, China and the European Union as its pillars, a result of...AIA to keep cutting coal investments after criticism from rights groupsIn response to recent criticism about its exposure to coal-related investments, AIA said that it has been actively addressing the carbon-intensity of...COVID-19 vaccine lowers tail risk for insurers amid steep curve towards economic recoveryThe discovery of a COVID-19 vaccine would help lower the long-tail risk facing insurers, although the path towards economic recovery remains long and...India: Motor revs, retail health moderatesThe Indian non-life industry reported a 7% y-o-y growth in premiums, excluding crop, in October 2020 which is marginally lower than 10-11% y-o-y...India: Standard health cover soon for vector-borne diseasesIndian health and general insurers will soon offer specific health insurance cover for treatment of vector-borne diseases like dengue, malaria and...IFRS sustainability reporting in JapanThe IFRS Council of Japan has submitted a comment letter on the IFRS Foundation Consultation Paper on Sustainability Reporting that was published on...Australian health insurers putting themselves out of businessAustralia's private health insurers are at risk of declining profitability, especially those who lack scale or access to capital. More importantly,...Global insurance protection gap rises to $5.78tnThe global insurance protection gap (IPG) for the total market (life and non-life) has risen to $5.78tn- 70.8% in the life segment and 29.2% for the...Japan: Life business dips but capitalisation remains strongIn Japan, the pandemic has had a negative impact mainly on the new policy sales while in-force business, capital and profitability have largely...Hong Kong InsurTech launches an augmented health platformHong Kong InsurTech StartupCare has launched an augmented health platform 'blüüm', offering medical insurance plans and health services.Asia Pacific handled pandemic well but challenges remainAustralia, Japan, Korea, and New Zealand did better than most countries in Asia Pacific region in flattening the curve of COVID-19 and containing the...Singapore deputy PM outlines plans for sustainable economyAt the opening of the Singapore FinTech Festival yesterday morning, Singapore's deputy prime minister Heng Swee Keat spoke about creating a more...Europe: Life insurers adopt predictive analysis for positive business impactIn a highly competitive market with tight margins, slow growth and high operating cost, life insurers are rapidly adopting predictive analytics to...Insurer launches tech-backed group health productsICICI Lombard, a private non-life player has partnered with employee health insurance start-up Plum to launch India's first technologically-backed...How would you rate 2020 in terms of your business performance?CII aims to close customer expectation gapCustomer expectations regarding insurance are changing significantly. This is not restricted to one market or one line of business - across the board...BI risks need a shift in the COVID-19 crisisA RIMS-Prudent Brokers survey released at the RIMS Risk Forum India event last week has revealed that the COVID-19 pandemic has caused huge business...Helping homeowners manage wildfire riskFor homeowners in wildfire-prone areas, as the underlying wildfire risk continues to increase, there are exacerbating pressures on the affordability...Global insured catastrophe losses in 2020 hit $83bnInsurance industry losses from natural catastrophes and manmade disasters globally amounted to $83bn in 2020, according to Swiss Re Institute's...The insurance market in Asia is currently favourable for mergers & acquisitionsCOVID-19 brought increase of digital platforms and mind-set change - Swiss ReSupportive government policies and a COVID-enforced spike in digital activity are pushing consumers - and their insurance needs - online. The growing...Reinsurance rate hardening must be sustained to have material impactThe current hardening of reinsurance rates would need to continue for at least a few more years to have a meaningful impact for reinsurers, many of...MSIG and Carro launch motor UBI product across Southeast AsiaCarro, Southeast Asia's automotive marketplace, has launched the region's first-ever behaviour and usage-based car insurance (UBI) in an exclusive...Insurance solutions for Southeast AsiaConsumers in Southeast Asia have an issue with respect to the affordability, accessibility and the education aspects of insurance. These were some of...Indonesia: ZhongAn and BCP partner on digital insurance platformBumi Cakrawala Perkasa (BCP), and ZhongAn's ZA Tech recently announced a strategic JV to create an InsurTech platform in Indonesia, aimed at...Claims: Level of customer satisfaction high in USInsurance consumers in US are generally more satisfied with the digital claims channels of their insurers than the consumers in the UK, Australia,...Sophisticated cyber risks loom for insurersWith insurance companies spending money on marketing and advertising online, they are opening up gateways for fraud in different forms as cyber risks...Lloyd's strategy to accelerate transition to sustainable economyLloyd's will cease all fossil fuel insurance from 1 January 2030 according to its first environmental, social and governance (ESG) report 'Lloyd's...Brexit insurance headache for UK drivers: BIBABeginning 1 January 2021, UK drivers to Europe may face potential delays and additional checks at ports. The additional checks could be to ensure...Property rate increases more moderate than earlier predictedReinsurance pricing firmed up during the 1 January renewals although rate increases were more modest than what had been expected earlier in the year,...InsurTech dealing in pet insurance to expand in ChinaHong Kong-based InsurTech OneDegree has entered into a strategic partnership with Bihubao, which runs one of China's biggest online reciprocal...India to introduce standard home insurance policy from 1 AprilInsurance Regulatory and Development Authority of India (IRDAI) has announced a standard home insurance policy which will be offered by all general...Giving others an inside look into insuranceFWD Group (FWD) has announced the launch of its first-ever podcast series, 'Changing the way people feel about insurance... with FWD', which will...PTSD, fatigue among top trends to expect in 2021The potential long-term mental, physical and emotional impacts of COVID-19 cannot be overstated and will continue to shape the challenges that the...Insurer promotes reading habit amongst needy childrenFuture Generali India, a private non-life insurer, has teamed up with 'Room to Read' an NGO that helps underprivileged children to improve literacy...Insurer supports education of underprivileged childrenMax Life Insurance, a private life player in India has extended its 'protect a smile' initiative for another year, through which it will fund one...Indians embrace digital purchase of insuranceIndian consumers now use digital platforms extensively and prefer to purchase insurance through them according to a new survey by Swiss Re.Credit insurance rates to harden further as more insolvencies expectedThe COVID-19 crisis has created an insolvency time bomb which is set to spark a series of insolvencies in 2021, particularly as stimulus measures...How does your company use customer data?Global reinsurance capital recovered to pre-pandemic levelsDriven by continued capital market recovery and new equity issuance, global reinsurer capital had returned to its pre-pandemic high of $625bn at the...Business trust in insurance fallsSMEs in the UK are disappointed with the way insurers handled claims relating to COVID-19.PMFBY ramping up adoption of cutting-edge technologyThe latest incarnation of India's government-sponsored agricultural insurance programme, PMFBY, has been around for almost five years now. While it...Pandemic continues to make urban India insecureThe Max Life India Protection Quotient 3.0 (IPQ 3.0) survey conducted by private life player Max Life in partnership with consultancy firm Kantar has...Motor insurance premiums to be linked to traffic violations.India is likely to link motor insurance premiums with traffic violations as recommended by a working group of Insurance Regulatory and Development...Growing acceptance of digital health tech in AsiaMore than 81% of respondents surveyed say that technology has improved their access to health services, while 60% believe that it has led to better...Protects biodiversity while promoting healthThrough an event that took place last December, MSIG has managed to protect 40,000 trees, partnering with District Race Singapore 2020.Which part of the insurance value chain do you think will see the most automation?Willingness to share data rises but trust in insurers fallMore consumers are today willing to share their lifestyle data with insurers but their trust in insurers to ensure the security of that data has...Malaysia: Digital insurance platform records explosive sales growthWith increased traction in online insurance sales owing to COVID-19 and resultant lockdowns, a direct-to-consumer digital insurance platform has seen...Mental health now on insurers' radarMore insurers across Asia are focusing on mental health issues which has seen an exponential increase during the COVID-19 pandemic.Lloyd's and COVID-19 promote uptake in e-trading platformsThe uptake and evolution of e-trading platforms have seen a sharp rise in 2020, accelerated by the necessities of COVID-19 and the push from Lloyd's...What is the most effective way to close the protection gap in Asia?Above-average annual insured Nat CAT losses in 2020Insured losses from major natural catastrophes in 2020 reached an estimated $78bn, the fourth largest total since 2011, and about 17% higher than the...Asian insurance industry to transition from 'adaptive to resilient'The major focus areas for the industry in 2021 will be on health and life products, change in the regulatory landscape and focused digital engagement.China revises solvency regulations for insurersChina Banking and Insurance Regulatory Commission has revised the solvency regulations for insurance companies. The revisions will replace the...COVID-19 made pandemic/health crisis 'top 10' riskCOVID-19 has made businesses reprioritise their risks and to innovate and explore new risk management strategies.APAC businesses found to be more pandemic resilientBusinesses in APAC were more prepared to react to a pandemic compared to companies in other regions, according to the results of a global survey...Scientists warn against using climate models for financial riskClimate models are not designed for use by the financial industry, and misuse of such models could be a growing risk to financial markets, said a...Should disaster management education be made mandatory in schools and colleges?India: Life sector set for slew of changes this yearThe Indian government has proposed a number of changes in the insurance sector including in the foreign direct investment (FDI) limits, changes in...Uttarakhand Nat CAT: Initial losses put at over $200mThe jury is still out to decide what caused the Uttarakhand disaster on 7 February 2021 - a glacial lake burst or avalanche. The exact cause of what...China: Insurance hiring surgesOver the last two years, the Chinese government has launched several stimulation policies, including lifting the stock holding quota for foreign...Pandemic toll on mental health of insurance staff tooAlmost six out of 10 insurance professionals suffered depression, anxiety, emotional distress or another mental health condition during the COVID-19...Tech sector in the crosshairs of rising political riskThe technology sector is exposed to greater political risk than ever before and more firms are seeking political risk insurance, as the shift towards...In which of the following areas will your company be increasing its headcount within the next 12 months?Asian customers take more responsibility for personal healthPeople across Asia are taking more control of their health and retirement planning, as they look to minimise COVID-19's longer-term impact on their...Risk managers warned of cyber risks to industrial control systemsInternet of Things (IoT) devices are posing an increasingly high risk of cyber attack to industrial and manufacturing businesses according to a new...India: More needs to be done to reduce road accidentsIndia witnesses close to 500,000 road accidents every year resulting in over 150,000 deaths, serious injuries and damage to vehicles and insured...General insurer launches index to help India Inc manage risksIndian general insurer ICICI Lombard has launched a 'corporate India risk index' to help companies understand the level of risk that their business...Singapore sees web threats increase by 82% last yearSingapore has seen nearly 8.5m web threats in 2020, an 82% increase from the 4.6m in 2019, according to the latest research from Kaspersky. Despite...Cyber risks to industrial control systemsInternet of things (IoT) devices are posing an increasingly high risk of cyber attack to industrial and manufacturing businesses according to a new...Which of the following do you think will have the greatest impact (positive or negative) on the P/C insurance industry in the next 25 years?No-fault compensation programme for COVID-19 vaccinesA new global programme will make compensation available to eligible individuals in 92 low- and middle-income countries without the need to resort to...Reputational risk, the rising tideAs society becomes increasingly digital savvy, more and more people are turning to online reviews on rating sites, social media and online forums....Asian insurers should make health insurance a separate businessThe health protection gap in Asia was valued at $1.8tn in 2017, 10% of average household income, and is projected to widen more quickly and may...Gig workers to form 20% of finance workforce in next five yearsMore than half (52%) of financial institutions say they expect to have more gig-based employees in the next three to five years, according to PwC's...Life insurance most preferred financial toolLife insurance is the most preferred financial tool by individuals across India today.COVID-19 weighs down Munich Re profits for 2020The German-headquartered reinsurance group Munich Re closed the year 2020 with a profit of EUR1.2bn ($1.46bn) despite the year being marked by high...Making history with record MDRT qualifiersSri Lankan life insurer Union Assurance has created history in the market with a record number of 172 Million Dollar Round Table (MDRT) qualifiers...What is your organization's top priority for 2021?New cryptocurrency InsurTech platformThree specialist firms in the insurance industry will create a secure InsurTech platform that will support cryptocurrency investors in insuring...India: Group term life owners are financially secureThe India Protection Quotient (IPQ) 3.0 survey has revealed that 57% of urban India's salaried professionals feel that the group term life (GTL)...Concerns raised over reinsurance implications in BI test caseThe UK Supreme Court issued its decision in the Financial Conduct Authority's (FCA) BI test case on 15 January, ruling that some forms of BI...India to set up a P&I insurance clubThe Insurance Regulatory and Development Authority of India (IRDAI) and Indian National Shipowners Association are in talks to develop a protection...Insurance prices to continue rising amid greater scrutiny on underwritingInsurance pricing will continue to increase across most business lines globally this year as carriers look to mitigate poor underwriting performance...Cyber cover needs to be standaloneOne of the things the pandemic has highlighted over the last year is the importance of transparency and clear wording in the policies of insurers, as...COVID-19 pushed down the 2020 net income of top four reinsurers by 69%The world's four largest reinsurers recorded a 69% fall in net income in 2020. In 2019 the net income of these four insurers (Munich Re, Swiss Re,...UK businesses should buy adequate cyber cover as risk perception soarsThe Association of British Insurers (ABI) has said that UK businesses should ensure they are adequately insured against cyber risk. A poll of ABI...Why do you think the take-up for cyber insurance is still low among businesses in Asia?Greensill: How the insurance cookie crumbledOn Monday, 8 March 2021, supply chain financing specialist Greensill Capital (Greensill) filed for insolvency after Credit Suisse decided on 1 March...Strong performance by Indian life players in FebruaryThe Indian life insurance industry witnessed a strong performance in February with individual annual premium equivalent (APE) growth at 23% y-o-y in...Indonesia: Govt support, economic recovery to boost takaful growthThe takaful segment in Indonesia accounted for 7% of the country's overall insurance market - in terms of new business premiums - in the first 11...Southeast Asia's first insured bitcoin fund launches in LabuanThe first insured bitcoin fund, BCMG Genesis Bitcoin Fund-I (BGBF-I) was launched on Monday to meet growing global interest from institutional and...Insurer extends 'helmet saves' campaignThe increasing number of two-wheeler accident deaths on Indian roads has prompted one life insurer to extend its road safety campaign across the...New regulations will help Thai insurers leverage alternative financing sourceNew regulations in Thailand allowing insurance companies to leverage insurance capital bonds (ICB) as an alternative source of financing will boost...Vast majority of Singaporean retirees regret not planning earlier for retirementA new survey of Singaporeans' retirement saving priorities and attitudes has revealed that 72% of retired respondents regret not saving for...Flood insurance to the rescue of poorer communitiesA climate-risk insurance pilot scheme launched in Bangladesh last year by the World Food Programme (WFP), Oxfam Bangladesh and Weather Risk...Which of the following do you see as the biggest insurance growth opportunity in 2021?China: Pet insurance needs to be improvedPet insurance in mainland China is still in its nascent stages - options are few and limited in their scope - and more than half of the pet parents...Pandemic has changed the way consumers buy insuranceThe coronavirus pandemic has changed what consumers consider most important when purchasing an insurance policy according to a survey by the...Risk of political violence on the riseCompanies need to prepare for more political disturbances and violence in the year ahead.A voice bot for instant motor claims registrationIndian private non-life insurer, ICICI Lombard has launched a voice bot that will assist customers to instantly register motor claims, thereby...Malaysia: Lockdown leads to improved combined ratio for motorThe combined ratio for motor business in Malaysia improved by 6% y-o-y to 98.3% in 2020 as lockdown measures imposed for much of the year led to a...Which of the following do you think will have the greatest impact on reducing the cost of healthcare?India regulator extends sale of short-term health coverInsurance Regulatory and Development Authority of India (IRDAI) has allowed the sale of short term COVID-19 insurance policies till 30 September 2021.Digital health and wellness companies lack adequate insuranceInsurance companies and brokers must go further to support the fast-growing digital health and wellness sector with more specialist coverage that...Malaysia: Insurance industry has a strong future post-COVIDMalaysian Re released the second issue of its Malaysian Insurance Highlights 2020 in late February, covering the development of the insurance...Health insurance in India soaring to greater heightsA health insurance sector report has revealed that standalone health players are best placed to capitalise on the profitable individual health...CATs cost insurers $89bn in 2020 as threat from secondary perils riseGlobal insured losses from disasters in 2020 reached $89bn, according to Swiss Re's recent sigma report. The figure is the fifth highest on sigma...How much of your claims process is automated?Which of the following do you think is most responsible for stifling the industry's growth?Financial institutions spend increasing amounts on productivityFinancial institutions are spending, on average, 14% of annual operating costs on change management functions to drive greater productivity gains, a...International CAT loss activity in 2020 well below annual averageInternational CAT loss activity in 2020 was well below the long-term annual average and the benign trend has continued in the first quarter of 2021...India: Surge in health covers with higher sum insured in 2020-21There has been a notable improvement in the amount of the overall sum insured in health insurance policies that consumers opted for in financial year...Flexible working to be focus as UK exits lockdownAs the UK exits lockdown, flexible and remote working will remain an important focus area for the members of Chartered Insurance Institute (CII) and...Insurer launches work-from-anywhere for employeesAegon Life, a private digital life player in India has introduced a work-from-anywhere (WFA) policy for all its employees that gives them the...Four start-ups selected for InsurTech accelerator programmeFour start-ups have been selected under the second edition of the InsurTech accelerator programme 'Max Life Innovation Labs 2.0'.Hongkongers are the fourth most stressed population globallyThe overall wellbeing in Hong Kong improved slightly by 0.4 points between August and October 2020 (from 56.4 to 56.8) and was lower than the global...Nearly half of global CEOs don't expect return to 'normal' until 2022The majority of global CEOs will wait for more than 50% of the population to be vaccinated before returning to the office and nine out of 10 leaders...Singapore: Insurers with digital channels score big on customer satisfactionInsurers in Singapore that utilise digital channels to facilitate interaction with their customers were rated more highly, according to the finance...Australia: March floods raise general insurers' Nat CAT burdenLosses emanating from the heavy rainfall and severe flooding in Australia's eastern states in March this year are expected to put pressure on...What is the most important thing that needs to be done as the population's life expectancy increase?Zhong An opens Fintech centre in SingaporeZA Tech Global has opened its first Asia Fintech Centre (AFC), which will specialise in solving specific use-cases in insurance and financial...India: COVID-19 claims settlement not keeping pace with the claims filedThere is a large gap of 54% in the value of COVID claims submitted and COVID claims settled by the general insurers as on 31 March 2021 according to...Conditions favour growth of captives in Asian marketsCompanies are increasingly using captive insurance to self-insure their risks, as rate hardening and COVID-19 disruption affect commercial insurance....Bite-sized insurance plans gain traction in IndiaThe COVID-19 pandemic has changed consumer expectations and needs for insurance and small ticket insurance plans are today gaining traction across...A mental health pandemic could be the next contagionMental health problems caused by the COVID-19 infections will be the next pandemic according to a new study published by the Barcelona Institute for...Prolonged low interest rates pose long-term implications for APAC insurersLower-for-longer interest rates have a number of implications for the credit profiles of Asia-Pacific (APAC) insurers, with the overall impact...Insurers believe self-service will be the norm in the next five yearsThere is a major move online by the consumers for the insurance purchase process for personal products like life, health, and property and casualty...India: Life insurers face the low base effectLife insurers in India reported high individual APE growth of 90% y-o-y in March 2021 on a low base translating to 40% y-o-y growth in the fourth...Association of British Insurers launches drive to boost mental health standardsThe Association of British Insurers (ABI) has launched a free online mental health training platform for improving the level of understanding of...Governments must be 'insurers of last resort' in pandemic risksCOVID-19 has shown that pandemic-related business interruption (BI) is directly linked to the decisions of governments to implement lockdown...AXA Switzerland accepts insurance premiums payments in bitcoinAXA is the first all-lines insurer in Switzerland to allow its customers to pay their bills with bitcoin. This represents an investment in the...Health awareness does not lead to actionA survey of 5,000 people in Asia found that people are more than minimally aware of the benefits that accompany a healthy lifestyle but are still...Which lines of business need to be monitored following the Suez Canal incident?SCOR announces new carbon reduction investment targetsSCOR has announced that it will reduce the carbon intensity of its corporate bonds and listed equities portfolio by 27% by 2025, in order to reach...India: IRDAI must explain why mental illnesses are still excludedThe Delhi high court has asked the Insurance Regulatory and Development Authority of India (IRDAI) to explain the basis on which it has been...India's non-life segment delivers impressive performanceIndia's non-life segment delivered premium growth of 7% in financial year 2020-2021, despite a 2% y-o-y decline in motor premiums.Crisis resilience critical for insurers todayA webinar organised by the Insurance Institute of India (III), along with the Rauch Education and Academy of Crisis Management and Auditing (ACMA)...Hong Kong releases details on new ILS grant schemeHong Kong's Insurance Authority has announced the details of the two-year pilot insurance-linked securities (ILS) grant scheme (the grant scheme)...Global commercial insurance pricing up 18%Global commercial insurance prices increased by 18% in the first quarter of 2021 according to the Global Insurance Market Index released by Marsh.Risk: Pandemic led e-commerce boom could spark rise in warehouse blazesThe pandemic-propelled e-commerce boom could spark a surge in warehouse fires as the demand for storage and distribution spaces rises.Do you think the recent Greensill collapse will put a greater focus on risk management throughout Asia Pacific?India: Increasing insurance penetration via model insured villagesInsurance Regulatory and Development Authority of India (IRDAI) has sought to increase insurance penetration in rural areas of the country through...Insurer partners with NGO to establish school librariesJubilee Life, a private life player in Pakistan has collaborated with Charter for Compassion (CfC), a not-for-profit in the development sector, to...AXA to stop covering ransomware in FranceAXA has declared that it will no longer be writing cyber insurance policies in France that reimburse customers for extortion payments made to...Transforming health underwriting by using digital health dataSCOR and HealthyHealth Group are partnering to build a digital underwriting process that uses digital health data to provide instant underwriting...QBE and Mind collaborate in mental health supportTo coincide with Britain's mental health awareness week, QBE Insurance has developed a customer self-assessment tool to enable companies to assess...Indian insurers up the ante in COVID-19 fightWith India facing the full fury of the second COVID-19 wave, insurers are contributing resources to help in the fight and also giving priority to the...AXA hit by ransomware attack in AsiaAXA has revealed that several of its Asian businesses were hit by a 'targeted ransomware attack'. The hackers have claimed to have seized a large...Advanced protection is necessary to protect against cyber threatsCurrent cyber security threats are so sophisticated that basic security measures are no longer sufficient to protect organisations from cyber crime,...What do you see as the biggest barrier for collaboration between incumbent players and insurtechs?Insurers must blend physical and digital distribution modelsInsurers need to rethink their distribution models to offer uninterrupted service, superior customer experience and maximum value as the industry's...Australia: Consultation paper for cyclone and flood reinsurance poolThe Australian Treasury has convened a cyclone reinsurance pool taskforce to consult with industry and community representatives, as well as other...Brokers encouraged to build better relationshipsInsurance brokers should build on existing good practice by educating consumers about the products and services available according to a new report...Nat CAT accelerate reinsurance demand in Asia PacificIncreasing frequency of natural catastrophes has created demand for reinsurance in the Asia-Pacific region as domestic insurers seek financial...Spreading positivity amidst the pandemicPrivate life insurer HDFC Life has launched a digital campaign to spread positivity and to encourage individuals to make a difference in these...With all has occured in the past year, which of the following risks is the one you find the most important to address?Asia's uneven risk landscape could impact economic recoveryAsia remains vulnerable to significant business disruption according to the newly released 2021 FM Global Resilience Index, the definitive global...India: Regulations to increase foreign investment to 74% notifiedThe final rules for increasing the foreign investment ceiling from the current level of 49% to 74% in the Indian insurance industry have been...Do you see corporates in Asia pacific taking the role of 'corporate risk manager' more seriously?New Zealand: Canterbury region experiences one-in-100-year floodingHeavy rains in the Canterbury region of New Zealand over the weekend (30-31 May 2021) have caused huge floods and damaged numerous homes and threaten...Risk faced by SMEs conducting business digitallyChubb has released a report, 'Digital Business Accelerated', which explores how small and mid-sized businesses are managing their digital...Thailand: Non-life shows resilience despite COVID-19 headwindsHaving recorded 3.5% growth in direct premiums written to THB253bn ($8.3bn) in 2020, Thailand's non-life insurance market is expected to continue...Worldwide insurance community extends support for India's COVID fightA number of international insurers including MetLife, AIA Group and Sun Life have stepped in to help India with resources to fight the second...IFRS17 implementation to cost industry up to $20bnThe total cost to be borne by the global insurance industry to implement IFRS17 is estimated to be $15-20bn according to a new worldwide survey by...Data for 2020 show claims tainted with fraud up 10%Aviva UK has uncovered more than 12,000 instances of insurance claims fraud in 2020 worth more than £113m ($160m). Fraudulent policy applications and...Insurers join UK autonomous vehicle projectAviva Insurance and Darwin Innovation Group have announced a five-year strategic partnership, beginning with collaboration on an autonomous vehicle...Nepal gets its second reinsurerHimalayan Reinsurance Company will be the second local reinsurer in Nepal. The company was granted an operating licence for conducting reinsurance...Asian companies still lacking in LGBTQ+ inclusionMany companies in the region are still falling short when it comes to fostering an LGBTQ+-friendly working environment through diversity and...UN secretary-general calls for insurers to invest towards net-zeroIn his closing speech for this year's Insurance Development Forum, UN secretary-general Antonio Guterres called for the insurance industry to utilise...Digital insurance broker expands operationsHong Kong-based Azure Risk, a digital provider of marine and freight forwarding insurance, has been granted licence by the Hong Kong Insurance...Climate change video series from insurerAXA Hong Kong and Macau has released a video series to inspire and encourage customers to support green initiatives in their everyday life.World's first fully-sustainable insurer launchedParhelion, world's first fully sustainable insurer, will focus its underwriting approach on sustainability and environmental, social and governance...When do you think the role of corporate risk manager will become a recognised c-suite position in most corporates in Asia Pacific?APAC consumers receptive to digital engagementHalf of respondents polled in Asia were more likely to buy insurance through online platforms, according to a consumer survey by Swiss Re.Indian non-life industry likely to see moderate growth in FY2022Indian credit rating agency, ICRA, expects the Indian non-life industry to grow moderately in FY2022, supported by growth in the health and motor...India: Private life players report weak individual APE in MayPrivate life insurers reported weak individual APE growth at 5% y-o-y in May 2021, on a low base of 31% y-o-y decline in May 2020.India is second largest InsurTech market in Asia PacificIndia is the second largest insurance technology market in the Asia Pacific accounting for 35% of the $3.66bn of the venture capital coming into the...'Making a difference' recognition awards announcedThe Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has announced the winners of the 'making a difference' recognition awards.Lloyd's focuses on underperformersLloyd's chief of markets is placing under-performing syndicates under the microscope. During a press briefing held last week, Lloyd's chief of...UK: Drivers of electric cars have insurance worriesMore than two thirds of drivers (69%) of electric vehicles are concerned about insurance cover for their electric vehicle should it be damaged when...New cyber risk approaches are neededWith the cyber risk hazard environment - ransomware, business interruption and aggregation - worsening significantly, prospects for the cyber...Which do you think will help grow the SME insurance market the most?Hong Kong: China Re subsidiary sees rating upgradeChina Reinsurance Company (Hong Kong) (China Re HK) has had its financial strength rating upgraded to A (Excellent) from A- (Excellent) by AM Best,...Strategic collaboration to insure e-commerce storesJapanese insurance company Sompo has launched a new insurance product to insure e-commerce stores on platforms such as Yahoo! Shopping, Shopify and...Job effectiveness has suffered from the pandemic and travel restrictionsBusiness travellers around the world believe the COVID-19 pandemic and related travel restrictions have negatively impacted their effectiveness on...LIAJ emphasises importance of sustainability at G20 meetingOn 8 June 2021, Life Insurance Association of Japan (LIAJ) vice chairperson Toyonari Sasaki had a meeting with the Italian minister of economy and...In the next 5-10 years, do you expect more insurance policies in Asia to be 'bought' rather than sold?UK: New car insurance to incentivise greener drivingCovéa Insurance UK and Vitality have launched a new car insurance product that incentivises and rewards safer and greener driving. The new cover will...New life insurance company for Hong KongZurich Insurance (Hong Kong) has announced that the new local subsidiary known as Zurich Life Insurance (Hong Kong) (Zurich Life) has been granted a...Enhanced broker offering for AustraliaAustralian underwriting agency ProRisk has ramped up its broker education webinars for the new financial year, which will focus on building broker...IASB clarifies IFRS17The International Accounting Standards Board (IASB) will propose a narrow scope amendment to IFRS17 Insurance Contracts (IFRS17) to permit a...Chinese insurer tops global banks and insurance brandsPing An Insurance (Group) of China (Ping An) is the top brand among global banks and insurance companies in the 2021 'Top 100 Most Valuable Global...UK: Relationship between customers and general insurers has room for improvementA recent survey has revealed that the relationship between customers and general insurers in the UK still has room for enhancement as the country...South Korea: E-commerce warehouse fire could cost insurers dearSouth Korean insurers are likely to see a claim of KRW360bn ($317.13m) for the fire loss of the Icheon based logistic centre of the ecommerce company...First Japanese insurance company to adopt coal exit policyOn 25 June, MS&AD adopted a policy that it would no longer insure or invest in new coal power plants, becoming the first Japanese insurer to make...Vietnam: Bank and InsurTech forge a relationship for distribution of life insuranceTechcombank, a commercial bank of Vietnam, and InsurTech CoverGo will jointly launch a distribution tool for life insurance products across more than...India: COVID insurance cover to over 41,000 advisers and their familiesIndian insurer Tata AIA Life Insurance has extended its COVID Kavach insurance cover to over 41,000 advisers and their families.When do you expect to see a partial recovery in the demand for travel insurance?Energy transition in power sector creating new risksPower companies are facing challenges arising from energy transition and the move to cleaner fossil fuels, according to Willis Towers Watson's (WTW)...Insurer leverages AI identity tool for cattle insuranceIndian non-life insurer IFFCO-Tokio will leverage AI powered digital tags that are based on muzzle identity to help them with cattle identity issues...Free PA cover to support local tourism and vaccination driveAXA Hong Kong has launched a programme to support local tourism and encourage citizens to get vaccinated.Emerging markets face a $5.4tn shortfall in pensions and retirement fundsWorkers in emerging markets are retiring without sufficient assets to cover their pension needs, creating a total pension shortfall of about $106tn,...Australia: Triennial review of the Terrorism Insurance Act 2003The Australian government has started the 2021 triennial review of the Terrorism Insurance Act 2003.Strong cyber extortion and ransomware guiding principlesThe American Property Casualty Insurance Association (APCIA) has announced its cyber extortion/ransomware guiding principles that will provide...UK customers borrow to fund insurance are feeling the strainMany insurance consumers who borrow money to pay for insurance policies are taking on extra jobs and selling their cars to continue their covers.UK: Operational plant fire claims double in 2020HSB Engineering Insurance (a part of Munich Re) has reported 100% increase in operational plant fire claims in 2020. UK claims data shows...Singaporean parents underestimate retirement planningYoung families in Singapore have deprioritised planning for their retirement because they are spending at least 2.5 times more of their monthly...Nine trends of aviation industry recoveryThe sudden halt imposed on the aviation industry by the COVID-19 crisis hit the sector hard. In April 2020, two-thirds of the global commercial...Is the industry ready for low-cost affordable health insurance plans?Pakistan's focus on universal health insurance to improve accessibilityA report by Fitch Solutions says that the Pakistan government's thrust on universal health insurance will help the country in its healthcare delivery...Weak performance by life insurers despite low basePrivate life insurers in India reported weak individual APE growth at 5% y-o-y in May 2021, on a low base of 31% y-o-y decline in May 2020.Cyber insurance premiums to triple and top $20bn by 2025The global cyber insurance market grew by 34% in 2020 after a slow growth of just 4% in 2019 and gross written premiums (GWP) topped $7bn in 2020...ARPC releases its inaugural insurer customer surveyAustralian Reinsurance Pool Corporation (ARPC) has released the results of the first survey of its insurer customer stakeholders. The results reveal...New insurance products needed to support carbon neutralityThe insurance industry should focus on product innovation for climate transition risk mitigation so as to facilitate the shift in the wider economy...Global (re)insurance industry leaders establish alliance to accelerate transition to net-zero emissionsEight of the world's leading insurers and reinsurers have established the UN-convened Net-Zero Insurance Alliance (NZIA) as founding members,...India: Yaks get insurance cover against accidents and natural disastersYak, a bovine mammalian species native to Himalayas, will now be covered by insurance against accidents, natural catastrophes and some more risks.Barring crowds from Olympics to cost reinsurers about $400mJapan's decision to bar spectators from the Tokyo Olympics is likely to cost the global reinsurance sector $300m to $400m due to pay-outs for ticket...UK: Pandemic impact on employees one year onAlmost three in five employees in UK are neglecting their physical health due to work and half of them don't know how much to save for retirement...Are insurers and the law failing Australians facing extreme weather events?Findings from a new report by Financial Rights Legal Centre (FRLC), Australia reveal that good consumer experiences are far from universal.Insurer partners with tech firm to spin off workplace appAustralia's general insurer major IAG will spin off its bespoke workforce management app, Attune, in a joint venture with Terem Technologies.EASY claims platform a hit during COVID-19MSIG Insurance (Hong Kong) has seen a significant increase in customers using its EASY Claims online platform to submit claims during the COVID-19...Is this the best time to introduce income protection plans across markets in Asia?Asset manager highlights impact of ESG investments for insurersThe world has become a lot more concerned with the environmental impact that companies have, and what they are doing to help reduce not only their...New critical illness protection seriesAXA Hong Kong and Macau?has launched a unique comprehensive critical illness protection series covering illnesses, ranging from the most common ones...London professional indemnity market remains confidentThe confidence is high and appetite strong in the London professional indemnity (PI) market despite a trinity of challenges facing the industry...Modern risk management requires long-term perspectiveScenario planning, agile business strategies, a focus on long-term vision, better and improved risk management and more frequent and impactful...Insurer launches cover for students studying abroadAXA Hong Kong and Macau has launched a protection plan for students studying abroad with home-to-home coverage, even during internship, working...Does more need to be done to rein in rogue insurance agents and managers in Asia Pacific?CAT claims of $42bn estimated for 1H2021Global natural disasters in the first half of 2021 caused total economic of approximately $93bn - 32% lower compared to the 10-year average of $136bn...Japan: Parametric earthquake insurance collaboration with seismograph manufacturerJapanese corporates can now avail parametric earthquake insurance using the compact seismograph, ACCURA certified by the Japan Meteorological Agency.Automation to transform actuarial work over next five yearsLife and property and casualty (P&C) insurers are set to accelerate their use of automation over the next five years as they look to improve the...LIAJ to focus on the challenges of a post-COVID societyThe Life Insurance Association of Japan (LIAJ) chairperson Yukinori Takada released a new policy statement when he took the post on 16 July.Singaporeans prefer embedded insurance offersDriven by convenience, the vast majority of Singaporean digital bank customers (83%) would be highly interested in receiving embedded insurance...Asia Pacific commercial insurance pricing sees slowdown in growthRates for commercial insurance Asia Pacific saw a slight dip in growth in the second quarter of the year, with a 6% growth in Q2, compared to 7.9% in...Insurer launches integrated and cashless digital health solutionIndian private non-life insurer, ICICI Lombard has launched a first-of-its-kind cashless outpatient offering in India in partnership with SVAAS...COVID pushes insurance fraud investigations into digital modeA survey on the impact of the COVID-19 pandemic on insurance fraud risk mitigation and investigation has revealed that India's insurance industry has...European insurers' risk levels remain broadly stableEuropean insurers' exposure to macro risks remains at high levels while all other risk categories remain at medium level according to the European...AILA launches writing contestThe Australian Insurance Law Association (AILA) has launched its prestigious Gill Award for its members who are Australian residents and is offering...A new partnership to speed up claims paymentsA digital insurance claims platform, RightIndem, and Mastercard have forged a new partnership to make insurance claim payments process quicker and...Indian bank customers prefer embedded insurance offersA global comparison survey has revealed that over 90% of bank customers in India want embedded insurance offers based on transaction data.Cyber scammers hard at work amid OlympicsOlympic-related phishing websites designed to steal users' credentials are just part of various online fraud schemes designed to take advantage of...Perception of the importance of work/life balance is undergoing a massive shift globally - is the insurance sector in Asia Pacific getting left behind?Majority of retiring Indians do not have adequate health coverThree out of four Indians retiring over the next 18 months fall short of adequate health insurance coverage and intend to increase the coverage...Japanese life insurer sets net zero target by 2050Meiji Yasuda Life Insurance has announced that it has set new goals for reducing CO2 emissions in order to contribute to the creation of a...India: One third of COVID-19 health insurance claims still pendingIndian insurers are yet to settle about 306,000 COVID health insurance claims totalling up to $1.44bn as of 6 August 2021. These are almost one-third...UK government backs insurance scheme for events industryA government-backed insurance scheme worth over GBP750m ($1.042bn) will help the live events sector in the UK plan with confidence through to next...Global ILS market shatters records in Q2The second quarter of 2021 was record setting for the global ILS market, with approximately $5.6bn of notes issued in 2Q21, the first two quarters...Insurer launches surgical insurance planAXA Hong Kong has launched a surgical insurance plan based on the four levels of the country's Voluntary Health Insurance Scheme (VHIS) schedule of...A new collaboration to support sellers on AmazonGlobal insurance broker Marsh will collaborate with Amazon to support its new digital insurance network, Amazon Insurance Accelerator, where small...UK: Health of loved ones is the biggest stressThe biggest stress for the British is the health of their loved ones, according to a customer survey from MetLife UK. The survey has analysed the...New underwriting engine for MalaysiaPrudential Assurance Malaysia (PAMB) has launched UnderwriteMe's underwriting engine, enabling the insurer to provide faster underwriting decisions...Death claims at LIC rise by 17% in 2020-21Life Insurance Corporation (LIC), the sole Indian life insurer in the public sector saw its death claims surge by over 17% in the financial year...Virtual risk inspections for industrial customersThe industrial insurer HDI Global has created a new solution for digitally-based remote work processes.The ABC of HSBC and AXANewspaper headlines were abuzz this week with the news that HSBC Insurance had pitched to buy AXA Singapore for $575m. But why? We spoke to HSBC...Sompo launches parametric pandemic coverSompo International Holdings, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, will offer a parametric solution...Singapore: Making cyber coverage more accessible to SMEsDelta Insurance Singapore intends to provide easy access to affordable cyber cover for small-and-medium enterprises (SMEs), which are especially...Japanese insurer suffers ransomware attackTokio Marine Holdings announced earlier this week that its Singapore branch had suffered a ransomware attack. The insurer was light on details,...Fall in India's Life Freedom Index in 2021HDFC Life, a private life insurer, has announced the latest findings of its Life Freedom Index (LFI) study conducted along with Nielsen 1Q across 14...Singapore: Making cyber coverage more accessible to SMEsDelta Insurance Singapore intends to provide easy access to affordable cyber cover for small-and-medium enterprises (SMEs), which are especially...Engaging young minds on insurance literacyThe Insurance Institute of India (III) in order to promote insurance awareness and literacy has been collaborating with various stakeholders to...India: Insurer sets a record for mass vaccinationsICICI Lombard, a private non-life player in India has set a new Guinness record, by registering over 30,000 people for vaccinations in just a week.Malaysia's insurance leaders vote for hybrid working environmentAt the 6th Insurance Leadership Forum 2021, a live poll found that the future of work was hybrid, with 88% of respondents selecting that option: 11%...UK: Majority wants government to legislate to stop scamsMore than half of internet users (53%) don't trust that the advertisements on search engines are placed by legitimate financial services companies or...Apps, API and the cloud for insuranceThe COVID-19 pandemic has been a revelation for most businesses and has either caused them to define a new strategy or fail due to their inability to...Hong Kong: Mortality protection gap is estimated to be HK$6.9tnThe mortality protection gap (MPG) in Hong Kong is estimated to be HK$6.9tn ($886bn) in 2019, translating into HK$1.9m or 5.7 times the weighted...Askrindo Indonesia to transform its reconciliation operationsAskrindo Indonesia has implemented Smart Recon solution to modernise and maximise its growing operations that include manual spreadsheet-based...China losses from plum rain and typhoon In-faA report by JBA Risk highlights the massive economic losses in China from floods following heavy rainfall in June and July and the impact of typhoon...Singapore: HSBC deal with AXA shows there is still life in the local marketHSBC Insurance (Asia-Pacific) Holdings' (HSBC Insurance) recent agreement to acquire AXA Insurance (AXA Singapore) demonstrates the continued growth...Mixed picture emerging from UK brokersIn UK 43% of insurance brokers expect to see their business grow in second half of 2021 and less than 28% anticipate a decline in their business. The...Skills essential for new entrants to insuranceInsurance professionals believe personal skills are the most important competency requirement for fresh entrants to the profession to possess.China: New state-backed entity means a change of strategy for reinsurers in world's largest agri marketThe reinsurance buying behaviour of Chinese agriculture cedants is expected to change for the next January renewals due to the recent formation of...COVID transforms Indian health and wellnessA survey conducted by private non-life player ICICI Lombard has revealed that over the past 18 months, work stress has affected the mental health and...Cyclone season 2020 costliest with damages amounting to $16bnThe 2020 North Indian Ocean (NIO) tropical cyclone season was the costliest in recorded history with damages amounting in excess of $16bn according...Lloyd's: Meeting new geopolitical challengesA new report by Lloyd's explores the transformation of the geopolitical risk landscape over the last decade and focuses on the 10 most pressing risks...China: Mainland, Hong Kong and Macau fintech collaborationThe Insurance Authority of Hong Kong (IA), China Banking and Insurance Regulatory Commission (CBIRC) and the Monetary Authority of Macao (AMCM) will...Korea: Tech companies looking to join industry's digital revolutionMore Korean tech companies are expected to enter the country's insurance market as online distribution becomes more widespread due to the pandemic as...InsurTech spreads its footprint across Southeast AsiaAn Asian health InsurTech has announced collaboration with several insurers across countries from Asia, Europe and Latin America. It has also spread...Should self-driving cars behave more or less like people?Recent studies have shown that people have negative attitudes to using autonomous systems because they don't trust them. Moreover, research shows a...Insurer deepens emissions cuts and promotes green optionsZurich Insurance is initiating global measures to accelerate cuts in carbon emissions from its operations. It is also expanding its products and...Nuclear pools + B3i = DLT-based risk-transfer solutionThe Blockchain Insurance Industry Initiative (B3i) will develop distributed ledger technologies (DLT)-based solutions for the management of...InsurTech launches weather-index programme for small farmersLondon-based InsurTech, Blue Marble, has launched a pilot weather-index based insurance programme for small holder farmers in rural Pakistan.New ESG initiative by Japanese insurers in collaboration with Asian Development BankThe insurance sector has important roles to play in environmental conservation as well as the carbon-free society. A new ESG initiative by Japanese...