While the global non-payment insurance (NPI) market is estimated to be worth more than $160bn, APAC-domiciled banks account for less than 15% of this total, says WTW, a leading global advisory, broking, and solutions company.
Synpulse has appointed Mr Joel Lim as partner and head of insurance APAC. In his new role, he will focus on enhancing insurance and banking propositions in the APAC region, including digital transformation, legacy modernisation, embedded insurance and data and AI.
In a bid to provide more opportunities for insurance companies and fintech firms to co-develop innovative insurance products, the Financial Supervisory Commission of Taiwan (FSC) now allows cross-industry collaborations.
Without insurance, businesses "will be unable to reach their net-zero transition goals or become resilient in the face of the changing climate", according to a whitepaper by Howden and BCG, titled The bigger picture.
Cost of medical care in Malaysia is rising, Etiqa Family Takaful CEO Zafri Ab Halim said.
FWD Group Holdings Limited's (FWDGHL) earnings and fixed-charge coverage ratio are expected improve steadily in the next year or two once non-recurrent costs ease, according to Fitch Ratings.
Prudential has appointed Ms Chan San San as CEO of Prudential Singapore, effective September 2024 and subject to regulatory approvals. She will succeed Mr Dennis Tan who currently holds the Singapore CEO role in addition to his position of managing director of the Strategic Business Group (SBG) with oversight of Singapore, Thailand and Vietnam.
The main goal of the Digital Insurance APAC 2024 conference, according to Zurich Insurance APAC head of operational excellence and sustainability Luz Grande Vega, was to "explore the cutting-edge technologies, best practices and thought-provoking ideas that will hopefully shape Asia-Pacific insurance in the next years".
The Asia Care Survey 2024, conducted by life insurer Manulife found physical wellbeing was considered the most important to respondents, with 39%. Financial and mental wellbeing came in second and third place with 32% and 29% respectively.
The outlook for most of the life insurance markets in Asia Pacific is stable, said S&P Ratings Services in a report published last week.