The majority of insurers have yet to take significant steps towards digitalisation, according to the findings of a survey by the Securities and Exchange Commission of Pakistan (SECP) on digitalisation in the insurance industry in the country.
The insurance industry in Indonesia is ready to face significant digital transformation, according to Coordinating Minister for Economic Affairs Airlangga Hartarto.
When it comes to capital optimisation, Aon strategy and technology group global CEO Sherif Zakhary said, each insurer would have "a different parameter for success".
The failed CrowdStrike update that caused mayhem for the computer systems of many corporates in Asia Pacific could see insurers in the region faced with hefty claims that no one saw coming.
The 19 July cyber security software incident at CrowdStrike is unlikely to have a material impact on global (re)insurer financial results, Fitch Ratings says.
The Insurance Authority (IA) says that it and the country's insurance sector was unaffected by the 19 July massive global tech outage.
The Financial Services Commission (FSC) has announced that the Act on the Protection of Virtual Asset Users, aimed at establishing sound order in the virtual asset market and ensuring protection for users, would take effect from today (19 July).
Najm for Insurance Services Company (Najm) has launched a new telematics initiative to improve road safety in Saudi Arabia. The motor services company has already partnered with a number of insurance companies to adopt the new telematics system.
The Financial Regulatory Authority (FRA) has ordered non-banking financial institutions (NBFIs) to acquire cyber insurance policies among several moves to adopt measures to enhance their cybersecurity system and protect sensitive IT systems and data.
AIA Singapore has appointed Mr Afees Ashroff as chief technology officer. He succeeds Mr Peter Lee.