(Re)insurance industry continues to demonstrate resilience in challenging marketThe convergence of tangible and intangible challenges facing the (re)insurance industry is creating one of the most dynamic and potentially volatile...India: Validity of COVID-19 specific health insurance policies extendedInsurance Regulatory and Development Authority of India (IRDAI) has extended the validity of the two COVID-19 specific health insurance policies...UK: Younger owners are helping small businesses bounce backYounger business owners have been able to respond particularly strongly to the challenges posed by the pandemic while the oldest decision makers...Prices in property and casualty reinsurance to riseReinsurance major Hannover Re anticipates a continuing trend towards higher prices and improved conditions in property and casualty reinsurance for...New Futurance programme launched to identify start-upsHDFC Life and IvyCamp have launched the fourth phase of Futurance, an on-going corporate engagement programme that identifies start-ups developing...How insurance professionals entered the industryHow insurance professionals and financial planners kicked off their careers in the industry has been revealed by a poll of Chartered Insurance...Confidence recovering fast in MGA marketConfidence is recovering fast in the MGA market despite the pandemic according to a recent survey by law firm Clyde & Co. The survey was conducted in...Risk: Diversity is not a box-checking exerciseIn simple activities, cognitive diversity is not helpful, said consultant and The Times journalist Matthew Syed in a recent podcast.InsurTech launches services for needy farmersInsurTech Wingsure has entered into an agreement with the government of the south Indian state of Telangana to provide deep-tech-based personalised...UNDP launches new insurance and risk finance facilityThe United Nations Development Programme (UNDP) has launched a new initiative - the Insurance and Risk Finance Facility (IRFF).Digital disruption & the Virtual InsurTech boomDigital disruption has been pervasive across the global insurance sector for the last decade. With various use cases ranging from blockchain and...Singapore's 'sandwich generation' most impacted by COVID-19Singaporeans aged 35 to 54 - also referred to as the 'sandwich generation' - appear to be hit the hardest from the financial and health toll of the...Amazon and Superscript insurance for UK small businessesUK InsurTech Superscript and Amazon Business will provide tailored insurance for micro and small businesses as well as sole-traders through Business...Hybrid working and future claimsAs work-from-home (WFH) and hybrid working becomes more common, how will organisations look at the career progression of employees?Insurer initiates conversations on healthy heartA survey undertaken by private non-life insurer ICICI Lombard to assess the awareness and understanding of cardiovascular diseases in the...Detailed industry loss footprint for Australian floods releasedPERILS has released its industry loss footprint for the New South Wales and Queensland floods of March 2021.Risk management is important for corporate resilienceRisk and insurance managers are important for an organisation's resilience according to a new report published by Federation of European Risk...Climate change and cyber top global concernsDespite the ongoing health crisis, climate change and cyber risks have come back to occupy the first two slots in the rankings of future risks...InsurTech solution for insurers goes liveAuthority Hub, a digital solution improving insurers' governance, visibility and control of authority agreements, has now gone live. The platform has...New wave of tech-based travel insurance productsSince the pandemic stopped almost all travel in 2020, travel insurance has been struggling to maintain relevance. However, travel corridors have been...India: Rural InsurTech raises $7m in Series A fundingIndia's rural InsurTech GramCover has raised $7m in Series A fundraise from Siana Capital and Inflexor Ventures.US: Risk management assumes greater importance for middle market companiesNew data from Chubb Insurance and the National Center for the Middle Market (NCMM) show that middle market companies are finding risk management...What steps can be taken to minimise the impact of climate change on natural catastrophes?India: Insurer to settle health claim of chain smoker who contracted lung cancerA consumer court in India has asked an insurance company to settle the health insurance claim of a patient addicted to smoking and afflicted with...Employees get a day off for mental rejuvenationPrivate non-life player Future Generali (FGII) in order to create awareness on mental health and wellbeing, has announced a day off for its employees...US: Cyber ranks as the top business concernOver 59% of 1200 US business leaders say they worry some or a great deal about cyber threats as compared to medical cost inflation (53%) and...New Zealand: Insurer collaborates with AI solution provider to automate and accelerate claims processTower Insurance and FRISS will collaborate to expand automation to detect genuine and suspicious claims in real time and allow for a faster process...Pandemic causes steep rise in depression and anxietyCases of depression and anxiety surged by more than a quarter globally during the pandemic, especially among women and young adults according to...Brokers more stressed than everBrokers are under more pressure than ever according to Ecclesiastical Insurance's latest Broker Wellbeing Survey.When do you expect to see a partial recovery in the demand for travel insurance?Bancassurance remains strong in Asia PacificA report by Insuramore global rankings said that the Asia-Pacific region is experiencing rapid growth in premiums and is today home to some of the...Strong growth for India's life sector in SeptemberIndia's life insurance sector witnessed strong growth in September with a 22% y-o-y growth over the same period last year.Hannover Re announces new sustainability targetsHannover Re is committing to achieve net zero emissions in business operations by 2030 and in its reinsurance portfolio and investments by 2050. In...Greetings in commemoration of East Asian Insurance DayTo commemorate the fifteenth annual "East Asian Insurance Day" (October 18), which was established by the East Asian Insurance Congress (EAIC), I...In commemoration of EAIC DayAllow me to express my deep gratitude for the invitation to deliver a short message of goodwill in keeping the spirit of EAIC and its motivational...Commemorating EAIC DayOn the joyous occasion of the East Asian Insurance Day, which was initiated in 2006, I would like to convey my heartfelt greetings to the East Asian...Global study on life insurance consumersThe 2021-22 edition of ReMark's global consumer study on life insurance consumers, ReConnect Life, looks at the issues the life insurance consumers...Happy East Asian Insurance Day!Today, October 18, marks "East Asian Insurance Day," which coincides with the historic first East Asian Insurance Congress held in Tokyo on October...Fifth year in a row Nat CAT losses exceed expectationsInsured losses from natural catastrophes are expected to be at or above the budget expectations of global reinsurers in 2021 as well, the fifth year...Lloyd's first ESG syndicate launchedSpecialist insurer Beazley has received in principle approval from Lloyd's to establish the first ESG Syndicate 4321 from 1 January 2022.US: Employer medical costs projected to increase by 5% in 2022Costs for large US employers that pay for their employees' medical care will increase on average 5% to more than $13,000 per employee in 2022...With ransomware events and loss figures on the rise, what should the insurance community's response be?Collaboration can bridge the insurance protection gapSpeakers at the Annual Insurance Summit organised by the National Insurance Academy recently emphasised the need for collaboration between different...Wildfire risk score launched for EuropeGlobal risk and reinsurance specialist Guy Carpenter has launched a wildfire risk score (WRS) designed to help clients manage their exposure to the...Insurer investing in employee wellbeingRecognising the need to invest in caring for employees' mental wellbeing, MSIG Asia has been ramping up online activities to engage its employees...Can insurers handle systemic cyber risk?The industry must continue its efforts to address cyber risk better said AIG president and CEO Peter Zaffino, during an Aon fireside chat.Message from the EAIC general secretary for EAIC DayI would like to deliver a message on the occasion of the East Asian Insurance Day for 2021.Sun Cable team to deliver the Australia-Asia PowerLink ProjectOne of the world's largest renewable energy infrastructure projects, the A$30bn ($22.4bn) Australia-Asia PowerLink (AAPowerLink), which will supply...ARPC announces year-end results in annual reportAustralian Reinsurance Pool Corporation has announced excellent performance operationally and financially during 2020-21, according to its annual...Equality, diversity and inclusion policies improve workplace cultureThe main aim of insurers' diversity and inclusion programmes is to improve workplace culture according to a new survey conducted by the Chartered...Do you think cyber insurance for individuals, to cover fraud, identity theft, phishing attempts or similar incidents, will become a mainstream product soon?Global risk experts lean in to drive inclusive insuranceThe International Conference on Inclusive Insurance (ICII) held this week highlighted that while economies in the northern hemisphere slowly begin to...Australian insurance industry awards winners announcedThe Australian and New Zealand Institute of Insurance and Finance (ANZIIF) announced the winners of the 17th Australian Insurance Industry Awards on...South Asian digital P&C personal lines market poised for growthA Swiss Re Institute research projects the digital property and casualty (P&C) personal lines market could reach a cumulative $7.5b in premiums over...Insurance will evolve to support gig-workersIn order to support the accelerating changes in the global sharing economy and mobility sector, new forms of insurance, including programmes to...Top 10 risks - pandemic shines spotlight on interconnected risksCyber attacks and data breaches rank first on the list of the top 10 risks in Aon's 2021 Global Risk Management Survey. Looking across the survey,...Global initiative to study impact of climate change on terror and extremismA new global partnership will focus on the impact of climate change on extremism and terrorism. The partnership will bring together the National...AXA extends oil and gas exclusions to support the energy transitionIn the run-up to COP26, AXA has extended its commitment to fight climate change and protect biodiversity. AXA announced several new milestones in its...Do you think the insurance industry does enough to support the climate change agenda?Adoption of ESG standards by US insurers is growingSix in 10 US insurance companies agree that demand from stakeholders to consider environmental, social and governance (ESG) factors in their...Hongkongers have trouble saving up to emigrateOver 40% of Hongkongers have plans to emigrate, estimating that they require up to HK$4.9m ($630,000), according to a survey by digital life insurer...Insurer launches go green energy saving campaignAXA Hong Kong and Macau has launched an energy saving campaign to encourage customers to go green by saving energy and reducing carbon emissions in...Framework for climate-vulnerable countries to fund NatCAT responseThe Insurance Task Force (ITF) has launched its Disaster Resilience Framework for climate-vulnerable countries. The new framework is aimed at...Free accidental insurance with helmet purchaseIn order to promote safe riding skills and road safety, Indian private non-life insurer ICICI Lombard has tied up with Vega helmets to offer a...Insurer adopts InsurTechs no-code technologyMSIG Hong Kong has adopted InsurTech CoverGo's unique no-code technology to build and launch MediGo, a new end-to-end system, designed to manage all...AXA XL launches new Coastal Risk IndexAXA XL has launched Coastal Risk Index (CRI), a tool that maps current and future flood hazard resulting from climate change and integrates the...AIA launches fund to support disadvantaged in SingaporeAIA Singapore has launched the AIA Better Lives Fund, an initiative that aims to raise funds to support disadvantaged children, youths and their...Climate change leads to heavier rainfall, increased flood riskThere are uncertainties in climate models and its data output, but there is mounting evidence that points to more frequent or intense heavy rainfall...Do you believe ESG principles will have a positive impact on your organisation's profitability?From protection to preventionA new report, Insurance 2030: As Risks Mount, Insurers Aim to Augment Protection with Prevention by Bain & Company predicts that global insurance...AXIS introduces supplier diversity policyAXIS Capital has launched a supplier diversity policy (SDP) by engaging certified diverse business enterprises (DBEs) in its procurement process.Mental health has an important influence on whole healthHong Kong still has one of the higher stress levels across the markets surveyed, with unmanageable stress level raised to 18% in April 2021 (from 14%...Guest opinion: Greening auto insuranceClimate change is an irrefutable reality. Its effects are in plain view and there will be further adverse consequences if left unchecked. A recent...Employers boost mental health and telemedicine amid pandemicAnnual family premiums for employer-sponsored health insurance rose 4% to average $22,221 in 2021 according to the 2021 benchmark KFF Employer Health...Global marine insurance market 2021International Union of Marine Insurance (IUMI) has released its analysis of the global marine insurance market in 2021.Which of the following do you employ in order to increase talent retention in your organization?UK: Greater government involvement for protection from online financial fraudAviva Insurance UK has called for more legislative protection for consumers from online financial fraud. It has urged the government to include...Online disaster recovery hub launchedA new online 'Disaster Recovery Hub' comprised of more than 100 major disaster case studies and covering different events in different locations has...Guidance on safely using social mediaThe Chartered Insurance Institute (CII) has said members whose social media accounts are linked to their professional organisation should ensure...Insurers more invested in sustainabilityOver half of insurers identified geo-political risk as the most serious macro risk to their investment strategy, said Blackrock. This reflects the...Supercharging the reinsurance ecosystem in AsiaThe impact of COVID, emerging digital business models and huge volumes of data are shaking up the traditional reinsurance ecosystem across Asia. How...Hong Kong: Survey reveals 96% of homeowners hold misconceptions about fire insuranceA survey by InsurTech OneDegree Hong Kong has revealed that the majority (96%) of Hong Kong homeowners do not fully understand their fire insurance...Indian life insurers feel multiple tailwindsIndian life insurers have reported strong value of new business (VNB) growth in the second quarter of 2022, on the back of high annual premium...New flood hazard data solution for Japan launchedICEYE, a provider of flood hazard data has collaborated with Aon, to provide insurers with flood hazard data following severe flooding events in...What is your prediction for your organisation's IT budget for 2022Indian general insurer supports critical illness treatment of underprivilegedIn its endeavour to give back to society, ICICI Lombard General Insurance will offer support for the treatment of underprivileged individuals...New travel insurance for multiple marketsKlook, the travel and leisure booking platform and ZA Tech Global, the technology venture backed by Softbank's Vision Fund 1, in a joint venture will...UK: The risks business facesThe economy, worker shortages, Brexit, COVID-19 and reputational damage are the biggest risks to UK businesses according to Aviva Insurance's second...US: Cyber insurers require strict security steps along with higher premiumsUS insurers are continuing to take a hard line on underwriting and pricing cyber coverage according to The Council of Insurance Agents & Brokers'...FALIA celebrates 50th anniversaryThe Foundation for the Advancement of Life & Insurance Around the world (FALIA), which conducts training programmes, essay competition, and other...Sri Lanka: Budget proposals to impact near-term earnings of insurersThe Sri Lankan government's proposal to introduce new one-off as well as recurring taxes on companies could constrain the near-term profitability of...Singapore's 'sandwich generation' shuns protectionA survey new survey says Singapore's millennials are the new 'sandwich generation', who need financial solutions to accommodate their modern...New research on the evolving meaning of terrorismAustralian Reinsurance Pool Corporation (ARPC) and University of Queensland (UQ) Business School will jointly conduct new research on the evolving...Sustainability, diversification and technology dominate insurers' investment prioritiesAn overwhelming majority (95%) of senior insurance executives believe that climate risk will have a significant impact on portfolio construction and...Nepal: Insurance regulator mandates 100% cession to the two domestic reinsurersThe Insurance Board, Nepal's insurance regulator, in a recent circular has mandated all life and non-life insurance companies to seek 100%...APAC leads the captives race in 2020The COVID-19 pandemic has put risk management into the centre stage and given recognition to self-insurance said speakers at the virtual Asian...Construction companies face new age risks post-COVIDA new report from Allianz Global Corporate & Specialty (AGCS) says that the global construction market is set for a sustained period of strong growth...Cyber insurance flips from hard-to-sell to hard-to-buyCyber insurance has changed from a product that was once hard to sell to one that's hard to buy according to Emergence Insurance.A digital ecosystem is essential to the future of reinsuranceThe reinsurance industry is on the cusp of huge technological change, with common data standards and open data platforms set to deliver faster, more...Last mile delivery insurance programme launchedAon and InsurTech CarrierHQ have together launched a usage based last mile delivery commercial insurance programme in the US.Interview with Than Hien AnhIn this video, we speak with Than Hien Anh, Chairperson of BaoViet Life about the trends and development of new life products in Vietnam, making...Digitalising and automating life underwritingTokio Marine Life Insurance Malaysia (TMLM) has selected a product developed by Munich Re Automation Solutions, the InsurTech arm of Munich Re Group,...Australian aviation industry specialist up for grabsGlobal advisory and broking and solutions company Willis Towers Watson (WTW) has acquired Australia-based aviation industry specialist Aerosure.Leak of personal employee info is least-disclosed type of breachEmployee data leakage is one cyber incident that organisations prefer not to disclose according to a new report by cyber security firm Kaspersky.Italy: Coffee breaks away from office not covered by corporate insuranceThe Supreme Court of Italy has ruled that workers who suffer an accident when temporarily stepping out of the office for a coffee break are not...Health insurance for budding entrepreneursIndian InsurTech Loop Health will help the next generation of young entrepreneurs at various stages of their start-up incubation by taking care of...Insurance underwriting mechanisms can support net zero goalsA new paper from insurance leaders' group ClimateWise maps out challenges and improvements to new independent underwriting tools to support the...Muzzle identity - The future of cattle insuranceIndia, with a bovine population of 303.7m, is the largest milk producer in the world today. The Indian government's national digital livestock...Cyber risk predicted to increase in 2022Whilst many organisations are aware of the short-term technical and operational impacts of cyber incidents, they are often unprepared for the longer...Mature markets represent majority of future insurance growth and value potentialA new study has revealed that mature markets represent the majority of not only historical value, but also future growth and value potential with...New Year's message from LIAJ chairpersonAs the year 2022 starts in earnest, I wish everyone a very happy New Year.Chartered Insurance Institute plans for 2022The Chartered Insurance Institute (CII) has called upon the insurance community to address the unmet needs of society and show the true value of...Electric autonomous vehicles present distinct liability issuesElectric autonomous vehicles will certainly help businesses reduce their carbon footprint, however, the evolving technology could also bring up...Challenges and opportunities for 2022The Society of Insurance Broking of Chartered Insurance Institute (CII) has detailed the challenges and opportunities facing the profession in the...Insurer launches glow green initiativeIndian private life insurer, PNB MetLife has launched a 'Glow Green' initiative through which it will plant 40,000 saplings over the next three years...Digital transformation trends for insurers in 2022InsurTech Novidea has revealed trends that will drive digital transformation in the insurance market in 2022, which includes trackable hybrid...Claims professionals say talent is vital to raise trustThe Society of Claims Professionals of Chartered Insurance Institute has outlined its plans to assist its members both individually and collectively...UK parliament launches inquiry into regulation of London insurance marketThe Industry and Regulators Committee of the House of Lords has launched an inquiry into the regulation of the London market - the UK's commercial...Instant online asset valuation service for insurance launchedJohn Foord, the insurance-focused global asset valuation specialist, has launched a cloud-based platform providing insurers and reinsurers, in...Sri Lankan insurance industry maintains growth trajectoryThe insurance industry in Sri Lanka was able to achieve a growth of 6.19% in terms of overall gross written premium (GWP), during Q3,2021, recording...Insurer survey reveals the biggest retirement planning concernAIA Singapore has unveiled the report from a study it conducted on retirement planning among Singaporeans.Which do you think will have the higher amount of total economic losses in 2022?High premium and poor awareness main reasons for low penetration of health insuranceHigh premium and poor awareness could be the two main reasons for the low penetration of insurance in India where a majority of people are either...Pandemic had profound impact on underwritingGlobal challenges, such as technological advances, climate change and COVID-19, have had a profound impact on the way insurance underwriters write...Insurer launches initiative for flood victimsMSIG Malaysia has launched an initiative to raise funds to provide relief to victims of the floods that affected parts of the country in December...Insurer commits funds for dementia care in SingaporeThe Chubb Charitable Foundation has committed a US $10,000 grant to Dementia Singapore - a social service agency specialising in dementia care,...Swiss Re teams up with financier to invest in renewable energy projectsSwiss Re Corporate Solutions has partnered with NORD/LB, one of the leading renewable energy financiers, on a US $500m ESG co-investment programme to...Pandemic accelerated pace of fraud attacks in 2021With the pandemic at full throttle, markets in APAC saw an increase in use of digital transactions and payments, which increased the risk of fraud...Into which of the following markets do you expect your business to enter the next 12-24 months?Insurer launches unique policy cancellation and refund campaignChubb has launched a no-questions-asked policy cancellation and refund campaign in Singapore for all Chubb-underwritten individual single-trip travel...Slowdown impacts Indian life insuranceThe individual APE growth for private life players in India slowed down to 6.9% y-o-y in January 2022 from about 30% y-o-y during the past two months.$116bn bill for insured natural catastrophe losses in 2021The Summary of Natural Catastrophe Events 2021, published by Gallagher Re, says that insured losses from major natural catastrophes in 2021 -...GFIA calls for clarifications regarding South Korean data protection rulesThe Global Federation of Insurance Associations (GFIA) has asked for clarifications from the South Korean authorities regarding their latest data...Satellite tech for claims and disaster detectionFinnish microsatellite manufacturer ICEYE believes the insurance industry needs faster access to more accurate, actionable truth data for flood...Rising stars challenge insurance leaders to innovateInsurers have been urged by the rising stars of the profession to innovate now or risk becoming irrelevant to the public.Global executives 'not confident' in their company's reputational and ESG approachThere is a considerable lack of confidence on the part of global executives in their own organisations' approach to reputational and ESG 'risk...This year will be even more challenging for P&I clubsP&I clubs across the world have announced general rate increases ahead of the February renewals for ship-owners, said AM Best. This is the third...Manulife Hong Kong posts strong fourth quarter and FY 2021 resultsManulife Hong Kong reported strong growth in core earnings, new business value (NBV), annualised premium equivalent (APE) sales and agency numbers....Insurer introduces video calling facility for health insurance purchaseICICI Lombard, a private non-life player in India, has introduced an industry first video calling facility for all its customers purchasing health...Insurer extends cover for vaccination complicationsFWD Insurance has extended the coverage period of its free special benefit against vaccination complications to 30 June 2022.Growing retail insurance services in Southeast AsiaConsumer finance provider Home Credit and MSIG announced a strategic partnership to expand insurance offering and support financial inclusion in...Bumps in the road for global economic recoveryTwo years after the pandemic hit the world, the global economy continues to recover, although significant challenges still lie ahead, said Coface, in...Uncertain financial markets pose impending challengesIn its presentation of its end-of-year financial report, Great Eastern group CEO Khor Hock Seng said that the company faced more headwinds in the...Insurer launches health and wellness campaignAs part of a promotional drive for the company, AIA is starting a movement to improve the health and wellness of individuals and help create a more...Insurer enhances healthcare offering in Asia PacificSpecialist insurer Beazley has enhanced its healthcare offering in Asia Pacific with the launch of its miscellaneous medical liability product.Global reinsurers to bear the cost of Australia floodsParts of Australia's east coast suffered from severe flooding in recent weeks with the damage looking to become a A$1bn ($728m) event that will be...Findings of CII's consultation releasedThe Chartered Insurance Institute (CII) of the UK has shared the findings from its Shaping the Future Together consultation, which encouraged members...Indian government may take up insurers' surety bond concernsThe government of India is likely to address the concerns of the insurance industry and align surety bond issuers' rights in line with other...Research reveals flood challenge for British businessesThe 2022 Commercial Risk Report by FloodFlash, the parametric insurance technology company, has revealed that 26.6% of UK commercial properties have...Insurer supports primary eye care facilities in rural IndiaSBI General, a private non-life player in India, will provide access to primary eye care facilities to rural communities across India as part of its...Challenges exist in quantifying cyber risksA study by ORX, an association of operational risk professionals, has revealed that cyber is one of the top risks facing the financial services...Hong Kong insurers consider downsizing due to staffing issuesNearly 30% of Hong Kong's international insurers are contemplating downsizing their operations due to a shortage of talent, according to a recent...Organisations take too long to patch cyber risk vulnerabilitiesOrganisations take nearly two months to patch critical risk vulnerabilities in their IT systems, said a recent report by cyber security firm...InsurTech and reinsurer offer digital health engagement platformGlobal reinsurer Swiss Re and healthcare InsurTech dacadoo have partnered to offer a digital health engagement solution to insurers of all sizes.Bangladesh launches health insurance for the disabledFor the first time in Bangladesh, people with disabilities have been brought under health insurance cover so that they can get treatment at a low...Cover for devices linked to emerging technologiesNew research by the International Underwriting Association of London (IUA) has revealed that the London market companies are developing new products...Top trends for digital acceleration in insuranceAccording to tech consultant Endava's insurance trends report, there are two developments which stand out for digital adoption. The first is how...Mainland Chinese visitors turn to Macau to buy policiesLife insurers such as Manulife and AIA have seen an increase in mainland Chinese visitors (MCV) buying policies in Macau over the past year. After...Insurance offers financial independence for womenA survey by Indian non-life player SBI General reveals that being financially independent ranked among the top three priorities for Indian women.Asia suffered $72bn in Nat CAT losses in 2021In Asia, after three consecutive years (2018-2020) of economic losses topping $100bn, the Nat CAT toll dipped to $72bn in 2021. Of the 2021 losses,...Advanced technology can aid quicker claims settlementThe Indian insurance industry needs to adapt technology to solve the long-standing claims settlement issues that have impacted the insurance sector...Insurers and brokers among world's most ethical companiesTwo property and casualty insurers and two insurance brokers are among the 136 companies recognised for their unwavering commitment to business...Sanctions on Russia will derail insurance industry's growthRussia's general insurance industry is expected to decline by 14% in 2022 due to the Russia-Ukraine crisis according to GlobalData's global insurance...Making the case for open insurance and better ecosystemsThe banking sector has seen an emergence of open finance where third-party financial service providers can access customer's data using API...Euler Hermes changes name to Allianz TradeTrade credit insurer Euler Hermes has changed its brand name to Allianz Trade, in what it called a 'natural move' following its acquisition by...Insurer to support underprivileged kidsManulife Hong Kong has launched a programme designed to help underprivileged children equip themselves with future-ready skills, improve financial...Educating millennials and gen-z on life insuranceIndian private life insurer HDFC Life has launched a digital education and awareness initiative on the nuances of term life insurance for millennials...Mercedes to accept liability for automated driving accidentsMercedes-Benz will be legally responsible for the liabilities arising from road-crashes while its level-3 automated driving system is active....Natural disasters during 2015-2020 cost Bangladesh dearBangladesh lost $21bn due to 11 natural disasters between 2015-2020 according to the Bangladesh Bureau of Statistics (BBS).Indian millennials need guidance with life insuranceA new survey in India has revealed that amid the encouraging habits towards financial prudence, Indian millennials are yet to become fully aware of...Australia: Disaster resilience needs bigger budgetCommenting on the Australian federal budget presented in March, the Actuaries Institute says that this is a case of missed opportunities to not...IAIS annual general meeting to take place in TokyoThe International Association of Insurance Supervisors (IAIS) will be holding its annual general meeting and annual conference in Tokyo in November...Singapore SMEs' changing appetites for insuranceSMEs in Singapore have been switching insurers over the past year according to QBE. Forty-four per cent of businesses polled in QBE's SME survey...India's optimised risk handlingThe second edition of ICICI Lombard's Corporate India Risk Index (CIRI) has revealed a 9% jump in the risk score from that of 2020.Evolving digital distribution channelsA new survey by AM Best has revealed that more than half of the respondents consider digitisation and technological investments to be the biggest...Nepal: CSR spending by insurers made mandatoryInsurance companies in Nepal will have to spend at least 1% of their net profit for corporate social responsibility (CSR) activities annually.Blockchain for legally-binding reinsurance contractsThe blockchain insurance industry consortium B3i has placed the world's first legally-binding reinsurance contract on distributed ledger technology...Australia: Reinsurers expected to review contracts amid floodsReinsurers are expected to bear the brunt of the flood season in Australia. The country had declared a national emergency to deal with the floods and...Reinsurer backed digital asset insurance product launchedAsia's first digital insurance product backed by a global reinsurer was launched in Hong Kong this weekUK: More than a third of 18 to 24-year-olds plan to spend more on insuranceA new study in the UK has revealed that more than one in three (35%) 18 to 24-year-olds plan to spend more on insurance as compared to just 11% of 45...Mental health and wellbeing are top concerns for urban IndiansThe Max Life India Protection Quotient 4.0 (IPQ 4.0) survey conducted by private life player Max Life in partnership with consultancy firm Kantar has...Reinsurance is a 'hidden gem' in recruitmentHow can global reinsurers collectively go about lifting the profile of the industry with millennials and gen Z when it comes to recruiting the best...World's first Build Back Better scheme launchedFlood Re, the joint initiative between the UK insurance industry and the UK government to promote the availability and affordability of flood...Insurance for legal cannabis operators, crypto and digital asset risks in APACFinancial lines Lloyd's coverholder Frontier Global Underwriting and insurer Relm have partnered to offer D&O and professional liability cover for...Hong Kong: Significant time and resources needed for ESG integrationInsurers face several challenges when it comes to investing in ESG and integrating the same principles into corporate structures. These include how...Cyber extortion and ransomware top risksCyber attacks and data loss are the top risks facing D&O, with cyber extortion and the growth of ransomware attacks a leading concern, according to a...Asian SME businesses seek growth and greater resilience in 2022A survey of SME businesses in South and Southeast Asia has highlighted a gap in their current protection levels and the risks they currently face.Net Zero is a big opportunity for insurance marketsA new analysis has revealed that the global insurance opportunity created by the transition to Net Zero could be in the region of $125bn.India's first pay as you drive plan launchedPrivate non-life insurer HDFC ERGO has launched the country's first 'pay as you drive' programme, insurance that offers distance-based insurance...Global InsurTech funding remains strongA report by global reinsurance broker Gallagher Re revealed that investment in the InsurTech sector in 2021 saw the highest capital inflow ever...Insurance marketplace faces the AI testResearch done by consultancy Insuramore revealed that revenues earned worldwide from insurance marketplace activity had a value of over $6.7bn in...UK: 59% of SMEs rely on credit to buy insuranceNearly six out of 10 SMEs in the UK (59%) rely on credit to pay for their insurance, borrowing on an average $1,370, according to new research by...US: Majority of homeowners are underinsuredThe majority of US homeowners that have homeowner insurance policies have not taken steps to ensure that their insurance coverage is keeping pace...Positive safety trend in international shipping continued in 2021The international shipping industry continued its long-term positive safety trend in 2021 but Russia president Vladimir Putin's invasion of Ukraine,...Insurance platform raises $15m for expansionNo-code SAAS insurance platform CoverGo has raised $15m funding for global expansion and adoption of its no-code insurance platform.Healthcare insurance specialist expands into aged careAustralian specialist healthcare underwriting agency Tego Insurance will now also offer a combined liability package for the aged care sector.New validation service for trustworthy AIMunich Re is enhancing the acceptance of AI with its new CertAI validation service, thus paving the way for the responsible use of AI applications.AILA goes for a rebrandThe Australian Insurance Law Association (AILA) has undertaken a rebranding exercise to announce that it is an association for everyone involved in...Survey reveals Singaporeans' biggest concernsA survey by AIA Singapore has revealed that two-thirds (66%) of Singapore's local workforce are worried about job loss due to illness or disabilities...Addressing emerging risk challengesA recent survey by RIMS has revealed that integrating emerging risk considerations into an ongoing risk management programme is necessary to avoid...Health dominates Indian non-life segmentA report by Kotak Institutional Equities said that health insurance premium in India exceeded motor premiums for the first time in FY2022 with 33.3%...Rapid increase in severe cyber security incidentsResearch based on the analysis of incidents reported to customers of Kaspersky Managed Detection and Response (MDR) has revealed that the share of...Munich Re invests in afforestation project for carbon removalIn its effort to contribute towards achieving its net-zero targets, Munich Re has partnered with TreeTrust for afforestation projects for carbon...Inflation drives surge in auto telematics adoptionConsumers in the US are now looking for better value and service, in addition to lower rates as they shop for insurance according to TransUnion's...IRDAI eases approval norms for insurance productsIn a bid to improve ease of doing business, the Indian regulator Insurance Regulatory and Development Authority of India (IRDAI) has allowed insurers...Australia: Cost of 2022 floods continues to riseThe cost of the record-breaking flood that hit south-east Queensland and northern New South Wales earlier this year continues to rise and is now...Australia: Businesses should prepare better for unknown risksMany Australian businesses have yet to recover from the economic shocks of the pandemic, highlighting a general need to improve organisations' risk...Putin's invasion of Ukraine will impact cyber ratesHowden's latest annual cyber report reveals that Russia president Vladimir Putin's invasion of Ukraine and cyber resilience have combined to temper...More deaths in Australia than expected in first months of 2022There were 4,000 more deaths than expected in Australia during the first two months of 2022, according to the latest modelling data from the...Spike in demand for travel insuranceA report by InsurTech Go Digit has revealed that there has been a spike in demand for travel policies in India in FY21-22 compared to pre-COVID...Insurer's leadership team creates NFT collectionFWD Insurance has announced its new initiative into the metaverse by co-creating its first non-fungible tokens (NFT) collection. The NFT collection...Bridging the claims gap between customer and insurer through automationWith Sedgwick handling over nine million claims a year for their insurance and corporate clients they are ideally placed to maximise the automation...Australia: Increasing claims pose major challenge for insurersPERILS, a Zurich-based organisation providing industry-wide catastrophe insurance data, disclosed its second industry loss estimate for the Eastern...COVID-19 claims surge once againMany general insurers and standalone health insurers are experiencing an increase in the COVID-19 related health insurance claims filed.Japanese government not responsible for damage caused by Fukushima nuclear disasterThe Japanese government is not liable for damages claimed by people affected by the 2011 Fukushima nuclear disaster according to a ruling by Japan's...India: GST reduction on life and health insurance will have to wait longerA committee of Indian revenue officials attached to goods and services tax (GST) Council has turned down proposal to lower tax rate on premium...Vulnerability a driver of emerging-world climate policy commitmentsCommitment to climate policy in the emerging world is strongest in countries most vulnerable to the impacts of global warming and in those with...Asia businesses struggle to offset losses from increased B2B bad debtA survey by global credit insurance, surety and collection services provider Atradius has revealed a 60% increase in business-to-business (B2B)...Personal touch critical for smoothening out complex claimsNew research by Allianz has revealed that insurance brokers spend an inordinate amount of time on simple/non-complex claims.Climate change is greatest health threatThere is an 'inextricable link' between the environment and public health, with climate change singled out as the greatest global threat according to...India 'pay as you drive' and 'pay how you drive' insuranceInsurance Regulatory and Development Authority of India (IRDAI) has now permitted general insurance companies to launch telematics-based motor...ILO backed employment injury cover for garment workersThe International Labour Organization (ILO)-developed Employment Injury Scheme (EIS) will now be available to garment workers in Bangladesh.Insurer partners with mental health tech companyMSIG Hong Kong will partner with mental health tech company Intellect to provide accessible, end- to-end employee wellbeing support to the insurer's...Australia: New South Wales floods are 'significant event'The Insurance Council of Australia (ICA) has declared a 'significant event' for regions of New South Wales impacted by significant storm and flooding...India: New mobile telematics-based comprehensive motor insuranceA comprehensive motor insurance product under Insurance Regulatory and Development Authority of India's (IRDAI) sandbox initiative has been launched...Lloyd's progress stifled by inflationary pressuresInternal and external challenges facing Lloyd's of London remain critical concerns for the world's largest insurance market, despite its positive...InsurTech to aid Indian agriculture insuranceGovernment-owned Agriculture Insurance Company of India (AICIL) has tied up with InsurTech Wingsure to strengthen the accessibility of insurance...Demystifying supply chain insurance managementNTT Data and SAP Asia Pacific and Japan (APJ) have announced a new co-innovation solution to improve supply chain insurance management.India: Obligatory cessions to GIC Re on way out?The obligatory cessions ceded by the Indian non-life insurance companies to the sole Indian reinsurer General Insurance Corporation of India (GIC Re)...Making underwriting easySwiss Re's Magnum is an underwriting solution created by Swiss Re for its client (insurers), who in turn use the platform to simplify the...India: Brokers will be important for 'use and file' regimeBrokers have an important role in the new 'use and file' regime implemented by Insurance Regulatory and Development Authority of India (IRDAI)...Insurer joins the priceless planet coalitionAXA Hong Kong has partnered with Mastercard to empower its customers to contribute to forest restoration through the Priceless Planet Coalition.BI and economic slowdown are top risks in South KoreaAon's 2021 global risk management survey for South Korea listed business interruption and economic slowdown as the top risks that organisations faced...Asia Pacific remains fastest growing regionA report published by S&P global ratings highlights that the core inflation in Asia Pacific is not as high as in the US and Europe, as a result of...Cyber insurance predicted to grow by 25% annuallyA new report by S&P Global Ratings has forecast that cyber insurance premiums are likely to increase at an average 25% per year to about $22.5bn by...Transforming culture in Lloyd'sLloyd's new culture strategy describes how it defines, engages and measures progress on culture across its market.Malaysia to provide homemakers with social insurance coverMalaysia will provide voluntary insurance protection to close to 3m Malaysian homemakers.Japan: Freakish hot summer leads to a new insurance coverageWith Japan experiencing one of its hottest summers on record this year and thousands of Japanese hospitalised for heat-related medical issues,...Gas and nuclear 'green' investments?European parliament has voted to include fossil fuel gas and nuclear power in the EU Taxonomy rules for sustainable investment activities.Rising cost of living could hurt insurance industry in IndiaWhile the pandemic changed the perception of insurance and more individuals felt the need to be prepared for unforeseen situations, the current surge...Three fourths of brokers interested in further digitalisation or automationA new survey by Aviva Insurance has revealed that 70% of brokers are interested or very interested in further digitalisation or automation.APAC incurs $7bn in estimated CAT claims for 1H2022Global insured losses ($39bn) from natural disaster events in 1H2022 were above the 21st Century average, up 18%, according to preliminary estimates...InsurTech funding recovers in Q2A report published by reinsurance broker Gallagher Re states that global investment in the InsurTech sector of $2.41bn in Q2 2022 was 8.3% greater...$170bn premiums at risk due to poor claimsPoor claims experiences could put up to $170bn of insurance premiums at risk in the next five years according to a new report by professional...Australia: COVID-19 third leading cause of death in 2022Deaths from COVID-19 are expected to reach 7,100 for the first seven months of 2022, according to the latest Actuaries Institute research, with...Underwriters need to master variety of skillsetsFuture underwriters must become skilled statisticians, engineers and technologically literate if insurance is to meet the needs of consumers and...Racially and ethnically diverse businesses more adaptable to changeSmall businesses with greater levels of racial and ethnic diversity are more likely to have changed their business approach during the pandemic than...Cyber attacks increased by 42% globallyCyber attacks are increasingly rapidly, from malware, data theft, distributed denial of service, to ransomware where device and data access are...Global executives say blockchain is all hypeMore than 20% of global executives are of the opinion that blockchain technology is all hype. A new survey by data and analytics company GlobalData...Majority of Japan's top firms permit moonlightingIn Japan, major companies, including a few major insurers, are permitting employees to hold side jobs, viewing the step as a morale booster that pays...Ping An launches third satellite to improve financial inclusion for MSMEsPing An Insurance has announced the successful launch of PingAn-3, also known as Taijing-1 01, Ping An's first earth observation optical...K-ICS to put pressure on capital of Korean insurersThe implementation of the Korean Insurance Capital Standard (K-ICS) starting 2023 is likely to have a limited impact on insurers' ratings, although...Green and blue hydrogen project risks to get insurance coverThe world's first-of-its-kind insurance and reinsurance facility that provides dedicated insurance capacity for new and existing green and blue...Two battery fire claims spark losses of over GBP500,000Two large claims associated with fire in lithium-ion batteries in an electric scooter and a e-bike in UK have resulted in a loss of almost GBP500,000...India: GIC mediation continues between general insurers and IRDAIGeneral Insurance Council of India (GIC) is continuing its mediation efforts between Insurance Regulatory and Development Authority of India (IRDAI)...First MGA assessment in APAC sees firm receive 'Excellent' ratingRatings agency AM Best recently awarded New Zealand-owned Delta Insurance Group (Delta) a performance assessment of PA-2 Excellent, making Delta the...Coalition to increase lending capacity in Asia PacificTokio Marine & Nichido Fire Insurance (TMNF) along with Tokio Marine HCC (TMHCC) and four other global insurers have partnered with Asian Development...Academic programme bundled with life insurance sales jobBharti AXA Life Insurance in partnership with edtech company Great Learning will offer a post graduate study programme in life insurance sales.First snow insurance launchedThe Demex group has launched new snowfall insurance, which is being described as first-of-its-kind.Labuan continues to captivate the marketThe well-regulated business environment was a vital factor to the sustained growth of the captive market in Labuan, said Labuan Financial Services...Tightened building regulations increase Nat CAT lossesInsurance-linked securities (ILS), like many other investments, are not safe from the impact of inflation, which has driven up the cost of claims for...IFRS17 unlikely to affect ratingsWhile insurers prepare for IFRS17 that takes effect next year, S&P Global Ratings expects that the new standards will improve transparency and make...Young Chinese insure their parents firstAlmost half of Chinese below the age of 30 choose to purchase insurance for their parent first according to a new report by insurance technology...Insurance Authority releases findings of its first literacy surveyThe Insurance Authority (IA)has just published findings of the Insurance Literacy Tracking Survey, which is a project devoted to assessing the...Nepal: Overseas reinsurers default in settling their duesDomestic insurers in Nepal are unable to settle their claims of their policyholders as the overseas reinsurers have defaulted on paying the...Insurance industry M&A deals hit 10-year highMergers and acquisitions (M&A) in the insurance industry touched the highest growth rate for 10 years in the first half of 2022 according to law firm...Report reveals India's most road accident regionsThe bi-annual edition of the ACKO Accident Index 2022 reveals that Delhi national capital region and Mumbai are the most road accident-prone regions...First industry-wide controls library for operational riskORX, the global association of operational risk professionals, along with McKinsey & Company has launched a new digital tool which is set to...Insurer launches product recall solution for Asia PacificSpecialist insurer Beazley has launched a product recall solution that offers comprehensive protection from manufacturing errors in the Singapore and...Lack of data and expertise hamper climate financial disclosuresSingapore and the Philippines are increasingly aware of the financial impact of climate change, however, they lack the right expertise and better...Evolution of the life insurance industryDuring the Life Summit, Asia Insurance Review spoke to dacadoo president, CEO and chairman Peter Ohnemus, about how the life insurance industry will...Diverging rate of growth in emerging marketsDespite headwinds such as the global slowdown and geopolitical tensions, the outlook for P&C insurers in emerging markets in the Asia-Pacific region...India: Provident fund organisation bats for increasing retirement ageEmployees' Provident Fund Organisation (EPFO) has recommended that India should substantially increase the retirement age in the country, aligning it...Reinsurance capital declines during first half of 2022Global reinsurance dedicated capital totalled $647bn during the first half of the current year, down 11% from the restated 2021 base, with the...Steady demand for CAT bondsThe global ILS market continues to attract investors despite industry headwinds. A report by Aon, 'Alternative Capital: Growing Markets', said there...India: Investigation agency to probe fraud cases on the anvilInsurance Regulatory and Development Authority of India (IRDAI) is considering setting up an independent investigation agency to probe cases of...German reinsurer enters Asian marketGerman reinsurer Deutsche Rückversicherung AG will start writing business in Asia, starting with selected markets in South, Southeast and East Asia.Voluntary carbon credit insurance product launchedInternational insurance broker Howden has launched a carbon credit insurance product designed to give buyers and sellers of high-quality, verified...Singapore: Insurers encourage intrinsic approach to ethical standardsEfforts to improve the standards of the life insurance ecosystem in Singapore must be intrinsic rather than taking a strict rule-based approach...Riskier outlook for non-life as inflation persistsInsurance sector outlooks in several markets around the world could move to 'deteriorating' if high inflation and rising interest rates persist...Nature-related risks and opportunities for insurance underwritingA new report seeks to raise awareness about the relevance of nature-related risks and opportunities for underwriters to explore how the insurance...Indonesia: Agreements signed to raise insurance literacy and educationLife insurers in Indonesia are collaborating with local universities to improve insurance literacy in the country and educational programmes to...China makes good progress in caring for ageingChina has made tremendous progress in the area of care for senior citizens over the past decade according to National Health Commission of China...Climate change: India extremely vulnerable to displacement of peopleFloods are among the primary hazards of concern and account for most weather-induced displacements according to a new report by the Asian Development...Digital health firms in need of insuranceThe digital health market has seen a surge in demand for services, especially amid the pandemic. In a survey conducted by Beazley, 72% of digital...Insurance and the evolving cyber landscapeCyber insurance is still very much an emerging area for the industry since its first appearance in the 1990s but recent socio-political events are...Southeast Asia's coastal cities sinking fastestAn increase in extraction of groundwater, oil, and gas, as well as the rapid construction of buildings and other urban infrastructure is making many...First ever airport risk indexWTW and the University of Cambridge's Centre for Risk Studies have launched an Airport Risk Index. The index allows the world's airports will be able...Small business owners have none to confide inA new study from AXA UK has revealed that almost half (48%) of small business owners feel they have nobody to confide in about the problems and...More support needed for green insuranceMajority of the world's energy is still dominated by non-renewable sources such as coal, oil and gas. While there are some insurers who have stopped...Hong Kong insurer cuts product prices in halfHong Kong-based digital insurer Bowtie recently decided to do its part in narrowing the protection gap by reducing the prices of premiums by up to...Cyber staff shortage leaves Australia exposedAustralian businesses are becoming vulnerable to cyber attacks in the absence of specialist cyber security staff according to a new report released...LIC to increase agent strength by 40%India's sole life insurer in public sector, Life Insurance Corporation (LIC) of India which had 1.33m individual agents as on 31 December 2021, is...Global extreme events to cost insurers $120bnA report by Verisk Extreme Event Solutions estimates that on an annual average basis, catastrophes around the world are expected to cause about...Global debt of $22tn at risk of cyber attacksHospitals and infrastructure including electricity, gas and water utilities are the most at risk according to a new report by the ratings agency...Chinese insurers plan to outsource more investmentsChinese insurers are shifting their investment allocations and are focused on increasing those that are ESG compliant. The insurers currently have a...Insurers asked to stop covering LNG expansionEnvironmental NGO Reclaim Finance has asked global insurers to not renew the insurance coverage to Ichthys LNG, a liquefied natural gas (LNG) project...Majority of truck crashes caused by humansDriver error, distraction, fatigue and other human factors now account for 63.5% of serious truck crashes according to a new report by Australian...Crypto firm secures $50m insurance coverageDigital asset management platform Matrixport took over a year to secure insurance coverage for digital assets. The insurance coverage was sought to...Insurers to collaborate on space sustainability benchmarksNew space sustainability benchmarks will be developed to address the issue of debris in the Earth's orbit. Space debris poses an alarming risk for...Elderly care needs society and family togetherPing An Life has launched a home-based elderly care brand, Ping An Concierge, continuing to build differentiation advantages with the 'insurance +...Shift in attitude on living with COVID-19A new health survey has revealed that Hong Kong residents are now changing their attitudes on how to live with the COVID virus and regain normalcy in...India's global stature offers insurers greater opportunitiesSpeakers at National Insurance Academy's annual insurance summit with the theme 'Broadening the horizon: Navigating towards a fully insured India'...New project cargo consortium at Lloyd'sA new cargo consortium launched at Lloyd's of London will provide the largest single cargo capacity in the market. Liberty Project Cargo Consortium...Household financial assets set to declineFor the third year in a row, global financial assets held by households grew by double-digits, according to Allianz.Brokers can shield SMEs from inflationary pressuresAccording to a new blog by Travelers Insurance, while inflation can make life difficult for a business of any size, SMEs may feel the pressures most...Asia's first proactive group health insurance solution launchedInsurTech DocDoc has collaborated with QBE Singapore to launch a differentiated group health insurance product, that aims to make obsolete legacy...Singapore: Bubblegum intends to chew into other markets in regionMoneysmart's latest venture into the broker space, Bubblegum, hopes to break into other markets in Asia within the next five years according to head...Malaysia: A third of working adults still not personally protectedThe Malaysian insurance market faces a lack of awareness and understanding of personal protection products among its consumers. This has led to a...India: Another auto manufacturer gets into insurance brokingHyundai Motor India (HMIL) has received approval for its subsidiary Hyundai India Insurance Broking (HIIBPL) to function as a direct general...Japan: Health insurance to cost more for high-income elderlyTo ease the burden on country's working generations and to make its healthcare systems sustainable, Japan has proposed to raise the upper limit on...Japan: New covers for EV-related issuesDrivers of commercial electric vehicles in Japan will soon have new insurance covers available for issues connected with their vehicles.Channelling premiums into ESG investmentsQBE Asia has launched Premiums4Good, a global initiative that invests everyday premiums to make a difference to communities across the globe.Retaining older workers to address talent crunch in Hong KongA recent study has revealed that employers in Hong Kong are addressing the talent crunch challenge by focusing on retirement age and benefits for...Major trends in marine insurance claimsFire, collision and sinking, and damaged cargo are the top causes of marine insurance losses by value according to Allianz Global Corporate &...Japan: Insurers now cover parental leaveThe Japanese insurers now offer insurance covers that pay out to companies if employees go on parental leave, eyeing growing demand for such services...Japan: Insurer to cut jobs as claims outgo increasesJapan's MS&AD Insurance Group Holdings has decided to cut down its personnel costs and increase productivity by adopting relevant technology.China: Manulife IM to take full control of joint ventureManulife IM had been granted approval to acquire 51% of shares in Manulife TEDA Fund Management, a joint venture with assets under management (AUM)...Huntington Group acquires digital broking firm in ThailandSingapore-based The Huntington Group (Huntington) has decided to acquire Futuready Thailand from Aegon. Following the transaction, Huntington and its...Singapore: General insurance industry to reach $6.6bn by 2026The general insurance industry in Singapore is set to grow at a CAGR of 7.2% from S$4.7bn ($3.5bn) in 2021 to S$6.6bn ($5.1bn) in 2026, in terms GWP...India: 86% of travellers consider travel insurance a necessityInterest in travel insurance kindled by the pandemic has sustained and travellers, both for international and domestic destinations, consider travel...Hong Kong sees drop in total gross premiums for first three quarters of 2022The Insurance Authority (IA) released provisional statistics of the Hong Kong insurance industry for the first three quarters of 2022, showing a...Climate events cost India $7.6bn in 2021In 2021 weather and water-related hazards caused total damage of $35.6bn in Asia. These climatic events affected nearly 50m people in the continent....New guidelines for AI and discrimination in insuranceWhile AI promises faster and smarter decision making, safeguards are needed to prevent potential discrimination according to the Australian Human...Marine insurers enjoy another positive year of growthGlobal marine insurance premiums in 2021 reached $33bn, up 6.4% on 2020, according to the International Union of Marine Insurers' (IUMI) latest stats...Detailed satellite imagery to help insurers monitor cropsICRISAT scientists have collaborated with the Asian Development Bank (ADB) to develop high-resolution spatial maps that enable cropland mapping for...Sumitomo Life's declining solvency ratio under scrutinyS&P has placed Sumitomo Life's issue ratings on CreditWatch with negative implication, which implies a possible downgrade if the insurer's declining...EVs will dominate Indian motor market by 2030A survey by InsurTech Acko and YouGov India on Indian motor vehicle consumers preferences has revealed that electric vehicles (EVs) will be the first...Insurer engages with communities across Asia PacificThe 10th annual Regional Day of Service (RDS) was organised by insurer Chubb in early November across 10 markets in the Asia-Pacific region through...Hong Kong is the top intended destination of travel-starved ChineseHong Kong is the top intended destination for mainland Chinese travellers who have endured nearly three years of restrictions and movement curbs...Australia: An increase in significant breaches of the code of practiceThere has been a substantial increase in significant breaches of the general insurance code of practice according to the latest annual report of the...Singapore: Working professionals make organisations vulnerable from withinAlmost half (49%) of the Singaporean employees work remotely, blurring the lines between personal and professional life and thus expanding cyber...Taiwan: Pandemic impacted mental health of 4.43mThe mental health of around 4.43m adults in Taiwan was affected by the COVID-19 pandemic in 2022 according to a new survey conducted by the Mental...New platform launched for digital risk management solutionsORX has launched a platform which brings together a new generation of risk management and data visualisation applications.Customers want convenience and climate action built on trustInsurance consumers are now looking for the same convenience from their insurance companies as they are in other areas of their lives according to a...India: Insurers asked to design products for people with disabilitiesThe Delhi High Court has directed the Insurance Regulatory and Development Authority of India (IRDAI) to call a meeting of all insurance companies to...Narrowing the wealth gapIn many parts of the world, women are in charge of purchasing insurance for their families, but the gender wealth and protection gap remains quite...South Korea is the third most targeted country for crypto fraudNew research by CoinJournal, a publication that focuses on cryptocurrency, looked at available data around major breaches and fraud since 2011 to...India's first-ever surety bond insurance launchedIndia's first ever 'surety bond insurance' product is now available in the market. Developed by Bajaj Allianz General Insurance, the product was...India: mis-selling of insurance covers is coming downIt is a point of satisfaction for the Indian insurance industry that complaints about mis-selling of insurance policies are now showing a downward...Uptake of health insurance in rural India is improvingThe pandemic has helped in increasing the awareness of healthcare and health insurance in rural and semi urban areas of India and this is reflected...Japan's life insurance industry looks forward to a good yearAt the beginning of the year, the chairperson of the life insurance industry of Japan (LIAJ) Seiji Inagaki published a new year's message. In it, he...Insurer signs tech partnership for cancer treatmentSinglife has inked a memorandum of understanding with private cancer care provider Icon Cancer Centre Singapore in a bid to enhance access to...Indonesia InsurTech aims to revolutionise underwritingCompanies in Indonesia such as IKEA, Gojek and Shopee are customising insurance policies to suit the products they sell. It is made possible through...ARPC settles purchase of $2.4bn terrorism retrocessionAustralia's terrorism reinsurance pool, administered by Australian Reinsurance Pool Corporation (ARPC), purchased its retrocession programme for the...Most valuable insurance brand for seventh consecutive yearPing An Insurance (Group) Company of China has been ranked the world's most valuable insurance brand for the seventh year in the running by brand...India: $25bn retail health insurance market by 2028India's retail health insurance segment has the potential to become a $25bn market in the next five years according to a new research study.India: Pandemic boosts non-life sectorGovernment initiatives in the insurance sector and measures to improve financial inclusion have driven insurance adoption across segments in India...Claims trends and future risksSpecific drivers will prevail in the insurance industry during 2023 and these will include ESG risks, geopolitics, technology change and claims...India: Around 20% health insurance policyholders unaware of basic policy termsIn India, one in five health insurance policyholders is unaware of basic policy terms despite purchasing the policy on their own according to a new...Contingent legal risk insurance launched in APALiberty Global Transaction Solutions (GTS) has launched its contingent legal risk insurance (CLRI) M&A product in the Asia-Pacific market.APAC reinsurance hindered by natural hazard losses and inflationWith APAC's exposure to extreme weather events leading to unsustainable natural hazard losses and high inflation worsening them, reinsurers in the...Massive 7.8 magnitude earthquake rocks Turkiye and SyriaA magnitude 7.8 earthquake struck southern Turkiye, near the northern border of Syria. The death toll has exceeded 2,300 in Turkiye and Syria and...Term life products preferred by IndiansThe FutureFearless survey conducted by market research firm YouGov for Ageas Federal Life Insurance has revealed that term products are the most...Despite digital, consumers still want human connectionCompanies in India have digitalised nearly all interfaces that connect with customers, but this reduction of physical effort has now hit a point of...Nature at the heart of insurer's new sustainability strategyPutting nature at the heart of its strategy demonstrates AXA XL's ambition to be an industry leader in protecting biodiversity to promote resilient...More than one third Japanese women who work would rather be at homeOver 35% of working women in Japan would rather be home makers according to a survey conducted by Sony Life Insurance Company.Japan: Rising interest rates complicate transition to new solvency regulationRegulatory solvency margin ratios (SMR) for Japan's insurers have been rapidly declining. Interest rate increases put downward pressure on the...Great Bay Area: Consumers not confident of paying for critical diseasesConsumers in the 11 cities of Greater Bay Area (GBA) are worried about the growing gap between increasing medical costs associated with critical...Scope for insurers and InsurTechs to grow togetherThe Indian insurance industry has a lot of scope for collaborative and mutually beneficial partnership between traditional insurers and InsurTechs.Hong Kong: Feedback needed for proposed climate charterThe Hong Kong Federation of Insurers (HKFI) is seeking feedback from insurers regarding a proposed insurance industry climate charter. A member...Online used car marketplace invests in InsurTechAn online marketplace for used cars, Carro, is investing in technology to improve insurance distribution and claims processes for customers and...Reinsurer partners with tech institute for TB screening kitIndian reinsurer GIC Re has partnered with the Indian Institute of Technology Madras (IIT Madras) to develop a urine-based tuberculosis diagnosis or...Insurer empowers differently abled persons with mobility solutionsBajaj Allianz General has initiated steps to empower differently abled persons with mobility solutions.To achieve success, first learn then talkHow women can thrive in the insurance sector is a question that has been debated for some years now.Empowering women in insuranceTo help women achieve their full potential in life and to ensure they are financially independent a life insurer can do a lot.Managing the work-life balanceBajaj Allianz General Insurance's Ms Alpana Singh has spent over three decades in the Indian insurance industry. She says the biggest challenge for...New Zealand: P&C insurers expected to face higher Nat CAT claimsP&C insurers are set to face higher claims due to multiple sizable natural catastrophes in New Zealand according to S&P Global Ratings report, 'New...Hong Kong's insurers see a rise in female leadershipThe Hong Kong insurance industry has embraced gender equality and now sees more women in leadership positions.Limited impact of US bank failures in AsiaThe recent high-profile closures of Signature Bank and Silicon Valley Bank are expected to have limited impact on Asian financial institutions...Majority of Indians prioritise mental wellbeing over high-paying jobsNearly 88% of Indians are ready to trade their high-paying jobs for comparatively low-paying ones for their mental wellbeing as stress from work has...Trillion-dollar global protection gaps identifiedA new report by Global Federation of Insurance Associations (GFIA) has identified and quantified the most significant - and growing - annual global...Insurers get ready to bridge the talent gapThe year 2023 has thus far been quite challenging for GenZ. The global slowdown and mass layoffs by technology majors, many industries impacted by...Rural India offers ample scope for life insurersA new survey conducted across 113 villages in India has found that only 22% of India's rural population owns life insurance products compared to 73%...Insurers should avoid complacency amid bank failuresFrom the failure of banks like SVB and Signature Bank in the US to the takeover of Credit Suisse, crisis in the banking sector has raised concerns of...Last-minute clients pose biggest challenge for trade creditTrade credit insurers require time, information and resources to make assessments on credit risks. However, it may be tough for insurers to make...Marine industry challenged by more fires and supply chain risksVessels are exposed to higher fire risks caused by many issues including increased shipments of highly combustible lithium batteries. However,...Almost half of Japanese consumers would like to track their carbon footprintAlmost 40% of bank or financial app users in Japan would like their apps to help them measure their carbon footprint, according to a survey conducted...India: Over 65% women opt for women-specific health insurance plansOver 90% of women in India participating in an insurance survey feel that women-specific health insurance plans are highly relevant. Around 65% of...Major global insurers asked to stop insuring fossil fuelsThe Insure Our Future network has asked the CEOs of 30 major insurance companies to stop offering insurance services for fossil fuels.Poor retirement health highlights need to plan for the futureHongkongers live longer than most people, but they think that their early-to-mid 60s will be dogged by poor health according to Manulife Asia Care...Hong Kong: Target Holdings withdraws appeal against regulatory actionsHong Kong's Target Holdings has withdrawn its application to the Insurance Appeals Tribunal (IAT) to review certain specified decisions imposed by...Japan could face a 11m worker shortfall by 2040Japan's working age population is expected to decline rapidly from 2027 and the country could face a shortage of over 11m by 2040 according to a new...India: Most employers don't offer employee benefits mental health coverThree out of four companies participating in a health insurance survey do not cover mental health in their health benefits package.Another major insurer quits Net Zero Insurance AllianceZurich Insurance Group has withdrawn from Net Zero Insurance Alliance (NZIA). It is the second major insurance group to have left the alliance....India: majority of insurance customers want to meet their agents more oftenMajority of life insurance policyholders (80%) in India want to meet their insurance agents more often, at least once in every six months according...Nepal: Regulations for micro-insurance business issuedNepal Insurance Authority (NIA) has issued license of operations to two microinsurance companies, Guardian Micro Life Insurance and Nepal Micro...India: Insurers to take errant healthcare providers to taskAs a measure to boost the confidence of health insurance customers, the Indian insurers have decided to penalise errant hospitals for fraud,...India: public sector general insurers continue to lose market shareThe four public sector general insurers in India continue to lose their market share to private sector. The market share of the four companies, at...Political Risk now becomes 'everyone's risk'Nine out of 10 companies have suffered a political risk loss in the past year, transforming political risk from a low frequency, high severity peril...Australia: Review of insurers' response to 2022 floodsThe Australian insurance industry's response to the record floods in 2022 will be under review by the Insurance Council of Australia (ICA).Australia: Insurers say outright ban on ransomware payment not rightThe Insurance Council of Australia (ICA) has asked the government to tread with caution as it contemplates an outright ban on paying ransoms and...Jump for healthIndian private health insurer, Aditya Birla Health Insurance, has launched the latest edition of its 'Jump for health' campaign across India to...Corporate resilience remains strong in IndiaThe third edition of the Corporate India Risk Index (CIRI) 2022, a proprietary study conducted by private non-life insurer ICICI Lombard in...Economic and cyber risks biggest concern for directorsEconomic and cyber risks are causing increasing concern for directors and officers worldwide, according to a Directors Liability 2023 survey from WTW...Net Zero Insurance Alliance (NZIA) in transitionNet Zero Insurance Alliance (NZIA), which has been buffeted by three high-profile exits in the last few weeks, got a shot in the arm when Canada's...Employee wellbeing has risen in importance and investment in Asia PacificThere is a close relationship between employees' wellbeing and a sustainable working life and it can impact a company's performance according to...Reinsurer to launch new 'green' portfolioMunich Re Specialty Group will soon launch Green Solutions, a portfolio of insurance products and services that supports its customers' net zero...Another major insurer commits to stop insuring new fossil fuel explorationTalanx, the third largest German insurance group, which operates globally, has adopted new restrictions on oil and gas. Talanx is 15th major global...Asia Pacific's cyber security worker shortageAsia Pacific is facing a large and worrying gap in its requirement and availability of cyber security workers in majority of its organisations...Singapore: Insurer helps retrenched telco customersAmid high profile retrenchments in recent months, insurer Etiqa and Singapore telco Singtel has just launched a product to help those out of work pay...India: Every second working professional is prone to mental health issuesA new survey has revealed that about one in every two corporate employees in India is at a risk of poor mental health.India: Life insurer to offer insurance to MSMEsMax Life Insurance and Indian Industries Association (IIA) will together provide life insurance plans to the workforce of micro, small and medium...Singapore: Deposit insurance scheme under reviewUnder Singapore's Deposit Insurance Scheme (DI), the savings of nearly 89% of the depositors up to S$75,000 ($56,200) per depositor per participating...Australia: A new national Net Zero AuthorityAustralia will establish a new Net Zero Authority to ensure the workers, industries and communities that have powered Australia for generations can...Vietnam: InsurTech expands weather index insurance trials on rice and coffeeInsurTech Igloo is planning to expand its offering of weather index crop insurance products in Vietnam after a promising start with rice farmers in...Stress is critical issue for employees' health and wellbeingAlmost half of all employees (47%) report feeling stressed in everyday life, according to a new survey conducted by Mercer Marsh Benefits.Family and health become most important prioritiesA new report which surveyed 5,000 residents across 13 markets in Asia reveals that seven in 10 respondents (68%) have changed the way they define...Cyber attacks driven by software vulnerabilitiesCombatting the increased exploitation of software vulnerabilities with a layered 'defence in depth' cyber security strategy is essential to protect...A D&O product covering complete lifecycle of investmentsSpecialist insurer Beazley has launched a new private equity liability insurance product for D&O risks inherent to the portfolios held by private...Containers lost at sea falls to record lowContainers lost overboard at sea registered a welcome record low during 2022. The annual survey by World Shipping Council (WSC) recorded a loss of...Only about 60% Singaporeans optimistic about healthy old ageSingaporeans are living longer, and yet, only 59% are confident they will be healthy enough to live well to age 80 or beyond according to a report...Most 'sustainable' funds to fall shortOnly 4% of 'sustainable' investment funds would automatically comply with the labelling and naming rules for disclosures set by major regulatory...Self-driving cars must learn the language of cyclistsFuture generations of self-driving cars should learn the language of cyclists to help them safely share the roads according to new research from...Chinese insurer releases first-ever AIGC application white paperChina's ZhongAn Insurance, together with ZhongAn Technology, has published a white paper on generative AI technology.A comprehensive travel insurance product for holiday-makersDirectAsia Singapore, part of the Hiscox group, has launched a tailored insurance cover for Singapore based families planning holiday trips abroad...Insurance for surrogate mothers and egg donorsAegon Life has launched India's first life insurance cover tailored for surrogate mothers and egg-donors.Japanese life insurers to see recovery in profitabilityThe overall credit fundamentals of Japanese life insurers will remain resilient in the financial year ending March 2024 (FYE24), said Fitch Ratings...Heat insurance for poor workersOver 21,000 poor women in Indian state of Gujarat have been enrolled in one of the world's first insurance plans for extreme heat launched by...Hybrid working leads to increase in security incidentsA new Asia-Pacific SASE survey commissioned by cyber security company Fortinet reveals that hybrid or fully remote working is expected to compound...New Zealand: Government plans to buyout disaster affected propertiesThe New Zealand government will work out a funding arrangement with councils in cyclone and flood affected regions of the country to support them to...Vietnam: Quality of insurance agents should improveImproving the quality of insurance agents and consultants in Vietnam is a critical factor to consolidate trust of insurance buyers and bring the...Australia to spend $270m for disaster preparednessFederal government of Australia will fund around 200 projects to the tune of A$400m ($270m) to better protect Australians from natural disasters.Hong Kong SMEs deprioritise employee healthAs most businesses resume normal working arrangements this year, the majority of SMEs in Hong Kong expect more employees to work solely in their...New emerging risksSwiss Re has identified the opening of the Arctic as an emerging risk in its latest report.Singapore: Swiss Life implements additional measures to detect client misconductAn insurer was among financial institutions penalised by Singapore regulator MAS for breaches of anti-money laundering and countering the financing...Cost of living crisis fuels increase in global civil unrestOver the past year much of the developed world has been hit by double digit inflation and rising interest rates, with a sharp fall in real incomes....India: National Insurance Awareness DayIndia's National Insurance Awareness Day observed on 28 June annually highlights the importance of insurance in an Indian's life. Indian insurance...Global cyber loss event estimated at $33bnA one-in-200-year cyber event has the potential to produce damages between $15.6bn and $33.4bn and a one-in-50-year event could lead to potential...Insurance penetration is low in tier-2 and tier-3 Indian citiesOnly 30% of the participants in a survey in India's tier-2 and tier-3 cities currently own insurance policies. In the general insurance category...New Zealand: Bank deposits insurance law enactedNew Zealand now has a new law insuring bank deposits up to N$100,000 ($62,050). The bill was passed by the country's parliament on 29 June 2023. The...South Korea: Loopholes in governance of private health insurance to be pluggedSouth Korea will soon plug the loopholes that encourage increasing number of foreigners to abuse the country's private healthcare insurance services.Insurance concerns impede life-saving genetic testing in AustraliaConcerns about insurance impede genetic screening in Australia. The country's life insurance industry is still allowed to ask for results of genetic...Insurers question cloud benefitsAround 40% of insurers are either unconvinced or remain dissatisfied with cloud computing, according to a new global survey of insurers. The new...India: Digital transformation in general insuranceCompared to younger age groups, older age groups (those over 45) have utilised online platforms more frequently for account opening and documentation...India: Agriculture premium climbs, claim settlements declineEven as the agriculture insurance premium collection in India is going up, claims paid by the insurers are going down consistently. In 2022, the...Nepal: Insurers ready to defy new reinsurance directivesThe Nepal Insurers' Association (NIA) has asked domestic reinsurers to restore the previous year's reinsurance commission rates, failing which it...Japan: Life insurer bans investment in nuclear armsJapan's largest life insurer Nippon Life Insurance will not invest in or finance nuclear weapons manufacturers under its new ESG policy.Australia: Insurer fires woman after monitoring by keystroke technologyAn Australian woman working with Insurance Australia Group (IAG) for 18 years was dismissed after the company used keystroke technology to monitor...India: Insurers expected to act in fair manner, not just care for profitsAn insurance company is expected to act in a bonafide and fair manner with its clients and not just care for and cater to its own profits according...Insurers' mangrove planting initiative protects coastal communitiesIn order to protect coastal communities from property damage due from flooding, MSIG Malaysia has planted 6,247 mangroves throughout Malaysia in a...China: AI generated prescriptions prohibitedMunicipal health authorities in the Chinese capital Beijing have prohibited the use of AI to generate prescriptions automatically. This measure is a...Intergenerational report outlines Australia's future in 2063Longer life, ageing population, slowing population growth, reducing working population and climate change are among the seven major focal takeaways...New Zealand: Industry's climate approach needs a changeFinancial service organisations in New Zealand acknowledge climate related risks and their impact on the organisations, however, the activity on...New Zealand: A big surge in insurance to hit farmers hardThe current agriculture reinsurance market in New Zealand is perhaps the toughest it has been in many years, driven by accelerating climate related...International law firm forms association with Singapore firmInternational law firm DAC Beachcroft (DACB) has formed an association with Singapore-based Incisive Law to provide an offering to clients, covering...Reinsurers see rise in capital base in H1 2023Gallagher Re's latest Reinsurance Market Report revealed that capital dedicated to the global reinsurance sector totalled $709bn in the first half of...Singapore: Lags in cyber security practices despite growing awarenessIn 2022 more Singaporeans were aware of online scams and cyber security measures, as compared to 2020, (43% vs. 32%) yet many still fail to adopt...Industry-wide risk indicator library launchedORX, the largest global association of operational risk professionals, has launched a world first industry-wide risk indicator library for...Millennials and Gen Y are the biggest emergency savers in AsiaAccording to a recent survey by Prudential plc, Empowering Aspirations: Financial Preparedness in Asia, more than 60% out of the 5000 respondents...Lloyd's Lab: 11th InsurTech cohort to focus on Asia PacificThe 12 new teams that are joining the 11th cohort of the Lloyd's Lab will work on the new theme Asia-Pacific Climate Risk, Cyber and Sustainability....Insurance critical for financial immunityA study by private life insurer SBI Life and Deloitte has revealed that 71% of uninsured Indians feel insurance is a critical lever for building...India: AI helps government's health insurance scheme tackle fraudBased on information of fraud obtained through AI and ML anti-fraud initiative, India's government run health insurance scheme Ayushman...Embedded insurance is the flavour of the seasonA majority (56%) of financial executives involved in insurance decision-making globally expect to generate more than 10% of their revenue from...India: Only 24% of international travellers buy coverOnly 24% of international travellers bought travel insurance in their non-work related overseas trips in the last one year, however, 92% of the...Private debt offers investment opportunity for insurersA survey by Preqin revealed that private debt could offer opportunities for insurers.APAC: Double-digit growth expected in liability insuranceThe liability insurance industry in APAC is projected to grow from $39.4bn in 2023 to $61.7bn in 2027, in terms of written premiums, according to...Deciding about insurance in a changing climatePsychological factors and how risk is communicated influence the decisions around buying insurance according to a study conducted by a team from the...As India ages, insurers can helpIndia's elderly population is increasing fast and may surpass the number of children (aged 0-14 years) in the country by 2050 according to a new...Digital tools are enablers of life insuranceEven as insurance consumers in Singapore increasingly opt for digital, they still regard advice from financial advisers to be more trustworthy and...APAC: Double-digit growth expected in liability insuranceThe liability insurance industry in APAC is projected to grow from $39.4bn in 2023 to $61.7bn in 2027, in terms of written premiums, according to...Worldwide reinsurance premium amounted to $500bn in 2022Reinsurance premiums worldwide in 2022 reached $500bn according to recent updates by insurer Insuramore.Digitalising while humanising insuranceThe insurance industry is going through a period of great change. Climate change, shifts in technology and workforce challenges, coupled with...Developing commercial pension insurance products in ChinaChinese insurance companies will now be allowed to develop and offer exclusive commercial pension insurance products.Global reinsurance trading platform launched in ChinaIn yet another step towards developing Shanghai as a reinsurance hub, the Shanghai Insurance Exchange (SIE) has launched its international...Australia general insurance: ROE bounced back into target range territory in FY2023The Australian general insurance industry bounced back to 14% return-on-equity (ROE) in FY2023 largely driven by improved investment returns thus...Singapore: Insurer enhances motor insurance coverage for EVsAs electric vehicle (EV) ownership continues to gain traction in Singapore, MSIG Insurance has enhanced its personal motor insurance plan with more...Is the reinsurance industry complacent?That was the question CNN Philippines senior news anchor Rico Hizon posed at the recently concluded SIRC 2023.By 2050 one in four people in APAC will be above the age of 60One in four people in Asia Pacific countries will be above the age of 60 by 2050 and more than half of them will be women according to United Nations...Long-term financial planning in back seat SingaporeAmong Singaporeans, longer-term financial plans such as retirement planning and investment have been put on the backburner.Diversity does not stop at hiringOne of the issues the insurance industry tackled at the Global Insurance Forum 2023 was the importance and benefits of a diverse workforce and how...Moving from benign globalisation to power competitionThere were a number of things Singapore deputy prime minister Lawrence Wong spoke about at the Global Insurance Forum 2023. One of the topics he...Is bancassurance in Southeast Asia sustainable?The answer is 'yes', according to a Swiss Re report published in October 2023. Over the past few years, bancassurance has made significant...Cyber insurance is at a crossroadsDespite cyber attack or data breach being the top business risk, according to Aon's 2023 Global Risk Management Survey, the cyber insurance market...Latest report highlights impact of inflation on ASEAN insurersThe surge in inflation influenced much of 2022, resulting in a tightening of monetary policy - and in turn - capital market volatility and a...Using automation to stay competitiveOver the past few years, the insurance industry has become more dynamic with digital-only insurers entering the market with new business models...Can insurance play a role in biodiversity?In September 2023, the International Institute for Environment and Development published a guide for governments, conservationist practitioners and...Embedded insurance continues to develop in AsiaIn Asia, embedded insurance has developed into an integral part of many product life cycles, according to InsureMO chief revenue officer Rajat Sharma.ICCSC warns against unregistered intermediariesIn its fourth paper, Promoting Ethical Culture and Conduct in Insurance Intermediaries (General), the Insurance Culture and Conduct Steering...Typhoon Doksuri is costliest disasterAccording to Munich Re's Nat CAT 2023 report, overall losses in APAC in 2023 were $50bn, of which $7bn was insured. There were 11,900 fatalities. The...South Korean insurance growth to reboundGrowth of the South Korean insurance industry is expected to rebound in 2024, according to Fitch Ratings senior director, APAC insurance Terrence...Fraud in insurance - not so clear cutWhat is the propensity to commit fraud in insurance?How can the (re)insurance industry attract talent?The (re)insurance industry lacks young talent. There is a void at middle management and junior levels which does not bode well for future talent...Insurer commits to improving road safetyIndian private player SBI general, under its corporate social responsibility initiative, plans to create safe roads across India through various road...Awareness of product liability insurance on the riseA new Global Insurance Law Connect (GLIC) report highlights international variations in response to product liability insurance as consumers demand...Worldwide reinsurance premium amounted to $500bn in 2022Reinsurance premiums worldwide in 2022 reached $500bn according to recent updates by insurer Insuramore.India: Insurance growth expected until 2028According to Swiss Re's January India's insurance market: Growing fast, with ample scope to build resilience report, regulatory support, innovation...APAC: Insured losses lower than averageIn 2023, total economic losses due to Nat CAT in APAC were $65bn, according to Aon's 2024 Climate and Catastrophe Insight report. Of that amount, the...How insurers can achieve higher penetration among bank customersAccording to The Boston Consulting Group managing director and senior partner Madrid Santiago Mazón, Asia should 'double down' on bancassurance.Snapshot of New Zealand flood lossesThe final estimate of insurance market losses from the New Zealand North Island floods is NZD2.2bn ($1.4bn), PERILS said in a press release. The...APAC businesses lack coverage against weather risksAccording to WTW's Global Real Estate Risk Outlook 2024 - Smarter risk management: Navigating emerging challenges, risks and opportunities, 63% of...Asia: Insurers increased capacity for cyber, propertyThe Asia Insurance Market Pricing: 2023 Fourth Quarter report, published by Marsh, showed that cyber insurance rates were flat, while those for...Traction ahead for InsurTech in takaful and retakaful operationsIn the next 12 months, advancements in data analytics may lead to a greater emphasis on personalised and on-demand microtakaful solutions in the...How can the (re)insurance industry attract talent?The (re)insurance industry lacks young talent. There is a void at middle management and junior levels which does not bode well for future talent...Fraud in insurance - not so clear cutWhat is the propensity to commit fraud in insurance?Hong Kong: IA's goals aligned with insurance roadmapIn 2022, the Hong Kong authorities published the Development Roadmap for the Insurance Sector, with the aim of shaping the territory into a global...Australia: Unpredictable weather behind farmers' move to parametric insuranceDue to increasingly unpredictable weather phenomena in Australia, parametric insurance is emerging as a "viable option for the nation's farmers",...Singapore: Regulator to formalise expectations on underwriting for the disabledSingapore regulator MAS is set to formalise expectations for insurers to deal fairly with their customers, including persons with disabilities and...Hong Kong: Attempted insurance fraudster convictedA woman who falsely claimed that she had been seriously injured in a traffic accident and lost the ability to work, has been convicted for attempted...What could sustainability mean in insurance?What sustainability could mean in insurance was the question Swiss Re head of life and health, APAC ex China Daisy Ning posed at the 2023 Global...Ahead of the curve in generative AIGenerative AI, as a technology, caught many people off-guard with its power and flexibility. With the entire world scrambling to take full advantage...Vietnam: Supervision of insurers increasing, but still no clear framework for InsurTechsIn early 2023, the prime minister of Vietnam's Decision 07/QD-TTg was issued, approving the strategy to develop the insurance market in the country...Life insurers repositioning in AsiaThe Deloitte Insurance Outlook 2024 indicated that many life insurers are repositioning in order to drive sustained and predictable growth.APAC: Top risk for D&O now health and safetyHealth and safety (84%) overtook cyber attack, including cyber extortion (69%), as the top risk for directors and officers (D&O) in APAC this year,...Insurers in Singapore and Hong Kong look to increased regulations to reduce riskIn 2023, the Monetary Authority of Singapore (MAS) named four 'domestic systemically important insurers' - AIA Singapore, Income Insurance,...Australia needs systemic change needed to ensure complianceWith the Prudential Standard CPS 230 coming into effect on 1 July 2025, Xceedance business leader - key accounts in Australia Prateek Vijayvergia...Japan 2024 earthquake could cost insurance industry $1.9bnInsurance industry organisation, CRESTA, which provides a global standard for risk accumulation zones and natural catastrophe industry losses, has...Amendments to Vietnam law ensures insurer financial sustainabilityIn 2022, the Law on Insurance Businesses No 08/2022/QH15 came into effect, following the commitment agreed upon in the EU-Vietnam Free Trade...Hong Kong: ILS traction continues with successful first conferenceHong Kong's Insurance Authority (IA) held its Insurance-linked Securities (ILS) Conference earlier in April 2024. The conference, tailored...China: Uncertain economic prospects impact insurer ratingsOut of seven insurers in China, outlooks for six were rated 'negative', according to Fitch Ratings, while t the seventh remained 'stable'. A...Hong Kong: IA finishes public consultation on draft rules for RBC regimeHong Kong's Insurance Authority (IA) published its consultation conclusions on six draft rules concerning the implementation of a risk-based capital...Japan: Inflation continues to affect insureds exposed to Nat CATAccording to the PERILS Industry Exposure Database (IED) 2024, the impact of inflation on insured exposures "continues to be visible". For instance,...Ensuring a smooth transition in digitalising and automating processesFactors such as growing amounts of data, changing customer expectations, competition from newer, non-traditional players in the insurance industry...Asia: Insurance pricing moderates as rates declinePricing of insurance is continuing to moderate as rates decline, according to Marsh's May 2024 report, Asia Insurance Market Pricing: 2024 First...India: Climate change and cyber security among top challenges facing insurersGlobal Insurance Law Connect's Risk Radar 2024 identified cyber security and Nat CAT linked to climate change and cyber security as challenges facing...APAC: 59% of F&B companies not confident about risk cause controlThe food and beverage (F&B) industry "is exposed to a widening range of disruptive forces, from droughts and natural disasters to political unrest...Korean insurance market at a crossroadsKorea's insurance market has seen a lot of growth and innovation over the past few years, but there is still work to be done to improve the...Australia: Higher life insurance premiums for younger smokers and vapersAccording to life insurer TAL's blog, "vaping is generally considered by insurers the same as smoking".Asia: Survey shows consumers prioritise physical wellbeingThe Asia Care Survey 2024, conducted by life insurer Manulife found physical wellbeing was considered the most important to respondents, with 39%....Challenges facing Malaysia's takaful industry could drive innovationCost of medical care in Malaysia is rising, Etiqa Family Takaful CEO Zafri Ab Halim said.Insurance vital to achieving net-zero goalsWithout insurance, businesses "will be unable to reach their net-zero transition goals or become resilient in the face of the changing climate",...Collaboration between insurers and fintech firmsIn a bid to provide more opportunities for insurance companies and fintech firms to co-develop innovative insurance products, the Financial...Risk managers take steps to qualify for cyber insuranceA majority (76%) of IT and cyber security leaders have invested in cyber defences to qualify for cyber insurance according to a new global survey by...Insurance programme helps in tackling heatwave conditionsA parametric insurance plan helped 46,000 women across 22 districts in India tackle the extreme heatwave conditions that swept through vast swathes...Higher rates in Taiwan to increase competitionIn recent years, the global reinsurance market has been influenced by changes in climate-related risks, rising catastrophic losses and economic...EVs to drive Indian motor insuranceThe increasing adoption of EVs in India is not only reshaping the India motor industry but also revolutionising the motor insurance segment in the...Gen Z prefer simple insurance productsThe major ASEAN economies are grappling with the challenge of boosting insurance penetration rates. As Gen Z emerges as the dominant consumer segment...Insurance brokerage for indigenous Australians launchedAn indigenous entrepreneur has launched Australia's first insurance brokerage specifically for First Nations organisations and communities. First...Shift from green financing to transition financing among APAC insurers"Over 70% of APAC insurers have already integrated ESG principles into their business models and policies or are doing so," said Income Insurance...India: First provider-owned health insurance cover launchedThe newest standalone Indian health insurer Narayana Health Insurance has unveiled its first health insurance policy, Aditi. It is India's first...Taiwan: Alcohol surcharge to fund cancer insurance and medicinesTaiwan's National Health Insurance Administration (NHIA) has proposed to fund new cancer medicines by imposing a surcharge on alcohol.Intermediary role in insuring NEVs in ChinaThe rapid development of new energy vehicle (NEV) insurance in China brings in new requirements for the country's motor insurance brokers. The...Wind power implications for insurersIn 2018, typhoons Jebi and Cimarron "toppled over several turbines in Japan", according to an article published by Swiss Re, Climate Change and Wind...APAC property insurance market to achieve double digit growth over the next five yearsThe property insurance market in the Asia-Pacific (APAC) region is projected to grow at a compound annual growth rate (CAGR) of 10.8%. The property...IT outage could hit APAC insurers hardThe failed CrowdStrike update that caused mayhem for the computer systems of many corporates in Asia Pacific could see insurers in the region faced...Life insurers could make better use of virtual agentsWhen it comes to capital optimisation, Aon strategy and technology group global CEO Sherif Zakhary said, each insurer would have "a different...Aviation: Loss adjusting must evolve alongside riskAccording to Charles Taylor managing director, Asia Pacific - aviation Bob Battoo, loss adjusters in Asia will need to "closely monitor" a number of...Prudence Foundation partners WBD to decode complex issues on climate and healthPrudence Foundation, the community investment arm of Prudential plc in Asia and Africa, and Warner Bros. Discovery in Asia Pacific (WBD), are...Australia: Climate change set to further complicate business risk landscapeIncreased risk from Nat CAT, as triggered by climate change, is set to complicate "an already intricate business risk landscape", according to WTW's...APAC: Life insurance business back in businessHigher interest rates have resulted in life insurance premium growth in advanced markets, according to Swiss Re's sigma report, World insurance:...Pakistan's insurance sector needs to take the digital pathA report by the Securities and Exchange Commission of Pakistan (SECP) has revealed that Pakistan's insurance sector is way behind its peers in the...Malaysia: New digital regulations support embedded insurance modelsThe Licensing and Regulatory Framework for Digital Insurers and Takaful Operators (DITO) Policy Document was released by Bank Negara Malaysia (BNM),...Changing attitudes of next generation HNWIThe attitudes of high-net-worth individuals (HNWI) have changed over the past few years, driven by economic and social changes, with many of the...How has MFRS17 has affected Malaysian insurers and takaful operators?When asked how MFRS17 has affected Malaysian insurers and takaful operators since its implementation, Christopher & Lee Ong partner Chelsea Chan said...Australia: The usage and regulation of AI in insuranceAccording to Insurtech Australia CEO Simone Dossetor, AI is being explored within the insurance sector, "but with different levels of maturity".How insurance supports the maritime industryThe "dynamic nature of maritime trade makes speed and service particularly important", according to Markel senior underwriter - marine Wanshi Lin.APAC: 2023 events lead to US$57.8bn economic losses, with US$12bn insuredIn 2023, there were 85 combined Nat CAT and manmade disasters in Asia, according to Swiss Re's sigma report, Natural catastrophes in 2023: Gearing up...Australian life industry body promotes women in risk managementAustralia's Council of Australian Life Insurers (CALI) has opened applications for its annual ReCALIbrate programme aimed at supporting female risk...India's first insurance policy in braille launchedIndian health insurer, Star Health Insurance, has launched an industry-first braille version insurance policy tailored for individuals with 40% or...India: Task force set up to tackle challenges of surety bondsInsurance Regulatory and Development Authority of India (IRDAI) has set up a task force to solve the bottlenecks and drive the growth of surety bond...India: Festival celebrations bring bonanza for insurersThe season of festivals in India for the year that began with Krishna Jayanti celebrations on 25 August 2024 will also bring a short-term bonanza for...Familiar circumstances require vigilance, resilienceThe circumstances are all too familiar: a mutating virus that can spread from animals to humans, a threat amplified by a globalised world, has...Nepal: Insurers file suit seeking recovery of COVID-19 claims duesNepal Insurers' Association (NIA) has filed a writ petition against the government in the country's supreme court for not settling the payments due...Indonesia: Changes ahead for health (re)insurance marketIn Indonesia's (re)insurance market, health protection products will "experience adjustments in both premium pricing and terms and conditions (T&C)...APAC: Flooding remains a top recurring threatAccording to Aon's 2024 Climate and Catastrophe Insight, total economic losses in APAC hit $65bn in 2023. Of the total, only $6bn (9%) were insured...Corporate India shifts focus to preventive care and wellnessA new report on employee benefits in corporate India reveals that mental wellness is today a critical area of employee wellbeing programmes across...DEI a driver of the insurance industryOne of the things clients expect when working with insurance brokers such are diverse teams "that collaborate and work well together", according to...Despite growth of cyber insurance, protection gap persistsMany businesses "perceive an increasing sense of cyber vulnerability", as technology innovations continue to drive digitalisation, according to the...South Korean insurers and government should collaborate on mental healthEven as South Korea grapples with an ageing population, there has been a significant increase in the number of Koreans suffering from mental health...India: GenZ and millennials drive 85% of insurance salesYounger generations are increasingly coming into insurance distribution networks in India according to a new survey by Turtlemint. The survey found...Insurance fraud continues to riseA new survey has revealed that fraud remains a top concern for insurers globally and the number of fraud cases is either holding steady or increasing...Australia: Building on floodplains continues despite repeated concernsEven as the Insurance Council of Australia (ICA) renewed its calls to stop building on floodplains, housing projects on floodplains continue to be...SEADRIF Insurance supports Laos after typhoon Yagi floodsThe SEADRIF Insurance Company has made a payout of $750,000 following the passage of typhoon Yagi which devastated eight provinces in Lao PDR,...An international hub for innovationThis year's Asian Actuarial Conference (AAC), to be held in Hong Kong from 22 to 25 October, will have the theme of 'Innovation, International Hubs...Generative AI can be a catalyst for life insurersLife insurers are ready to leverage generative AI to innovate their policyholders' experience and optimise operations according to new research by...How reinsurers can manage climate riskAccording to Central Re executive vice president Terry Ho, the challenges of climate risk in Asian markets "are quite different from those seen in...Specialty reinsurance: a hairy spaceThe reinsurance and insurance markets today are characterised by a lot of instability and a lot of change, said Swiss Re chief underwriting officer...APAC: Insured losses for Nat CAT less than US$12bn to total top three events US$46.1bnGlobally, economic losses due to Nat CAT in the first three quarters of 2024 were estimated to be $258bn, approximately 7% lower than the mean at...Operational challenges insurers may face when digitally transformingDigital transformation is no longer an option, but a "necessity to survive and thrive", according to EY Partner Bernadeth Saoria Gultom at the 28th...Singapore: Platform workers, Gen Zs face larger protection gapsThe Protection Gap Study 2022, published by the Life Insurance Association Singapore (LIA) in 2023 enhanced understanding of challenges faced by...Life insurers need to match expectations of talent with AI adoptionThe life insurance industry is "undergoing a profound transformation driven by an unpredictable world and the rapid evolution of intelligent...Insurer bats for sustainability and green ecosystemZurich Insurance (Hong Kong) is focusing on creating a sustainable ecosystem and promoting eco-friendly practices and healthier lifestyles within the...How financial institutions can address deepfakesAccording to the report titled "Deepfakes in the Financial Sector: Understanding the Threats, Managing the Risks", published by the Financial...Inflation may have less impact on insurers in the futureWhen asked what some common concerns clients had raised this year, Markel managing director APAC Christian Stobbs pointed to continued geopolitical...Captives, ILS and alternative risk transfer for Asian reinsurersWhen asked what he expected to see in 2025, UIB Asia CEO Francis Savari first indicated that because the growth momentum in Asia would continue on a...Reinsurers are trusted to find solutions for difficult issuesWhen asked what role innovation could play in maintaining competitiveness in the reinsurance industry, Everest Re CEO, APAC Kevin Bogardus was keen...Voluntary DEI code can tackle issue of talent in pipelineIn 2024, the CFA Institute and CFA Society Singapore launched the voluntary Diversity, Equity, and Inclusion Code in Singapore (DEI code Singapore)....Four risks trends shaping the industryAs risks continue to evolve, risk experts around the world have to reassess the importance of existing and emerging risks constantly. We spoke to...Costlier weather events increasingly linked to climate changeTyphoon Yagi was the costliest in Asia this year, according to Munich Re's 'Hurricane/Typhoon Season Summary.Personal P&C and life lines evolve with ageing demographicThe number of people aged 65 and over is expected to hit 1.6bn in 2050, with Asia leading the trend, according to the World Economic Forum.The backbone of an organisationPeople are the cornerstone of any organisation, serving as its pillar and backbone. At Allianz Asia Pacific, we place our people at the centre of...Nat CAT in Asia ranked among top 5 disasters by overall lossesGlobal insured losses due to Nat CAT is on the rise, according to Munich Re's NatCatSERVICE January 2025 report, "Natural disasters in 2024". The...Insurers must utilise better risk managementThe changing middle class and effects of climate change are forcing the insurance industry into a constant state of transformation, said NEC Asia...AI regulation deadlock amplifies insurance risksThe 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...Climate risk impacts on insurer asset management strategiesClimate risk "is systematic, with global effects", according to Ortec Finance investment solutions director Saiyan Raja.Asia: Insurance rates fall 4 quarters in a rowComposite insurance rates in Asia dropped by 3% in 4Q2024, as compared to 4% in 3Q2024, according to Marsh's "Asia Insurance Market Rates: 2024...Geopolitical instability expected to mark 2025 for insurers2025 stands out for the insurance industry because of the sheer number of substantive changes in policy and government priorities that domestic and...Two-thirds of employees in the Philippines considering job change in 2025Aon has released findings from its 2025 Human Capital Employee Sentiment Study.Health insurance on the rise in Hong Kong, while Singapore battles escalating medical costsA recent survey by MDRi, conducted among 1,000 respondents across Hong Kong and Singapore, has shed light on the diverse health and medical insurance...Australia: Climate change increases heatwave mortality, putting cities at enhanced riskHuman 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...Singapore: An increase in mental health literacy reduces public stigmaMental health literacy in Singapore has improved with more people being able to correctly identify common mental health conditions. Stigma or...India: Uninsured vehicles are a major safety and financial concernIndia's motor insurance sector has witnessed remarkable growth, yet a significant challenge remains: there is a large number of uninsured vehicles on...ILS market grows from strength to strengthThe insurance-linked securities (ILS) market has reached new heights, with capacity hitting a record $107bn by the close of 2024. AM Best ILS...Global: The 'longevity revolution' opens up innovation opportunities for insurersIncreasing longevity and falling fertility mean the world is facing a new demographic reality - a growing elderly population with fewer working-age...Australia: About a third of life insurers ready to implement AIA study by Equisoft and LIMRA in collaboration with Universal Conversion Technologies, 'Assessing Data Readiness for AI in the Life Insurance...Asia: Family takaful to play a role in passing down wealth in the futureThe government, takaful operators and distributors play an important role in the ecosystem to grow the takaful market in Malaysia, according to...Women's financial security is still a work in progressAcross Asia, women feel their financial security has improved compared to previous generations, with 65% saying their finances have improved relative...Transparency over hype -- APAC asset managers must back ESG claims with dataThe rise in ESG investing has increased concern over businesses overstating the sustainable credentials of their products and services without a...Australia: Insurers float "flood defence" big idea to combat a big problemThe Insurance Council of Australia (ICA) has called for a comprehensive range of initiatives that will protect hundreds of thousands of Australians...India: Proposed fraud prevention guidelines more exhaustive and evolvedThe IRDAI is working on guidelines for a comprehensive insurance fraud monitoring framework for the insurance sector to identify, assess, and...Asia Pacific: Despite initiatives to include women, barriers remainAs the insurance landscape shifts with advancements in technology, evolving client demands, AI innovation and sustainability, the inclusion of...Singapore employees name the employment benefits they value the most beyond a salaryWith the high cost of living and a strong emphasis on work-life balance, employees in Singapore expect comprehensive benefits beyond just salary.Insurers wary of cyber insurance concernsThe rapid growth of cyber insurance has prompted insurers to be cautious about overexposing themselves to high-risk areas.India: Several factors favour growth of non-life insurance sector over medium termIndia's non-life insurance premium growth is expected to be bolstered over the medium term by the country's economic development, rising insurance...The risk and rewards of AI use in constructionWith the advent of AI tools, the construction sector has a transformative opportunity to extract valuable insights, patterns, trends and actionable...Singapore companies embrace AI for growth, eye higher ROI and innovationNew research commissioned by IBM found that Singapore companies view AI as a promising opportunity, with increasing interest in investing to boost...Asia Pacific insurance execs least likely to view closing protection gap as ethical obligationMore 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...Asset-intensive reinsurance solutions gain interest in AsiaInterest in asset-intensive reinsurance as a solution is broadening across Asia, Aon's strategic growth leader for Life and Health Reinsurance...Growing affluence in Asia drives demand for retirement and wealth solutionsThere are rising levels of affluence that continue to be relevant across markets that Singapore-headquartered Great Eastern operates in, according to...Insurance carrier M&A activity down in APACGlobal 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...Standing still in the use of AI ruled out as an option for insurersAI 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...Natural resources companies run into hurdles when seeking suitable insuranceEnergy and natural resources companies have said that they face challenges getting the right insurance, according to Willis' "Global Clean Energy...More than half of Aussies pay out-of-pocket for pet desexingThe 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...Asia and the Pacific chalk up highest microinsurance coverage rateMicroinsurance carriers achieved the "highest rates of penetration among low- and middle-income populations in Asia and the Pacific, according to the...Asia Pacific: Business insolvencies to increase by +5% in 2025 and +6% in 2026Insolvencies in Asia Pacific are anticipated to increase by +5% in 2025 (+1% without China) followed by +6% in 2026 (-4% without China), according to...South & Southern Asia: Cities are turning overwhelmingly flood-proneSouth 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...Global: Report outlines risks in trading with connector countriesOrganisations that trade with counterparts in connector countries -- such as Vietnam, Mexico, South Korea and Hungary -- to circumvent existing or...Australia: Car theft claims rise in some partsMotor theft claims are increasing significantly in some parts of Australia according to a new survey report released by the Insurance Council of...SMEs in HK and Singapore lack insurance despite concerns over business risksSurvey results published QBE show that executives and decision makers in SMEs in Hong Kong and Singapore harbour concerns about a wide range of...Attention to workplace safety in SMEs in different directions in HK and SingaporeSurvey 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.Higher proportion of SME execs view talent as vital business challengeAs the battle for top talent intensifies, SMEs in Hong Kong and Singapore are placing more emphasis on recruitment, training and retention. In both...Malaysia: Survey exposes financial legacy planning gapA 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...Global: Top Four European reinsurers' 2024 financial results stand them in good stead in 2025Following a second consecutive year of robust financial performance in 2024, Europe's four largest reinsurers are well positioned to navigate...More moderate premium increases seen for many risks as insurance market softensIn 4Q2024, insurance markets began to show signs of softening with "more moderate premium increases being applied to many risks", according to...Australia: Government plays vital role in promoting private health insuranceGovernment initiatives and assistance have been central to the improved state of the Australian health insurance sector over the past 25 years,...Slashing of USAID funds hits microinsurance projects across the globeThe recent reduction in the United States Agency for International Development's (USAID) budget has led to several projects being cancelled...India: Less than 1% of health insurance claims in India are for mental health issuesIndian employees are silently battling a mental health crisis, with limited access to affordable treatment due to gaps in insurance coverage,...More than 80% of Indians underestimate their life cover needsMore 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...Asia Pacific: Increased capacity creates facultative reinsurance opportunitiesWhile conditions vary greatly by geography, healthy levels of capacity are making facultative reinsurance a more effective and attractive tool for...Global: Strategic asset allocation adjustments as inflation concerns returnAmid a changing geopolitical landscape, the majority of insurers (52%) in a poll are very concerned about the impact of inflation on their portfolios...Asia Pacific: 1 April renewal season grants reprieve to reinsurance buyersA moderation in Japanese property-catastrophe reinsurance market pricing was observed at 1 April, according to Howden Re. The global insurance...Global specialty classes in focus at 1 April renewalsThe 1 April reinsurance renewal season saw mixed outcomes due to continued uncertainty around war-related losses and macro volatility.Singapore: AI readiness gap exposedLess than a third (27%) of respondents in Singapore report high readiness from a data perspective to adapt, deploy, and fully leverage AI...Indonesia: General insurers and UNDP launch agricultural insurance roadmapThe UNDP with the General Insurance Association of Indonesia (AAUI) has launched the Agricultural Insurance Roadmap 2025-2030 to improve risk...Japan: Tokio Marine rebrands healthcare unit with new platform serviceTokio Marine Holdings will change the name of Tokio Marine Healthcare Business Establishment Preparatory Company, which was established as a wholly...Asia and Oceania projected to increase bite of global cyber premiums over next 5 yearsAsia and Oceania are expected to increase their share of global cyber premiums to 8% by 2027 from 6.8% in 2024, according to a new report by global...Japan: Feared megaquake could cause 300,000 fatalities and damages of over US$1.8tnThere is an 80% probability of a magnitude 8 to 9 earthquake along a tremulous seabed zone known as the Nankai Trough, according to a report issued...Guide released to aid maritime administrations to heighten maritime awareness and identify ships in the dark fleetIt would be in the interests of governments to collaborate with companies to develop capabilities, including computer platforms, to enable maritime...Asia: Japan ranks tops in insurance availability, accessibility and affordabilityJapan is the top-ranked country in Asia, based on Swiss Re's metrics for availability, accessibility and affordability of health insurance in Asia,...Insurer in partnership with global initiative unveils report on nature-related risksAXA XL, the P&C and specialty risk division of AXA, has launched a new report to help the risk management community identify, assess and mitigate...Climate change: China and India lead the drive for clean powerChina and India are shifting towards meeting their growing electricity needs with clean energy. These are the two countries at the forefront of the...Survey finds 82.9% of Aussie air passengers buy travel insuranceWhile 82.9% of Australian air passengers do buy travel insurance, 43.9% did not lodge claims for lost bags, according to the findings of a survey...Asia: Insurers and real estate sector eye win-win with sustainability-linked insuranceAsia's real estate and insurance sectors are grappling with substantial financial risks, while also encountering new opportunities, as climate change...Asia: Construction sector faces growth pressures but drives insurance marketIn Asia, the construction industry is set to experience continued growth this year because of both government stimulus and private investments.Prospects bright for digital health underwritingA promising area in insurance is digital health underwriting, where insurers use electronic health records - increasingly adopted across APAC - to...Asia sees record above-average Nat CAT loss costs in 1Q2025The first quarter of 2025 brought a series of devastating natural disasters across the globe and Asia was not spared from their destructive impact.Nepal sets ambitious target for health insurance for next 5 yearsThe Nepalese government has set a target to increase the renewal of health insurance policies to 90% in the next five years to 2030.Asia: Lots of room for lifers to close savings and retirement gapInsurers must be aware of financial market trends, particularly, recently, when the need to understand and act on these trends has grown more urgent...Australia: Tropical cyclone Alfred causes initial industry loss estimate of US$1.67bnCatastrophe insurance data provider PERILS has disclosed that its initial industry loss estimate for tropical cyclone Alfred is A$2.59bn ($1.67bn).IAIS publishes comprehensive application paper on climate risk managementThe International Association of Insurance Supervisors (IAIS) has published its application paper on the supervision of climate-related risks in the...Asian corporation among 10 fossil fuel giants worldwide cited for trillions in climate damageTen (10) fossil fuel companies caused more than $14tn of climate damage from 1991 to 2020, according to a study by a team at Dartmouth College, a...Indonesia: Reinsurance underwriters' profiles reflect changes in market dynamicsMany factors influence the dynamics in Indonesia's broker-driven (re) insurance sector, according to UIB Asia Reinsurance Brokers CEO Francis Savari.China: AI model can trigger alert about rare diseasesA new large AI model with inputs of data relating to certain specific symptoms of patients, can generate alerts about potential rare genetic...Insurance coverage fails to keep up with growing climate-related lossesCordinated action is urgently needed against the rising threats posed by extreme weather and natural catastrophes, says Zurich Insurance Group...Responsibility falls on insurers to explain use of AIRegulators in different parts of the world have very different thoughts and approaches to AI, McKinsey & Company senior partner Violet Chung...Three megatrends challenge insurance industryThe insurance industry is caught up in the middle of three megatrends -- climate change, the digital revolution and globalisation, said JBBoda Viva...Singapore: 39% of residents polled see insurance as an investment toolNearly two fifths (39%) of respondents to a survey in Singapore said that they viewed insurance as an investment tool to achieve financial...Global: Cyber fraud prevention framework released for insurers and other FIsTo help financial firms prevent fraud attempts on their companies and customers, US-headquartered FS-ISAC, which advances cyber security and...Aussie drivers can save on motor insurance premiums by planning aheadAustralian drivers may be spending more on motor insurance than they necessarily need to, due to what has been called a 'convenience catch',...Automation: Asia's P&C sector's response to aging populationInsurers should deploy automation and Gen AI to compensate for expertise shortages and to drive efficiencies as populations age and mobility patterns...India is bright spot in global insurance market, says AIG chiefAIG chairman and CEO Peter Zaffino has pointed to the significant potential of India's rapidly expanding insurance market as a reason for optimism.Tech removes medical examinations, paper forms from underwriting systemOnline health insurer Bowtie Life has developed Hong Kong's first fully online medical underwriting system, designed to instantly evaluate...Singapore: White paper calls on financial institutions to act on risks to nature in their operationsFinancial institutions should proactively incorporate nature in their approach to financing, says a white paper titled "Financing Our Natural...Aussies could be sitting on savings for motor insuranceNearly one in five (17%) of Australians have remained loyal to the same car insurance provider for more than 10 years,according to the results of a...China implements integrated monitoring system to tackle geological disastersA new integrated air, space and ground monitoring system to better detect and prevent major geological disasters has been rolled out by China.Over 85% of Indians intend to buy travel insurance for their next tripAn overwhelming 85% of Indians intending to travel abroad are likely to purchase travel insurance for their next trip, but this is more skewed...South Korea: 5 top players to acquire assets & debts of beleaguered non-life insurer to help policyholdersSouth Korea's financial regulator, the Financial Services Commission (FSC), has said that financially troubled MG Non-Life Insurance Co's policy...Asia Pacific: Wildfires and floods lead to billions in economic losses, says AonThe APAC region, particularly in South Korea and Japan, experienced significant wildfires, floods and earthquakes in the first quarter of 2025...Australia: Porch thieves steal delivered packages of one in three AussiesParcel theft, otherwise known as 'porch piracy' is an increasing concern among Australians, especially during peak seasons like Black Friday and...Japan: Govt to cover childbirth costs fully wef April 2026To address the country's rapidly declining birthrate Japan's health ministry is all set to eliminate out-of-pocket payments associated with child...Japan: High costs deter 92% of Japanese from travel this yearNearly two-thirds (62%) of respondents to a new survey in Japan do not plan to travel this year, with 92% citing a lack of money or high costs as the...Biggest reinsurer proposes building Indonesia into international reinsurance hubState-owned Reasuransi Indonesia Utama (Indonesia Re), the largest reinsurer in Indonesia, has highlighted the importance of strengthening the...Asia Pacific: Regional CROs face tech, regulatory and ageing demographic pressuresThe risk landscape for APAC insurance chief risk officers (CROs) has never been so complex, with the geopolitical and regulatory environments and new...Asia Pacific: Ageing population poses new risk landscapeAgeing societies are commanding the attention of chief risk officers (CROs) in the Asia-Pacific, according to EY Asia-Pacific Consulting insurance...Philippines: Insurance industry's total net income jumps by 7% in 1Q2025The total net income of the Philippine insurance industry grew to PHP15.30bn (276.6m) for the first three months of this year, 7.1% higher than the ...Cambodia: Insurance market driven by non-life business in 1QTotal gross premiums generated in the insurance industry in Cambodia grew by 6% to $102.3m in 1Q2025, compared to $96.6m in the corresponding quarter...India: Traditional brokers must adapt swiftly to changing landscapeInsurance brokers in India find themselves having to navigate a rapidly transforming landscape. Increased competition is coming not only from within...Philippines: Combined net surplus of mutual benefit associations drops in Jan-Mar 2025Mutual benefit associations (MBAs) have posted a combined net surplus of PHP1.59bn ($28.67m) in 1Q2025, dropping by 25.21% from PHP2.12bn in 1Q2024,...Asia boasts strong capacity in energy insurance segmentsThe energy insurance segment in Asia continues to experience a soft market cycle which has created a favourable environment for clients in 1Q2025,...Philippines: Life insurers see 12% increase in net income in 1Q2025The Philippine life insurance sector's total net income rose by 12.22% to PHP10.83bn ($195.72m) in the first three months of this year from PHP9.65bn...India: Association works to transform role of brokers from sellers to advisorsThe Insurance Brokers' Association of India (IBAI) faces several challenges in helping its members remain relevant and profitable in the evolving...Philippines: Non-life insurance sector shows strong performance in 1QThe Philippine non-life insurance sector performed well in the first quarter of 2025, marking a recovery from the downturn experienced in 2024, said...Thailand: Prudential's key to growing market sharePrudential Thailand's shift towards high-margin, needs-based products that are less sensitive to interest rates, has helped the company to protect...World Tobacco Day: Indian insurance experts outline how they deal with smoking riskIndia has around 267m tobacco users, making it the second-largest tobacco consumer market globally, according to the World Health Organization's...Shipping: Risks are emerging in new ways including suspected sabotageGeopolitical tensions are playing out in new and novel ways for the shipping industry, which is already juggling the energy transition and the legacy...Insurers look for ESG transparency for investment portfoliosInsurers seek transparency in ESG practices in their investment operations, with some desiring assessments of their efforts to reach their net zero...How insurers can circumvent the impact of tariffsThe question of how insurance policies may be impacted amidst the current trade war, tariffs and the effect on supply chains was one hot topic at the...Asia: Underwriters strive to counter AI-fuelled surge in cyber risks in a soft marketIn APAC, there are 40% more cyber attacks on businesses per week than the global average, making the region a very target-rich environment and one...Rising healthcare costs and generational needs fuel demand for more inclusive benefitsRising healthcare costs and unmet personalisation needs are fuelling demand for more tailored and accessible employee benefits, according to the...Insurance-related tech company appeals Nasdaq delisting moveShanghai-headquartered XChange TEC, which recently acquired an insurance brokerage, has submitted an appeal to stave off delisting from Nasdaq.Sri Lanka: Optimism in life insurance upside potential prevailsThe Sri Lankan insurance sector, which has traditionally been a fragmented market, is shifting towards consolidation, Softlogic Life managing...Using technology to plug gaps in travel insuranceThe room for improvement in health insurance in the travel space is huge, according to Air Doctor founder and chief revenue officer Efrat Sagi-Ofir.To do more, (re)insurers have to look withinHow insurers can grow their health insurance business through virtual health services was one key question discussed at the InsurTech Connect Asia...India: Insurance talents prioritise leadership and formal skill recognitionIndia's insurance industry is experiencing a talent evolution with skill priorities that differentiate it from global markets. Insurance...Supply chain risk coverage levels reflect complex environmentOrganisational approaches to supply chain risks and insurance experienced bouts of "consistency and notable shifts" between 2023 and 2025, said WTW's...Taiwan: Currency risk remains significant for largest life insurerJumps in hedging costs, sharp currency rate fluctuations, and new regulatory proposals regarding FX risk management are developments that need...Cyber and material shortages outrank inflation in supply chain risk perceptionsThere has been a notable shift in the landscape of supply chain risks, according to a 2025 survey conducted by WTW. As businesses faced increasing...Vietnam: Govt's private-sector strategy boosts outlook for insurance sectorVietnam has affirmed the private sector as the most crucial engine of the national economy, opening up opportunities for the insurance market among...APAC: Balancing trust and efficiency in life insurance with AIAs economic volatility rises and margins come under pressure across APAC, life insurers are reassessing their operating models. Boardroom...China: Unified health insurance system has improved mental health among rural residentsNew research-based evidence has emerged that shows that China's urban-rural health insurance integration has had a positive impact on the mental...India: Government may stick to the current agent-insurer tie-up arrangementThe Indian government may not go ahead with its proposal to allow insurance agents to tie up with more than one insurer in each of the three...Asian companies expect payment behaviours to worsen in 2025, says new surveyCredit insurer Coface's 1Q2025 Asia payment survey reveals that businesses across Asia, facing economic uncertainty, are bracing for longer customer...Global campaign says insurance industry under intensifying strain from climate shocksEscalating climate shocks are deepening an insurance crisis that threatens both social resilience and financial stability-shifting unaffordable risks...Inflation is a many-sided variable that insurers find difficult to predictInflation has a multifaceted impact on insurers and consumers, QBE Asia CEO Rob Kosova said in an exclusive interview.Asia: QBE's strategies for winning the war for talentPeople and culture are part of QBE Asia's strategic priorities, the company's CEO Rob Kosova said, outlining how it plans to continue to attract and...Asia: QBE aims to develop the value of the wholesale marketPart of the strategy refresh in QBE Asia has included a renewed emphasis on wholesale markets and a change in the company's leadership in Vietnam, ...Adapting to ageing: the insurance industry's next big testAs populations across Asia continue to age rapidly-particularly in markets like Hong Kong, Singapore, Japan, Korea and even in mainland China-the...Asia: Showing heart in insuranceMost people who work in insurance do so because they care about people, according to QBE Asia CEO Rob Kosova.Global: Net-Zero Asset Owner Alliance calls for urgent action to tackle deforestationInvestors are encouraged to evaluate their portfolio exposure to deforestation and linked human rights abuses, phase out deforestation and forest...Singapore: SMEs need to act on cyber security as a business priorityMitigating cyber risk requires a mindset shift from viewing cyber security as an IT issue to seeing it as a critical business priority, according to ...Singapore: SMEs cocooned in a false sense of cyber securityMany small- and medium-sized enterprises (SMEs) shield themselves through a false sense of security from the reality of cyber risk, Etiqa Insurance...Australia: Rising house prices and climate risks create dual housing riskAustralia is seeing an emerging dual crisis of growing housing inequity. Rising prices relative to wages in metropolitan areas are creating...Singapore: The paradox of AI in increasing productivity and enabling cyber threatsThe Singapore cyber insurance market has seen some sharp shifts over the past year, said MSIG Singapore senior vice president (technical services)...New Zealand: Community links are as important to residential security as alarm systemsNeighbourhood connections may be the answer to combatting residential petty crime, a new survey commissioned by AMI Insurance found.Singapore: People, processes and technology need to be addressed in combatting cyber riskBusinesses should take a holistic approach by addressing people, processes and technology within their organisations, to mitigate effectively cyber...Medical Inflation: Can insurers keep pace with rising costs and consumer expectations?One pressing reality that continues to affect all of us is medical inflation.Singapore: Consumers prioritise quality of years lived over longer lifespanDespite retirement aspirations that included living with enjoyment, meaning and financial independence, which were revealed to be more valued than...Parametric insurance enters vulnerable viticulture landscapeAustralia is ranked among the world's top eight wine-producing countries, and contributes more than A$45bn ($29.4bn) annually to the national economy.Australia: Industry loss estimate for tropical cyclone Alfred lowered by 12%The latest industry loss estimate for tropical cyclone Alfred, which affected the states of Queensland and New South Wales in Australia is A$2.25bn...IAIS releases final version of its application paper on the supervision of AIAs the adoption of artificial intelligence (AI) systems accelerates globally, the International Association of Insurance Supervisors (IAIS) released...Australia: Regulator warns public about risky superannuation switchesThe Australian Securities and Investments Commission (ASIC) has warned the public to stay away from pushy sales tactics that recommend quick...'TikTok generation' redefining life and health insurance expectationsToday's insurance consumers are not only seeking more personalised and accessible insurance products, but they are also prioritising transparency and...Asia-Pacific: Life insurance profitability forecast to be stableAsia-Pacific life profitability outlook remains stable, though foreign exchange hedging costs may weigh on margins in Japan, says Swiss Re Institute...The energy consumption of AI and (re)insurers' decarbonisation opportunityThere is no doubt that artificial intelligence is taking the world by storm and disrupting markets. Insurers are increasingly tapping into its...Asia: Insurers remain highly technical amid surge in renewable energy projectsAsia continues to lead global renewable energy growth, fuelled by rising energy demand, ambitious net zero targets and the increasing...International InsurTech spells out the raison d'être of AI in insuranceWhile AI can transform how insurers serve customers, it should never be used just for the sake of it, bolttech CEO APAC Philip Weiner says.Asia: M&A-related claims on the rise in the regionAlthough claims frequency in Asia for merger and acquisition (M&A) deals are still lower, as compared to more mature regions, there has been a steady...APAC: InsurTech companies' prospects huge in emerging risk arenaProtection gaps are widening particularly in cyber, climate change, ageing populations and urban mobility, according to bolttech CEO APAC Philip...Taiwan: Insurer aims to capitalise on smart applicationsCathay Century Insurance has plans to transform policyholder experience, including building a smart platform where backend agents will gain real-time...Singapore: Insurers' underwriting discipline contributes to cyber resilience of businessesInsurers increasingly require evidence of robust cyber risk management as part of underwriting and are incentivising businesses to implement best...Australia & New Zealand: 1 in 5 W&I policies receive a claimA high incidence of disclosure-related breaches as well as a consistent relatively high frequency of claims in smaller transactions have been...APAC: M&A rising, and W&I insurance is part of the upward trendThe volume and value of merger and acquisition (M&A) transactions across Asia rose in 2024, after M&A activity fell in 2023, according to Aon in a...APAC: Rising competition among cyber insurersThe Asia Pacific (APAC) region is seeing significant competition among many international insurers and the increasing numbers of cyber insurance...Insurance can be a vehicle for HNW ESG philanthropyThe integration of charitable giving, as well as environmental, social and governance (ESG) considerations into wealth management is a rapidly...Vietnam: Techcombank receives green light to form life insurance ventureThe Ministry of Finance has granted approval to Vietnam Technological and Commercial Joint Stock Bank (Techcombank), a publicly listed bank, to...Indonesia: Consolidation looms for reinsurance marketDiscussions are underway among stakeholders in the reinsurance sector to develop a plan for the consolidation of state-owned reinsurers in Indonesia.Technology complements humans by creating capacityThe human touch is essential to help generate confidence in insurers among customers, especially during the claims process when policyholders are at...Indonesia: All but one reinsurer has met 2026 minimum capital targetEight out of the nine reinsurance companies established in Indonesia have met the first phase of minimum capital requirements (MCR) for 2026,...Rapid innovation in marine insurance opens door for InsurTechThe marine insurance sector, traditionally known for being conservative, has undergone rapid innovation driven by recent geopolitical events, the...Vietnam: New decree on investment-linked policies helps customers make choicesInsurers have been selling new products that separate death and permanent total disability benefits from supplementary benefits in investment-linked...Indonesia: Insurance industry's growth rate slows in 1H2025Premium income in the Indonesian insurance market inched up by 0.65% year-on-year (yoy) to IDR166.26tn ($10.15bn) in the first half of 2025,...Ageing Asia needs to step up financial planningMany people in Asia continue to struggle with long-term financial planning, according to Sun Life Asia chief client and distribution officer David...Asia: Insurance rates decline across major product lines in 2Q2025Insurance rates in Asia fell by 5% in the second quarter of this year, according to Marsh's latest Global Insurance Market Index. The pace of decline...Taiwan: Life insurers's combined pre-tax net results rebound in June 2025Insurance companies in Taiwan posted a combined pre-tax profit of NT$19.4bn ($648.6m) in the first half of this year, according to data released by...Vietnam: Life insurance sector shows recovery, growing by 2% in 1HThe life insurance market in Vietnam showed positive signals in the first half of this year, with total life insurance premium revenue estimated at...APAC: Myanmar's earthquake dominates Nat CAT losses in the regionThe 7.7-magnitude earthquake that struck Myanmar in March 2025 has caused estimated economic losses of $12bn, according to Munich Re NatCatSERVICE's...Asia: Agentic AI set to transform bancassuranceAI adoption is well underway in Asian bancassurance, but the transition to agentic AI, where AI actively performs tasks autonomously, is just...Pakistan: Proposal raised to galvanise underdeveloped private health insurance marketThe retail health insurance market in Pakistan is disadvantaged and underserved, according to a report released by the Securities and Exchange...APAC: Insurers remain profitable despite jump in cyber claims in 2024APAC is experiencing significant growth in cyber claims notifications, driven by the rising frequency and sophistication of cyber incidents, says...Pakistan: Integrated healthcare exchange system mooted with focus on funding by insurersThere is a pressing need for healthcare sector transformation, given issues and bottlenecks in the delivery of healthcare services, with a special...Asia: Competitive trends continue in 2Q2025, enabling more favourable risk transfer solutions for clientsTrends in the Asian insurance market observed earlier in the year have continued unabated into the second quarter of 2025. Clients still benefitted...Taiwan: Central Re's domestic market share dips on changes in market mixCentral Reinsurance Corporation (Central Re) has encountered a modest decline in domestic market share in recent years, given that its portfolio has...Asia: 2Q2025 conditions seen as moderate in auto insurance but soft in several other branchesConditions in the automobile insurance market are moderate overall, although insurer appetite continues to be shaped by loss trends, according to the...Australia: Extreme weather impacts traditional viticulture coverageThe rising frequency and severity of extreme weather events over the past decade, driven largely by climate change, have led insurers to withdraw or...Cyber: Report identifies some strategies that mitigate malware risk significantlyPatch management, network segmentation and maintaining up-to-date data backups have been identified as the most effective mitigation strategies that...Technology helps insurers streamline wealth planning for HNW clientsTechnology plays a critical role in service delivery and experiences for high-net-worth (HNW) clients, HSBC Life Singapore CEO Harpreet Bindra has...Asia: Insurers have role to play to mitigate risks of ageing populationMany countries across Asia have a significant proportion of people aged 65 or over, according to QBE Asia's report, titled "Managing the Risks of an...Thailand: Insurance regulator contributes to promoting sustainable tourismThe Office of Insurance Commission (OIC), the insurance regulator, is playing its part to help promote Thailand as a tourism destination, by...Taiwan: Regulator encourages insurers to set up contact-person mechanism to protect the vulnerableThe Financial Supervisory Commission (FSC) is encouraging the insurance industry to establish a 'designated contact person' mechanism for insurance...Pakistan: SECP chairman calls for coordinated govt support to address insurance industry constraintsThe underperformance of Pakistan's insurance industry is symptomatic of deeper structural constraints that continue to hinder the sector from...Singapore: Actuaries hold the key to clarity in a world unsettled by uncertaintyActuaries can bring clarity to a world where uncertainty and unpredictability are "through the roof", said Singapore Actuarial Society council member...Singapore: Senior actuaries have a 'leg up' in AI; junior actuaries must train differentlyIt is not too late for senior actuaries to learn to use AI and the technology is unlikely to derail their careers, Uber Technologies vice president...Malaysia: Fast-tracking claims and empowering customers through technology give insurers an edgeSpeed and efficiency are critical when processing claims because the claim period represents a stressful time for policyholders and certificate...Australia: Road fatality rate highest in 15 yearsA total of 1,340 people died on Australian roads in the 12 months to 31 July 2025, according to the Australian Automobile Association (AAA). This...Malaysia: Medical inflation challenges L&H insurers and takaful operatorsLife and health (L&H) insurers and takaful operators in Malaysia have been grappling with mounting challenges driven by steep medical inflation,...Singapore: High cost of living tops retirement concernsThe biggest worry of Singaporeans is the high cost of living (according to 75% of respondents to a survey), followed by healthcare costs (56%) and...Singapore: Baby boomers regret delay in planning for retirementBaby Boomers (people aged 55 and above) regret not planning for retirement earlier, according to a survey -- 'SG60 Financial Future Poll' --...Half of Gen Zs optimistic about retiring well, but most lack a financial planSlightly more than half (51%) of Gen Zs are optimistic about their future in the next 60 years, and are confident they will be able to retire well...Pacific Insurance Conference returns to Korea after four decadesAfter a 40-year absence, the Pacific Insurance Conference (PIC) is making its highly anticipated return to Korea in 2025, marking a significant...Global reinsurers' capital climbs to US$805bn at mid-yearGlobal reinsurers built their capital by at 4.8% to $805bn, as of 1H2025, an increase of 4.8% versus the restated full-year 2024 base, according to...Australia: Drivers face higher wildlife collision riskThere is a need for increased driver awareness on Australia's roads, especially between dawn and dusk, because of the risk of wildlife collisions.New Zealand: Insurance market softens despite higher weather claimsThe softening insurance market in New Zealand has continued through 1H2025, according to Gallagher Insurance's "Insurance Market Update", published...Malaysia: General insurers address property underinsuranceThe earthquakes felt in both Sabah and Peninsular Malaysia in recent weeks serve as a reminder that the country is not free from seismic activity and...Australia: Thieves zoom in on the bedroom in home theftsThe bedroom is the most targeted room in home thefts, according to a survey by the price comparison platform, Compare the MarketNew Zealand: Rising number of non-contributors to retirement fund poses riskThe number of non-contributing members to KiwiSaver, a voluntary savings scheme to help New Zealanders fund their retirement, is on the rise,...Reinsurance: Nat CAT and geopolitical tensions shape upcoming renewal discussionsGeopolitical tensions, protectionist policies and shifting economics are reshaping global supply chains, raising costs, amplifying uncertainty and...Complexity of parametric insurance hinders adoptionWeather insurance for farmers can be classified into two broad categories, NTU associate professor Zhu Wenjun said at the recent Singapore Actuarial...Climate variability elevates secondary risks to first-tier hazardsThe increasing frequency of floods suggests they can no longer be viewed as a secondary risk, according to Nanyang Technological University (NTU)...Full benefits of medical intervention hard to quantifyA question addressed at the Singapore Actuarial Conference 2025 was how insurers, in pricing medical insurance plans, can work around coverage,...Paying for progress: The challenge of funding medical innovationsThe question of who should bear the costs of new medical treatments was raised during a panel discussion at the Singapore Actuarial Conference 2025,...Actuaries need more than numbers to realise ambitionParticipants at the recent Singapore Actuarial Conference discussed the qualities needed in actuaries who aspire to move into business leadership...Mismatch between life insurance and priorities of the under-40sTwo thirds (68%) of consumers under 40 see life insurance as essential for a healthy financial future; yet, current offerings are not aligned with...A reinsurer's plan to tackle APAC's ageing challenge through strategic partnershipsThe APAC region presents immense diversity, spanning East Asia, North Asia, Southeast Asia, South Asia and Oceania.Singapore: Insurers play an important role in green transitionBacked by a regulatory environment that encourages companies to practise environmental, social and governance (ESG), insurers will play an...Singapore: Consumer market trends present new opportunities to insurersConsumer demand is growing for value-driven insurance solutions that offer both affordability and personalisation, MSIG Singapore CEO Mack Eng said.Singapore: Health insurance business outstrips motorFor the first time, health insurance has overtaken motor coverage as the largest line of business in Singapore's domestic market, said MSIG Singapore...Australia: Semi-retirement is the new retirementStructural changes to Australia's labour force are "blurring what was once a sharp divide between work and retirement", according to KPMG Australia.Australia: Retirement age rises as older workers remain in workforceThe expected retirement age in Australia has moved up, driven over the long term by a growing cohort of 'ageless workers' - older Australians who are...GIEA winners highlight the importance of insurance advisersThe inaugural Global Insurance Excellence Awards (GIEA), hosted by Bajaj Allianz General Insurance, last month highlighted the critical role of...Philippines: Insurance can help families manage rising costs for childrenRaising a child is never an easy task, and the present economic climate makes the challenge especially hard, Sun Life Grepa said in a statement.Japan: Yen-denominated life policies offset decline in foreign-currency business in FY2024The premium income and other revenues of Japan's 41 life insurance companies increased slightly by 0.1% year on year to JPY43.0tn ($292.4bn) in the...Japan: Strong premium growth pushes GIAJ member insurers' net income up 103% in FY2024The 31 members of the General Insurance Association of Japan (GIAJ), in the financial year ended 31 March 2025 (FY2024) posted a combined net income...Emerging Asia: Urbanisation, digitalisation, and the gig economy redefine needs and risks of middle classUrbanisation, evolving consumption, and digitalisation are expected to shape the financial needs and risks of Emerging Asia, which insurers must...Indonesia: OJK urges insurers to refrain from dumping unprofitable risks on reinsurersThe Financial Services Authority (OJK) has urged local insurance companies not to use domestic reinsurance as a vehicle to dispose of unprofitable...India proposes a new framework for deposit insurance scheme for banksThe Reserve Bank of India (RBI) has proposed that a risk-based premium system should replace the current flat rate system for the deposit insurance...Australia: 45% turn to private cover for mental healthcareAlmost half (45%) of Australians who accessed mental health services in the past year used private health insurance, new research from Money.com.au...India mulls nationwide parametric insurance cover for climate risksIndia is exploring a countrywide parametric insurance programme for climate risks, according to a news report by Reuters.Australia ranks second globally for economic and insured losses per capita for most of the last 45 yearsNew data released by the Insurance Council of Australia (ICA) shows that Australia has consistently taken the silver medal for extreme weather losses...Singaporeans rank high in cyber awareness but nearly half still fall for phishingSingaporeans are among the most vigilant globally when it comes to cyber security, leading the Asia-Pacific region in multi-factor authentication...SCOR re-defines mobility and motor insuranceThe insurance industry is seeing a major transformation as the mobility landscape evolves, according to SCOR head of P&C product and innovation, Mr...Survey shows Aussies still taking road risksA significant proportion of Australians, polled in a recent survey, admitted to eating or drinking behind the wheel, followed by speeding over the...SCOR highlights the art of pricing ecological restoration insurancePricing insurance coverage for ecological restoration is a challenge and "super tricky", according to SCOR head of P&C product and innovation, Mr...Malaysia: Personal tax relief to be extended to life insurance premiums paid on children's policiesThe Malaysian government has proposed various incentives to encourage Malaysians to buy insurance policies.APAC: Executives in utilities sector most concerned about cyber riskManufacturing executives in the Asia Pacific region are the third most concerned about cyber risk (29%) compared to other industries, only behind...India: Regulator exhorts insurance industry to enhance cyber security awarenessThe Indian insurance regulator IRDAI has urged all entities under its oversight to promote cyber security awareness in both the public and private...Indonesia: Sovereign wealth fund plans to merge state-owned insurance entitiesThe newly-established sovereign wealth fund Danantara has plans to consolidate the state-owned insurance and reinsurance sector, the fund's managing...Specialty brokers constrained by misunderstanding and outdated frameworksGovernments and regulators have fallen short in appreciating the role of the specialty broker, according to Mr Christopher Croft , chief executive of...Bangladesh: Govt drafts ordinance to establish actuarial instituteThe government has proposed the establishment of the Actuarial Institute of Bangladesh (AIB) to develop and promote the actuarial profession in the...Cancer, heart and gastrointestinal conditions continue to drive medical trend rateThe leading medical conditions expected to influence medical cost trends in 2026 in APAC remain largely consistent with the conditions of 2025,...Asia Pacific: Employee medical plan costs stabilise after 2 yearsAon, a leading global professional services firm, has projected an 11.3% rise in Asia Pacific (APAC) employee medical plan costs, signalling...Vietnam: Banks deepen push into insurance to expand financial ecosystemsSeveral banks are moving to establish insurance companies to expand their financial ecosystems and gain a stronger foothold in the bancassurance...Indonesia: Less than 0.1% of residential homes are covered by disaster insuranceReasuransi MAIPARK Indonesia (MAIPARK) noted that the majority of residential homes in Indonesia are uninsured, according to Strategic Planning &...Asia Pacific: Insurers brace for another year of uncertainty as inflation top risks listInsurers are preparing for another year of economic uncertainty, with inflation once again emerging as a leading macroeconomic concern, according to...Indonesia: Study focuses on impact of health insurance on healthcare utilisationHealth insurance has a positive impact on increasing the utilisation of healthcare facilities, meaning that individuals with health insurance are...Malaysia: Life insurance sector's profits exceed US$1bn despite weaker equity market returnsLife insurers and takaful operators (ITOs) in Malaysia were affected by weaker equity investment performance amid uncertainty surrounding US tariffs...India: Regulator gets tough, seeks action on fraud and fraudstersThe Insurance Regulatory and Development Authority of India (IRDAI) has issued new guidelines establishing a comprehensive regulatory framework to...Thailand: Bangkok earthquake and its aftermath result in unexpected claim volumeThe number of claims in Thailand arising from a powerful magnitude-8.2 earthquake that struck central Myanmar earlier this year was higher than...Asia: Survey shows heirs lack financial management know-howWhile financial security is regarded as a cornerstone for legacy planning across the region, more than half of the respondents to a survey by Sun...Emerging Asia: Economic optimism drives higher insurance outlays among the middle classConsumers who are optimistic about economic improvement are more likely to boost their insurance spending compared to those who believe the economy...Malaysia: BNM says insurers face headwinds from market volatility, cost pressures and climate riskGlobal economic and policy uncertainties and the consequent volatile financial market conditions are expected to continue to pose a key downside risk...Malaysia: Non-life insurance sector maintains profits in 1H2025The general insurance and takaful sector's operating profits were broadly sustained at MYR1.9bn in the first half of 2025, according to Bank Negara...Pakistan: Working group outlines challenges facing annuity marketThe Securities and Exchange Commission of Pakistan (SECP) has released a report by its Annuity Working Group (AWG) that highlights key gaps in the...Pakistan: Working group calls for reforms to develop annuity marketThe Annuity Working Group (AWG), formed by the Securities and Exchange Commission of Pakistan (SECP), has proposed the development of a regulatory...APAC: As cyber risks intensify, quantum security set to be strategic priority in 2026Quantum security will emerge as a top priority for enterprises across the APAC region in 2026. More than 90% of the firms in the region are expected...APAC: Legacy models fail to keep up with climate realitiesThe conversation around flood risk in the (re)insurance industry is "shifting from response to proactivity", according to Dr Andrew Smith, COO of...Innovation and collaboration are the key to respond to natural catastrophe threatInsurers tightening policy wordings, raising premiums and, in some cases, withdrawing from high-risk regions as traditional insurance models are...Australia's safety net under pressure from rising mental ill-health and costs of livingAustralians of all ages are feeling the squeeze of rising costs, mental health pressures, and uncertainty about their financial futures, according to...Diversification will continue to drive reinsurer strategiesDiversification will continue to drive reinsurer strategies in 2026 and beyond, according to Francis Savari, CEO of UIB Asia Reinsurance Brokers.Singapore: Cost of healthcare a factor in delaying medical careEight in 10 people (83%) in Singapore said they have delayed care in the past year, according to an Economist Impact report commissioned by...Chubb Malaysia files for IPO, outlines business plansNon-life insurer, Chubb Insurance Malaysia, has filed for an initial public offering (IPO) on Bursa Malaysia to sell 300m existing shares, or 30% of...Singapore: ILPs and ethical investing drive growth amid underinsurance concernsThe life insurance industry in Singapore continues to shift due to technological innovation, evolving consumer demands for long-term protection needs...IDF outlines roadmap to tackle barriers to insurabilityThe Insurance Development Forum (IDF), a public-private partnership that aims to close insurance gaps, has released a new paper, addressing the...Cyber insurance market sees mixed signalsRanked the top risk both globally and in APAC, according to Aon's 2025 Global Risk Management Survey, cyber is an interesting line of business, said...APAC: Secondary perils drive lossesClimate risk has become "a recurring theme" in the insurance market, according to Aon's Head of Commercial Risk Solutions for APAC, Terence Williams.South Korea: FSC to expand early death benefit access to all life insurers from 2 Jan 2026All life insurers in South Korea will be able to launch products, enabling life insurance policyholders to have access to death benefits early in...Asset concentration and climate variability aggravate Nat CAT lossesLocation and the construction of valuable assets are critical determinants of loss potential, especially as the likelihood of Nat CAT increases, said...The role of insurers is shifting from claim payouts to preventionInsurers would fail to fulfil their role if they take an exclusionary approach, refusing coverage to the most vulnerable, according to French global...Asia: Demand for specialty and facultative solutions grows in the regionThere is healthy and growing demand for specialty and facultative solutions right across Asia, and it is not limited to developed markets, according...QBE Wholesale Markets Asia CEO: Talent and local expertise key to building a sustainable wholesale businessTalent is a critical factor in building a sustainable wholesale business, according to the CEO of Wholesale Markets Asia at QBE, Mr Ronak Shah.Hong Kong: Fire claims deepen P&C profitability pain but reinsurance cushions blowClaim losses from a devastating fire at a residential estate in Hong Kong will add pressure to the underwriting results of the property/casualty...Anna Kohls to take over helm from Kenrick Law as Regional CEO of Allianz Re APACAllianz SE Reinsurance has appointed Ms Anna Kohls as the new Regional CEO and Head of P&C Client Management of its reinsurance branch in Singapore,...China: Anti-graft authorities confirm probe into PICC P&C PresidentThe Central Commission for Discipline Inspection and the National Supervisory Commission have issued an official statement confirming that they have...Blending human judgment with digital intelligence: QBE's tech strategyTechnology is not an end in itself but an enabler that helps insurers sever clients better and make smarter decisions, Mr Ronak Shah, CEO of...Asia: Geopolitics and climate risk are everyday realitiesGeopolitical instability and climate risk are two realities that insurance clients face every day, according to the CEO of Wholesale Markets Asia at...Overwhelming proportion of South Australians not prepared for bushfire riskSixty-three per cent of South Australians have not prepared their home for bushfire season, according to new research from AAMI.Australia: Disaster chasers pose a risk to policyholdersThe Insurance Council of Australia (ICA) has warned residents affected by last month's severe storm and hail event to be wary of disaster chasers.Cyber crime tops Singapore, APAC and global risk rankingsCyber crime topped the Singapore, APAC and global risk rankings in 2025, according to the PwC report, titled 'Insurance Banana Skins 2025 - Singapore...Philippine pre-need industry posts near stable premium growth in first 9 months but net profits dropThe total premium income of the Philippine pre-need industry reached PHP17.52bn ($313m) in the first three quarters of 2025, up by 3.92%, compared to...External asset management set to transform APAC insurance Investment modelsAPAC insurers are increasingly embracing external managers for reasons tied to strategy, governance, and technology, not simply operational...Singapore: Young caregivers face significant emotional strain and fearYoung caregivers aged 10 to 20 suffer significant emotional strain and fear when a parent falls critically ill, according to Income Insurance.Indonesia: Health insurance market consolidatesThe number of insurance companies marketing health insurance products has been declining, according to data from the Financial Services Authority...Indonesia: Regulator finalising health insurance risk sharing rulesThe Financial Services Authority (OJK) is finalising a regulation concerning risk sharing between insurance companies and their customers in the...Korean Re to maintain strong market position amid domestic restructuringKorean Reinsurance Company's (KRE) dominant market position will remain unchallenged over the medium term, despite its ongoing portfolio...Half of MGAs are at the start of their digital transformation journeyHalf of the attendees at a Root Platform's Managing General Agents' Association (MGAA) market briefing, are still at the earliest stages of their...Employers under-communicate health coverage to international assigneesInternational health insurance is the second most valued benefit for both HR decision-makers and international assignees (HR: 43%, IA: 54%), losing...India: Parliament passes Bill on 100% FDI in insurance in watershed moveThe Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 has been passed by both houses of Parliament.Exceptional Nat CAT events expected to dent Thai Reinsurance's underwriting results in 2025Thai Reinsurance Public Company Limited's (THRE) underwriting performance is expected to be weaker in 2025, with the full-year combined ratio around...APAC: Regulatory demands are main drivers of increased technology spend on ALMThe main drivers of increased technology spending on asset liability management are regulatory demands, including heightened requirements for stress...Thailand: Mandatory motor insurance policies to be fully digitalised wef 1 Jan 2026The Office of Insurance Commission (OIC) has issued a directive requiring insurance companies to issue compulsory third-party motor vehicle insurance...Indonesia: Regulator launches credit insurance scheme for online lendingThe Financial Services Authority (OJK) has introduced the Insurance Support Programme (ISP) to mitigate risks in the online lending sector.Insurance and safety frameworks in place as Guangdong vehicles enter HK's urban areasGuangdong vehicles have for the first time been allowed to enter Hong Kong's urban areas. The Southbound Travel for Guangdong Vehicles (Entry into...Asia: Reinsurance rate cuts approach 20% for non-loss impacted accounts in 1 Jan renewalsReinsurers saw rate reductions approaching 20% in Asia Pacific for non-loss impacted accounts in 1 January renewals, Aon, a leading global...Vietnam: Amended insurance law takes effectThe Law amending the Insurance Business Law takes effect today, focusing on administrative procedure reform and expanding the scope of business for...Thailand: Insurance regulator and industry players deliberate draft strategic plan for voluntary health insuranceThe Office of Insurance Commission (OIC) is moving forward on a project to develop a strategic plan for voluntary health insurance, according to a...Indonesia: Rising Nat CAT claims expected to reshape reinsurance treaty structuresIndonesia Re has assessed that the rising claims trend in Indonesia, particularly due to climate change, will impact future reinsurance treaty...Bangladesh: IDRA issues first-ever rules for insurance surveyors and loss assessorsThe Insurance Development and Regulatory Authority (IDRA) has issued, for the first time, regulations governing the duties, responsibilities,...Bangladesh: Regulator eases rules for appointment of insurance CEOsThe Insurance Development and Regulatory Authority (IDRA) has amended its rules for the appointment of insurance CEOs, easing eligibility criteria.Taiwan: FSC recommends financial reporting changes for forex gains and lossesThe Financial Supervisory Commission (FSC) has proposed amendments to regulations to better reflect the long-term operational realities of the life...Vietnam: Insurance market forecast to see cautious recovery in 2026The Vietnamese insurance industry is expected to show a cautious but more sustainable recovery in 2026, according to analysts at Vietcap Securities.Indonesia: Regulator improves risk management framework for insurersThe Financial Services Authority (OJK) has issued a regulation concerning the implementation of risk management for insurance companies, guarantee...APAC insurers set to increase risk exposure over next two yearsAPAC-based insurers are preparing to take on higher levels of investment risk over the next two years.Asia Pacific property-catastrophe rates see double-digit declinesProperty-catastrophe reinsurance renewals in the Asia Pacific region were competitive at 1 January 2026, noted Howden, the global (re)insurance...Indonesia: 80% of insurers meet new capital requirements before Dec 2026 deadlineThe Financial Services Authority (OJK) has announced that 115 out of 144 insurance companies (around 80%) in the country have met the 2026 capital...Convergence of diverse thoughts for strengthening the global reinsurance ecosystemThe Global Reinsurance Summit (GRS), conceived in 2023 and shaped through joint efforts of IFSCA-IRDAI and GIFT City, is now poised to continue its...Australia: Auto association calls for analysis of road safety data to curb accidentsThe continued increase in road fatalities in Australia underlines the need for the Commonwealth to assume a leadership role by conducting no-blame...Sedgwick forecasts 2026 in new global risk studySedgwick, the world's leading risk and claims administration partner, has published its 2026 forecasting report.Taiwan: Proposed FX accounting change could have profound implications for life insurersThe implications for the life insurance sector could be profound when a proposal by the Financial Supervisory Commission (FSC) to amend foreign...South Korea: New core capital ratio requirement to take effect on 1 Jan 2027Korea's Financial Services Commission and Financial Supervisory Service have announced that, starting 1 January 2027, the core capital K-ICS ratio...South Korea: Insurers to adjust capital strategies to comply with new capital requirementsKorean insurers are expected to recalibrate their capital strategies to focus on accumulating sustainable core capital in the wake of an announcement...SCOR backs major new fully integrated insurance facility for AI infrastructureFrench global reinsurer SCOR has joined a consortium of more than 10 leading (re)insurers to back a groundbreaking, aggregated global insurance...China Taiping Insurance Holdings expects an increase of at least 215% in net profit for 2025State-controlled China Taiping Insurance Holdings Company (CTIH) has issued a positive profit alert, stating that it expects profit attributable to...Asia: Mandatory disclosures reshape ESG landscape and are positive for insurersWhat has really driven ESG considerations among corporate clients, including insurers, over the past three to four years has been the introduction of...Malaysia: ESG risks rise for insurersEnvironmental, social and governance (ESG) risks are becoming an increasingly material consideration for Malaysia's insurance industry, driven by...Almost half of Asia's F&B companies unprepared for geopolitical & climate risksSevere weather events are affecting food and beverage (F&B) supply chains in Asia.Hong Kong: Limitations of wholelife insurance may widen protection gapA multi-trillion-dollar protection gap continues to hang over Hong Kong despite the territory being one of the world's leaders in life insurance...Southeast Asia: Insolvencies are likely to impact D&O claims across the regionAn expected increase in business insolvencies across the region will drive claims from stakeholders challenging management accountability and general...Thailand: Directive on online vehicle insurance takes effect 1 Jan 2026A directive issued by Thailand's regulator, the Office of Insurance Commission (OIC), which addresses motor insurance policies and the issuance and...South Korea: Insurers could face challenges in optimising capital structuresProposed new core capital ratio requirements in South Korea will enhance the quality of insurers' capital and sector resilience, but insurers could...India: IFSCA eyes institutionalising ILS and CAT bond marketThe Indian financial authorities aim to advance the insurance-linked securities (ILS) and catastrophe bond framework within India, specifically...Asia: In retirement, health is wealthAs Asia continues to age, two retirement paths are now emerging, alongside the sense that retiring is becoming a test of preparation, adaptability...Japan: Nippon Life positions for solid profits as diversification pays offNippon Life Insurance Company's (Nissay) large and stable in-force book of business in Japan, coupled with a gradually improving earnings mix and...Asia: GenAI emerges as a risk factor in retirement planningMore people are turning to generative AI for financial decisions, according to the findings of a study by Sun Life.Indonesia: Insurance and pension funds' stock investment cap raised to 20% following market turmoilThe government is increasing the investment limit for pension funds and insurance companies in the capital market from 8% to 20% of their total...SCOR sees growth in competitive Jan 2026 P&C reinsurance renewal environmentLeading global reinsurer SCOR SCOR has grown its P&C portfolio selectively, seizing profitable opportunities while maintaining a strong underwriting...Asia: China monsoon floods top CAT losses in the region in 2025Globally, the direct economic cost of Nat CAT in 2025 was estimated at $296bn, below the decadal average of $394bn (2015 to 2024) and most recent...Asia: Over half of survey respondents lack the information needed for informed healthcare decisionsSeveral factors are complicating accessibility to healthcare, according to a study commissioned by Prudential plc.APAC: Rising demand for private health insurance is a mixed trend in the regionA noted lack of confidence in New Zealand in the public health system is behind the shift of individuals to the private sector.APAC: Cancer drives rising insurance costsCancer has emerged as the fastest-growing condition in both insurance utilisation and cost across the Asia Pacific region over the past 18 months,...Thailand: Regulator shifts motor insurance toward a more personalised, merit-based systemThe Office of Insurance Commission (OIC) has unveiled new regulations under which citizens have the option of purchasing motor insurance with either...Insurance entities race to be among the first to launch apps on AI plaftormsA heated race is currently taking place in the insurance industry to launch insurance apps on AI platforms.Threats to people and assets surge in 2025 amid rising geopolitical and civil unrestIncidents threatening individuals or client assets rose by over a third in 2025, representing 37% of all reports submitted to Alert:24, Willis's...2026 projected as a year of elevated crisis pressures for Asia PacificBusinesses are expected to operate in an environment of persistent uncertainty in 2026, according to the latest "Crisis Management Annual Review" by...APAC: Insurance M&A activity expected to increaseM&A activity in the APAC region's insurance industry is predicted to surge A new study has predicted a surge over the next three years, according to...Vietnam: Insurance market projected to expand by 5% to nearly US$10bn in 2026The year 2026 is expected to see positive growth in the insurance market, according to estimates by the Insurance Supervision and Management...Indonesia: Life insurance market expected to return to positive trajectory in 2026The Indonesian life insurance industry's outlook for 2026 is projected to show more stable growth after premium performance experienced pressure...Indonesia: General insurance and reinsurance markets grow marginally in 2025The general insurance and reinsurance sector in Indonesia recorded positive performance in 2025. This growth demonstrates the industry's resilience...Taiwan: Regulator amends guidelines for forex price fluctuation reservesThe Financial Supervisory Commission (FSC) has revised its guidelines for foreign exchange price fluctuation reserves to strengthen the life...Japan: Global expansion lifts Tokio Marine Group outlook to positive, says S&PS&P Global Ratings (S&P) has revised its outlooks on Tokio Marine Group's core and highly strategic subsidiaries to 'Positive' from 'Stable', except...South Korea: FSS sets out supervisory priorities for 2026The Financial Supervisory Service FSS), South Korea's fully integrated supervisory authority, seeks to focus on innovation, trust, stability, shared...Indonesia: General insurance body collaborates with other associations to discuss formation of Medical Advisory BoardsThe Indonesian General Insurance Association (AAUI) is coordinating with other associations, such as the Indonesian Life Insurance Association (AAJI)...Vietnam: Regulator sets out action agenda for insurance industry through 2030Vietnam's Insurance Supervisory Authority (ISA) has outlined its market development strategy from 2026 to 2030, the overarching objective of which...Taiwan: FSC outlines 3 channels for insurance investment in sovereign tech industriesThe Financial Supervisory Commission (FSC) has said that it would soon issue an order allowing insurance companies to directly or indirectly invest...Is Asia Pacific's childhood obesity surge a turning point for L&H risk?After four decades of rapid economic development, urbanisation, and lifestyle change, Asia Pacific is now witnessing an unprecedented increase in...Vietnam: Alpha Reinsurance launched with focus on AI and dataAlpha Reinsurance Joint Stock Company (AlphaRe) has been officially launched as Vietnam's third dedicated reinsurer.SCOR posts net income of nearly US$1bn for 2025Paris-headquartered global reinsurer SCOR has reported a net income of EUR851m ($990m) for the financial year ended 31 December 2025, according to...APAC growth to ease as geopolitical and trade headwinds intensifyGlobal trade credit risk management group Coface has forecast global growth of 2.6% this year, a slight easing from 2.8% in 2025. The forecast was...South Korea: FSC to form 24/7 joint financial monitoring taskforce amid escalated Middle East conflictThe Financial Services Commission (FSC) will establish a joint taskforce to monitor the ongoing armed conflict in the Middle East. This initiative...Australia: Drivers urged to update kilometre limit to slash motor insurance billWith fuel prices expected to rise due to the war in Iran, Aussie motorists driving less in 2026 could save hundreds by updating one key detail on...ME conflict: Chubb is lead insurance partner for US$20bn maritime reinsurance planChubb will serve as the lead partner for the $20bn Maritime Reinsurance plan designed to resume commercial shipping in the Gulf, the US International...APAC: Must-pay coupons make Taiwanese insurers' Tier 2 debt stand outTaiwanese insurers' Tier 2 bond terms are viewed as more investor-friendly than those of most other APAC insurers due to their must-pay coupons,...ME conflict: Threat of cyber attacks back into spotlightThere is a heightened risk of severe cyberattacks during or following the military action in the Middle East, according to S&P Global Ratings (S&P),...ME conflict: World growth to continue at steady pace if oil price shock short-livedGlobal economic growth should be steady this year provided the current oil price shock is not prolonged, Fitch Ratings says in its latest March 2026...Australia: Automobile association reiterates call for policy reset to curb rising road fatalitiesThe Australian Automobile Association (AAA) is continuing to urge the Commonwealth government to lead changes to Australian road safety management...APAC: AI, cyber threats and compliance: the rising risks for SMEsAs small and medium enterprises (SMEs) rapidly adopt Artificial Intelligence (AI) and cloud-based infrastructures to scale, they are discovering that...Global: Insurers grapple with rising physical risksAs extreme weather events intensify, insurers face interconnected pressures, including how to price physical risk more accurately, manage growing...Australia: Cyclone Alfred insured losses finalised at US$1.33bn, highest since Cyclone Debbie in March 2017PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, has released its fourth and final industry loss...Indonesia: Impact of new health insurance rules to emerge by mid-yearThe impact of the new health insurance regulation that will take effect from 22 March 2026 will only be discernible in the middle of this year,...Changing weather systems are redefining underwriting boundariesChanging temperatures associated with climate change mean that "the Poles are warming faster than the Tropics", according to FM Research Group...Singapore: Great Eastern adapts to changes in health insurance landscapeGreat Eastern Group CEO Greg Hingston has said that the life insurer, a leader in the sector in Singapore, has taken a number of measures to try and...Singapore: Great Eastern lists reasons for strategic pivot toward the HNW spaceGreat Eastern is intensifying its focus on high-net-worth (HNW) individuals and families across Asia. Towards this goal, Great Eastern unveiled on 3...Asia-Pacific: Cyber crime surges as AI adoption creates new vulnerabilities, report saysThe Asia-Pacific market has become the fastest-growing target for ransomware groups in the world, with cybercrime surging sharply in the region in...China's insurance association plans to introduce model clauses for humanoid robot insuranceThe Insurance Association of China has stated that it will promote the implementation of model clauses for humanoid robot insurance.Asia: HNWIs lean towards life insurance in legacy planningHigh-net-worth (HNW) individuals prefer life insurance as a legacy planning tool, surpassing traditional options such as wills and trusts, according...Mixed legacy planning landscape in AsiaAsia shows a divided picture when it comes to legacy planning, according to the findings of a survey published by HSBC Life.
Singapore Health Promotion Board (HPB) and Fitbit will collaborate to run a 'Live healthy Singapore' initiative for the Singaporean population.
Last week, Grab announced its decision to invest $500m in Vietnam over a period of five years to tap opportunities in FinTech, new mobility solutions...
Asia Insurance Review's 6th Agriculture Insurance conference is set to take place in New Delhi next week and we look at how agriculture insurance is...
A survey by Bangladesh Bank has revealed that low incomes, lack of access to offices and high cost of products are some of the major barriers to...
Dark clouds are fast gathering over the global economy with the US-China trade war seemingly moving the world closer to the brink of a recession.
ArgoGlobal recently announced plans to cease its Syndicate 1200's underwriting operations in Asia and most of its hull underwriting business within...
OneConnect Financial Technology (OneConnect), an associate company of Ping An Group, and Singapore Management University (SMU) recently signed an MOU...
According to a research report by Allied Market Research, the travel insurance market was valued at $5,540mn in 2016 and is forecasted to reach...
The Bank of England recently issued a directive requesting insurers in the UK to gauge how climate change would impact the value of the equities and...
The insurance-linked securities (ILS) sector is poised to resume growth following a plateau in 2018 as CAT bond levels remain consistent...
Trust in the insurance industry is easily lost.
In this week's episode of the podcast, we speak to Odyssey founder and director, Kevin Goh and co-founder and manager Reuben Lee, about what its like...
Technology was the focal point at the Asia Risk & Resilience Conference 2019 and with the territory naturally comes talk of cybersecurity.
Last year, Hong Kong was one of the world's most visited cities, with 30 million tourists. According to the Hong Kong administration, visitor numbers...
Swiss Re recently released its latest Sigma research report that looks at the macroeconomic resilience of different economies, as well as the role...
Data released by the International Union of Marine Insurance (IUMI) reveals that marine underwriting premiums for 2018 marginally increased by 1% on...
A survey by the Korea Times revealed that a language barrier prevents foreign residents in South Korea from purchasing life insurance policies,...
"It's not about how hard you can hit; it's about how hard you can get hit, and keep moving forward. It's about how much you can take, and keep moving...
Sleep deprivation can lead to a downward spiral in both physical and mental health-related problems after affecting attention and memory capabilities...
'Coverdrive', launched in September 2017 as a digital assistant for new insurance agents has become highly successful in the Indian market.
According to a global study published earlier this week, major Asian economies are among the least prepared to face the threats of ageing and...
Asia is the most disaster-prone region in the world. However, many parts of the region remain underinsured against Nat CAT. Rajah & Tann's Simon Goh...
Bangladesh telecom operator Banglalink has launched a digital healthcare service platform called 'Daktarbhai' that will provide comprehensive...
According to a new report from World Health Organisation (WHO), the world is ill-prepared for the next big pandemic which could potentially spread...
DocDoc is Asia's leading patient empowerment company, helping patients find the right doctors for what ails them. In this episode of the podcast, we...
The global economy should avert a fully-fledged recession next year thanks to proactive measures by policymakers, according to trade credit insurer...
FWD Group is about to close a $400m acquisition of Vietnam-based Vietcombank Cardif Life Insurance, according to a Bloomberg report.
According to a report by Allied Market Research, the global health insurance industry was pegged at $3.15bn in 2018 and is projected to reach $4.47bn...
The insurance industry is facing a paradox of opportunities and complex challenges. In a recent whitepaper, EY Asia Pacific insurance sector leader...
In the last few years, there has been much talk within insurance about the need and ability to adapt to changes as technology evolves. The...
A study by AXA Insurance Singapore has found that only 50% of Singaporeans surveyed feel fulfilled in life. And finances seem to be the greatest...
Tata AIA Life, a private life player in India has pledged to plant a sapling in the name of the policyholder for every term policy that is bought.
Bain & Company's fifth global survey of retail insurance customers finds "connected" consumers interact with their insurance carrier more than four...
Financial institutions should make it a priority to strengthen cyber risk culture within their organisations, according to a cyber security advisory...
Sri Lanka spends an estimated $19m annually on healthcare due to floods and droughts according to a new research paper published in the September...
Non-life insurers operating in Southeast Asia believe that digitisation will have a limited impact on their premium growth in the short-term.
The Travelers Companies, the second-largest commercial P&C insurer in the US, has revealed that more businesses - regardless of their size - are...
Financial service providers in Australia have to be prepared to deal with a number of regulatory changes in the next few years in the aftermath of...
The investment strategy of Asian insurers has a large focus on risk management and portfolio resilience as they adopt a slightly more cautious...
Annual global cyber losses are expected to reach $6tn by 2021, with cyber security spending set to exceed $1tn cumulative in the five-year period...
Singapore scored the highest score of all world cities surveyed (75.8 points out of a possible score of 100) to manage the disruption that will be...
MSIG Malaysia has teamed up with philanthropist Sujana Mohd Rejab to design and build electronically controlled prosthetic limbs for people injured...
Floods, windstorms and earthquakes. It's hard to predict the exact moment they will strike, but with traditional data-based insights powered by new...
As part of its Corporate Social Responsibility(CSR ) efforts to improve water resilience around the world, AXA XL has entered into a three-year...
Sri Lanka is ageing rapidly and a greater share of the older Sri Lankans will be women, a trend experts refer to as the 'feminisation of ageing'.
According to a report by Bain & Co, in collaboration with Temasek and Google, digital financial services are expected to cross the $1tn mark by 2025.
Seventy-six percent of small and medium enterprises (SMEs) polled in Hong Kong have suffered a cyber attack in the last 12 months, according to a...
AXIS Capital has announced a new policy addressing thermal coal and oil sands-related underwriting and investments. The new policy will support the...
A report published by convergence payments solutions company Razorpay revealed that digital transactions in India witnessed 383% growth in the last...
Clyde & Co partner Nick Sykes recently issued an alert on the significant insured losses that could arise from typhoon Hagibis, which made landfall...
Allianz Real Estate, acting on behalf of several Allianz companies, has formed a joint venture with Alpha Asia Macro Trends Fund III - a fund managed...
A report by Kotak Institutional Equities Research has revealed that the Indian life insurance industry is facing a slowdown as individual annual...
On the sidelines of the 25th Indonesia Rendezvous last week, Asia Insurance Review sat down with Bindcover founder and CEO Victor Roy, to learn more...
Tokyo, Beijing and Singapore are the world's leading environmentally friendly commuting cities. A recent report by data insight company Kantar said,...
A global ranking of brands across all industries has found Allianz to be the top ranked insurance brand for 2019, with the insurer sitting in 43rd...
Asian insurers have achieved remarkable growth in recent years, but digital disruptors are on the rise and threatening the status quo. With new...
Indian InsurTech startups Acko General Insurance and Go Digit General have posted a 600% and 400% increase respectively in gross direct premium...
At the opening day of the 16th SIRC, we talked to several delegates and found out what they perceived to be the biggest issues that (re)insurers...
Part of Asia's allure for insurers has been the growing middle class and their increasing spending power. A recent report by Peak Re talks about...
A report by Kotak institutional equities research has shown that general insurance companies in India have reported 18% y-o-y growth in premium...
White patients are more likely to get extra medical help compared to black patients when an algorithm chooses who gets the additional attention.
On the sidelines of the 16th SIRC, we sat down with AbsoluteClimo co-founder and climatologist Brendan Lane Larson, visiting from the US, about how...
The financial services and insurance sector industries emerged as the most data ready industry in relation to its ability to make data analytics...
Change management has emerged as the greatest internal challenge facing C-suite life insurance executives in the most recent biennial global survey...
Verisk, the leading data analytics provider, in collaboration with PartnerRe, a global reinsurer is developing new life insurance underwriting...
Less than half of employers In Asia Pacific believe their benefits package is tailored to meet the specific needs of their workforce, revealed the...
Four in ten Singaporean (41%) do not feel optimistic about their future financial stability despite being in relatively good financial health, as...
Reputation is a complex risk for insurers to quantify and insure given that it is intangible and often a by-product of another risk. In order for it...
The economic outlook of South Korea for the upcoming year is, in one word, 'blue'.
More and more insurers are turning to AI to improve various parts of the insurance value chain, in the hopes of getting ahead in the technological...
Bangladesh presently generates about 3% of its total power requirement from coal, but it has plans to build 29 coal-based power plants in the next...
If all adults in China increased their physical activity by 20% and met at least the World Health Organisation (WHO) minimum requirements for...
Taiwan's national reinsurer, Central Reinsurance Corporation (Central Re) was established in 1968 to promote the growth of the domestic insurance...
Asia's economic growth in recent years has been nothing short of phenomenal, and with low insurance penetration rates in many areas, there remains a...
Munich Re is best known for a couple of things: Being one of the world's biggest reinsurers; and being at the forefront of exploring the...
A study conducted by ReMark has found that the level of education and employment of people has a great impact on their choice to acquire insurance...
GoBear is one of Asia's largest comparison sites for financial products, and it has recently been shifting towards becoming what they call a...
At the sidelines of the 2019 SIRC, we spoke to Allianz Re senior underwriter Grace Lim about the issues their clients are facing in Asia and the...
On the sidelines of this year's Asia Reinsurers' Summit in Hong Kong we caught up with next year's host, Malaysian Re president and CEO Zainudin...
On the sidelines of the 2019 SIRC, we spoke to Swiss Re head of P&C underwriting Sharon Ooi about the issues its clients are facing in Asia and the...
Animal agriculture and meat consumption are significant contributors to climate change, and a recent report found that Asia's animal agriculture...
On the sidelines of SIRC 2019, we spoke to Aon Reinsurance Solutions global chairman Dominic Christian on what he found to be the biggest...
Digital health, or HealthTech, is a rapidly growing segment that is expected to be worth billions of dollars in the coming years. The speed of...
There is a big gap between talk and action when it comes to sustainable finance, and the main cause of that is a lack of clear definition of what it...
From January 2018 to June 2019, countries outside of China decreased their total coal power capacity by 8.1 gigawatts (GW), due to steady retirements...
It is natural to assume that with the developing nature of most of Asia Pacific's markets, their healthcare ecosystem is in a similar state of...
On the sidelines of SIRC last month, we sat down with Tony Egerton, Nexus Asia CEO, about their growth prospects, the strength of MGAs, the...
Bharti AXA Life, a private life insurer in India, launched its 'Let them shine' campaign on 14 November, which is the country's official children's...
Reinsurance broker New Dawn Risk aims to provide insurers in Asia with greater provision to write liability risk through broader reinsurance treaty...
At the Singapore FinTech Festival, we spoke to Singlife CEO Walter de Oude on their innovative new product and partnership with Visa.
HDFC Life, an Indian private life player, has launched a video life certificate facility for its corporate and retail annuity customers, which is a...
Climate change has been the topic du jour for over a year now, and companies and governments are taking notice and starting to take action. However,...
McKinsey's latest report on ecosystems - defined as a set of connected digital services that enable users to fulfil multiple needs on a single...
Societies develop, risks expand - and that's why we need smart reinsurers. So said SCOR chairman and CEO Denis Kessler to Asia Insurance Review in a...
It's no longer a surprise to read that the climate crisis is the biggest news in town. But it's time to inject a bit of realism into the picture,...
Reinsurance as a role-playing game? This may not be such a daft concept - and is not far removed from the process used by at least one global...
The last few years have seen reinsurers trying to get closer to the original risk through setting up their own primary carriers or via managing...
Reinsurers in Asia are currently being haunted - or stalked - by three malevolent bogeymen, according to Willis Re International chairman James...
At the Singapore FinTech Festival last month, we spoke to Manulife regional bancassurance head of customer experience and innovation Ms Sonali Verma,...
It will be not be economically viable to distribute SME insurance through brokers for much longer. That was the stark message from QBE CEO Pat Regan,...
Ask 10 top reinsurers about their main purpose in life and it's likely that 10 different answers will emerge.
Agriculture Insurance Company (AIC) is making big strides to help school dropouts and kids with low learning levels as well as other vulnerable...
A rising tide lifts all boats. Could there be any nicer way to prick the ego of insurers who think they're outperforming the market?
At the Singapore FinTech Festival, we talked to Milliman consulting actuary Kieran Walsh on its new product GBA Platform, and Milliman-sponsored...
From 1 December government buildings in seismically-active Indonesia will be insured by a consortium of 56 insurance companies for the first time.
The number of people who remain unvaccinated - the vaccination gap - is emerging as one of the greatest new risks faced by society. Failure to...
At the Singapore FinTech Festival, we talked to Hong Kong-based InsurTech CoverGo about their choice to create a plug-n-play API framework for...
Today more women in India are buying health insurance for themselves. This has increased from 9% in 2016-17 to around 19% in 2018-19 according to a...
Vietnam is currently facing issues over manpower, as the regulators continue to try and improve the professionalism and standards of the growing...
At the Singapore FinTech Festival last month, we talked to Irish InsurTech ClaimVantage CEO Leo Corcoran on why insurers need to be more proactive...
Everyone knows that the course of true love seldom runs smooth - but the course of grafting a tech-savvy start-up onto the overweight carcass of an...
FINEOS Corporation chief commercial officer Ian Lynagh shared the solutions to common problems that insurers faced in the digital world, in this...
Mr Julian J Locsin, who was one of the speakers witnessing the historic birth of the EAIC in 1962. Mr Locsin is now in his 80s, but he still cares...
When a leading global reinsurer is looking for growth, every line of business if fair game.
At the Singapore FinTech Festival in November, we spoke to Swiss Re APAC head of digital and smart analytics Yannick Even, on how customer engagement...
EY insurance sector leader Asia Pacific Grant Peters told Asia Insurance Review that insurers in the region have a critical role to play in helping...
In 2018, the health protection gap in Asia was estimated to have reached $1.8tn. Cigna International Markets Asia Pacific CEO Patrick Graham believes...
Insurers should continue to harness technology and embrace digitalisation in order to remain sustainable into the future, said the president of...
Max Life Insurance, a private life player in India, has launched 'protect a smile' through which it will fund one year's educational expenses of...
Philip Morris' new UK life insurer, Reviti, is looking to take its 'get a discount if you vape' model to Japan, where the tobacco giant has a more...
At a video interview during the Singapore FinTech Festival last month, 360F CEO Michael Gerber revealed the inspiration behind launching...
P&C insurers are gradually getting more sophisticated at measuring risk aggregations and modelling potential losses from catastrophic cyber events,...
The specialty insurance market has a long-standing data problem which is costing specialty market carriers millions.
Razer, a company that specialises in making gaming peripherals, is leading a consortium that has submitted an application for a full digital banking...
Recognising the need to raise awareness regarding deposit insurance amongst the public in India after the recent failure of a local co-operative...
Firms in the insurance sector are increasingly adopting digital ecosystems to scale up rapidly. We spoke to ebaoTech, a global digital insurance...
Property catastrophe reinsurance renewals proved to be very competitive in many Southeast Asian markets at the recent year-end renewals, with several...
The last few months have seen large swaths of Australia's countryside ravaged by bushfires and turned into a hellish landscape. A state of emergency...
The aviation sector was greeted with the unfortunate news of the crash of Ukraine International Airlines flight in Iran on Wednesday which killed all...
Aon Securities announced that the catastrophe bond sector has surpassed $100bn in cumulative issuance since its inception more than 20 years ago.
Discussions are underway to form a catastrophe insurance pool in the Philippines as the local market looks to find a more sustainable solution for...
For the first time in the World Economic Forum's Global Risks Report survey's 10-year history, environmental risks took the top five spots. Over 750...
The rains that fell on Jakarta on New Year's Eve and New Year's Day have cost insurers $79m in property and motor losses, according to the General...
The average lifespan is increasing in a number of Asian countries and insurers have had to consider the effects of an ageing population. But given...
A deadly trifecta of soaring temperatures, dry weather, and strong winds has created ideal conditions for what could possibly be one of the worst...
There is so much more to climate change than meets the eye. Everyone can see its obvious effects - increasing average temperatures, extreme...
Lloyd's Chairman Bruce Carnegie-Brown has urged the Indian government to increase the limit for foreign direct investment (FDI) in insurance...
The economic cost of natural disasters to global economies reached $2.98tn between 2010 and 2019, which was $1.19tn higher than the previous decade....
As the reinsurance market faces the heat of increasing protectionism, environmental and political headwinds - a question mark hangs over its future....
At the World Economic Forum Annual Meeting 2020 in Davos, China's Ping An Insurance presented its new poverty alleviation model, designed to leverage...
Beyond the obvious health-related effects of the coronavirus outbreak, there is also the consideration that businesses - especially those in the...
This story is part of our premium content on AIR+. To access more of such stories, please visit asiainsurancereview.com/AIR.
Experts fear the Wuhan coronavirus outbreak in China will have a major impact on economic growth in China, and that of the wider global economy.
The coronavirus has spread to India, with three people testing positive in the south Indian state of Kerala. The state government has declared a...
The basic role of insurers has always been to protect customers against financial losses or adverse events such as the ongoing novel coronavirus...
Hannover Re announced a strong premium growth volume in traditional P&C reinsurance across the globe, with its business in Asia, Australia and the...
Asia's growth over the last decade has seen many (re)insurers establish and expand their presence in the region. However, insurance is a very niche...
HDFC Ergo, a private non-life player in India, in association with BIG FM radio has launched the 'High Beam - Not Ok please' campaign on the...
Environmental risks rank high among the top concerns for the Tokyo Olympics this summer, according to Marsh Japan chairman Satoru Hiraga.
Allianz and China Life have stepped up efforts to aid China's fight in the 2019-nCoV epidemic, moving beyond providing insurance coverage. Allianz...
The novel coronavirus has infected more than 28,000 people to date, although significant under-reporting as well as undetected cases suggest the...
Only three private health insurers (PHIs) in Australia will have a viable business model by 2022 if rising disparity between claims costs and...
The Indian government is going ahead with its ambitious plan to merge three of the four PSU non-life insurers, leading to the creation of the...
The new coronavirus (2019-nCoV) outbreak, originating in Wuhan in China, has resulted in more than 18,000 reported cases globally, with the World...
Paris-headquartered Covéa, the French mutual insurance company that covers property, liability and reinsurance, is said to be in exclusive talks to...
For the full financial year 2019, SCOR Global P&C experienced a strong gross written premiums growth, of 15.8% at constant exchange rates, to EUR 7.1...
India's recent proposal to list the country's largest life insurer, Life Insurance Corporation of India (LICI), would mark the largest IPO in the...
Amidst all the mass hysteria surrounding the coronavirus outbreak, people in affected Asian countries seem to be avoiding face-to-face interactions...
News that French insurer Covéa is in talks with Exor for the purchase of reinsurer Partner Re potentially marks yet another convergence of the...
Since the turn of the millennium, the world has seen several viral outbreaks in relatively quick succession - SARS, MERS, avian influenza (H5N1),...
The 2019 Novel Coronavirus is a timely reminder for life insurers to stress test their balance sheets in in the event of a pandemic outbreak.
Forecasting for the year ahead is never easy, but Nat Re president and CEO Allan Santos seems quite sanguine about the prospects facing the national...
The Japanese life insurance market is interesting because it is mature while being a prime example of an ageing society. It is also large enough and,...
The Indian budget for 2020 has given individual citizens an opportunity to shift to a lower tax rate structure if they give up the benefits of...
Outside of mainland China and the ill-fated cruise ship, Singapore and Hong Kong have the highest incidence of coronavirus infections. Singapore had...
The primary insurance market in the Philippines has 86 players serving a population of 105m - suggesting that some consolidation might be in order.
If there is one thing that businesses have learned from the rise of Netflix, Amazon Prime and Apple - it is that the future of customer loyalty lies...
The bushfires that have ravaged Australia over the past three months have damaged over 2000 homes and cost at least AUD1bn in claims. A typical...
Technology has long been an essential part of the insurance industry, helping insurers develop new products, assess claims and transform the customer...
Having implemented biometric technology in several areas such as bank account verification and identity verification at border crossings, Pakistan is...
News last month that Jeff Bezos' phone was hacked, allegedly in the course of a WhatsApp communication with Saudi Crown Prince Mohammed bin Salman,...
Genetic testing can be a powerful tool for insurers - potentially allowing them to price risk better. But it also carries with it some potential...
As the COVID-19 epidemic rages on in China, international credit ratings agencies expect non-life insurers there to bear significant short-term as...
At the recent India Rendezvous 2020 conference, Dacadoo founder & CEO Peter Ohnemus speaks about the digitalisation of health insurance and how it...
High premiums, a lack of understanding of insurance and distrust are major barriers hindering the sale of insurance products in China despite the...
The entry of foreign players has brought a wave of excitement regarding the future of Myanmar's nascent insurance market which is brimming with...
The China stock market has moved lower in back-to-back trading days, falling more than 0.8% along the way. The Shanghai Composite Index (SCI) now...
The insurance industry in Asia has responded quickly and well to the still-evolving coronavirus situation - perhaps because many people in Asia still...
The COVID-19 outbreak is expected to have a 'significant impact' on the marine insurance market as the volume of cargo shipments within Asia and...
In a typically restrained editorial in The Economist this week, the newspaper suggests that the most important thing that world governments can do to...
Bangladesh, a country virtually unknown to the world, is today giving its Asian big brothers a run for their money by clocking an average annual GDP...
As the opening date of the 2020 Summer Olympics in Tokyo inches closer amidst the ongoing COVID-19 global health emergency, the risk of the games...
Lloyd's seems to be moving full steam ahead in its drive to modernise in a dynamic risk environment amidst rapid advancements in technology.
PartnerRe has reported a net income available to common shareholder of $890m for the full year 2019, which includes net realised and unrealised...
Sompo International has partnered with US-based labour and employment law firm to offer risk-control capabilities in both English and Japanese to its...
To travel or not to travel - is a major question facing many who have already planned vacations or are looking to travel amidst the ongoing...
Covéa, the French mutual insurance group, has approved a memorandum of understanding with Exor related to the proposed all-cash acquisition of the...
Independent claims specialist Cunningham Lindsey Philippines has officially rebranded itself as Total Claims Specialists (TCS) with a view to...
Ordinary members of the Life Insurance Association, Singapore (LIA) elected the members of the LIA management committee at the association's annual...
Singapore-based insurtech CXA group recently confirmed that it had let go of 12 staff in order to improve future profitability as it seeks to raise...
With 42 confirmed cases, India is still relatively better off than many other countries with respect to the coronavirus outbreak that has globally...
Medical experts have been hard at work to find a cure for COVID-19, with dozens of studies underway in several countries. In some cases, clinical...
According to AM Best, Japan's life insurance market grew by 2.9% in 2019 in terms of total annualised premiums of policies in force. Core profit...
The general insurance council, representing all non-life insurers in India, has launched an awareness campaign across the country to popularise...
Insurance-linked securities (ILS) are currently estimated to provide reinsurance capital in the range of $88bn (according to AM Best and Guy...
AIA released its financial report for 2019, reporting a total 6% growth in value of new business (VONB) to $4.15bn across all markets. This...
AIA current group CEO and president Ng Keng Hooi is set to retire in June this year, after 30 years of experience in the industry. This report...
Proactive steps by insurers and the insurance regulator in India in the wake of the COVID-19 pandemic has had a positive effect on thousands of...
Major insurers and re-insurers are willing to embrace InsurTech when it comes to underwriting, sales, claims and routes to market, but have not yet...
According to SCOR's recently released financial report, 16% of its gross written premiums (GWP) was generated in Asia in 2019, compared to 19% in...
Cyber criminals are exploiting the novel coronavirus crisis by deploying new attack tools to prey on public panic amidst the global pandemic,...
A recent report by Fitch ratings reveals that Korean insurers in their search for higher investment returns and longer asset duration are...
AMTD Digital has announced a planned acquisition of PolicyPal, a Singaporean InsurTech start-up that acts as an online insurance broker and product...
Generali announced that the company has achieved a record operating result of EUR5.2bn ($5.bn), growth of 6.9%, in its 2019 financial report, with...
According to a recent survey conducted by QBE Singapore, only 1 in 5 Singaporean SMEs felt that the impact of climate change was a relevant issue for...
With the world in the grip of a pandemic, many companies will see some level of disruption to their business. This could lead to loss of revenue due...
Back in December last year, Asia Insurance Review published a story about the risks posed by the vaccination gap - something we feel is relevant in...
PVI Insurance is one of the biggest insurers in Vietnam, holding an estimated 15% of the Vietnam market. With the guidance from owner HDI Global, the...
Institute of Operational Risk, England and Wales chapter chairman Dr Jimi Hinchliffe and Institute of Risk Management director of corporate relations...
While Chinese production lines are almost back to full capacity after the lockdown in January and February to tame the spread of the coronavirus,...
Manulife has announced its collaboration with dacadoo, a Swiss-based global digital health platform provider, to enhance the company's digital...
It is often common for businesses to assume that infectious diseases such as COVID-19 are covered under environmental insurance policies and can be...
The number of companies purchasing cyber insurance continued to increase last year according to Marsh, indicating that 42% of its US-based clients...
The government of Hong Kong has introduced a bill to amend its insurance regulation to allow for insurance-linked securities (ILS) such as...
The motor third party liability insurance premium in India for the financial year 2019-20 will remain the same beyond 31 March 2020 until further...
Ping An came in on top at Stanford University's Question Answering Dataset 2.0 (SQuAD 2.0), an internationally recognised test of machine-reading...
According to Check Point Software, there have been over 4,000 coronavirus-related domains registered globally since January 2020.
Hannover Re announced its audited numbers for 2019, delivering strong performance as it boosted its group net income by 21.2% to EUR1.28bn ($1.42bn),...
Catalina Holdings has completed the acquisition of Singapore-headquartered Asia Capital Reinsurance Group (ACR) following the necessary regulatory...
According to Sedgwick, its Asian offices have experienced a slight slowdown in overall claims volume over the last two months. Specifically, personal...
China Re's recently published financial report for 2019 showed year-on-year growth of at least 25% in all sectors, recording a total of CNY144.97bn...
As insurers around the world scramble to deal with the impacts caused by the ongoing global pandemic, they can learn a thing or two from insurers in...
The current pandemic has brought the world to its knees, and many people find themselves in difficult situations - in quarantine, facing pay cuts or...
By now, you've heard the phrase 'flatten the curve' numerous times to describe slowing the growth of the COVID-19 outbreak. Flattening the curve is...
Companies in Southeast Asia have ranked data protection as the top priority when it comes to IT security issues, according to the annual Kaspersky...
The COVID-19 pandemic has brought the world together in a truly unique way. People all over the globe are calling for solidarity and unity. But as...
The Overseas Development Institute has urged governments and international aid agencies to implement anticipatory action (AA) in their existing...
In Swiss Re's latest sigma report, the reinsurer expects climate change to increase the intensity and frequency of severe weather events and lead to...
HDI Global has stated that its solvency is in a good state, despite the pressures of COVID-19, and reaffirms its commitment to the Australian and New...
The Korea Development Bank (KDB) seems to be succeeding in its fourth attempt to sell its life insurance company, formerly known as Kumho Life...
While many of China's industries have adapted quickly to meet changing customer demands, the insurance industry has taken a bit more time to respond....
A report by Willis Towers Watson (WTW) said that climate change and relevant environmental social governance (ESG) will transform the energy...
A UK consumer rights TV show 'Got Your Back' found out recently that many second-hand cars sold in the UK last year were overvalued, due to an IT bug.
AIR Worldwide executive vice president and director of India Dr Praveen Sandri gives us his insights on the economic impact of COVID-19, the complex...
The 5th Asia Trusted Life Agents & Advisers Awards saw some 250 submissions from over 40 companies and 12 markets - Cambodia, China, Hong Kong,...
The fourth quarter of last year saw an all-time high of $2bn of investments into InsurTech, and 2019 as a whole produced 33.9% of total global...
The world is gripped in the tight fist of the coronavirus, but life tries its best to carry on. This is best exemplified in Hong Kong - the city...
Life might have come to a standstill as the world battles COVID-19 but death has not slowed down. Weather-related natural disasters claimed many...
China: Question marks over pricing adequacy of new BI cover as firms resume work
The total capital dedicated to the global reinsurance industry measured $605bn at year-end 2019, reflecting a robust 15% year-on-year growth (2018:...
Aon Securities is expecting the second quarter to see strong issuance of new catastrophe bonds and related insurance-linked securities (ILS), despite...
Insurance is a very old industry. And while it has managed mostly to evolve and keep up with the times, there are aspects of insurance law that...
Malaysia's insurance sector has 55 licensed (re)insurers and (re)takaful operators, and the postponement of IFRS17 is a relief particularly for the...
Flood risks have been a thorn in Asia's side for many decades. The effects of climate change have only exacerbated those risks, increasing the amount...
At the end of last month, (re)insurance strategic advisory firm Huntington Partners announced a partnership with Hong Kong-based financial services...
Ownership and awareness of life insurance among women in urban India has registered a sharp increase over the last 12 months.
With COVID-19 pandemic sweeping virtually every nation across the globe, most organisations are adjusting to employees working from home. However,...
General insurers need to reinvent their products in order to increase the sector's economic relevance amid a new risk landscape. For instance, while...
A report by Kotak Securities has revealed that, despite the COVID-19 lockdown across the country in the month of April, life insurance companies were...
Japan's Nippon Life has begun talks with Indian private lender IndusIndBank regarding a strategic investment. The bank is currently in the midst of...
Despite a series of infectious disease outbreaks since the turn of the century, COVID-19 still caught the world off-guard. And as we now witness just...
A global coalition of 32 environmental, indigenous, and citizen groups is calling on insurers to drop their policies for the Trans Mountain Pipeline...
Zurich-headquartered insurance industry think tank Geneva Association has conferred its first annual 'Women in Insurance Award' to AXA Emerging...
According to the recently released 2020 FM Global Resilience Index, several nations in Asia Pacific are well-positioned to foster a post-pandemic...
The impact of COVID-19 could potentially cost the global economy up to $12tn in lost output over the next 12-24 months, equivalent to the size of...
Three-quarters of companies in Asia Pacific have suffered from unpaid or delayed receivables in a survey conducted between December 2019 and February...
After several years of declining rates, commercial insurance buyers are seeing prices go up to prices not seen in almost two decades, compounding the...
Insurers in India and Bangladesh already overwhelmed by the impact of COVID-19 on their operations and businesses are now facing a bigger challenge...
Cyber criminals have become bolder since the pandemic began, said cyber insurance specialist Emergence. The insurer revealed that it has made a...
Much of the focus on COVID-19 has been negative. The pandemic and consequent containment measures have had dire repercussions.
Ensuring the mental well-being of its staff has been a key factor in helping AXA navigate through the COVID-19 pandemic, its CEO for Asia Gordon...
India is facing its worst threat from locusts in almost 26 years as huge swarms have destroyed over 50,000 hectares of agriculture land in seven...
With digital adoption becoming mainstream, customers can now do their own research on policy options via digital channels. The trust equation between...
In the first edition of its Global Pension Report, Allianz analysed pension systems around the world, looking at demographic and fiscal prerequisites...
The varying language used in insurance policies, as well as an expansive interpretation of 'physical damage', could mean courts looking favourably at...
Back-to-back cyclones within a two-week period in different geographical zones of India have caused enormous economic losses and human misery, while...
Allianz is in talks with Chinese regulators for a license as the German insurer looks eventually to offer broad asset management services in the...
The ongoing coronavirus crisis appears to be a double-edged sword for the insurance industry. While the crisis has affected the profitability of...
A survey by the American Institute of Certified Professional Accountants (AICPA) has revealed that 61% of Americans are likely to be personally...
A study by US-based Insurance Institute of Highway Safety (IIHS), released on 4 June, found that self-driving cars would most likely only be able to...
The latest edition of quarterly Chartered Insurance Institute (CII) Public Trust Index released on 27 May has revealed that before the coronavirus...
Two big typhoons hit Asia in the space of a week - typhoon Vongfong made landfall in the Philippines and typhoon Amphan hit the South Asia region in...
Digitisation is no longer a mere competitive advantage but an integral part of business continuity plans (BCP) - something that has been put into...
A report by Kotak institutional equities research has revealed that the COVID-19 lockdown across the India has had a major impact on the life...
Last week, Shanghai played host to the China P&C Reinsurance (CPRC) Innovation Lab Unveiling Ceremony and Innovation Development Seminar.
Based on a survey conducted in March this year, a recent report by Atradius found that Asian companies are now utilising several credit management...
With the cryptoasset and blockchain markets growing rapidly, new research from Evertas, the world's first cryptoasset insurance company, reveals 88%...
Investment in infrastructure development is set to be one of the main drivers of sustainable growth in the emerging markets after the COVID-19 crisis...
In today's interconnected and technologically-advanced world, cyber risks have been put in the spotlight once again as an increasing number of cyber...
Healthcare systems around the world face a number of vulnerabilities, one of which is the risk to the global pharmaceutical supply chain.
As many people will have noticed by now, the COVID-19 pandemic has forced insurance to speed up the adoption of technology.
Deutsche Investitions - und Entwicklungsgesellschaft mbH (DEG), a wholly owned subsidiary of KfW Group based in Cologne, Germany, has signed a letter...
Technological advancements in AI, big data, and advanced analytics have made the fundamentals of good underwriting more data-driven than ever. At the...
Despite COVID-19 dominating the world's attention, addressing climate risk remains a top priority for 57% of CEOs and CFOs surveyed in Asia Pacific...
Hong Kong-based insurer FWD Group last week reached an agreement to buy a significant minority stake in Indonesia's Asuransi BRI Life - the life...
Bima Mandi, an InsurTech launched in India, will focus exclusively on rural markets and make available specific products catering to this segment of...
Insurance-comparison platform GoBear has partnered with cloud-banking platform Mambu and digital credit-scorecard provider CredoLab to spread its...
As it celebrates its 65th foundation day, the Insurance Institute of India (III), a pioneer insurance training centre in Asia, is taking a number of...
In the first five months of 2020, the number of Export-Import Bank of Thailand's (EXIM Thailand) export insurance clients that have filed documents...
HDI Global Singapore managing director Graham Silton talks about the Asian insurance markets and the impact of COVID-19.
A survey conducted by the Insurance Institute of India (III) has revealed that COVID-19 will have a long-lasting impact on the insurance sector,...
Last week, AXA XL announced its switch to becoming China's first foreign-owned reinsurance subsidiary. The subsidiary, XL Insurance China, is to be...
AIA Insurance Sri Lanka organised a 'healthy cook-off' competition for its employees to remind them on the importance of nutritious food.
Most global insurance markets will recover in 2021 and global growth over the next decade should settle down at 4.4%, against 8.1% in Asia...
Over the past decade, foreign companies have withdrawn from Taiwan's insurance market one by one.
Asia can expect to see a 40% increase in cancer mortality by 2030, with the region registering a high mortality rate compared to North America,...
The Indian government's plan to merge three of the four public sector undertakings (PSU) non-life insurers into one behemoth has been put off, as it...
Insurers in Hong Kong have paid out over $3m for travel insurance claims arising from the COVID-19 crisis, which include benefits such as quarantine...
Remote working, social distancing, city lockdowns and face masks. These are just some of the new realities of life brought about by the COVID-19...
The ongoing COVID-19 pandemic will have dire repercussions for the global life insurance industry, with a steep contraction in premiums being...
Swiss Re's latest sigma report revealed that the reinsurer expects global GDP to contract by about 4% in 2020, over double the rate (roughly 1.8%)...
The risk and reward calculation posed by the insurance sector in an increasingly hardening market is starting to look attractive to investors...
Aegon Life Insurance will now offer an upgraded life insurance cover with enhanced COVID-19 protection built-in. The upgraded policy would be...
Sompo International will be offering small business clients a 15% discount on US commercial auto premiums for the period of 19 March to 31 May this...
Aon's latest global reinsurance market outlook revealed that a number of new dynamics have emerged in reinsurance throughout the June and July...
IndiaFirst, a private life player in India has partnered with FinTech company InsureNearby to offer insurance to low-income citizens in the country.
In a press briefing last week, Lloyd's of London CEO John Neal said that it had received requests from syndicates to write GBP11bn ($14bn) of new...
Many governments around the world are not keeping pace with the needs of their ageing population, and things need to change quickly as current...
The multigenerational family business model could be set to decline in Asia, according to a survey of more than 1,300 family business owners in six...
With climate change continuing to drive the frequency and severity of floods, the worry is that even more flood-related risks could become...
Global natural disaster events during 1H2020 caused total economic losses estimated at $75bn - 25% lower than the 2000-2019 average of $98bn....
The Indian non-life insurance segment in June reported 8% year-on-year growth in premiums, led by 47% growth in fire, a robust 9% growth in health...
COVID-19 is creating an "insolvency time bomb", with the bulk of insolvencies expected to occur largely between the end of 2020 and 1H2021, according...
The pace of digital transformation has only grown faster since the pandemic forced people to stay at home and work remotely, catalysing an increase...
Social media has established itself as a fundamental part of most people's day-to-day lives. With its far-reaching penetration into the masses, it...
Swiss Re reported a net loss of $1.1bn for the first half of 2020 after booking claims and reserves related to COVID-19 of $2.5bn. Excluding the...
New Zealand has managed to weather the storm of COVID-19 with relative ease, with the country lifting domestic business restrictions in June,...
With close to 2m COVID-19-positive cases in the region, insurers in South Asian markets are rising to the occasion to serve their clients by keeping...
iassure, an InsurTech start-up is employing local residents from rural and semi urban communities to deliver insurance products through a digitally...
Insurers will need to change how they support agents to help them become more resilient in the face of the pandemic and prepare to thrive in the...
Over the last few months many insurers in the US, UK and Europe have found themselves embroiled in lawsuits filed against them by companies whose...
Intangible assets account for an increasing proportion of companies' balance sheets, sitting at an estimated 85% of total business values across...
The Scripbox financial freedom survey 2020 has revealed that uncertainty about economic recovery in the wake of COVID-19 is preparing citizens for a...
China's ambitious series of healthcare reforms remain on track as the government seeks to improve access and contain costs of healthcare in the...
With COVID-19 and lockdowns having emphasised the need for digital transformation greater than ever before, InsurTech is becoming increasingly...
A private non-life player in India has launched a personal accident policy that can be gifted to anyone.
For the past decade, the D&O market in Asia was at the segment of the cycle where capacity was abundant, coverage was broad and rates were low....
Remote working was a major cultural shift for businesses in the wake of the pandemic, and reduced employee productivity has been a concern among some...
As a risk-protection mechanism, insurance has the power to support sustainable development goals (SDGs) around the world.
Australian banking and insurance group Suncorp recently announced their decision to end all financing and insuring of the oil and gas industry by...
The world has changed a lot over the last few decades and is now more interconnected than at any other time in human history. With that comes a...
Global commercial insurance prices rose 19% in the second quarter of this year (2Q2020) - representing the largest year-on-year increase in Marsh's...
The Australian Reinsurance Pool Corporation (ARPC) recently released its corporate plan for 2020 to 2024, which included an in-depth report of the...
Digital payments have been the biggest beneficiary in the pandemic because of its multiple offerings. According to consulting firm RedSeer, the...
The insurance industry is pushing forward with digital transformation and a growing part of this is the deployment of machine intelligence (MI)....
The term 'impact investing' has been in fashion for a number of years, referring to investors making a positive social and environmental impact...
Google has expanded its AI-powered flood forecasting initiative (FFI) in India and Bangladesh to predict riverine floods for a landmass covering...
The rise in digital initiatives for crop insurance and supportive government initiatives such as subsidies drive the growth of the global crop...
A new study has revealed that gig economy workers in technology startups including Uber and Ola have inadequate access to health insurance even as...
Amidst the COVID-19 pandemic, it's not just groceries, but insurance claims too that are being delivered contact-free. Be it collisions or vehicle...
China Life Singapore has launched an agency channel, six years on from its formation in the city-state back in 2014.
The second cohort of regulatory sandbox projects announced by Insurance Regulatory and Development Authority of India (IRDAI) is likely to see the...
(Re)insurance markets are set to continue hardening over the next two years or perhaps even a bit longer, according to Munich Re CEO of reinsurance...
Recent floods ravaging parts of East and South Asia have once again brought the issue of flood risk to the forefront. Flood risk has, in fact, been...
It has been half a year since COVID-19 was declared a pandemic, and one of the concerns that has stemmed from the pandemic-ravaged economy is that...
Lloyd's announced a loss of GBP 0.4bn (pre-tax) for the first six months of 2020, driven by GBP 2.4bn in COVID-19 losses contributing 18.7% to the...
The (re)insurance industry is navigating one of the most significant periods of change in recent times which is altering perceptions of risk across...
A report by Kotak institutional equities research has revealed that the life industry stagnated in the month of August as a result of the COVID-19...
Motor insurers around the world look set to face even more competition as tech giant Amazon looks to enter the motor insurance market, according to...
The landmark verdict by the London High Court on Tuesday in the business interruption (BI) test case brought by the Financial Conduct Authority...
Singlife's acquisition of Aviva's Singapore unit has instantly propelled it from being a young aspirant to one of the big boys in the Singapore life...
Aon's latest report on the global reinsurance market shows that the value of reinsurance remains strong despite the many economic uncertainties...
The InsurTech sub-committee of the Singapore FinTech Association (SFA) has announced the launch of Singapore's first interactive InsurTech map,...
Zurich Insurance Group (Zurich) has agreed to sponsor a targeted, sustainable reforestation project in Brazil to convert barren farmland back into...
Strict regulation and a more risk-averse nature have hampered Japanese InsurTechs' efforts to grow in the past. However, the accelerated shift to...
Being the midst of the peak hurricane season, many reinsurers will be desperately hoping that this will be a benign year for catastrophes given how...
A new Swiss Re Institute index has revealed that 39 countries have fragile ecosystems on over 30% of their landmass due to declining biodiversity....
The insurance industry in the tiny landlocked kingdom of Bhutan is facing multiple challenges from the COVID-19 pandemic as economic activities have...
Consumers in the Asia-Pacific region are far more likely to have life insurance coverage, when compared to the US. According to a recent LIMRA study,...
In the coming years, innovation should continue apace in the ILS market with perils like business interruption or cyber finding a natural home.
The Association of British Insurers (ABI) has launched mental health standards to provide better support for customers with mental health conditions...
Life insurers have an opportunity to fulfil growing customer needs and return to profitability and growth over the next decade, if they successfully...
Workplace mental health injuries have risen in cost by 80% over the past three years while four out five Australian employees are calling on their...
HFDC Life, a private player in India, has launched the next phase of its corporate engagement programme to identify start-ups that are building...
It is fast becoming a necessity for businesses to transform digitally and use advanced technologies such as AI to become more agile and automate as...
Taiwan has proposed a hike in the premium for its National Health Insurance scheme (NHI) to maintain its sustainability, quality and fairness.
COVID-19 has shown that the lack of insurance protection is even greater amongst more complex and infrequent risks. There has been confusion about...
Aviation insurance claims predictably have experienced a significant reduction this year as a result of the pandemic, but the world's airline fleets...
The combination of climate change and unplanned urban development exacerbates flood risks for Indonesia. Due to its geographic location, Indonesia is...
The insurance industry in the Maldives is facing one of its greatest challenges as the COVID-19 pandemic brought the country's economy to a complete...
The insurance industry has not been spared the devastating impact COVID-19 has had on the global economy. There is, however, a consensus that the...
Governments across Asia undertook a range of containment measures, including increased public health advice and monitoring, restrictions to...
Global air traffic is not likely to recover to pre-pandemic levels until 2024, according to the latest forecast by Euler Hermes.
The COVID-19 situation has dramatically changed workplaces, regardless of size and industry, and employees are looking for support more than ever....
A survey conducted by the Insurance Institute of India (III) has recommended that the life and health insurance industry must increasingly target the...
The EAIC was first convened on October 18th and subsequently became the East Asian Insurance Day after the 23rd EAIC in 2006 designated the day as a...
The insurance broking industry in Australia, similar to the rest of the financial services sector, has been experiencing increasing scrutiny of its...
Very often the insurance industry is found wanting in innovation and changing with the times. During the current pandemic times it is more so. While...
In the face of prevailing uncertainty and prolonged low interest rates, close to 60% of insurers surveyed are looking to reposition their investment...
Now that the world has more or less come to grips - and is learning to live - with COVID-19, the focus is shifting from survival and damage control...
The Southeast Asian reinsurance market grew at a moderate pace in 2019, but many reinsurers still recorded underwriting losses due to pricing...
Financial and physical wellbeing are the top two causes of stress for Indians according to survey.
Navigating Arctic waters is particularly challenging for a vessel. Double the manpower is needed to navigate. Lookout shifts are kept to just one...
The Australian Reinsurance Pool Corporation (ARPC) last week published its 2019-2020 annual report in which it showcased strong performance for that...
Late October saw the launch of China's first 'Insurance Blockchain Innovation Centre (IBIC)' on the sidelines of the second Lujiazui International...
A total of $2.5bn was raised by InsurTech firms in the third quarter of this year, up 63% from the previous quarter, with the number of deals also...
The overwhelming economic impact of the coronavirus pandemic and the government-mandated lockdowns to curb the spread of COVID-19 have brought to the...
Motor insurance premiums in India declined 2% y-o-y in September 2020 which is down 4% y-o-y in the second quarter of FY21 compared to 24% y-o-y...
Southeast Asia is one of the most natural disaster-prone areas in the world. Casualties and losses continue to increase, both due to a changing...
Having an elastic workforce, one that takes into account mobile working and flexible hours, is pivotal in allowing employers to tap into the unique...
Companies cannot rely on organic growth alone, which is why programmatic M&A has been an element of every resilient company's growth. This is...
The economic impact of COVID-19 has resulted in numerous layoffs and given pause to employers looking to make new hires. Despite a drop in job flow...
Specialist research firm FinTech Global has released its 2020 InsurTech100 list that identifies the world's most innovative solutions providers that...
Over 1,800 experts from around the world met online last week for the International Conference on Inclusive Insurance 2020 (ICII) - Digital Edition...
Guy Carpenter has launched a new, fully probabilistic model for Vietnam floods that provides countrywide coverage and enables insurers to assess...
On 19 September this year, the China Banking and Insurance Regulatory Commission (CBIRC) introduced a comprehensive motor insurance reform to address...
Office of Insurance Commission, Thailand secretary-general and insurance commissioner Suthiphon Thaveechaiyagarn offered some insightful remarks for...
Phishing attacks against small and medium sized businesses in Singapore have increased by more than 60% in the first 10 months of this year - a...
The Indian life insurance segment has reported a 14% y-o-y growth in individual APE in October 2020 compared to 4% y-o-y in September 2020 and 6-40%...
The global modelled insured average annual loss from catastrophes worldwide is nearly $100bn, according to AIR Worldwide's 2020 Global Modeled...
There has been an increase in frequency of Nat CAT events in Asia Pacific, according to S&P's latest report on top risks facing the industry.
The majority of cyber insurance claims are the result of employee mistakes and technical problems, although external cyber attacks are responsible...
More than three-fourths of US businesses are underinsured by 40% or more and 44% of small and medium enterprises (SMEs) in the US have never been...
The global economic landscape will continue to evolve towards a tripolar system with the US, China and the European Union as its pillars, a result of...
In response to recent criticism about its exposure to coal-related investments, AIA said that it has been actively addressing the carbon-intensity of...
The discovery of a COVID-19 vaccine would help lower the long-tail risk facing insurers, although the path towards economic recovery remains long and...
The Indian non-life industry reported a 7% y-o-y growth in premiums, excluding crop, in October 2020 which is marginally lower than 10-11% y-o-y...
Indian health and general insurers will soon offer specific health insurance cover for treatment of vector-borne diseases like dengue, malaria and...
The IFRS Council of Japan has submitted a comment letter on the IFRS Foundation Consultation Paper on Sustainability Reporting that was published on...
Australia's private health insurers are at risk of declining profitability, especially those who lack scale or access to capital. More importantly,...
The global insurance protection gap (IPG) for the total market (life and non-life) has risen to $5.78tn- 70.8% in the life segment and 29.2% for the...
In Japan, the pandemic has had a negative impact mainly on the new policy sales while in-force business, capital and profitability have largely...
Hong Kong InsurTech StartupCare has launched an augmented health platform 'blüüm', offering medical insurance plans and health services.
Australia, Japan, Korea, and New Zealand did better than most countries in Asia Pacific region in flattening the curve of COVID-19 and containing the...
At the opening of the Singapore FinTech Festival yesterday morning, Singapore's deputy prime minister Heng Swee Keat spoke about creating a more...
In a highly competitive market with tight margins, slow growth and high operating cost, life insurers are rapidly adopting predictive analytics to...
ICICI Lombard, a private non-life player has partnered with employee health insurance start-up Plum to launch India's first technologically-backed...
Customer expectations regarding insurance are changing significantly. This is not restricted to one market or one line of business - across the board...
A RIMS-Prudent Brokers survey released at the RIMS Risk Forum India event last week has revealed that the COVID-19 pandemic has caused huge business...
For homeowners in wildfire-prone areas, as the underlying wildfire risk continues to increase, there are exacerbating pressures on the affordability...
Insurance industry losses from natural catastrophes and manmade disasters globally amounted to $83bn in 2020, according to Swiss Re Institute's...
Supportive government policies and a COVID-enforced spike in digital activity are pushing consumers - and their insurance needs - online. The growing...
The current hardening of reinsurance rates would need to continue for at least a few more years to have a meaningful impact for reinsurers, many of...
Carro, Southeast Asia's automotive marketplace, has launched the region's first-ever behaviour and usage-based car insurance (UBI) in an exclusive...
Consumers in Southeast Asia have an issue with respect to the affordability, accessibility and the education aspects of insurance. These were some of...
Bumi Cakrawala Perkasa (BCP), and ZhongAn's ZA Tech recently announced a strategic JV to create an InsurTech platform in Indonesia, aimed at...
Insurance consumers in US are generally more satisfied with the digital claims channels of their insurers than the consumers in the UK, Australia,...
With insurance companies spending money on marketing and advertising online, they are opening up gateways for fraud in different forms as cyber risks...
Lloyd's will cease all fossil fuel insurance from 1 January 2030 according to its first environmental, social and governance (ESG) report 'Lloyd's...
Beginning 1 January 2021, UK drivers to Europe may face potential delays and additional checks at ports. The additional checks could be to ensure...
Reinsurance pricing firmed up during the 1 January renewals although rate increases were more modest than what had been expected earlier in the year,...
Hong Kong-based InsurTech OneDegree has entered into a strategic partnership with Bihubao, which runs one of China's biggest online reciprocal...
Insurance Regulatory and Development Authority of India (IRDAI) has announced a standard home insurance policy which will be offered by all general...
FWD Group (FWD) has announced the launch of its first-ever podcast series, 'Changing the way people feel about insurance... with FWD', which will...
The potential long-term mental, physical and emotional impacts of COVID-19 cannot be overstated and will continue to shape the challenges that the...
Future Generali India, a private non-life insurer, has teamed up with 'Room to Read' an NGO that helps underprivileged children to improve literacy...
Max Life Insurance, a private life player in India has extended its 'protect a smile' initiative for another year, through which it will fund one...
Indian consumers now use digital platforms extensively and prefer to purchase insurance through them according to a new survey by Swiss Re.
The COVID-19 crisis has created an insolvency time bomb which is set to spark a series of insolvencies in 2021, particularly as stimulus measures...
Driven by continued capital market recovery and new equity issuance, global reinsurer capital had returned to its pre-pandemic high of $625bn at the...
SMEs in the UK are disappointed with the way insurers handled claims relating to COVID-19.
The latest incarnation of India's government-sponsored agricultural insurance programme, PMFBY, has been around for almost five years now. While it...
The Max Life India Protection Quotient 3.0 (IPQ 3.0) survey conducted by private life player Max Life in partnership with consultancy firm Kantar has...
India is likely to link motor insurance premiums with traffic violations as recommended by a working group of Insurance Regulatory and Development...
More than 81% of respondents surveyed say that technology has improved their access to health services, while 60% believe that it has led to better...
Through an event that took place last December, MSIG has managed to protect 40,000 trees, partnering with District Race Singapore 2020.
More consumers are today willing to share their lifestyle data with insurers but their trust in insurers to ensure the security of that data has...
With increased traction in online insurance sales owing to COVID-19 and resultant lockdowns, a direct-to-consumer digital insurance platform has seen...
More insurers across Asia are focusing on mental health issues which has seen an exponential increase during the COVID-19 pandemic.
The uptake and evolution of e-trading platforms have seen a sharp rise in 2020, accelerated by the necessities of COVID-19 and the push from Lloyd's...
Insured losses from major natural catastrophes in 2020 reached an estimated $78bn, the fourth largest total since 2011, and about 17% higher than the...
The major focus areas for the industry in 2021 will be on health and life products, change in the regulatory landscape and focused digital engagement.
China Banking and Insurance Regulatory Commission has revised the solvency regulations for insurance companies. The revisions will replace the...
COVID-19 has made businesses reprioritise their risks and to innovate and explore new risk management strategies.
Businesses in APAC were more prepared to react to a pandemic compared to companies in other regions, according to the results of a global survey...
Climate models are not designed for use by the financial industry, and misuse of such models could be a growing risk to financial markets, said a...
The Indian government has proposed a number of changes in the insurance sector including in the foreign direct investment (FDI) limits, changes in...
The jury is still out to decide what caused the Uttarakhand disaster on 7 February 2021 - a glacial lake burst or avalanche. The exact cause of what...
Over the last two years, the Chinese government has launched several stimulation policies, including lifting the stock holding quota for foreign...
Almost six out of 10 insurance professionals suffered depression, anxiety, emotional distress or another mental health condition during the COVID-19...
The technology sector is exposed to greater political risk than ever before and more firms are seeking political risk insurance, as the shift towards...
People across Asia are taking more control of their health and retirement planning, as they look to minimise COVID-19's longer-term impact on their...
Internet of Things (IoT) devices are posing an increasingly high risk of cyber attack to industrial and manufacturing businesses according to a new...
India witnesses close to 500,000 road accidents every year resulting in over 150,000 deaths, serious injuries and damage to vehicles and insured...
Indian general insurer ICICI Lombard has launched a 'corporate India risk index' to help companies understand the level of risk that their business...
Singapore has seen nearly 8.5m web threats in 2020, an 82% increase from the 4.6m in 2019, according to the latest research from Kaspersky. Despite...
Internet of things (IoT) devices are posing an increasingly high risk of cyber attack to industrial and manufacturing businesses according to a new...
A new global programme will make compensation available to eligible individuals in 92 low- and middle-income countries without the need to resort to...
As society becomes increasingly digital savvy, more and more people are turning to online reviews on rating sites, social media and online forums....
The health protection gap in Asia was valued at $1.8tn in 2017, 10% of average household income, and is projected to widen more quickly and may...
More than half (52%) of financial institutions say they expect to have more gig-based employees in the next three to five years, according to PwC's...
Life insurance is the most preferred financial tool by individuals across India today.
The German-headquartered reinsurance group Munich Re closed the year 2020 with a profit of EUR1.2bn ($1.46bn) despite the year being marked by high...
Sri Lankan life insurer Union Assurance has created history in the market with a record number of 172 Million Dollar Round Table (MDRT) qualifiers...
Three specialist firms in the insurance industry will create a secure InsurTech platform that will support cryptocurrency investors in insuring...
The India Protection Quotient (IPQ) 3.0 survey has revealed that 57% of urban India's salaried professionals feel that the group term life (GTL)...
The UK Supreme Court issued its decision in the Financial Conduct Authority's (FCA) BI test case on 15 January, ruling that some forms of BI...
The Insurance Regulatory and Development Authority of India (IRDAI) and Indian National Shipowners Association are in talks to develop a protection...
Insurance pricing will continue to increase across most business lines globally this year as carriers look to mitigate poor underwriting performance...
One of the things the pandemic has highlighted over the last year is the importance of transparency and clear wording in the policies of insurers, as...
The world's four largest reinsurers recorded a 69% fall in net income in 2020. In 2019 the net income of these four insurers (Munich Re, Swiss Re,...
The Association of British Insurers (ABI) has said that UK businesses should ensure they are adequately insured against cyber risk. A poll of ABI...
On Monday, 8 March 2021, supply chain financing specialist Greensill Capital (Greensill) filed for insolvency after Credit Suisse decided on 1 March...
The Indian life insurance industry witnessed a strong performance in February with individual annual premium equivalent (APE) growth at 23% y-o-y in...
The takaful segment in Indonesia accounted for 7% of the country's overall insurance market - in terms of new business premiums - in the first 11...
The first insured bitcoin fund, BCMG Genesis Bitcoin Fund-I (BGBF-I) was launched on Monday to meet growing global interest from institutional and...
The increasing number of two-wheeler accident deaths on Indian roads has prompted one life insurer to extend its road safety campaign across the...
New regulations in Thailand allowing insurance companies to leverage insurance capital bonds (ICB) as an alternative source of financing will boost...
A new survey of Singaporeans' retirement saving priorities and attitudes has revealed that 72% of retired respondents regret not saving for...
A climate-risk insurance pilot scheme launched in Bangladesh last year by the World Food Programme (WFP), Oxfam Bangladesh and Weather Risk...
Pet insurance in mainland China is still in its nascent stages - options are few and limited in their scope - and more than half of the pet parents...
The coronavirus pandemic has changed what consumers consider most important when purchasing an insurance policy according to a survey by the...
Companies need to prepare for more political disturbances and violence in the year ahead.
Indian private non-life insurer, ICICI Lombard has launched a voice bot that will assist customers to instantly register motor claims, thereby...
The combined ratio for motor business in Malaysia improved by 6% y-o-y to 98.3% in 2020 as lockdown measures imposed for much of the year led to a...
Insurance Regulatory and Development Authority of India (IRDAI) has allowed the sale of short term COVID-19 insurance policies till 30 September 2021.
Insurance companies and brokers must go further to support the fast-growing digital health and wellness sector with more specialist coverage that...
Malaysian Re released the second issue of its Malaysian Insurance Highlights 2020 in late February, covering the development of the insurance...
A health insurance sector report has revealed that standalone health players are best placed to capitalise on the profitable individual health...
Global insured losses from disasters in 2020 reached $89bn, according to Swiss Re's recent sigma report. The figure is the fifth highest on sigma...
Financial institutions are spending, on average, 14% of annual operating costs on change management functions to drive greater productivity gains, a...
International CAT loss activity in 2020 was well below the long-term annual average and the benign trend has continued in the first quarter of 2021...
There has been a notable improvement in the amount of the overall sum insured in health insurance policies that consumers opted for in financial year...
As the UK exits lockdown, flexible and remote working will remain an important focus area for the members of Chartered Insurance Institute (CII) and...
Aegon Life, a private digital life player in India has introduced a work-from-anywhere (WFA) policy for all its employees that gives them the...
Four start-ups have been selected under the second edition of the InsurTech accelerator programme 'Max Life Innovation Labs 2.0'.
The overall wellbeing in Hong Kong improved slightly by 0.4 points between August and October 2020 (from 56.4 to 56.8) and was lower than the global...
The majority of global CEOs will wait for more than 50% of the population to be vaccinated before returning to the office and nine out of 10 leaders...
Insurers in Singapore that utilise digital channels to facilitate interaction with their customers were rated more highly, according to the finance...
Losses emanating from the heavy rainfall and severe flooding in Australia's eastern states in March this year are expected to put pressure on...
ZA Tech Global has opened its first Asia Fintech Centre (AFC), which will specialise in solving specific use-cases in insurance and financial...
There is a large gap of 54% in the value of COVID claims submitted and COVID claims settled by the general insurers as on 31 March 2021 according to...
Companies are increasingly using captive insurance to self-insure their risks, as rate hardening and COVID-19 disruption affect commercial insurance....
The COVID-19 pandemic has changed consumer expectations and needs for insurance and small ticket insurance plans are today gaining traction across...
Mental health problems caused by the COVID-19 infections will be the next pandemic according to a new study published by the Barcelona Institute for...
Lower-for-longer interest rates have a number of implications for the credit profiles of Asia-Pacific (APAC) insurers, with the overall impact...
There is a major move online by the consumers for the insurance purchase process for personal products like life, health, and property and casualty...
Life insurers in India reported high individual APE growth of 90% y-o-y in March 2021 on a low base translating to 40% y-o-y growth in the fourth...
The Association of British Insurers (ABI) has launched a free online mental health training platform for improving the level of understanding of...
COVID-19 has shown that pandemic-related business interruption (BI) is directly linked to the decisions of governments to implement lockdown...
AXA is the first all-lines insurer in Switzerland to allow its customers to pay their bills with bitcoin. This represents an investment in the...
A survey of 5,000 people in Asia found that people are more than minimally aware of the benefits that accompany a healthy lifestyle but are still...
SCOR has announced that it will reduce the carbon intensity of its corporate bonds and listed equities portfolio by 27% by 2025, in order to reach...
The Delhi high court has asked the Insurance Regulatory and Development Authority of India (IRDAI) to explain the basis on which it has been...
India's non-life segment delivered premium growth of 7% in financial year 2020-2021, despite a 2% y-o-y decline in motor premiums.
A webinar organised by the Insurance Institute of India (III), along with the Rauch Education and Academy of Crisis Management and Auditing (ACMA)...
Hong Kong's Insurance Authority has announced the details of the two-year pilot insurance-linked securities (ILS) grant scheme (the grant scheme)...
Global commercial insurance prices increased by 18% in the first quarter of 2021 according to the Global Insurance Market Index released by Marsh.
The pandemic-propelled e-commerce boom could spark a surge in warehouse fires as the demand for storage and distribution spaces rises.
Insurance Regulatory and Development Authority of India (IRDAI) has sought to increase insurance penetration in rural areas of the country through...
Jubilee Life, a private life player in Pakistan has collaborated with Charter for Compassion (CfC), a not-for-profit in the development sector, to...
AXA has declared that it will no longer be writing cyber insurance policies in France that reimburse customers for extortion payments made to...
SCOR and HealthyHealth Group are partnering to build a digital underwriting process that uses digital health data to provide instant underwriting...
To coincide with Britain's mental health awareness week, QBE Insurance has developed a customer self-assessment tool to enable companies to assess...
With India facing the full fury of the second COVID-19 wave, insurers are contributing resources to help in the fight and also giving priority to the...
AXA has revealed that several of its Asian businesses were hit by a 'targeted ransomware attack'. The hackers have claimed to have seized a large...
Current cyber security threats are so sophisticated that basic security measures are no longer sufficient to protect organisations from cyber crime,...
Insurers need to rethink their distribution models to offer uninterrupted service, superior customer experience and maximum value as the industry's...
The Australian Treasury has convened a cyclone reinsurance pool taskforce to consult with industry and community representatives, as well as other...
Insurance brokers should build on existing good practice by educating consumers about the products and services available according to a new report...
Increasing frequency of natural catastrophes has created demand for reinsurance in the Asia-Pacific region as domestic insurers seek financial...
Private life insurer HDFC Life has launched a digital campaign to spread positivity and to encourage individuals to make a difference in these...
Asia remains vulnerable to significant business disruption according to the newly released 2021 FM Global Resilience Index, the definitive global...
The final rules for increasing the foreign investment ceiling from the current level of 49% to 74% in the Indian insurance industry have been...
Heavy rains in the Canterbury region of New Zealand over the weekend (30-31 May 2021) have caused huge floods and damaged numerous homes and threaten...
Chubb has released a report, 'Digital Business Accelerated', which explores how small and mid-sized businesses are managing their digital...
Having recorded 3.5% growth in direct premiums written to THB253bn ($8.3bn) in 2020, Thailand's non-life insurance market is expected to continue...
A number of international insurers including MetLife, AIA Group and Sun Life have stepped in to help India with resources to fight the second...
The total cost to be borne by the global insurance industry to implement IFRS17 is estimated to be $15-20bn according to a new worldwide survey by...
Aviva UK has uncovered more than 12,000 instances of insurance claims fraud in 2020 worth more than £113m ($160m). Fraudulent policy applications and...
Aviva Insurance and Darwin Innovation Group have announced a five-year strategic partnership, beginning with collaboration on an autonomous vehicle...
Himalayan Reinsurance Company will be the second local reinsurer in Nepal. The company was granted an operating licence for conducting reinsurance...
Many companies in the region are still falling short when it comes to fostering an LGBTQ+-friendly working environment through diversity and...
In his closing speech for this year's Insurance Development Forum, UN secretary-general Antonio Guterres called for the insurance industry to utilise...
Hong Kong-based Azure Risk, a digital provider of marine and freight forwarding insurance, has been granted licence by the Hong Kong Insurance...
AXA Hong Kong and Macau has released a video series to inspire and encourage customers to support green initiatives in their everyday life.
Parhelion, world's first fully sustainable insurer, will focus its underwriting approach on sustainability and environmental, social and governance...
Half of respondents polled in Asia were more likely to buy insurance through online platforms, according to a consumer survey by Swiss Re.
Indian credit rating agency, ICRA, expects the Indian non-life industry to grow moderately in FY2022, supported by growth in the health and motor...
Private life insurers reported weak individual APE growth at 5% y-o-y in May 2021, on a low base of 31% y-o-y decline in May 2020.
India is the second largest insurance technology market in the Asia Pacific accounting for 35% of the $3.66bn of the venture capital coming into the...
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has announced the winners of the 'making a difference' recognition awards.
Lloyd's chief of markets is placing under-performing syndicates under the microscope. During a press briefing held last week, Lloyd's chief of...
More than two thirds of drivers (69%) of electric vehicles are concerned about insurance cover for their electric vehicle should it be damaged when...
With the cyber risk hazard environment - ransomware, business interruption and aggregation - worsening significantly, prospects for the cyber...
China Reinsurance Company (Hong Kong) (China Re HK) has had its financial strength rating upgraded to A (Excellent) from A- (Excellent) by AM Best,...
Japanese insurance company Sompo has launched a new insurance product to insure e-commerce stores on platforms such as Yahoo! Shopping, Shopify and...
Business travellers around the world believe the COVID-19 pandemic and related travel restrictions have negatively impacted their effectiveness on...
On 8 June 2021, Life Insurance Association of Japan (LIAJ) vice chairperson Toyonari Sasaki had a meeting with the Italian minister of economy and...
Covéa Insurance UK and Vitality have launched a new car insurance product that incentivises and rewards safer and greener driving. The new cover will...
Zurich Insurance (Hong Kong) has announced that the new local subsidiary known as Zurich Life Insurance (Hong Kong) (Zurich Life) has been granted a...
Australian underwriting agency ProRisk has ramped up its broker education webinars for the new financial year, which will focus on building broker...
The International Accounting Standards Board (IASB) will propose a narrow scope amendment to IFRS17 Insurance Contracts (IFRS17) to permit a...
Ping An Insurance (Group) of China (Ping An) is the top brand among global banks and insurance companies in the 2021 'Top 100 Most Valuable Global...
A recent survey has revealed that the relationship between customers and general insurers in the UK still has room for enhancement as the country...
South Korean insurers are likely to see a claim of KRW360bn ($317.13m) for the fire loss of the Icheon based logistic centre of the ecommerce company...
On 25 June, MS&AD adopted a policy that it would no longer insure or invest in new coal power plants, becoming the first Japanese insurer to make...
Techcombank, a commercial bank of Vietnam, and InsurTech CoverGo will jointly launch a distribution tool for life insurance products across more than...
Indian insurer Tata AIA Life Insurance has extended its COVID Kavach insurance cover to over 41,000 advisers and their families.
Power companies are facing challenges arising from energy transition and the move to cleaner fossil fuels, according to Willis Towers Watson's (WTW)...
Indian non-life insurer IFFCO-Tokio will leverage AI powered digital tags that are based on muzzle identity to help them with cattle identity issues...
AXA Hong Kong has launched a programme to support local tourism and encourage citizens to get vaccinated.
Workers in emerging markets are retiring without sufficient assets to cover their pension needs, creating a total pension shortfall of about $106tn,...
The Australian government has started the 2021 triennial review of the Terrorism Insurance Act 2003.
The American Property Casualty Insurance Association (APCIA) has announced its cyber extortion/ransomware guiding principles that will provide...
Many insurance consumers who borrow money to pay for insurance policies are taking on extra jobs and selling their cars to continue their covers.
HSB Engineering Insurance (a part of Munich Re) has reported 100% increase in operational plant fire claims in 2020. UK claims data shows...
Young families in Singapore have deprioritised planning for their retirement because they are spending at least 2.5 times more of their monthly...
The sudden halt imposed on the aviation industry by the COVID-19 crisis hit the sector hard. In April 2020, two-thirds of the global commercial...
A report by Fitch Solutions says that the Pakistan government's thrust on universal health insurance will help the country in its healthcare delivery...
Private life insurers in India reported weak individual APE growth at 5% y-o-y in May 2021, on a low base of 31% y-o-y decline in May 2020.
The global cyber insurance market grew by 34% in 2020 after a slow growth of just 4% in 2019 and gross written premiums (GWP) topped $7bn in 2020...
Australian Reinsurance Pool Corporation (ARPC) has released the results of the first survey of its insurer customer stakeholders. The results reveal...
The insurance industry should focus on product innovation for climate transition risk mitigation so as to facilitate the shift in the wider economy...
Eight of the world's leading insurers and reinsurers have established the UN-convened Net-Zero Insurance Alliance (NZIA) as founding members,...
Yak, a bovine mammalian species native to Himalayas, will now be covered by insurance against accidents, natural catastrophes and some more risks.
Japan's decision to bar spectators from the Tokyo Olympics is likely to cost the global reinsurance sector $300m to $400m due to pay-outs for ticket...
Almost three in five employees in UK are neglecting their physical health due to work and half of them don't know how much to save for retirement...
Findings from a new report by Financial Rights Legal Centre (FRLC), Australia reveal that good consumer experiences are far from universal.
Australia's general insurer major IAG will spin off its bespoke workforce management app, Attune, in a joint venture with Terem Technologies.
MSIG Insurance (Hong Kong) has seen a significant increase in customers using its EASY Claims online platform to submit claims during the COVID-19...
The world has become a lot more concerned with the environmental impact that companies have, and what they are doing to help reduce not only their...
AXA Hong Kong and Macau?has launched a unique comprehensive critical illness protection series covering illnesses, ranging from the most common ones...
The confidence is high and appetite strong in the London professional indemnity (PI) market despite a trinity of challenges facing the industry...
Scenario planning, agile business strategies, a focus on long-term vision, better and improved risk management and more frequent and impactful...
AXA Hong Kong and Macau has launched a protection plan for students studying abroad with home-to-home coverage, even during internship, working...
Global natural disasters in the first half of 2021 caused total economic of approximately $93bn - 32% lower compared to the 10-year average of $136bn...
Japanese corporates can now avail parametric earthquake insurance using the compact seismograph, ACCURA certified by the Japan Meteorological Agency.
Life and property and casualty (P&C) insurers are set to accelerate their use of automation over the next five years as they look to improve the...
The Life Insurance Association of Japan (LIAJ) chairperson Yukinori Takada released a new policy statement when he took the post on 16 July.
Driven by convenience, the vast majority of Singaporean digital bank customers (83%) would be highly interested in receiving embedded insurance...
Rates for commercial insurance Asia Pacific saw a slight dip in growth in the second quarter of the year, with a 6% growth in Q2, compared to 7.9% in...
Indian private non-life insurer, ICICI Lombard has launched a first-of-its-kind cashless outpatient offering in India in partnership with SVAAS...
A survey on the impact of the COVID-19 pandemic on insurance fraud risk mitigation and investigation has revealed that India's insurance industry has...
European insurers' exposure to macro risks remains at high levels while all other risk categories remain at medium level according to the European...
The Australian Insurance Law Association (AILA) has launched its prestigious Gill Award for its members who are Australian residents and is offering...
A digital insurance claims platform, RightIndem, and Mastercard have forged a new partnership to make insurance claim payments process quicker and...
A global comparison survey has revealed that over 90% of bank customers in India want embedded insurance offers based on transaction data.
Olympic-related phishing websites designed to steal users' credentials are just part of various online fraud schemes designed to take advantage of...
Three out of four Indians retiring over the next 18 months fall short of adequate health insurance coverage and intend to increase the coverage...
Meiji Yasuda Life Insurance has announced that it has set new goals for reducing CO2 emissions in order to contribute to the creation of a...
Indian insurers are yet to settle about 306,000 COVID health insurance claims totalling up to $1.44bn as of 6 August 2021. These are almost one-third...
A government-backed insurance scheme worth over GBP750m ($1.042bn) will help the live events sector in the UK plan with confidence through to next...
The second quarter of 2021 was record setting for the global ILS market, with approximately $5.6bn of notes issued in 2Q21, the first two quarters...
AXA Hong Kong has launched a surgical insurance plan based on the four levels of the country's Voluntary Health Insurance Scheme (VHIS) schedule of...
Global insurance broker Marsh will collaborate with Amazon to support its new digital insurance network, Amazon Insurance Accelerator, where small...
The biggest stress for the British is the health of their loved ones, according to a customer survey from MetLife UK. The survey has analysed the...
Prudential Assurance Malaysia (PAMB) has launched UnderwriteMe's underwriting engine, enabling the insurer to provide faster underwriting decisions...
Life Insurance Corporation (LIC), the sole Indian life insurer in the public sector saw its death claims surge by over 17% in the financial year...
The industrial insurer HDI Global has created a new solution for digitally-based remote work processes.
Newspaper headlines were abuzz this week with the news that HSBC Insurance had pitched to buy AXA Singapore for $575m. But why? We spoke to HSBC...
Sompo International Holdings, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, will offer a parametric solution...
Delta Insurance Singapore intends to provide easy access to affordable cyber cover for small-and-medium enterprises (SMEs), which are especially...
Tokio Marine Holdings announced earlier this week that its Singapore branch had suffered a ransomware attack. The insurer was light on details,...
HDFC Life, a private life insurer, has announced the latest findings of its Life Freedom Index (LFI) study conducted along with Nielsen 1Q across 14...
The Insurance Institute of India (III) in order to promote insurance awareness and literacy has been collaborating with various stakeholders to...
ICICI Lombard, a private non-life player in India has set a new Guinness record, by registering over 30,000 people for vaccinations in just a week.
At the 6th Insurance Leadership Forum 2021, a live poll found that the future of work was hybrid, with 88% of respondents selecting that option: 11%...
More than half of internet users (53%) don't trust that the advertisements on search engines are placed by legitimate financial services companies or...
The COVID-19 pandemic has been a revelation for most businesses and has either caused them to define a new strategy or fail due to their inability to...
The mortality protection gap (MPG) in Hong Kong is estimated to be HK$6.9tn ($886bn) in 2019, translating into HK$1.9m or 5.7 times the weighted...
Askrindo Indonesia has implemented Smart Recon solution to modernise and maximise its growing operations that include manual spreadsheet-based...
A report by JBA Risk highlights the massive economic losses in China from floods following heavy rainfall in June and July and the impact of typhoon...
HSBC Insurance (Asia-Pacific) Holdings' (HSBC Insurance) recent agreement to acquire AXA Insurance (AXA Singapore) demonstrates the continued growth...
In UK 43% of insurance brokers expect to see their business grow in second half of 2021 and less than 28% anticipate a decline in their business. The...
Insurance professionals believe personal skills are the most important competency requirement for fresh entrants to the profession to possess.
The reinsurance buying behaviour of Chinese agriculture cedants is expected to change for the next January renewals due to the recent formation of...
A survey conducted by private non-life player ICICI Lombard has revealed that over the past 18 months, work stress has affected the mental health and...
The 2020 North Indian Ocean (NIO) tropical cyclone season was the costliest in recorded history with damages amounting in excess of $16bn according...
A new report by Lloyd's explores the transformation of the geopolitical risk landscape over the last decade and focuses on the 10 most pressing risks...
The Insurance Authority of Hong Kong (IA), China Banking and Insurance Regulatory Commission (CBIRC) and the Monetary Authority of Macao (AMCM) will...
More Korean tech companies are expected to enter the country's insurance market as online distribution becomes more widespread due to the pandemic as...
An Asian health InsurTech has announced collaboration with several insurers across countries from Asia, Europe and Latin America. It has also spread...
Recent studies have shown that people have negative attitudes to using autonomous systems because they don't trust them. Moreover, research shows a...
Zurich Insurance is initiating global measures to accelerate cuts in carbon emissions from its operations. It is also expanding its products and...
The Blockchain Insurance Industry Initiative (B3i) will develop distributed ledger technologies (DLT)-based solutions for the management of...
London-based InsurTech, Blue Marble, has launched a pilot weather-index based insurance programme for small holder farmers in rural Pakistan.
The insurance sector has important roles to play in environmental conservation as well as the carbon-free society. A new ESG initiative by Japanese...
The convergence of tangible and intangible challenges facing the (re)insurance industry is creating one of the most dynamic and potentially volatile...
Insurance Regulatory and Development Authority of India (IRDAI) has extended the validity of the two COVID-19 specific health insurance policies...
Younger business owners have been able to respond particularly strongly to the challenges posed by the pandemic while the oldest decision makers...
Reinsurance major Hannover Re anticipates a continuing trend towards higher prices and improved conditions in property and casualty reinsurance for...
HDFC Life and IvyCamp have launched the fourth phase of Futurance, an on-going corporate engagement programme that identifies start-ups developing...
How insurance professionals and financial planners kicked off their careers in the industry has been revealed by a poll of Chartered Insurance...
Confidence is recovering fast in the MGA market despite the pandemic according to a recent survey by law firm Clyde & Co. The survey was conducted in...
In simple activities, cognitive diversity is not helpful, said consultant and The Times journalist Matthew Syed in a recent podcast.
InsurTech Wingsure has entered into an agreement with the government of the south Indian state of Telangana to provide deep-tech-based personalised...
The United Nations Development Programme (UNDP) has launched a new initiative - the Insurance and Risk Finance Facility (IRFF).
Digital disruption has been pervasive across the global insurance sector for the last decade. With various use cases ranging from blockchain and...
Singaporeans aged 35 to 54 - also referred to as the 'sandwich generation' - appear to be hit the hardest from the financial and health toll of the...
UK InsurTech Superscript and Amazon Business will provide tailored insurance for micro and small businesses as well as sole-traders through Business...
As work-from-home (WFH) and hybrid working becomes more common, how will organisations look at the career progression of employees?
A survey undertaken by private non-life insurer ICICI Lombard to assess the awareness and understanding of cardiovascular diseases in the...
PERILS has released its industry loss footprint for the New South Wales and Queensland floods of March 2021.
Risk and insurance managers are important for an organisation's resilience according to a new report published by Federation of European Risk...
Despite the ongoing health crisis, climate change and cyber risks have come back to occupy the first two slots in the rankings of future risks...
Authority Hub, a digital solution improving insurers' governance, visibility and control of authority agreements, has now gone live. The platform has...
Since the pandemic stopped almost all travel in 2020, travel insurance has been struggling to maintain relevance. However, travel corridors have been...
India's rural InsurTech GramCover has raised $7m in Series A fundraise from Siana Capital and Inflexor Ventures.
New data from Chubb Insurance and the National Center for the Middle Market (NCMM) show that middle market companies are finding risk management...
A consumer court in India has asked an insurance company to settle the health insurance claim of a patient addicted to smoking and afflicted with...
Private non-life player Future Generali (FGII) in order to create awareness on mental health and wellbeing, has announced a day off for its employees...
Over 59% of 1200 US business leaders say they worry some or a great deal about cyber threats as compared to medical cost inflation (53%) and...
Tower Insurance and FRISS will collaborate to expand automation to detect genuine and suspicious claims in real time and allow for a faster process...
Cases of depression and anxiety surged by more than a quarter globally during the pandemic, especially among women and young adults according to...
Brokers are under more pressure than ever according to Ecclesiastical Insurance's latest Broker Wellbeing Survey.
A report by Insuramore global rankings said that the Asia-Pacific region is experiencing rapid growth in premiums and is today home to some of the...
India's life insurance sector witnessed strong growth in September with a 22% y-o-y growth over the same period last year.
Hannover Re is committing to achieve net zero emissions in business operations by 2030 and in its reinsurance portfolio and investments by 2050. In...
To commemorate the fifteenth annual "East Asian Insurance Day" (October 18), which was established by the East Asian Insurance Congress (EAIC), I...
Allow me to express my deep gratitude for the invitation to deliver a short message of goodwill in keeping the spirit of EAIC and its motivational...
On the joyous occasion of the East Asian Insurance Day, which was initiated in 2006, I would like to convey my heartfelt greetings to the East Asian...
The 2021-22 edition of ReMark's global consumer study on life insurance consumers, ReConnect Life, looks at the issues the life insurance consumers...
Today, October 18, marks "East Asian Insurance Day," which coincides with the historic first East Asian Insurance Congress held in Tokyo on October...
Insured losses from natural catastrophes are expected to be at or above the budget expectations of global reinsurers in 2021 as well, the fifth year...
Specialist insurer Beazley has received in principle approval from Lloyd's to establish the first ESG Syndicate 4321 from 1 January 2022.
Costs for large US employers that pay for their employees' medical care will increase on average 5% to more than $13,000 per employee in 2022...
Speakers at the Annual Insurance Summit organised by the National Insurance Academy recently emphasised the need for collaboration between different...
Global risk and reinsurance specialist Guy Carpenter has launched a wildfire risk score (WRS) designed to help clients manage their exposure to the...
Recognising the need to invest in caring for employees' mental wellbeing, MSIG Asia has been ramping up online activities to engage its employees...
The industry must continue its efforts to address cyber risk better said AIG president and CEO Peter Zaffino, during an Aon fireside chat.
I would like to deliver a message on the occasion of the East Asian Insurance Day for 2021.
One of the world's largest renewable energy infrastructure projects, the A$30bn ($22.4bn) Australia-Asia PowerLink (AAPowerLink), which will supply...
Australian Reinsurance Pool Corporation has announced excellent performance operationally and financially during 2020-21, according to its annual...
The main aim of insurers' diversity and inclusion programmes is to improve workplace culture according to a new survey conducted by the Chartered...
The International Conference on Inclusive Insurance (ICII) held this week highlighted that while economies in the northern hemisphere slowly begin to...
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) announced the winners of the 17th Australian Insurance Industry Awards on...
A Swiss Re Institute research projects the digital property and casualty (P&C) personal lines market could reach a cumulative $7.5b in premiums over...
In order to support the accelerating changes in the global sharing economy and mobility sector, new forms of insurance, including programmes to...
Cyber attacks and data breaches rank first on the list of the top 10 risks in Aon's 2021 Global Risk Management Survey. Looking across the survey,...
A new global partnership will focus on the impact of climate change on extremism and terrorism. The partnership will bring together the National...
In the run-up to COP26, AXA has extended its commitment to fight climate change and protect biodiversity. AXA announced several new milestones in its...
Six in 10 US insurance companies agree that demand from stakeholders to consider environmental, social and governance (ESG) factors in their...
Over 40% of Hongkongers have plans to emigrate, estimating that they require up to HK$4.9m ($630,000), according to a survey by digital life insurer...
AXA Hong Kong and Macau has launched an energy saving campaign to encourage customers to go green by saving energy and reducing carbon emissions in...
The Insurance Task Force (ITF) has launched its Disaster Resilience Framework for climate-vulnerable countries. The new framework is aimed at...
In order to promote safe riding skills and road safety, Indian private non-life insurer ICICI Lombard has tied up with Vega helmets to offer a...
MSIG Hong Kong has adopted InsurTech CoverGo's unique no-code technology to build and launch MediGo, a new end-to-end system, designed to manage all...
AXA XL has launched Coastal Risk Index (CRI), a tool that maps current and future flood hazard resulting from climate change and integrates the...
AIA Singapore has launched the AIA Better Lives Fund, an initiative that aims to raise funds to support disadvantaged children, youths and their...
There are uncertainties in climate models and its data output, but there is mounting evidence that points to more frequent or intense heavy rainfall...
A new report, Insurance 2030: As Risks Mount, Insurers Aim to Augment Protection with Prevention by Bain & Company predicts that global insurance...
AXIS Capital has launched a supplier diversity policy (SDP) by engaging certified diverse business enterprises (DBEs) in its procurement process.
Hong Kong still has one of the higher stress levels across the markets surveyed, with unmanageable stress level raised to 18% in April 2021 (from 14%...
Climate change is an irrefutable reality. Its effects are in plain view and there will be further adverse consequences if left unchecked. A recent...
Annual family premiums for employer-sponsored health insurance rose 4% to average $22,221 in 2021 according to the 2021 benchmark KFF Employer Health...
International Union of Marine Insurance (IUMI) has released its analysis of the global marine insurance market in 2021.
Aviva Insurance UK has called for more legislative protection for consumers from online financial fraud. It has urged the government to include...
A new online 'Disaster Recovery Hub' comprised of more than 100 major disaster case studies and covering different events in different locations has...
The Chartered Insurance Institute (CII) has said members whose social media accounts are linked to their professional organisation should ensure...
Over half of insurers identified geo-political risk as the most serious macro risk to their investment strategy, said Blackrock. This reflects the...
The impact of COVID, emerging digital business models and huge volumes of data are shaking up the traditional reinsurance ecosystem across Asia. How...
A survey by InsurTech OneDegree Hong Kong has revealed that the majority (96%) of Hong Kong homeowners do not fully understand their fire insurance...
Indian life insurers have reported strong value of new business (VNB) growth in the second quarter of 2022, on the back of high annual premium...
ICEYE, a provider of flood hazard data has collaborated with Aon, to provide insurers with flood hazard data following severe flooding events in...
In its endeavour to give back to society, ICICI Lombard General Insurance will offer support for the treatment of underprivileged individuals...
Klook, the travel and leisure booking platform and ZA Tech Global, the technology venture backed by Softbank's Vision Fund 1, in a joint venture will...
The economy, worker shortages, Brexit, COVID-19 and reputational damage are the biggest risks to UK businesses according to Aviva Insurance's second...
US insurers are continuing to take a hard line on underwriting and pricing cyber coverage according to The Council of Insurance Agents & Brokers'...
The Foundation for the Advancement of Life & Insurance Around the world (FALIA), which conducts training programmes, essay competition, and other...
The Sri Lankan government's proposal to introduce new one-off as well as recurring taxes on companies could constrain the near-term profitability of...
A survey new survey says Singapore's millennials are the new 'sandwich generation', who need financial solutions to accommodate their modern...
Australian Reinsurance Pool Corporation (ARPC) and University of Queensland (UQ) Business School will jointly conduct new research on the evolving...
An overwhelming majority (95%) of senior insurance executives believe that climate risk will have a significant impact on portfolio construction and...
The Insurance Board, Nepal's insurance regulator, in a recent circular has mandated all life and non-life insurance companies to seek 100%...
The COVID-19 pandemic has put risk management into the centre stage and given recognition to self-insurance said speakers at the virtual Asian...
A new report from Allianz Global Corporate & Specialty (AGCS) says that the global construction market is set for a sustained period of strong growth...
Cyber insurance has changed from a product that was once hard to sell to one that's hard to buy according to Emergence Insurance.
The reinsurance industry is on the cusp of huge technological change, with common data standards and open data platforms set to deliver faster, more...
Aon and InsurTech CarrierHQ have together launched a usage based last mile delivery commercial insurance programme in the US.
In this video, we speak with Than Hien Anh, Chairperson of BaoViet Life about the trends and development of new life products in Vietnam, making...
Tokio Marine Life Insurance Malaysia (TMLM) has selected a product developed by Munich Re Automation Solutions, the InsurTech arm of Munich Re Group,...
Global advisory and broking and solutions company Willis Towers Watson (WTW) has acquired Australia-based aviation industry specialist Aerosure.
Employee data leakage is one cyber incident that organisations prefer not to disclose according to a new report by cyber security firm Kaspersky.
The Supreme Court of Italy has ruled that workers who suffer an accident when temporarily stepping out of the office for a coffee break are not...
Indian InsurTech Loop Health will help the next generation of young entrepreneurs at various stages of their start-up incubation by taking care of...
A new paper from insurance leaders' group ClimateWise maps out challenges and improvements to new independent underwriting tools to support the...
India, with a bovine population of 303.7m, is the largest milk producer in the world today. The Indian government's national digital livestock...
Whilst many organisations are aware of the short-term technical and operational impacts of cyber incidents, they are often unprepared for the longer...
A new study has revealed that mature markets represent the majority of not only historical value, but also future growth and value potential with...
As the year 2022 starts in earnest, I wish everyone a very happy New Year.
The Chartered Insurance Institute (CII) has called upon the insurance community to address the unmet needs of society and show the true value of...
Electric autonomous vehicles will certainly help businesses reduce their carbon footprint, however, the evolving technology could also bring up...
The Society of Insurance Broking of Chartered Insurance Institute (CII) has detailed the challenges and opportunities facing the profession in the...
Indian private life insurer, PNB MetLife has launched a 'Glow Green' initiative through which it will plant 40,000 saplings over the next three years...
InsurTech Novidea has revealed trends that will drive digital transformation in the insurance market in 2022, which includes trackable hybrid...
The Society of Claims Professionals of Chartered Insurance Institute has outlined its plans to assist its members both individually and collectively...
The Industry and Regulators Committee of the House of Lords has launched an inquiry into the regulation of the London market - the UK's commercial...
John Foord, the insurance-focused global asset valuation specialist, has launched a cloud-based platform providing insurers and reinsurers, in...
The insurance industry in Sri Lanka was able to achieve a growth of 6.19% in terms of overall gross written premium (GWP), during Q3,2021, recording...
AIA Singapore has unveiled the report from a study it conducted on retirement planning among Singaporeans.
High premium and poor awareness could be the two main reasons for the low penetration of insurance in India where a majority of people are either...
Global challenges, such as technological advances, climate change and COVID-19, have had a profound impact on the way insurance underwriters write...
MSIG Malaysia has launched an initiative to raise funds to provide relief to victims of the floods that affected parts of the country in December...
The Chubb Charitable Foundation has committed a US $10,000 grant to Dementia Singapore - a social service agency specialising in dementia care,...
Swiss Re Corporate Solutions has partnered with NORD/LB, one of the leading renewable energy financiers, on a US $500m ESG co-investment programme to...
With the pandemic at full throttle, markets in APAC saw an increase in use of digital transactions and payments, which increased the risk of fraud...
Chubb has launched a no-questions-asked policy cancellation and refund campaign in Singapore for all Chubb-underwritten individual single-trip travel...
The individual APE growth for private life players in India slowed down to 6.9% y-o-y in January 2022 from about 30% y-o-y during the past two months.
The Summary of Natural Catastrophe Events 2021, published by Gallagher Re, says that insured losses from major natural catastrophes in 2021 -...
The Global Federation of Insurance Associations (GFIA) has asked for clarifications from the South Korean authorities regarding their latest data...
Finnish microsatellite manufacturer ICEYE believes the insurance industry needs faster access to more accurate, actionable truth data for flood...
Insurers have been urged by the rising stars of the profession to innovate now or risk becoming irrelevant to the public.
There is a considerable lack of confidence on the part of global executives in their own organisations' approach to reputational and ESG 'risk...
P&I clubs across the world have announced general rate increases ahead of the February renewals for ship-owners, said AM Best. This is the third...
Manulife Hong Kong reported strong growth in core earnings, new business value (NBV), annualised premium equivalent (APE) sales and agency numbers....
ICICI Lombard, a private non-life player in India, has introduced an industry first video calling facility for all its customers purchasing health...
FWD Insurance has extended the coverage period of its free special benefit against vaccination complications to 30 June 2022.
Consumer finance provider Home Credit and MSIG announced a strategic partnership to expand insurance offering and support financial inclusion in...
Two years after the pandemic hit the world, the global economy continues to recover, although significant challenges still lie ahead, said Coface, in...
In its presentation of its end-of-year financial report, Great Eastern group CEO Khor Hock Seng said that the company faced more headwinds in the...
As part of a promotional drive for the company, AIA is starting a movement to improve the health and wellness of individuals and help create a more...
Specialist insurer Beazley has enhanced its healthcare offering in Asia Pacific with the launch of its miscellaneous medical liability product.
Parts of Australia's east coast suffered from severe flooding in recent weeks with the damage looking to become a A$1bn ($728m) event that will be...
The Chartered Insurance Institute (CII) of the UK has shared the findings from its Shaping the Future Together consultation, which encouraged members...
The government of India is likely to address the concerns of the insurance industry and align surety bond issuers' rights in line with other...
The 2022 Commercial Risk Report by FloodFlash, the parametric insurance technology company, has revealed that 26.6% of UK commercial properties have...
SBI General, a private non-life player in India, will provide access to primary eye care facilities to rural communities across India as part of its...
A study by ORX, an association of operational risk professionals, has revealed that cyber is one of the top risks facing the financial services...
Nearly 30% of Hong Kong's international insurers are contemplating downsizing their operations due to a shortage of talent, according to a recent...
Organisations take nearly two months to patch critical risk vulnerabilities in their IT systems, said a recent report by cyber security firm...
Global reinsurer Swiss Re and healthcare InsurTech dacadoo have partnered to offer a digital health engagement solution to insurers of all sizes.
For the first time in Bangladesh, people with disabilities have been brought under health insurance cover so that they can get treatment at a low...
New research by the International Underwriting Association of London (IUA) has revealed that the London market companies are developing new products...
According to tech consultant Endava's insurance trends report, there are two developments which stand out for digital adoption. The first is how...
Life insurers such as Manulife and AIA have seen an increase in mainland Chinese visitors (MCV) buying policies in Macau over the past year. After...
A survey by Indian non-life player SBI General reveals that being financially independent ranked among the top three priorities for Indian women.
In Asia, after three consecutive years (2018-2020) of economic losses topping $100bn, the Nat CAT toll dipped to $72bn in 2021. Of the 2021 losses,...
The Indian insurance industry needs to adapt technology to solve the long-standing claims settlement issues that have impacted the insurance sector...
Two property and casualty insurers and two insurance brokers are among the 136 companies recognised for their unwavering commitment to business...
Russia's general insurance industry is expected to decline by 14% in 2022 due to the Russia-Ukraine crisis according to GlobalData's global insurance...
The banking sector has seen an emergence of open finance where third-party financial service providers can access customer's data using API...
Trade credit insurer Euler Hermes has changed its brand name to Allianz Trade, in what it called a 'natural move' following its acquisition by...
Manulife Hong Kong has launched a programme designed to help underprivileged children equip themselves with future-ready skills, improve financial...
Indian private life insurer HDFC Life has launched a digital education and awareness initiative on the nuances of term life insurance for millennials...
Mercedes-Benz will be legally responsible for the liabilities arising from road-crashes while its level-3 automated driving system is active....
Bangladesh lost $21bn due to 11 natural disasters between 2015-2020 according to the Bangladesh Bureau of Statistics (BBS).
A new survey in India has revealed that amid the encouraging habits towards financial prudence, Indian millennials are yet to become fully aware of...
Commenting on the Australian federal budget presented in March, the Actuaries Institute says that this is a case of missed opportunities to not...
The International Association of Insurance Supervisors (IAIS) will be holding its annual general meeting and annual conference in Tokyo in November...
SMEs in Singapore have been switching insurers over the past year according to QBE. Forty-four per cent of businesses polled in QBE's SME survey...
The second edition of ICICI Lombard's Corporate India Risk Index (CIRI) has revealed a 9% jump in the risk score from that of 2020.
A new survey by AM Best has revealed that more than half of the respondents consider digitisation and technological investments to be the biggest...
Insurance companies in Nepal will have to spend at least 1% of their net profit for corporate social responsibility (CSR) activities annually.
The blockchain insurance industry consortium B3i has placed the world's first legally-binding reinsurance contract on distributed ledger technology...
Reinsurers are expected to bear the brunt of the flood season in Australia. The country had declared a national emergency to deal with the floods and...
Asia's first digital insurance product backed by a global reinsurer was launched in Hong Kong this week
A new study in the UK has revealed that more than one in three (35%) 18 to 24-year-olds plan to spend more on insurance as compared to just 11% of 45...
The Max Life India Protection Quotient 4.0 (IPQ 4.0) survey conducted by private life player Max Life in partnership with consultancy firm Kantar has...
How can global reinsurers collectively go about lifting the profile of the industry with millennials and gen Z when it comes to recruiting the best...
Flood Re, the joint initiative between the UK insurance industry and the UK government to promote the availability and affordability of flood...
Financial lines Lloyd's coverholder Frontier Global Underwriting and insurer Relm have partnered to offer D&O and professional liability cover for...
Insurers face several challenges when it comes to investing in ESG and integrating the same principles into corporate structures. These include how...
Cyber attacks and data loss are the top risks facing D&O, with cyber extortion and the growth of ransomware attacks a leading concern, according to a...
A survey of SME businesses in South and Southeast Asia has highlighted a gap in their current protection levels and the risks they currently face.
A new analysis has revealed that the global insurance opportunity created by the transition to Net Zero could be in the region of $125bn.
Private non-life insurer HDFC ERGO has launched the country's first 'pay as you drive' programme, insurance that offers distance-based insurance...
A report by global reinsurance broker Gallagher Re revealed that investment in the InsurTech sector in 2021 saw the highest capital inflow ever...
Research done by consultancy Insuramore revealed that revenues earned worldwide from insurance marketplace activity had a value of over $6.7bn in...
Nearly six out of 10 SMEs in the UK (59%) rely on credit to pay for their insurance, borrowing on an average $1,370, according to new research by...
The majority of US homeowners that have homeowner insurance policies have not taken steps to ensure that their insurance coverage is keeping pace...
The international shipping industry continued its long-term positive safety trend in 2021 but Russia president Vladimir Putin's invasion of Ukraine,...
No-code SAAS insurance platform CoverGo has raised $15m funding for global expansion and adoption of its no-code insurance platform.
Australian specialist healthcare underwriting agency Tego Insurance will now also offer a combined liability package for the aged care sector.
Munich Re is enhancing the acceptance of AI with its new CertAI validation service, thus paving the way for the responsible use of AI applications.
The Australian Insurance Law Association (AILA) has undertaken a rebranding exercise to announce that it is an association for everyone involved in...
A survey by AIA Singapore has revealed that two-thirds (66%) of Singapore's local workforce are worried about job loss due to illness or disabilities...
A recent survey by RIMS has revealed that integrating emerging risk considerations into an ongoing risk management programme is necessary to avoid...
A report by Kotak Institutional Equities said that health insurance premium in India exceeded motor premiums for the first time in FY2022 with 33.3%...
Research based on the analysis of incidents reported to customers of Kaspersky Managed Detection and Response (MDR) has revealed that the share of...
In its effort to contribute towards achieving its net-zero targets, Munich Re has partnered with TreeTrust for afforestation projects for carbon...
Consumers in the US are now looking for better value and service, in addition to lower rates as they shop for insurance according to TransUnion's...
In a bid to improve ease of doing business, the Indian regulator Insurance Regulatory and Development Authority of India (IRDAI) has allowed insurers...
The cost of the record-breaking flood that hit south-east Queensland and northern New South Wales earlier this year continues to rise and is now...
Many Australian businesses have yet to recover from the economic shocks of the pandemic, highlighting a general need to improve organisations' risk...
Howden's latest annual cyber report reveals that Russia president Vladimir Putin's invasion of Ukraine and cyber resilience have combined to temper...
There were 4,000 more deaths than expected in Australia during the first two months of 2022, according to the latest modelling data from the...
A report by InsurTech Go Digit has revealed that there has been a spike in demand for travel policies in India in FY21-22 compared to pre-COVID...
FWD Insurance has announced its new initiative into the metaverse by co-creating its first non-fungible tokens (NFT) collection. The NFT collection...
With Sedgwick handling over nine million claims a year for their insurance and corporate clients they are ideally placed to maximise the automation...
PERILS, a Zurich-based organisation providing industry-wide catastrophe insurance data, disclosed its second industry loss estimate for the Eastern...
Many general insurers and standalone health insurers are experiencing an increase in the COVID-19 related health insurance claims filed.
The Japanese government is not liable for damages claimed by people affected by the 2011 Fukushima nuclear disaster according to a ruling by Japan's...
A committee of Indian revenue officials attached to goods and services tax (GST) Council has turned down proposal to lower tax rate on premium...
Commitment to climate policy in the emerging world is strongest in countries most vulnerable to the impacts of global warming and in those with...
A survey by global credit insurance, surety and collection services provider Atradius has revealed a 60% increase in business-to-business (B2B)...
New research by Allianz has revealed that insurance brokers spend an inordinate amount of time on simple/non-complex claims.
There is an 'inextricable link' between the environment and public health, with climate change singled out as the greatest global threat according to...
Insurance Regulatory and Development Authority of India (IRDAI) has now permitted general insurance companies to launch telematics-based motor...
The International Labour Organization (ILO)-developed Employment Injury Scheme (EIS) will now be available to garment workers in Bangladesh.
MSIG Hong Kong will partner with mental health tech company Intellect to provide accessible, end- to-end employee wellbeing support to the insurer's...
The Insurance Council of Australia (ICA) has declared a 'significant event' for regions of New South Wales impacted by significant storm and flooding...
A comprehensive motor insurance product under Insurance Regulatory and Development Authority of India's (IRDAI) sandbox initiative has been launched...
Internal and external challenges facing Lloyd's of London remain critical concerns for the world's largest insurance market, despite its positive...
Government-owned Agriculture Insurance Company of India (AICIL) has tied up with InsurTech Wingsure to strengthen the accessibility of insurance...
NTT Data and SAP Asia Pacific and Japan (APJ) have announced a new co-innovation solution to improve supply chain insurance management.
The obligatory cessions ceded by the Indian non-life insurance companies to the sole Indian reinsurer General Insurance Corporation of India (GIC Re)...
Swiss Re's Magnum is an underwriting solution created by Swiss Re for its client (insurers), who in turn use the platform to simplify the...
Brokers have an important role in the new 'use and file' regime implemented by Insurance Regulatory and Development Authority of India (IRDAI)...
AXA Hong Kong has partnered with Mastercard to empower its customers to contribute to forest restoration through the Priceless Planet Coalition.
Aon's 2021 global risk management survey for South Korea listed business interruption and economic slowdown as the top risks that organisations faced...
A report published by S&P global ratings highlights that the core inflation in Asia Pacific is not as high as in the US and Europe, as a result of...
A new report by S&P Global Ratings has forecast that cyber insurance premiums are likely to increase at an average 25% per year to about $22.5bn by...
Lloyd's new culture strategy describes how it defines, engages and measures progress on culture across its market.
Malaysia will provide voluntary insurance protection to close to 3m Malaysian homemakers.
With Japan experiencing one of its hottest summers on record this year and thousands of Japanese hospitalised for heat-related medical issues,...
European parliament has voted to include fossil fuel gas and nuclear power in the EU Taxonomy rules for sustainable investment activities.
While the pandemic changed the perception of insurance and more individuals felt the need to be prepared for unforeseen situations, the current surge...
A new survey by Aviva Insurance has revealed that 70% of brokers are interested or very interested in further digitalisation or automation.
Global insured losses ($39bn) from natural disaster events in 1H2022 were above the 21st Century average, up 18%, according to preliminary estimates...
A report published by reinsurance broker Gallagher Re states that global investment in the InsurTech sector of $2.41bn in Q2 2022 was 8.3% greater...
Poor claims experiences could put up to $170bn of insurance premiums at risk in the next five years according to a new report by professional...
Deaths from COVID-19 are expected to reach 7,100 for the first seven months of 2022, according to the latest Actuaries Institute research, with...
Future underwriters must become skilled statisticians, engineers and technologically literate if insurance is to meet the needs of consumers and...
Small businesses with greater levels of racial and ethnic diversity are more likely to have changed their business approach during the pandemic than...
Cyber attacks are increasingly rapidly, from malware, data theft, distributed denial of service, to ransomware where device and data access are...
More than 20% of global executives are of the opinion that blockchain technology is all hype. A new survey by data and analytics company GlobalData...
In Japan, major companies, including a few major insurers, are permitting employees to hold side jobs, viewing the step as a morale booster that pays...
Ping An Insurance has announced the successful launch of PingAn-3, also known as Taijing-1 01, Ping An's first earth observation optical...
The implementation of the Korean Insurance Capital Standard (K-ICS) starting 2023 is likely to have a limited impact on insurers' ratings, although...
The world's first-of-its-kind insurance and reinsurance facility that provides dedicated insurance capacity for new and existing green and blue...
Two large claims associated with fire in lithium-ion batteries in an electric scooter and a e-bike in UK have resulted in a loss of almost GBP500,000...
General Insurance Council of India (GIC) is continuing its mediation efforts between Insurance Regulatory and Development Authority of India (IRDAI)...
Ratings agency AM Best recently awarded New Zealand-owned Delta Insurance Group (Delta) a performance assessment of PA-2 Excellent, making Delta the...
Tokio Marine & Nichido Fire Insurance (TMNF) along with Tokio Marine HCC (TMHCC) and four other global insurers have partnered with Asian Development...
Bharti AXA Life Insurance in partnership with edtech company Great Learning will offer a post graduate study programme in life insurance sales.
The Demex group has launched new snowfall insurance, which is being described as first-of-its-kind.
The well-regulated business environment was a vital factor to the sustained growth of the captive market in Labuan, said Labuan Financial Services...
Insurance-linked securities (ILS), like many other investments, are not safe from the impact of inflation, which has driven up the cost of claims for...
While insurers prepare for IFRS17 that takes effect next year, S&P Global Ratings expects that the new standards will improve transparency and make...
Almost half of Chinese below the age of 30 choose to purchase insurance for their parent first according to a new report by insurance technology...
The Insurance Authority (IA)has just published findings of the Insurance Literacy Tracking Survey, which is a project devoted to assessing the...
Domestic insurers in Nepal are unable to settle their claims of their policyholders as the overseas reinsurers have defaulted on paying the...
Mergers and acquisitions (M&A) in the insurance industry touched the highest growth rate for 10 years in the first half of 2022 according to law firm...
The bi-annual edition of the ACKO Accident Index 2022 reveals that Delhi national capital region and Mumbai are the most road accident-prone regions...
ORX, the global association of operational risk professionals, along with McKinsey & Company has launched a new digital tool which is set to...
Specialist insurer Beazley has launched a product recall solution that offers comprehensive protection from manufacturing errors in the Singapore and...
Singapore and the Philippines are increasingly aware of the financial impact of climate change, however, they lack the right expertise and better...
During the Life Summit, Asia Insurance Review spoke to dacadoo president, CEO and chairman Peter Ohnemus, about how the life insurance industry will...
Despite headwinds such as the global slowdown and geopolitical tensions, the outlook for P&C insurers in emerging markets in the Asia-Pacific region...
Employees' Provident Fund Organisation (EPFO) has recommended that India should substantially increase the retirement age in the country, aligning it...
Global reinsurance dedicated capital totalled $647bn during the first half of the current year, down 11% from the restated 2021 base, with the...
The global ILS market continues to attract investors despite industry headwinds. A report by Aon, 'Alternative Capital: Growing Markets', said there...
Insurance Regulatory and Development Authority of India (IRDAI) is considering setting up an independent investigation agency to probe cases of...
German reinsurer Deutsche Rückversicherung AG will start writing business in Asia, starting with selected markets in South, Southeast and East Asia.
International insurance broker Howden has launched a carbon credit insurance product designed to give buyers and sellers of high-quality, verified...
Efforts to improve the standards of the life insurance ecosystem in Singapore must be intrinsic rather than taking a strict rule-based approach...
Insurance sector outlooks in several markets around the world could move to 'deteriorating' if high inflation and rising interest rates persist...
A new report seeks to raise awareness about the relevance of nature-related risks and opportunities for underwriters to explore how the insurance...
Life insurers in Indonesia are collaborating with local universities to improve insurance literacy in the country and educational programmes to...
China has made tremendous progress in the area of care for senior citizens over the past decade according to National Health Commission of China...
Floods are among the primary hazards of concern and account for most weather-induced displacements according to a new report by the Asian Development...
The digital health market has seen a surge in demand for services, especially amid the pandemic. In a survey conducted by Beazley, 72% of digital...
Cyber insurance is still very much an emerging area for the industry since its first appearance in the 1990s but recent socio-political events are...
An increase in extraction of groundwater, oil, and gas, as well as the rapid construction of buildings and other urban infrastructure is making many...
WTW and the University of Cambridge's Centre for Risk Studies have launched an Airport Risk Index. The index allows the world's airports will be able...
A new study from AXA UK has revealed that almost half (48%) of small business owners feel they have nobody to confide in about the problems and...
Majority of the world's energy is still dominated by non-renewable sources such as coal, oil and gas. While there are some insurers who have stopped...
Hong Kong-based digital insurer Bowtie recently decided to do its part in narrowing the protection gap by reducing the prices of premiums by up to...
Australian businesses are becoming vulnerable to cyber attacks in the absence of specialist cyber security staff according to a new report released...
India's sole life insurer in public sector, Life Insurance Corporation (LIC) of India which had 1.33m individual agents as on 31 December 2021, is...
A report by Verisk Extreme Event Solutions estimates that on an annual average basis, catastrophes around the world are expected to cause about...
Hospitals and infrastructure including electricity, gas and water utilities are the most at risk according to a new report by the ratings agency...
Chinese insurers are shifting their investment allocations and are focused on increasing those that are ESG compliant. The insurers currently have a...
Environmental NGO Reclaim Finance has asked global insurers to not renew the insurance coverage to Ichthys LNG, a liquefied natural gas (LNG) project...
Driver error, distraction, fatigue and other human factors now account for 63.5% of serious truck crashes according to a new report by Australian...
Digital asset management platform Matrixport took over a year to secure insurance coverage for digital assets. The insurance coverage was sought to...
New space sustainability benchmarks will be developed to address the issue of debris in the Earth's orbit. Space debris poses an alarming risk for...
Ping An Life has launched a home-based elderly care brand, Ping An Concierge, continuing to build differentiation advantages with the 'insurance +...
A new health survey has revealed that Hong Kong residents are now changing their attitudes on how to live with the COVID virus and regain normalcy in...
Speakers at National Insurance Academy's annual insurance summit with the theme 'Broadening the horizon: Navigating towards a fully insured India'...
A new cargo consortium launched at Lloyd's of London will provide the largest single cargo capacity in the market. Liberty Project Cargo Consortium...
For the third year in a row, global financial assets held by households grew by double-digits, according to Allianz.
According to a new blog by Travelers Insurance, while inflation can make life difficult for a business of any size, SMEs may feel the pressures most...
InsurTech DocDoc has collaborated with QBE Singapore to launch a differentiated group health insurance product, that aims to make obsolete legacy...
Moneysmart's latest venture into the broker space, Bubblegum, hopes to break into other markets in Asia within the next five years according to head...
The Malaysian insurance market faces a lack of awareness and understanding of personal protection products among its consumers. This has led to a...
Hyundai Motor India (HMIL) has received approval for its subsidiary Hyundai India Insurance Broking (HIIBPL) to function as a direct general...
To ease the burden on country's working generations and to make its healthcare systems sustainable, Japan has proposed to raise the upper limit on...
Drivers of commercial electric vehicles in Japan will soon have new insurance covers available for issues connected with their vehicles.
QBE Asia has launched Premiums4Good, a global initiative that invests everyday premiums to make a difference to communities across the globe.
A recent study has revealed that employers in Hong Kong are addressing the talent crunch challenge by focusing on retirement age and benefits for...
Fire, collision and sinking, and damaged cargo are the top causes of marine insurance losses by value according to Allianz Global Corporate &...
The Japanese insurers now offer insurance covers that pay out to companies if employees go on parental leave, eyeing growing demand for such services...
Japan's MS&AD Insurance Group Holdings has decided to cut down its personnel costs and increase productivity by adopting relevant technology.
Manulife IM had been granted approval to acquire 51% of shares in Manulife TEDA Fund Management, a joint venture with assets under management (AUM)...
Singapore-based The Huntington Group (Huntington) has decided to acquire Futuready Thailand from Aegon. Following the transaction, Huntington and its...
The general insurance industry in Singapore is set to grow at a CAGR of 7.2% from S$4.7bn ($3.5bn) in 2021 to S$6.6bn ($5.1bn) in 2026, in terms GWP...
Interest in travel insurance kindled by the pandemic has sustained and travellers, both for international and domestic destinations, consider travel...
The Insurance Authority (IA) released provisional statistics of the Hong Kong insurance industry for the first three quarters of 2022, showing a...
In 2021 weather and water-related hazards caused total damage of $35.6bn in Asia. These climatic events affected nearly 50m people in the continent....
While AI promises faster and smarter decision making, safeguards are needed to prevent potential discrimination according to the Australian Human...
Global marine insurance premiums in 2021 reached $33bn, up 6.4% on 2020, according to the International Union of Marine Insurers' (IUMI) latest stats...
ICRISAT scientists have collaborated with the Asian Development Bank (ADB) to develop high-resolution spatial maps that enable cropland mapping for...
S&P has placed Sumitomo Life's issue ratings on CreditWatch with negative implication, which implies a possible downgrade if the insurer's declining...
A survey by InsurTech Acko and YouGov India on Indian motor vehicle consumers preferences has revealed that electric vehicles (EVs) will be the first...
The 10th annual Regional Day of Service (RDS) was organised by insurer Chubb in early November across 10 markets in the Asia-Pacific region through...
Hong Kong is the top intended destination for mainland Chinese travellers who have endured nearly three years of restrictions and movement curbs...
There has been a substantial increase in significant breaches of the general insurance code of practice according to the latest annual report of the...
Almost half (49%) of the Singaporean employees work remotely, blurring the lines between personal and professional life and thus expanding cyber...
The mental health of around 4.43m adults in Taiwan was affected by the COVID-19 pandemic in 2022 according to a new survey conducted by the Mental...
ORX has launched a platform which brings together a new generation of risk management and data visualisation applications.
Insurance consumers are now looking for the same convenience from their insurance companies as they are in other areas of their lives according to a...
The Delhi High Court has directed the Insurance Regulatory and Development Authority of India (IRDAI) to call a meeting of all insurance companies to...
In many parts of the world, women are in charge of purchasing insurance for their families, but the gender wealth and protection gap remains quite...
New research by CoinJournal, a publication that focuses on cryptocurrency, looked at available data around major breaches and fraud since 2011 to...
India's first ever 'surety bond insurance' product is now available in the market. Developed by Bajaj Allianz General Insurance, the product was...
It is a point of satisfaction for the Indian insurance industry that complaints about mis-selling of insurance policies are now showing a downward...
The pandemic has helped in increasing the awareness of healthcare and health insurance in rural and semi urban areas of India and this is reflected...
At the beginning of the year, the chairperson of the life insurance industry of Japan (LIAJ) Seiji Inagaki published a new year's message. In it, he...
Singlife has inked a memorandum of understanding with private cancer care provider Icon Cancer Centre Singapore in a bid to enhance access to...
Companies in Indonesia such as IKEA, Gojek and Shopee are customising insurance policies to suit the products they sell. It is made possible through...
Australia's terrorism reinsurance pool, administered by Australian Reinsurance Pool Corporation (ARPC), purchased its retrocession programme for the...
Ping An Insurance (Group) Company of China has been ranked the world's most valuable insurance brand for the seventh year in the running by brand...
India's retail health insurance segment has the potential to become a $25bn market in the next five years according to a new research study.
Government initiatives in the insurance sector and measures to improve financial inclusion have driven insurance adoption across segments in India...
Specific drivers will prevail in the insurance industry during 2023 and these will include ESG risks, geopolitics, technology change and claims...
In India, one in five health insurance policyholders is unaware of basic policy terms despite purchasing the policy on their own according to a new...
Liberty Global Transaction Solutions (GTS) has launched its contingent legal risk insurance (CLRI) M&A product in the Asia-Pacific market.
With APAC's exposure to extreme weather events leading to unsustainable natural hazard losses and high inflation worsening them, reinsurers in the...
A magnitude 7.8 earthquake struck southern Turkiye, near the northern border of Syria. The death toll has exceeded 2,300 in Turkiye and Syria and...
The FutureFearless survey conducted by market research firm YouGov for Ageas Federal Life Insurance has revealed that term products are the most...
Companies in India have digitalised nearly all interfaces that connect with customers, but this reduction of physical effort has now hit a point of...
Putting nature at the heart of its strategy demonstrates AXA XL's ambition to be an industry leader in protecting biodiversity to promote resilient...
Over 35% of working women in Japan would rather be home makers according to a survey conducted by Sony Life Insurance Company.
Regulatory solvency margin ratios (SMR) for Japan's insurers have been rapidly declining. Interest rate increases put downward pressure on the...
Consumers in the 11 cities of Greater Bay Area (GBA) are worried about the growing gap between increasing medical costs associated with critical...
The Indian insurance industry has a lot of scope for collaborative and mutually beneficial partnership between traditional insurers and InsurTechs.
The Hong Kong Federation of Insurers (HKFI) is seeking feedback from insurers regarding a proposed insurance industry climate charter. A member...
An online marketplace for used cars, Carro, is investing in technology to improve insurance distribution and claims processes for customers and...
Indian reinsurer GIC Re has partnered with the Indian Institute of Technology Madras (IIT Madras) to develop a urine-based tuberculosis diagnosis or...
Bajaj Allianz General has initiated steps to empower differently abled persons with mobility solutions.
How women can thrive in the insurance sector is a question that has been debated for some years now.
To help women achieve their full potential in life and to ensure they are financially independent a life insurer can do a lot.
Bajaj Allianz General Insurance's Ms Alpana Singh has spent over three decades in the Indian insurance industry. She says the biggest challenge for...
P&C insurers are set to face higher claims due to multiple sizable natural catastrophes in New Zealand according to S&P Global Ratings report, 'New...
The Hong Kong insurance industry has embraced gender equality and now sees more women in leadership positions.
The recent high-profile closures of Signature Bank and Silicon Valley Bank are expected to have limited impact on Asian financial institutions...
Nearly 88% of Indians are ready to trade their high-paying jobs for comparatively low-paying ones for their mental wellbeing as stress from work has...
A new report by Global Federation of Insurance Associations (GFIA) has identified and quantified the most significant - and growing - annual global...
The year 2023 has thus far been quite challenging for GenZ. The global slowdown and mass layoffs by technology majors, many industries impacted by...
A new survey conducted across 113 villages in India has found that only 22% of India's rural population owns life insurance products compared to 73%...
From the failure of banks like SVB and Signature Bank in the US to the takeover of Credit Suisse, crisis in the banking sector has raised concerns of...
Trade credit insurers require time, information and resources to make assessments on credit risks. However, it may be tough for insurers to make...
Vessels are exposed to higher fire risks caused by many issues including increased shipments of highly combustible lithium batteries. However,...
Almost 40% of bank or financial app users in Japan would like their apps to help them measure their carbon footprint, according to a survey conducted...
Over 90% of women in India participating in an insurance survey feel that women-specific health insurance plans are highly relevant. Around 65% of...
The Insure Our Future network has asked the CEOs of 30 major insurance companies to stop offering insurance services for fossil fuels.
Hongkongers live longer than most people, but they think that their early-to-mid 60s will be dogged by poor health according to Manulife Asia Care...
Hong Kong's Target Holdings has withdrawn its application to the Insurance Appeals Tribunal (IAT) to review certain specified decisions imposed by...
Japan's working age population is expected to decline rapidly from 2027 and the country could face a shortage of over 11m by 2040 according to a new...
Three out of four companies participating in a health insurance survey do not cover mental health in their health benefits package.
Zurich Insurance Group has withdrawn from Net Zero Insurance Alliance (NZIA). It is the second major insurance group to have left the alliance....
Majority of life insurance policyholders (80%) in India want to meet their insurance agents more often, at least once in every six months according...
Nepal Insurance Authority (NIA) has issued license of operations to two microinsurance companies, Guardian Micro Life Insurance and Nepal Micro...
As a measure to boost the confidence of health insurance customers, the Indian insurers have decided to penalise errant hospitals for fraud,...
The four public sector general insurers in India continue to lose their market share to private sector. The market share of the four companies, at...
Nine out of 10 companies have suffered a political risk loss in the past year, transforming political risk from a low frequency, high severity peril...
The Australian insurance industry's response to the record floods in 2022 will be under review by the Insurance Council of Australia (ICA).
The Insurance Council of Australia (ICA) has asked the government to tread with caution as it contemplates an outright ban on paying ransoms and...
Indian private health insurer, Aditya Birla Health Insurance, has launched the latest edition of its 'Jump for health' campaign across India to...
The third edition of the Corporate India Risk Index (CIRI) 2022, a proprietary study conducted by private non-life insurer ICICI Lombard in...
Economic and cyber risks are causing increasing concern for directors and officers worldwide, according to a Directors Liability 2023 survey from WTW...
Net Zero Insurance Alliance (NZIA), which has been buffeted by three high-profile exits in the last few weeks, got a shot in the arm when Canada's...
There is a close relationship between employees' wellbeing and a sustainable working life and it can impact a company's performance according to...
Munich Re Specialty Group will soon launch Green Solutions, a portfolio of insurance products and services that supports its customers' net zero...
Talanx, the third largest German insurance group, which operates globally, has adopted new restrictions on oil and gas. Talanx is 15th major global...
Asia Pacific is facing a large and worrying gap in its requirement and availability of cyber security workers in majority of its organisations...
Amid high profile retrenchments in recent months, insurer Etiqa and Singapore telco Singtel has just launched a product to help those out of work pay...
A new survey has revealed that about one in every two corporate employees in India is at a risk of poor mental health.
Max Life Insurance and Indian Industries Association (IIA) will together provide life insurance plans to the workforce of micro, small and medium...
Under Singapore's Deposit Insurance Scheme (DI), the savings of nearly 89% of the depositors up to S$75,000 ($56,200) per depositor per participating...
Australia will establish a new Net Zero Authority to ensure the workers, industries and communities that have powered Australia for generations can...
InsurTech Igloo is planning to expand its offering of weather index crop insurance products in Vietnam after a promising start with rice farmers in...
Almost half of all employees (47%) report feeling stressed in everyday life, according to a new survey conducted by Mercer Marsh Benefits.
A new report which surveyed 5,000 residents across 13 markets in Asia reveals that seven in 10 respondents (68%) have changed the way they define...
Combatting the increased exploitation of software vulnerabilities with a layered 'defence in depth' cyber security strategy is essential to protect...
Specialist insurer Beazley has launched a new private equity liability insurance product for D&O risks inherent to the portfolios held by private...
Containers lost overboard at sea registered a welcome record low during 2022. The annual survey by World Shipping Council (WSC) recorded a loss of...
Singaporeans are living longer, and yet, only 59% are confident they will be healthy enough to live well to age 80 or beyond according to a report...
Only 4% of 'sustainable' investment funds would automatically comply with the labelling and naming rules for disclosures set by major regulatory...
Future generations of self-driving cars should learn the language of cyclists to help them safely share the roads according to new research from...
China's ZhongAn Insurance, together with ZhongAn Technology, has published a white paper on generative AI technology.
DirectAsia Singapore, part of the Hiscox group, has launched a tailored insurance cover for Singapore based families planning holiday trips abroad...
Aegon Life has launched India's first life insurance cover tailored for surrogate mothers and egg-donors.
The overall credit fundamentals of Japanese life insurers will remain resilient in the financial year ending March 2024 (FYE24), said Fitch Ratings...
Over 21,000 poor women in Indian state of Gujarat have been enrolled in one of the world's first insurance plans for extreme heat launched by...
A new Asia-Pacific SASE survey commissioned by cyber security company Fortinet reveals that hybrid or fully remote working is expected to compound...
The New Zealand government will work out a funding arrangement with councils in cyclone and flood affected regions of the country to support them to...
Improving the quality of insurance agents and consultants in Vietnam is a critical factor to consolidate trust of insurance buyers and bring the...
Federal government of Australia will fund around 200 projects to the tune of A$400m ($270m) to better protect Australians from natural disasters.
As most businesses resume normal working arrangements this year, the majority of SMEs in Hong Kong expect more employees to work solely in their...
Swiss Re has identified the opening of the Arctic as an emerging risk in its latest report.
An insurer was among financial institutions penalised by Singapore regulator MAS for breaches of anti-money laundering and countering the financing...
Over the past year much of the developed world has been hit by double digit inflation and rising interest rates, with a sharp fall in real incomes....
India's National Insurance Awareness Day observed on 28 June annually highlights the importance of insurance in an Indian's life. Indian insurance...
A one-in-200-year cyber event has the potential to produce damages between $15.6bn and $33.4bn and a one-in-50-year event could lead to potential...
Only 30% of the participants in a survey in India's tier-2 and tier-3 cities currently own insurance policies. In the general insurance category...
New Zealand now has a new law insuring bank deposits up to N$100,000 ($62,050). The bill was passed by the country's parliament on 29 June 2023. The...
South Korea will soon plug the loopholes that encourage increasing number of foreigners to abuse the country's private healthcare insurance services.
Concerns about insurance impede genetic screening in Australia. The country's life insurance industry is still allowed to ask for results of genetic...
Around 40% of insurers are either unconvinced or remain dissatisfied with cloud computing, according to a new global survey of insurers. The new...
Compared to younger age groups, older age groups (those over 45) have utilised online platforms more frequently for account opening and documentation...
Even as the agriculture insurance premium collection in India is going up, claims paid by the insurers are going down consistently. In 2022, the...
The Nepal Insurers' Association (NIA) has asked domestic reinsurers to restore the previous year's reinsurance commission rates, failing which it...
Japan's largest life insurer Nippon Life Insurance will not invest in or finance nuclear weapons manufacturers under its new ESG policy.
An Australian woman working with Insurance Australia Group (IAG) for 18 years was dismissed after the company used keystroke technology to monitor...
An insurance company is expected to act in a bonafide and fair manner with its clients and not just care for and cater to its own profits according...
In order to protect coastal communities from property damage due from flooding, MSIG Malaysia has planted 6,247 mangroves throughout Malaysia in a...
Municipal health authorities in the Chinese capital Beijing have prohibited the use of AI to generate prescriptions automatically. This measure is a...
Longer life, ageing population, slowing population growth, reducing working population and climate change are among the seven major focal takeaways...
Financial service organisations in New Zealand acknowledge climate related risks and their impact on the organisations, however, the activity on...
The current agriculture reinsurance market in New Zealand is perhaps the toughest it has been in many years, driven by accelerating climate related...
International law firm DAC Beachcroft (DACB) has formed an association with Singapore-based Incisive Law to provide an offering to clients, covering...
Gallagher Re's latest Reinsurance Market Report revealed that capital dedicated to the global reinsurance sector totalled $709bn in the first half of...
In 2022 more Singaporeans were aware of online scams and cyber security measures, as compared to 2020, (43% vs. 32%) yet many still fail to adopt...
ORX, the largest global association of operational risk professionals, has launched a world first industry-wide risk indicator library for...
According to a recent survey by Prudential plc, Empowering Aspirations: Financial Preparedness in Asia, more than 60% out of the 5000 respondents...
The 12 new teams that are joining the 11th cohort of the Lloyd's Lab will work on the new theme Asia-Pacific Climate Risk, Cyber and Sustainability....
A study by private life insurer SBI Life and Deloitte has revealed that 71% of uninsured Indians feel insurance is a critical lever for building...
Based on information of fraud obtained through AI and ML anti-fraud initiative, India's government run health insurance scheme Ayushman...
A majority (56%) of financial executives involved in insurance decision-making globally expect to generate more than 10% of their revenue from...
Only 24% of international travellers bought travel insurance in their non-work related overseas trips in the last one year, however, 92% of the...
A survey by Preqin revealed that private debt could offer opportunities for insurers.
The liability insurance industry in APAC is projected to grow from $39.4bn in 2023 to $61.7bn in 2027, in terms of written premiums, according to...
Psychological factors and how risk is communicated influence the decisions around buying insurance according to a study conducted by a team from the...
India's elderly population is increasing fast and may surpass the number of children (aged 0-14 years) in the country by 2050 according to a new...
Even as insurance consumers in Singapore increasingly opt for digital, they still regard advice from financial advisers to be more trustworthy and...
Reinsurance premiums worldwide in 2022 reached $500bn according to recent updates by insurer Insuramore.
The insurance industry is going through a period of great change. Climate change, shifts in technology and workforce challenges, coupled with...
Chinese insurance companies will now be allowed to develop and offer exclusive commercial pension insurance products.
In yet another step towards developing Shanghai as a reinsurance hub, the Shanghai Insurance Exchange (SIE) has launched its international...
The Australian general insurance industry bounced back to 14% return-on-equity (ROE) in FY2023 largely driven by improved investment returns thus...
As electric vehicle (EV) ownership continues to gain traction in Singapore, MSIG Insurance has enhanced its personal motor insurance plan with more...
That was the question CNN Philippines senior news anchor Rico Hizon posed at the recently concluded SIRC 2023.
One in four people in Asia Pacific countries will be above the age of 60 by 2050 and more than half of them will be women according to United Nations...
Among Singaporeans, longer-term financial plans such as retirement planning and investment have been put on the backburner.
One of the issues the insurance industry tackled at the Global Insurance Forum 2023 was the importance and benefits of a diverse workforce and how...
There were a number of things Singapore deputy prime minister Lawrence Wong spoke about at the Global Insurance Forum 2023. One of the topics he...
The answer is 'yes', according to a Swiss Re report published in October 2023. Over the past few years, bancassurance has made significant...
Despite cyber attack or data breach being the top business risk, according to Aon's 2023 Global Risk Management Survey, the cyber insurance market...
The surge in inflation influenced much of 2022, resulting in a tightening of monetary policy - and in turn - capital market volatility and a...
Over the past few years, the insurance industry has become more dynamic with digital-only insurers entering the market with new business models...
In September 2023, the International Institute for Environment and Development published a guide for governments, conservationist practitioners and...
In Asia, embedded insurance has developed into an integral part of many product life cycles, according to InsureMO chief revenue officer Rajat Sharma.
In its fourth paper, Promoting Ethical Culture and Conduct in Insurance Intermediaries (General), the Insurance Culture and Conduct Steering...
According to Munich Re's Nat CAT 2023 report, overall losses in APAC in 2023 were $50bn, of which $7bn was insured. There were 11,900 fatalities. The...
Growth of the South Korean insurance industry is expected to rebound in 2024, according to Fitch Ratings senior director, APAC insurance Terrence...
What is the propensity to commit fraud in insurance?
The (re)insurance industry lacks young talent. There is a void at middle management and junior levels which does not bode well for future talent...
Indian private player SBI general, under its corporate social responsibility initiative, plans to create safe roads across India through various road...
A new Global Insurance Law Connect (GLIC) report highlights international variations in response to product liability insurance as consumers demand...
According to Swiss Re's January India's insurance market: Growing fast, with ample scope to build resilience report, regulatory support, innovation...
In 2023, total economic losses due to Nat CAT in APAC were $65bn, according to Aon's 2024 Climate and Catastrophe Insight report. Of that amount, the...
According to The Boston Consulting Group managing director and senior partner Madrid Santiago Mazón, Asia should 'double down' on bancassurance.
The final estimate of insurance market losses from the New Zealand North Island floods is NZD2.2bn ($1.4bn), PERILS said in a press release. The...
According to WTW's Global Real Estate Risk Outlook 2024 - Smarter risk management: Navigating emerging challenges, risks and opportunities, 63% of...
The Asia Insurance Market Pricing: 2023 Fourth Quarter report, published by Marsh, showed that cyber insurance rates were flat, while those for...
In the next 12 months, advancements in data analytics may lead to a greater emphasis on personalised and on-demand microtakaful solutions in the...
In 2022, the Hong Kong authorities published the Development Roadmap for the Insurance Sector, with the aim of shaping the territory into a global...
Due to increasingly unpredictable weather phenomena in Australia, parametric insurance is emerging as a "viable option for the nation's farmers",...
Singapore regulator MAS is set to formalise expectations for insurers to deal fairly with their customers, including persons with disabilities and...
A woman who falsely claimed that she had been seriously injured in a traffic accident and lost the ability to work, has been convicted for attempted...
What sustainability could mean in insurance was the question Swiss Re head of life and health, APAC ex China Daisy Ning posed at the 2023 Global...
Generative AI, as a technology, caught many people off-guard with its power and flexibility. With the entire world scrambling to take full advantage...
In early 2023, the prime minister of Vietnam's Decision 07/QD-TTg was issued, approving the strategy to develop the insurance market in the country...
The Deloitte Insurance Outlook 2024 indicated that many life insurers are repositioning in order to drive sustained and predictable growth.
Health and safety (84%) overtook cyber attack, including cyber extortion (69%), as the top risk for directors and officers (D&O) in APAC this year,...
In 2023, the Monetary Authority of Singapore (MAS) named four 'domestic systemically important insurers' - AIA Singapore, Income Insurance,...
With the Prudential Standard CPS 230 coming into effect on 1 July 2025, Xceedance business leader - key accounts in Australia Prateek Vijayvergia...
Insurance industry organisation, CRESTA, which provides a global standard for risk accumulation zones and natural catastrophe industry losses, has...
In 2022, the Law on Insurance Businesses No 08/2022/QH15 came into effect, following the commitment agreed upon in the EU-Vietnam Free Trade...
Hong Kong's Insurance Authority (IA) held its Insurance-linked Securities (ILS) Conference earlier in April 2024. The conference, tailored...
Out of seven insurers in China, outlooks for six were rated 'negative', according to Fitch Ratings, while t the seventh remained 'stable'. A...
Hong Kong's Insurance Authority (IA) published its consultation conclusions on six draft rules concerning the implementation of a risk-based capital...
According to the PERILS Industry Exposure Database (IED) 2024, the impact of inflation on insured exposures "continues to be visible". For instance,...
Factors such as growing amounts of data, changing customer expectations, competition from newer, non-traditional players in the insurance industry...
Pricing of insurance is continuing to moderate as rates decline, according to Marsh's May 2024 report, Asia Insurance Market Pricing: 2024 First...
Global Insurance Law Connect's Risk Radar 2024 identified cyber security and Nat CAT linked to climate change and cyber security as challenges facing...
The food and beverage (F&B) industry "is exposed to a widening range of disruptive forces, from droughts and natural disasters to political unrest...
Korea's insurance market has seen a lot of growth and innovation over the past few years, but there is still work to be done to improve the...
According to life insurer TAL's blog, "vaping is generally considered by insurers the same as smoking".
The Asia Care Survey 2024, conducted by life insurer Manulife found physical wellbeing was considered the most important to respondents, with 39%....
Cost of medical care in Malaysia is rising, Etiqa Family Takaful CEO Zafri Ab Halim said.
Without insurance, businesses "will be unable to reach their net-zero transition goals or become resilient in the face of the changing climate",...
In a bid to provide more opportunities for insurance companies and fintech firms to co-develop innovative insurance products, the Financial...
A majority (76%) of IT and cyber security leaders have invested in cyber defences to qualify for cyber insurance according to a new global survey by...
A parametric insurance plan helped 46,000 women across 22 districts in India tackle the extreme heatwave conditions that swept through vast swathes...
In recent years, the global reinsurance market has been influenced by changes in climate-related risks, rising catastrophic losses and economic...
The increasing adoption of EVs in India is not only reshaping the India motor industry but also revolutionising the motor insurance segment in the...
The major ASEAN economies are grappling with the challenge of boosting insurance penetration rates. As Gen Z emerges as the dominant consumer segment...
An indigenous entrepreneur has launched Australia's first insurance brokerage specifically for First Nations organisations and communities. First...
"Over 70% of APAC insurers have already integrated ESG principles into their business models and policies or are doing so," said Income Insurance...
The newest standalone Indian health insurer Narayana Health Insurance has unveiled its first health insurance policy, Aditi. It is India's first...
Taiwan's National Health Insurance Administration (NHIA) has proposed to fund new cancer medicines by imposing a surcharge on alcohol.
The rapid development of new energy vehicle (NEV) insurance in China brings in new requirements for the country's motor insurance brokers. The...
In 2018, typhoons Jebi and Cimarron "toppled over several turbines in Japan", according to an article published by Swiss Re, Climate Change and Wind...
The property insurance market in the Asia-Pacific (APAC) region is projected to grow at a compound annual growth rate (CAGR) of 10.8%. The property...
The failed CrowdStrike update that caused mayhem for the computer systems of many corporates in Asia Pacific could see insurers in the region faced...
When it comes to capital optimisation, Aon strategy and technology group global CEO Sherif Zakhary said, each insurer would have "a different...
According to Charles Taylor managing director, Asia Pacific - aviation Bob Battoo, loss adjusters in Asia will need to "closely monitor" a number of...
Prudence Foundation, the community investment arm of Prudential plc in Asia and Africa, and Warner Bros. Discovery in Asia Pacific (WBD), are...
Increased risk from Nat CAT, as triggered by climate change, is set to complicate "an already intricate business risk landscape", according to WTW's...
Higher interest rates have resulted in life insurance premium growth in advanced markets, according to Swiss Re's sigma report, World insurance:...
A report by the Securities and Exchange Commission of Pakistan (SECP) has revealed that Pakistan's insurance sector is way behind its peers in the...
The Licensing and Regulatory Framework for Digital Insurers and Takaful Operators (DITO) Policy Document was released by Bank Negara Malaysia (BNM),...
The attitudes of high-net-worth individuals (HNWI) have changed over the past few years, driven by economic and social changes, with many of the...
When asked how MFRS17 has affected Malaysian insurers and takaful operators since its implementation, Christopher & Lee Ong partner Chelsea Chan said...
According to Insurtech Australia CEO Simone Dossetor, AI is being explored within the insurance sector, "but with different levels of maturity".
The "dynamic nature of maritime trade makes speed and service particularly important", according to Markel senior underwriter - marine Wanshi Lin.
In 2023, there were 85 combined Nat CAT and manmade disasters in Asia, according to Swiss Re's sigma report, Natural catastrophes in 2023: Gearing up...
Australia's Council of Australian Life Insurers (CALI) has opened applications for its annual ReCALIbrate programme aimed at supporting female risk...
Indian health insurer, Star Health Insurance, has launched an industry-first braille version insurance policy tailored for individuals with 40% or...
Insurance Regulatory and Development Authority of India (IRDAI) has set up a task force to solve the bottlenecks and drive the growth of surety bond...
The season of festivals in India for the year that began with Krishna Jayanti celebrations on 25 August 2024 will also bring a short-term bonanza for...
The circumstances are all too familiar: a mutating virus that can spread from animals to humans, a threat amplified by a globalised world, has...
Nepal Insurers' Association (NIA) has filed a writ petition against the government in the country's supreme court for not settling the payments due...
In Indonesia's (re)insurance market, health protection products will "experience adjustments in both premium pricing and terms and conditions (T&C)...
According to Aon's 2024 Climate and Catastrophe Insight, total economic losses in APAC hit $65bn in 2023. Of the total, only $6bn (9%) were insured...
A new report on employee benefits in corporate India reveals that mental wellness is today a critical area of employee wellbeing programmes across...
One of the things clients expect when working with insurance brokers such are diverse teams "that collaborate and work well together", according to...
Many businesses "perceive an increasing sense of cyber vulnerability", as technology innovations continue to drive digitalisation, according to the...
Even as South Korea grapples with an ageing population, there has been a significant increase in the number of Koreans suffering from mental health...
Younger generations are increasingly coming into insurance distribution networks in India according to a new survey by Turtlemint. The survey found...
A new survey has revealed that fraud remains a top concern for insurers globally and the number of fraud cases is either holding steady or increasing...
Even as the Insurance Council of Australia (ICA) renewed its calls to stop building on floodplains, housing projects on floodplains continue to be...
The SEADRIF Insurance Company has made a payout of $750,000 following the passage of typhoon Yagi which devastated eight provinces in Lao PDR,...
This year's Asian Actuarial Conference (AAC), to be held in Hong Kong from 22 to 25 October, will have the theme of 'Innovation, International Hubs...
Life insurers are ready to leverage generative AI to innovate their policyholders' experience and optimise operations according to new research by...
According to Central Re executive vice president Terry Ho, the challenges of climate risk in Asian markets "are quite different from those seen in...
The reinsurance and insurance markets today are characterised by a lot of instability and a lot of change, said Swiss Re chief underwriting officer...
Globally, economic losses due to Nat CAT in the first three quarters of 2024 were estimated to be $258bn, approximately 7% lower than the mean at...
Digital transformation is no longer an option, but a "necessity to survive and thrive", according to EY Partner Bernadeth Saoria Gultom at the 28th...
The Protection Gap Study 2022, published by the Life Insurance Association Singapore (LIA) in 2023 enhanced understanding of challenges faced by...
The life insurance industry is "undergoing a profound transformation driven by an unpredictable world and the rapid evolution of intelligent...
Zurich Insurance (Hong Kong) is focusing on creating a sustainable ecosystem and promoting eco-friendly practices and healthier lifestyles within the...
According to the report titled "Deepfakes in the Financial Sector: Understanding the Threats, Managing the Risks", published by the Financial...
When asked what some common concerns clients had raised this year, Markel managing director APAC Christian Stobbs pointed to continued geopolitical...
When asked what he expected to see in 2025, UIB Asia CEO Francis Savari first indicated that because the growth momentum in Asia would continue on a...
When asked what role innovation could play in maintaining competitiveness in the reinsurance industry, Everest Re CEO, APAC Kevin Bogardus was keen...
In 2024, the CFA Institute and CFA Society Singapore launched the voluntary Diversity, Equity, and Inclusion Code in Singapore (DEI code Singapore)....
As risks continue to evolve, risk experts around the world have to reassess the importance of existing and emerging risks constantly. We spoke to...
Typhoon Yagi was the costliest in Asia this year, according to Munich Re's 'Hurricane/Typhoon Season Summary.
The number of people aged 65 and over is expected to hit 1.6bn in 2050, with Asia leading the trend, according to the World Economic Forum.
People are the cornerstone of any organisation, serving as its pillar and backbone. At Allianz Asia Pacific, we place our people at the centre of...
Global insured losses due to Nat CAT is on the rise, according to Munich Re's NatCatSERVICE January 2025 report, "Natural disasters in 2024". The...
The changing middle class and effects of climate change are forcing the insurance industry into a constant state of transformation, said NEC Asia...
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...
Climate risk "is systematic, with global effects", according to Ortec Finance investment solutions director Saiyan Raja.
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...
2025 stands out for the insurance industry because of the sheer number of substantive changes in policy and government priorities that domestic and...
Aon has released findings from its 2025 Human Capital Employee Sentiment Study.
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...
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...
Mental health literacy in Singapore has improved with more people being able to correctly identify common mental health conditions. Stigma or...
India's motor insurance sector has witnessed remarkable growth, yet a significant challenge remains: there is a large number of uninsured vehicles on...
The insurance-linked securities (ILS) market has reached new heights, with capacity hitting a record $107bn by the close of 2024. AM Best ILS...
Increasing longevity and falling fertility mean the world is facing a new demographic reality - a growing elderly population with fewer working-age...
A study by Equisoft and LIMRA in collaboration with Universal Conversion Technologies, 'Assessing Data Readiness for AI in the Life Insurance...
The government, takaful operators and distributors play an important role in the ecosystem to grow the takaful market in Malaysia, according to...
Across Asia, women feel their financial security has improved compared to previous generations, with 65% saying their finances have improved relative...
The rise in ESG investing has increased concern over businesses overstating the sustainable credentials of their products and services without a...
The Insurance Council of Australia (ICA) has called for a comprehensive range of initiatives that will protect hundreds of thousands of Australians...
The IRDAI is working on guidelines for a comprehensive insurance fraud monitoring framework for the insurance sector to identify, assess, and...
As the insurance landscape shifts with advancements in technology, evolving client demands, AI innovation and sustainability, the inclusion of...
With the high cost of living and a strong emphasis on work-life balance, employees in Singapore expect comprehensive benefits beyond just salary.
The rapid growth of cyber insurance has prompted insurers to be cautious about overexposing themselves to high-risk areas.
India's non-life insurance premium growth is expected to be bolstered over the medium term by the country's economic development, rising insurance...
With the advent of AI tools, the construction sector has a transformative opportunity to extract valuable insights, patterns, trends and actionable...
New research commissioned by IBM found that Singapore companies view AI as a promising opportunity, with increasing interest in investing to boost...
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...
Interest in asset-intensive reinsurance as a solution is broadening across Asia, Aon's strategic growth leader for Life and Health Reinsurance...
There are rising levels of affluence that continue to be relevant across markets that Singapore-headquartered Great Eastern operates in, according to...
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...
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...
Energy and natural resources companies have said that they face challenges getting the right insurance, according to Willis' "Global Clean Energy...
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...
Microinsurance carriers achieved the "highest rates of penetration among low- and middle-income populations in Asia and the Pacific, according to the...
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...
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...
Organisations that trade with counterparts in connector countries -- such as Vietnam, Mexico, South Korea and Hungary -- to circumvent existing or...
Motor theft claims are increasing significantly in some parts of Australia according to a new survey report released by the Insurance Council of...
Survey results published QBE show that executives and decision makers in SMEs in Hong Kong and Singapore harbour concerns about a wide range of...
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.
As the battle for top talent intensifies, SMEs in Hong Kong and Singapore are placing more emphasis on recruitment, training and retention. In both...
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...
Following a second consecutive year of robust financial performance in 2024, Europe's four largest reinsurers are well positioned to navigate...
In 4Q2024, insurance markets began to show signs of softening with "more moderate premium increases being applied to many risks", according to...
Government initiatives and assistance have been central to the improved state of the Australian health insurance sector over the past 25 years,...
The recent reduction in the United States Agency for International Development's (USAID) budget has led to several projects being cancelled...
Indian employees are silently battling a mental health crisis, with limited access to affordable treatment due to gaps in insurance coverage,...
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...
While conditions vary greatly by geography, healthy levels of capacity are making facultative reinsurance a more effective and attractive tool for...
Amid a changing geopolitical landscape, the majority of insurers (52%) in a poll are very concerned about the impact of inflation on their portfolios...
A moderation in Japanese property-catastrophe reinsurance market pricing was observed at 1 April, according to Howden Re. The global insurance...
The 1 April reinsurance renewal season saw mixed outcomes due to continued uncertainty around war-related losses and macro volatility.
Less than a third (27%) of respondents in Singapore report high readiness from a data perspective to adapt, deploy, and fully leverage AI...
The UNDP with the General Insurance Association of Indonesia (AAUI) has launched the Agricultural Insurance Roadmap 2025-2030 to improve risk...
Tokio Marine Holdings will change the name of Tokio Marine Healthcare Business Establishment Preparatory Company, which was established as a wholly...
Asia and Oceania are expected to increase their share of global cyber premiums to 8% by 2027 from 6.8% in 2024, according to a new report by global...
There is an 80% probability of a magnitude 8 to 9 earthquake along a tremulous seabed zone known as the Nankai Trough, according to a report issued...
It would be in the interests of governments to collaborate with companies to develop capabilities, including computer platforms, to enable maritime...
Japan is the top-ranked country in Asia, based on Swiss Re's metrics for availability, accessibility and affordability of health insurance in Asia,...
AXA XL, the P&C and specialty risk division of AXA, has launched a new report to help the risk management community identify, assess and mitigate...
China and India are shifting towards meeting their growing electricity needs with clean energy. These are the two countries at the forefront of the...
While 82.9% of Australian air passengers do buy travel insurance, 43.9% did not lodge claims for lost bags, according to the findings of a survey...
Asia's real estate and insurance sectors are grappling with substantial financial risks, while also encountering new opportunities, as climate change...
In Asia, the construction industry is set to experience continued growth this year because of both government stimulus and private investments.
A promising area in insurance is digital health underwriting, where insurers use electronic health records - increasingly adopted across APAC - to...
The first quarter of 2025 brought a series of devastating natural disasters across the globe and Asia was not spared from their destructive impact.
The Nepalese government has set a target to increase the renewal of health insurance policies to 90% in the next five years to 2030.
Insurers must be aware of financial market trends, particularly, recently, when the need to understand and act on these trends has grown more urgent...
Catastrophe insurance data provider PERILS has disclosed that its initial industry loss estimate for tropical cyclone Alfred is A$2.59bn ($1.67bn).
The International Association of Insurance Supervisors (IAIS) has published its application paper on the supervision of climate-related risks in the...
Ten (10) fossil fuel companies caused more than $14tn of climate damage from 1991 to 2020, according to a study by a team at Dartmouth College, a...
Many factors influence the dynamics in Indonesia's broker-driven (re) insurance sector, according to UIB Asia Reinsurance Brokers CEO Francis Savari.
A new large AI model with inputs of data relating to certain specific symptoms of patients, can generate alerts about potential rare genetic...
Cordinated action is urgently needed against the rising threats posed by extreme weather and natural catastrophes, says Zurich Insurance Group...
Regulators in different parts of the world have very different thoughts and approaches to AI, McKinsey & Company senior partner Violet Chung...
The insurance industry is caught up in the middle of three megatrends -- climate change, the digital revolution and globalisation, said JBBoda Viva...
Nearly two fifths (39%) of respondents to a survey in Singapore said that they viewed insurance as an investment tool to achieve financial...
To help financial firms prevent fraud attempts on their companies and customers, US-headquartered FS-ISAC, which advances cyber security and...
Australian drivers may be spending more on motor insurance than they necessarily need to, due to what has been called a 'convenience catch',...
Insurers should deploy automation and Gen AI to compensate for expertise shortages and to drive efficiencies as populations age and mobility patterns...
AIG chairman and CEO Peter Zaffino has pointed to the significant potential of India's rapidly expanding insurance market as a reason for optimism.
Online health insurer Bowtie Life has developed Hong Kong's first fully online medical underwriting system, designed to instantly evaluate...
Financial institutions should proactively incorporate nature in their approach to financing, says a white paper titled "Financing Our Natural...
Nearly one in five (17%) of Australians have remained loyal to the same car insurance provider for more than 10 years,according to the results of a...
A new integrated air, space and ground monitoring system to better detect and prevent major geological disasters has been rolled out by China.
An overwhelming 85% of Indians intending to travel abroad are likely to purchase travel insurance for their next trip, but this is more skewed...
South Korea's financial regulator, the Financial Services Commission (FSC), has said that financially troubled MG Non-Life Insurance Co's policy...
The APAC region, particularly in South Korea and Japan, experienced significant wildfires, floods and earthquakes in the first quarter of 2025...
Parcel theft, otherwise known as 'porch piracy' is an increasing concern among Australians, especially during peak seasons like Black Friday and...
To address the country's rapidly declining birthrate Japan's health ministry is all set to eliminate out-of-pocket payments associated with child...
Nearly two-thirds (62%) of respondents to a new survey in Japan do not plan to travel this year, with 92% citing a lack of money or high costs as the...
State-owned Reasuransi Indonesia Utama (Indonesia Re), the largest reinsurer in Indonesia, has highlighted the importance of strengthening the...
The risk landscape for APAC insurance chief risk officers (CROs) has never been so complex, with the geopolitical and regulatory environments and new...
Ageing societies are commanding the attention of chief risk officers (CROs) in the Asia-Pacific, according to EY Asia-Pacific Consulting insurance...
The total net income of the Philippine insurance industry grew to PHP15.30bn (276.6m) for the first three months of this year, 7.1% higher than the ...
Total gross premiums generated in the insurance industry in Cambodia grew by 6% to $102.3m in 1Q2025, compared to $96.6m in the corresponding quarter...
Insurance brokers in India find themselves having to navigate a rapidly transforming landscape. Increased competition is coming not only from within...
Mutual benefit associations (MBAs) have posted a combined net surplus of PHP1.59bn ($28.67m) in 1Q2025, dropping by 25.21% from PHP2.12bn in 1Q2024,...
The energy insurance segment in Asia continues to experience a soft market cycle which has created a favourable environment for clients in 1Q2025,...
The Philippine life insurance sector's total net income rose by 12.22% to PHP10.83bn ($195.72m) in the first three months of this year from PHP9.65bn...
The Insurance Brokers' Association of India (IBAI) faces several challenges in helping its members remain relevant and profitable in the evolving...
The Philippine non-life insurance sector performed well in the first quarter of 2025, marking a recovery from the downturn experienced in 2024, said...
Prudential Thailand's shift towards high-margin, needs-based products that are less sensitive to interest rates, has helped the company to protect...
India has around 267m tobacco users, making it the second-largest tobacco consumer market globally, according to the World Health Organization's...
Geopolitical tensions are playing out in new and novel ways for the shipping industry, which is already juggling the energy transition and the legacy...
Insurers seek transparency in ESG practices in their investment operations, with some desiring assessments of their efforts to reach their net zero...
The question of how insurance policies may be impacted amidst the current trade war, tariffs and the effect on supply chains was one hot topic at the...
In APAC, there are 40% more cyber attacks on businesses per week than the global average, making the region a very target-rich environment and one...
Rising healthcare costs and unmet personalisation needs are fuelling demand for more tailored and accessible employee benefits, according to the...
Shanghai-headquartered XChange TEC, which recently acquired an insurance brokerage, has submitted an appeal to stave off delisting from Nasdaq.
The Sri Lankan insurance sector, which has traditionally been a fragmented market, is shifting towards consolidation, Softlogic Life managing...
The room for improvement in health insurance in the travel space is huge, according to Air Doctor founder and chief revenue officer Efrat Sagi-Ofir.
How insurers can grow their health insurance business through virtual health services was one key question discussed at the InsurTech Connect Asia...
India's insurance industry is experiencing a talent evolution with skill priorities that differentiate it from global markets. Insurance...
Organisational approaches to supply chain risks and insurance experienced bouts of "consistency and notable shifts" between 2023 and 2025, said WTW's...
Jumps in hedging costs, sharp currency rate fluctuations, and new regulatory proposals regarding FX risk management are developments that need...
There has been a notable shift in the landscape of supply chain risks, according to a 2025 survey conducted by WTW. As businesses faced increasing...
Vietnam has affirmed the private sector as the most crucial engine of the national economy, opening up opportunities for the insurance market among...
As economic volatility rises and margins come under pressure across APAC, life insurers are reassessing their operating models. Boardroom...
New research-based evidence has emerged that shows that China's urban-rural health insurance integration has had a positive impact on the mental...
The Indian government may not go ahead with its proposal to allow insurance agents to tie up with more than one insurer in each of the three...
Credit insurer Coface's 1Q2025 Asia payment survey reveals that businesses across Asia, facing economic uncertainty, are bracing for longer customer...
Escalating climate shocks are deepening an insurance crisis that threatens both social resilience and financial stability-shifting unaffordable risks...
Inflation has a multifaceted impact on insurers and consumers, QBE Asia CEO Rob Kosova said in an exclusive interview.
People and culture are part of QBE Asia's strategic priorities, the company's CEO Rob Kosova said, outlining how it plans to continue to attract and...
Part of the strategy refresh in QBE Asia has included a renewed emphasis on wholesale markets and a change in the company's leadership in Vietnam, ...
As populations across Asia continue to age rapidly-particularly in markets like Hong Kong, Singapore, Japan, Korea and even in mainland China-the...
Most people who work in insurance do so because they care about people, according to QBE Asia CEO Rob Kosova.
Investors are encouraged to evaluate their portfolio exposure to deforestation and linked human rights abuses, phase out deforestation and forest...
Mitigating cyber risk requires a mindset shift from viewing cyber security as an IT issue to seeing it as a critical business priority, according to ...
Many small- and medium-sized enterprises (SMEs) shield themselves through a false sense of security from the reality of cyber risk, Etiqa Insurance...
Australia is seeing an emerging dual crisis of growing housing inequity. Rising prices relative to wages in metropolitan areas are creating...
The Singapore cyber insurance market has seen some sharp shifts over the past year, said MSIG Singapore senior vice president (technical services)...
Neighbourhood connections may be the answer to combatting residential petty crime, a new survey commissioned by AMI Insurance found.
Businesses should take a holistic approach by addressing people, processes and technology within their organisations, to mitigate effectively cyber...
One pressing reality that continues to affect all of us is medical inflation.
Despite retirement aspirations that included living with enjoyment, meaning and financial independence, which were revealed to be more valued than...
Australia is ranked among the world's top eight wine-producing countries, and contributes more than A$45bn ($29.4bn) annually to the national economy.
The latest industry loss estimate for tropical cyclone Alfred, which affected the states of Queensland and New South Wales in Australia is A$2.25bn...
As the adoption of artificial intelligence (AI) systems accelerates globally, the International Association of Insurance Supervisors (IAIS) released...
The Australian Securities and Investments Commission (ASIC) has warned the public to stay away from pushy sales tactics that recommend quick...
Today's insurance consumers are not only seeking more personalised and accessible insurance products, but they are also prioritising transparency and...
Asia-Pacific life profitability outlook remains stable, though foreign exchange hedging costs may weigh on margins in Japan, says Swiss Re Institute...
There is no doubt that artificial intelligence is taking the world by storm and disrupting markets. Insurers are increasingly tapping into its...
Asia continues to lead global renewable energy growth, fuelled by rising energy demand, ambitious net zero targets and the increasing...
While AI can transform how insurers serve customers, it should never be used just for the sake of it, bolttech CEO APAC Philip Weiner says.
Although claims frequency in Asia for merger and acquisition (M&A) deals are still lower, as compared to more mature regions, there has been a steady...
Protection gaps are widening particularly in cyber, climate change, ageing populations and urban mobility, according to bolttech CEO APAC Philip...
Cathay Century Insurance has plans to transform policyholder experience, including building a smart platform where backend agents will gain real-time...
Insurers increasingly require evidence of robust cyber risk management as part of underwriting and are incentivising businesses to implement best...
A high incidence of disclosure-related breaches as well as a consistent relatively high frequency of claims in smaller transactions have been...
The volume and value of merger and acquisition (M&A) transactions across Asia rose in 2024, after M&A activity fell in 2023, according to Aon in a...
The Asia Pacific (APAC) region is seeing significant competition among many international insurers and the increasing numbers of cyber insurance...
The integration of charitable giving, as well as environmental, social and governance (ESG) considerations into wealth management is a rapidly...
The Ministry of Finance has granted approval to Vietnam Technological and Commercial Joint Stock Bank (Techcombank), a publicly listed bank, to...
Discussions are underway among stakeholders in the reinsurance sector to develop a plan for the consolidation of state-owned reinsurers in Indonesia.
The human touch is essential to help generate confidence in insurers among customers, especially during the claims process when policyholders are at...
Eight out of the nine reinsurance companies established in Indonesia have met the first phase of minimum capital requirements (MCR) for 2026,...
The marine insurance sector, traditionally known for being conservative, has undergone rapid innovation driven by recent geopolitical events, the...
Insurers have been selling new products that separate death and permanent total disability benefits from supplementary benefits in investment-linked...
Premium income in the Indonesian insurance market inched up by 0.65% year-on-year (yoy) to IDR166.26tn ($10.15bn) in the first half of 2025,...
Many people in Asia continue to struggle with long-term financial planning, according to Sun Life Asia chief client and distribution officer David...
Insurance rates in Asia fell by 5% in the second quarter of this year, according to Marsh's latest Global Insurance Market Index. The pace of decline...
Insurance companies in Taiwan posted a combined pre-tax profit of NT$19.4bn ($648.6m) in the first half of this year, according to data released by...
The life insurance market in Vietnam showed positive signals in the first half of this year, with total life insurance premium revenue estimated at...
The 7.7-magnitude earthquake that struck Myanmar in March 2025 has caused estimated economic losses of $12bn, according to Munich Re NatCatSERVICE's...
AI adoption is well underway in Asian bancassurance, but the transition to agentic AI, where AI actively performs tasks autonomously, is just...
The retail health insurance market in Pakistan is disadvantaged and underserved, according to a report released by the Securities and Exchange...
APAC is experiencing significant growth in cyber claims notifications, driven by the rising frequency and sophistication of cyber incidents, says...
There is a pressing need for healthcare sector transformation, given issues and bottlenecks in the delivery of healthcare services, with a special...
Trends in the Asian insurance market observed earlier in the year have continued unabated into the second quarter of 2025. Clients still benefitted...
Central Reinsurance Corporation (Central Re) has encountered a modest decline in domestic market share in recent years, given that its portfolio has...
Conditions in the automobile insurance market are moderate overall, although insurer appetite continues to be shaped by loss trends, according to the...
The rising frequency and severity of extreme weather events over the past decade, driven largely by climate change, have led insurers to withdraw or...
Patch management, network segmentation and maintaining up-to-date data backups have been identified as the most effective mitigation strategies that...
Technology plays a critical role in service delivery and experiences for high-net-worth (HNW) clients, HSBC Life Singapore CEO Harpreet Bindra has...
Many countries across Asia have a significant proportion of people aged 65 or over, according to QBE Asia's report, titled "Managing the Risks of an...
The Office of Insurance Commission (OIC), the insurance regulator, is playing its part to help promote Thailand as a tourism destination, by...
The Financial Supervisory Commission (FSC) is encouraging the insurance industry to establish a 'designated contact person' mechanism for insurance...
The underperformance of Pakistan's insurance industry is symptomatic of deeper structural constraints that continue to hinder the sector from...
Actuaries can bring clarity to a world where uncertainty and unpredictability are "through the roof", said Singapore Actuarial Society council member...
It is not too late for senior actuaries to learn to use AI and the technology is unlikely to derail their careers, Uber Technologies vice president...
Speed and efficiency are critical when processing claims because the claim period represents a stressful time for policyholders and certificate...
A total of 1,340 people died on Australian roads in the 12 months to 31 July 2025, according to the Australian Automobile Association (AAA). This...
Life and health (L&H) insurers and takaful operators in Malaysia have been grappling with mounting challenges driven by steep medical inflation,...
The biggest worry of Singaporeans is the high cost of living (according to 75% of respondents to a survey), followed by healthcare costs (56%) and...
Baby Boomers (people aged 55 and above) regret not planning for retirement earlier, according to a survey -- 'SG60 Financial Future Poll' --...
Slightly more than half (51%) of Gen Zs are optimistic about their future in the next 60 years, and are confident they will be able to retire well...
After a 40-year absence, the Pacific Insurance Conference (PIC) is making its highly anticipated return to Korea in 2025, marking a significant...
Global reinsurers built their capital by at 4.8% to $805bn, as of 1H2025, an increase of 4.8% versus the restated full-year 2024 base, according to...
There is a need for increased driver awareness on Australia's roads, especially between dawn and dusk, because of the risk of wildlife collisions.
The softening insurance market in New Zealand has continued through 1H2025, according to Gallagher Insurance's "Insurance Market Update", published...
The earthquakes felt in both Sabah and Peninsular Malaysia in recent weeks serve as a reminder that the country is not free from seismic activity and...
The bedroom is the most targeted room in home thefts, according to a survey by the price comparison platform, Compare the Market
The number of non-contributing members to KiwiSaver, a voluntary savings scheme to help New Zealanders fund their retirement, is on the rise,...
Geopolitical tensions, protectionist policies and shifting economics are reshaping global supply chains, raising costs, amplifying uncertainty and...
Weather insurance for farmers can be classified into two broad categories, NTU associate professor Zhu Wenjun said at the recent Singapore Actuarial...
The increasing frequency of floods suggests they can no longer be viewed as a secondary risk, according to Nanyang Technological University (NTU)...
A question addressed at the Singapore Actuarial Conference 2025 was how insurers, in pricing medical insurance plans, can work around coverage,...
The question of who should bear the costs of new medical treatments was raised during a panel discussion at the Singapore Actuarial Conference 2025,...
Participants at the recent Singapore Actuarial Conference discussed the qualities needed in actuaries who aspire to move into business leadership...
Two thirds (68%) of consumers under 40 see life insurance as essential for a healthy financial future; yet, current offerings are not aligned with...
The APAC region presents immense diversity, spanning East Asia, North Asia, Southeast Asia, South Asia and Oceania.
Backed by a regulatory environment that encourages companies to practise environmental, social and governance (ESG), insurers will play an...
Consumer demand is growing for value-driven insurance solutions that offer both affordability and personalisation, MSIG Singapore CEO Mack Eng said.
For the first time, health insurance has overtaken motor coverage as the largest line of business in Singapore's domestic market, said MSIG Singapore...
Structural changes to Australia's labour force are "blurring what was once a sharp divide between work and retirement", according to KPMG Australia.
The expected retirement age in Australia has moved up, driven over the long term by a growing cohort of 'ageless workers' - older Australians who are...
The inaugural Global Insurance Excellence Awards (GIEA), hosted by Bajaj Allianz General Insurance, last month highlighted the critical role of...
Raising a child is never an easy task, and the present economic climate makes the challenge especially hard, Sun Life Grepa said in a statement.
The premium income and other revenues of Japan's 41 life insurance companies increased slightly by 0.1% year on year to JPY43.0tn ($292.4bn) in the...
The 31 members of the General Insurance Association of Japan (GIAJ), in the financial year ended 31 March 2025 (FY2024) posted a combined net income...
Urbanisation, evolving consumption, and digitalisation are expected to shape the financial needs and risks of Emerging Asia, which insurers must...
The Financial Services Authority (OJK) has urged local insurance companies not to use domestic reinsurance as a vehicle to dispose of unprofitable...
The Reserve Bank of India (RBI) has proposed that a risk-based premium system should replace the current flat rate system for the deposit insurance...
Almost half (45%) of Australians who accessed mental health services in the past year used private health insurance, new research from Money.com.au...
India is exploring a countrywide parametric insurance programme for climate risks, according to a news report by Reuters.
New data released by the Insurance Council of Australia (ICA) shows that Australia has consistently taken the silver medal for extreme weather losses...
Singaporeans are among the most vigilant globally when it comes to cyber security, leading the Asia-Pacific region in multi-factor authentication...
The insurance industry is seeing a major transformation as the mobility landscape evolves, according to SCOR head of P&C product and innovation, Mr...
A significant proportion of Australians, polled in a recent survey, admitted to eating or drinking behind the wheel, followed by speeding over the...
Pricing insurance coverage for ecological restoration is a challenge and "super tricky", according to SCOR head of P&C product and innovation, Mr...
The Malaysian government has proposed various incentives to encourage Malaysians to buy insurance policies.
Manufacturing executives in the Asia Pacific region are the third most concerned about cyber risk (29%) compared to other industries, only behind...
The Indian insurance regulator IRDAI has urged all entities under its oversight to promote cyber security awareness in both the public and private...
The newly-established sovereign wealth fund Danantara has plans to consolidate the state-owned insurance and reinsurance sector, the fund's managing...
Governments and regulators have fallen short in appreciating the role of the specialty broker, according to Mr Christopher Croft , chief executive of...
The government has proposed the establishment of the Actuarial Institute of Bangladesh (AIB) to develop and promote the actuarial profession in the...
The leading medical conditions expected to influence medical cost trends in 2026 in APAC remain largely consistent with the conditions of 2025,...
Aon, a leading global professional services firm, has projected an 11.3% rise in Asia Pacific (APAC) employee medical plan costs, signalling...
Several banks are moving to establish insurance companies to expand their financial ecosystems and gain a stronger foothold in the bancassurance...
Reasuransi MAIPARK Indonesia (MAIPARK) noted that the majority of residential homes in Indonesia are uninsured, according to Strategic Planning &...
Insurers are preparing for another year of economic uncertainty, with inflation once again emerging as a leading macroeconomic concern, according to...
Health insurance has a positive impact on increasing the utilisation of healthcare facilities, meaning that individuals with health insurance are...
Life insurers and takaful operators (ITOs) in Malaysia were affected by weaker equity investment performance amid uncertainty surrounding US tariffs...
The Insurance Regulatory and Development Authority of India (IRDAI) has issued new guidelines establishing a comprehensive regulatory framework to...
The number of claims in Thailand arising from a powerful magnitude-8.2 earthquake that struck central Myanmar earlier this year was higher than...
While financial security is regarded as a cornerstone for legacy planning across the region, more than half of the respondents to a survey by Sun...
Consumers who are optimistic about economic improvement are more likely to boost their insurance spending compared to those who believe the economy...
Global economic and policy uncertainties and the consequent volatile financial market conditions are expected to continue to pose a key downside risk...
The general insurance and takaful sector's operating profits were broadly sustained at MYR1.9bn in the first half of 2025, according to Bank Negara...
The Securities and Exchange Commission of Pakistan (SECP) has released a report by its Annuity Working Group (AWG) that highlights key gaps in the...
The Annuity Working Group (AWG), formed by the Securities and Exchange Commission of Pakistan (SECP), has proposed the development of a regulatory...
Quantum security will emerge as a top priority for enterprises across the APAC region in 2026. More than 90% of the firms in the region are expected...
The conversation around flood risk in the (re)insurance industry is "shifting from response to proactivity", according to Dr Andrew Smith, COO of...
Insurers tightening policy wordings, raising premiums and, in some cases, withdrawing from high-risk regions as traditional insurance models are...
Australians of all ages are feeling the squeeze of rising costs, mental health pressures, and uncertainty about their financial futures, according to...
Diversification will continue to drive reinsurer strategies in 2026 and beyond, according to Francis Savari, CEO of UIB Asia Reinsurance Brokers.
Eight in 10 people (83%) in Singapore said they have delayed care in the past year, according to an Economist Impact report commissioned by...
Non-life insurer, Chubb Insurance Malaysia, has filed for an initial public offering (IPO) on Bursa Malaysia to sell 300m existing shares, or 30% of...
The life insurance industry in Singapore continues to shift due to technological innovation, evolving consumer demands for long-term protection needs...
The Insurance Development Forum (IDF), a public-private partnership that aims to close insurance gaps, has released a new paper, addressing the...
Ranked the top risk both globally and in APAC, according to Aon's 2025 Global Risk Management Survey, cyber is an interesting line of business, said...
Climate risk has become "a recurring theme" in the insurance market, according to Aon's Head of Commercial Risk Solutions for APAC, Terence Williams.
All life insurers in South Korea will be able to launch products, enabling life insurance policyholders to have access to death benefits early in...
Location and the construction of valuable assets are critical determinants of loss potential, especially as the likelihood of Nat CAT increases, said...
Insurers would fail to fulfil their role if they take an exclusionary approach, refusing coverage to the most vulnerable, according to French global...
There is healthy and growing demand for specialty and facultative solutions right across Asia, and it is not limited to developed markets, according...
Talent is a critical factor in building a sustainable wholesale business, according to the CEO of Wholesale Markets Asia at QBE, Mr Ronak Shah.
Claim losses from a devastating fire at a residential estate in Hong Kong will add pressure to the underwriting results of the property/casualty...
Allianz SE Reinsurance has appointed Ms Anna Kohls as the new Regional CEO and Head of P&C Client Management of its reinsurance branch in Singapore,...
The Central Commission for Discipline Inspection and the National Supervisory Commission have issued an official statement confirming that they have...
Technology is not an end in itself but an enabler that helps insurers sever clients better and make smarter decisions, Mr Ronak Shah, CEO of...
Geopolitical instability and climate risk are two realities that insurance clients face every day, according to the CEO of Wholesale Markets Asia at...
Sixty-three per cent of South Australians have not prepared their home for bushfire season, according to new research from AAMI.
The Insurance Council of Australia (ICA) has warned residents affected by last month's severe storm and hail event to be wary of disaster chasers.
Cyber crime topped the Singapore, APAC and global risk rankings in 2025, according to the PwC report, titled 'Insurance Banana Skins 2025 - Singapore...
The total premium income of the Philippine pre-need industry reached PHP17.52bn ($313m) in the first three quarters of 2025, up by 3.92%, compared to...
APAC insurers are increasingly embracing external managers for reasons tied to strategy, governance, and technology, not simply operational...
Young caregivers aged 10 to 20 suffer significant emotional strain and fear when a parent falls critically ill, according to Income Insurance.
The number of insurance companies marketing health insurance products has been declining, according to data from the Financial Services Authority...
The Financial Services Authority (OJK) is finalising a regulation concerning risk sharing between insurance companies and their customers in the...
Korean Reinsurance Company's (KRE) dominant market position will remain unchallenged over the medium term, despite its ongoing portfolio...
Half of the attendees at a Root Platform's Managing General Agents' Association (MGAA) market briefing, are still at the earliest stages of their...
International health insurance is the second most valued benefit for both HR decision-makers and international assignees (HR: 43%, IA: 54%), losing...
The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 has been passed by both houses of Parliament.
Thai Reinsurance Public Company Limited's (THRE) underwriting performance is expected to be weaker in 2025, with the full-year combined ratio around...
The main drivers of increased technology spending on asset liability management are regulatory demands, including heightened requirements for stress...
The Office of Insurance Commission (OIC) has issued a directive requiring insurance companies to issue compulsory third-party motor vehicle insurance...
The Financial Services Authority (OJK) has introduced the Insurance Support Programme (ISP) to mitigate risks in the online lending sector.
Guangdong vehicles have for the first time been allowed to enter Hong Kong's urban areas. The Southbound Travel for Guangdong Vehicles (Entry into...
Reinsurers saw rate reductions approaching 20% in Asia Pacific for non-loss impacted accounts in 1 January renewals, Aon, a leading global...
The Law amending the Insurance Business Law takes effect today, focusing on administrative procedure reform and expanding the scope of business for...
The Office of Insurance Commission (OIC) is moving forward on a project to develop a strategic plan for voluntary health insurance, according to a...
Indonesia Re has assessed that the rising claims trend in Indonesia, particularly due to climate change, will impact future reinsurance treaty...
The Insurance Development and Regulatory Authority (IDRA) has issued, for the first time, regulations governing the duties, responsibilities,...
The Insurance Development and Regulatory Authority (IDRA) has amended its rules for the appointment of insurance CEOs, easing eligibility criteria.
The Financial Supervisory Commission (FSC) has proposed amendments to regulations to better reflect the long-term operational realities of the life...
The Vietnamese insurance industry is expected to show a cautious but more sustainable recovery in 2026, according to analysts at Vietcap Securities.
The Financial Services Authority (OJK) has issued a regulation concerning the implementation of risk management for insurance companies, guarantee...
APAC-based insurers are preparing to take on higher levels of investment risk over the next two years.
Property-catastrophe reinsurance renewals in the Asia Pacific region were competitive at 1 January 2026, noted Howden, the global (re)insurance...
The Financial Services Authority (OJK) has announced that 115 out of 144 insurance companies (around 80%) in the country have met the 2026 capital...
The Global Reinsurance Summit (GRS), conceived in 2023 and shaped through joint efforts of IFSCA-IRDAI and GIFT City, is now poised to continue its...
The continued increase in road fatalities in Australia underlines the need for the Commonwealth to assume a leadership role by conducting no-blame...
Sedgwick, the world's leading risk and claims administration partner, has published its 2026 forecasting report.
The implications for the life insurance sector could be profound when a proposal by the Financial Supervisory Commission (FSC) to amend foreign...
Korea's Financial Services Commission and Financial Supervisory Service have announced that, starting 1 January 2027, the core capital K-ICS ratio...
Korean insurers are expected to recalibrate their capital strategies to focus on accumulating sustainable core capital in the wake of an announcement...
French global reinsurer SCOR has joined a consortium of more than 10 leading (re)insurers to back a groundbreaking, aggregated global insurance...
State-controlled China Taiping Insurance Holdings Company (CTIH) has issued a positive profit alert, stating that it expects profit attributable to...
What has really driven ESG considerations among corporate clients, including insurers, over the past three to four years has been the introduction of...
Environmental, social and governance (ESG) risks are becoming an increasingly material consideration for Malaysia's insurance industry, driven by...
Severe weather events are affecting food and beverage (F&B) supply chains in Asia.
A multi-trillion-dollar protection gap continues to hang over Hong Kong despite the territory being one of the world's leaders in life insurance...
An expected increase in business insolvencies across the region will drive claims from stakeholders challenging management accountability and general...
A directive issued by Thailand's regulator, the Office of Insurance Commission (OIC), which addresses motor insurance policies and the issuance and...
Proposed new core capital ratio requirements in South Korea will enhance the quality of insurers' capital and sector resilience, but insurers could...
The Indian financial authorities aim to advance the insurance-linked securities (ILS) and catastrophe bond framework within India, specifically...
As Asia continues to age, two retirement paths are now emerging, alongside the sense that retiring is becoming a test of preparation, adaptability...
Nippon Life Insurance Company's (Nissay) large and stable in-force book of business in Japan, coupled with a gradually improving earnings mix and...
More people are turning to generative AI for financial decisions, according to the findings of a study by Sun Life.
The government is increasing the investment limit for pension funds and insurance companies in the capital market from 8% to 20% of their total...
Leading global reinsurer SCOR SCOR has grown its P&C portfolio selectively, seizing profitable opportunities while maintaining a strong underwriting...
Globally, the direct economic cost of Nat CAT in 2025 was estimated at $296bn, below the decadal average of $394bn (2015 to 2024) and most recent...
Several factors are complicating accessibility to healthcare, according to a study commissioned by Prudential plc.
A noted lack of confidence in New Zealand in the public health system is behind the shift of individuals to the private sector.
Cancer has emerged as the fastest-growing condition in both insurance utilisation and cost across the Asia Pacific region over the past 18 months,...
The Office of Insurance Commission (OIC) has unveiled new regulations under which citizens have the option of purchasing motor insurance with either...
A heated race is currently taking place in the insurance industry to launch insurance apps on AI platforms.
Incidents threatening individuals or client assets rose by over a third in 2025, representing 37% of all reports submitted to Alert:24, Willis's...
Businesses are expected to operate in an environment of persistent uncertainty in 2026, according to the latest "Crisis Management Annual Review" by...
M&A activity in the APAC region's insurance industry is predicted to surge A new study has predicted a surge over the next three years, according to...
The year 2026 is expected to see positive growth in the insurance market, according to estimates by the Insurance Supervision and Management...
The Indonesian life insurance industry's outlook for 2026 is projected to show more stable growth after premium performance experienced pressure...
The general insurance and reinsurance sector in Indonesia recorded positive performance in 2025. This growth demonstrates the industry's resilience...
The Financial Supervisory Commission (FSC) has revised its guidelines for foreign exchange price fluctuation reserves to strengthen the life...
S&P Global Ratings (S&P) has revised its outlooks on Tokio Marine Group's core and highly strategic subsidiaries to 'Positive' from 'Stable', except...
The Financial Supervisory Service FSS), South Korea's fully integrated supervisory authority, seeks to focus on innovation, trust, stability, shared...
The Indonesian General Insurance Association (AAUI) is coordinating with other associations, such as the Indonesian Life Insurance Association (AAJI)...
Vietnam's Insurance Supervisory Authority (ISA) has outlined its market development strategy from 2026 to 2030, the overarching objective of which...
The Financial Supervisory Commission (FSC) has said that it would soon issue an order allowing insurance companies to directly or indirectly invest...
After four decades of rapid economic development, urbanisation, and lifestyle change, Asia Pacific is now witnessing an unprecedented increase in...
Alpha Reinsurance Joint Stock Company (AlphaRe) has been officially launched as Vietnam's third dedicated reinsurer.
Paris-headquartered global reinsurer SCOR has reported a net income of EUR851m ($990m) for the financial year ended 31 December 2025, according to...
Global trade credit risk management group Coface has forecast global growth of 2.6% this year, a slight easing from 2.8% in 2025. The forecast was...
The Financial Services Commission (FSC) will establish a joint taskforce to monitor the ongoing armed conflict in the Middle East. This initiative...
With fuel prices expected to rise due to the war in Iran, Aussie motorists driving less in 2026 could save hundreds by updating one key detail on...
Chubb will serve as the lead partner for the $20bn Maritime Reinsurance plan designed to resume commercial shipping in the Gulf, the US International...
Taiwanese insurers' Tier 2 bond terms are viewed as more investor-friendly than those of most other APAC insurers due to their must-pay coupons,...
There is a heightened risk of severe cyberattacks during or following the military action in the Middle East, according to S&P Global Ratings (S&P),...
Global economic growth should be steady this year provided the current oil price shock is not prolonged, Fitch Ratings says in its latest March 2026...
The Australian Automobile Association (AAA) is continuing to urge the Commonwealth government to lead changes to Australian road safety management...
As small and medium enterprises (SMEs) rapidly adopt Artificial Intelligence (AI) and cloud-based infrastructures to scale, they are discovering that...
As extreme weather events intensify, insurers face interconnected pressures, including how to price physical risk more accurately, manage growing...
PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, has released its fourth and final industry loss...
The impact of the new health insurance regulation that will take effect from 22 March 2026 will only be discernible in the middle of this year,...
Changing temperatures associated with climate change mean that "the Poles are warming faster than the Tropics", according to FM Research Group...
Great Eastern Group CEO Greg Hingston has said that the life insurer, a leader in the sector in Singapore, has taken a number of measures to try and...
Great Eastern is intensifying its focus on high-net-worth (HNW) individuals and families across Asia. Towards this goal, Great Eastern unveiled on 3...
The Asia-Pacific market has become the fastest-growing target for ransomware groups in the world, with cybercrime surging sharply in the region in...
The Insurance Association of China has stated that it will promote the implementation of model clauses for humanoid robot insurance.
High-net-worth (HNW) individuals prefer life insurance as a legacy planning tool, surpassing traditional options such as wills and trusts, according...
Asia shows a divided picture when it comes to legacy planning, according to the findings of a survey published by HSBC Life.
Brought to you by