NFRA and MAS reaffirm commitment to strengthen supervisory cooperation

...technology resilience, digital assets, artificial intelligence and green finance....

Motor InsurTech eyes SE Asia and Middle East markets to serve Chinese NEV manufacturers overseas

...Nasdaq-listed Beijing-headquartered Cheche Group, a leading auto insurance technology platform in China, has said that its long-term plans include extending its partnerships with auto manufacturers beyond China....

AIA China announces 4th regulatory approval for new market in 2 months

...technology and e-commerce enterprises, Zhejiang is accelerating its development to become a global digital economy hub....

Low-altitude insurance market to reach up to US$1.38bn by 2035

...technology, application scenarios, consumer behaviour and regulations. ...

How financial institutions can address deepfakes

...technology providers, regulatory bodies, and industry groups. “By sharing knowledge, developing standards, and coordinating responses, the financial sector...

Australia: Insurance talent gap widens as workforce ages

...technology, or purpose-driven like medicine, or even high-paying banking roles....

India: New entrants and digital players intensify competition

...technology-driven customer-centric approaches such as smartphone-enabled inspections, AI- and machine-learning-based fraud detections, instant approvals and easy digital claims, and ecosystem ...

Two-thirds of insurance agents believe AI will have huge impact on sales

...technology empowerment....

Insurance association releases claim service standards

...Technology Co, China Life, Ping An Life, China Pacific Life, China Taiping Life, New China, AIA and other entities. In formulating the standard, the working group looked at more than 200 industry cla...

India: Opportunities abound in InsurTech sector

...technology (e.g. face scan for medical underwriting, health score basis behaviour)....

Egypt: Broking InsurTech obtains new funding of US$2.3m

...technology infrastructure firmly established, we're now focused on evolving it with advanced capabilities, including AI-driven innovations. This approach allows us to amplify efficiencies within...

bolttech secures US$50m venture debt facility

...technology and product capabilities while enhancing operational flexibility....

Singapore: Prudential launches AI Lab to tackle insurance challenges and accelerate AI adoption

...technology partners. ...

Singapore: Prudential launches AI lab

...technology offers. The Prudential AI Lab will significantly enhance our ability to deliver exceptional experiences for our customers, agents and financial representatives, across all markets,”...

Life insurers need to match expectations of talent with AI adoption

...technology to tackle complex challenges and inspire teams to break beyond traditional boundaries”, as emerging technologies would need to be quickly assessed and anticipating shifting consumer...

Australia: Insurers say consumer law and proposed guardrails will help identify gaps in AI-enabled services

...The current technology-neutral Australian Consumer Law (ACL) should be maintained and applied to new and emerging technologies as it already is, says the Insurance Council of Australia (ICA)....

Australia: Actuaries Institute paper says SMEs risk being left behind in countering cyber crime

...While a series of cyber attacks in the past two years provided a stark wake-up call for Corporate Australia to strengthen their cyber security and preparedness, many small-to-medium-sized businesses (SMEs) have not followed suit, said Taylor Fry principal Win-Li Toh....

China: AutoTech firm forms partnership with intelligent EV co

...technology....

Deposit Insurance Fund takes stake in insurer from troubled shareholder

...Technology Development Co, the insurer’s fourth biggest shareholder, had been ordered to transfer 466m shares in the insurer, representing a stake of 4.6%, to the Deposit Insurance Fund Corpora...

Higher vehicle sales drive up new-energy vehicle insurance premiums

...Technology, told Securities Daily. At the same time, since NEV insurance business still have to deal with high accident rates and high claim rates, the premium rates for NEV insurance r...

Investment volatility expected to continue to affect ZhongAn's operating results

...technology, over the last few years....

Regulator urges insurers and other financial institutions to improve elderly-friendly products and services

...technology to replace handwritten signatures. The elderly should not be forced to use bank cards, Internet mobile applications, and self-service smart devices....

New Zealand: Insurance legislation updated to provide new consumer safeguards

...technology that can unlock significant health and productivity benefits. However, there are international examples of insurers limiting cover, or increasing premiums, due to genetic testing results....

Australia: Insurance and other sectors to feel impact of mandatory climate disclosure

...The impact of recent legislative changes that have made climate disclosure mandatory in Australia will be wide-ranging, according to Xceedance, which provides insurance-focused consulting, technology, operations and data solutions. Businesses are being encouraged to prepare for the likely impact....

China: AIA Group expands branch network to 13 with regulatory approval for Chongqing

...technology innovation, advanced manufacturing and aerospace-related industries. With a high concentration of top professional talent, the city’s dynamic workforce is driving demand for health a...

Egypt: Financial regulator forms specialised committees to draft insurance rules

...technology and investment committees....

New Zealand: Life market increases operational efficiencies in wake of tech investments

...technology to improve operational efficiency to better address consumer demand. Digital underwriting tools and online application systems are being adopted by a growing number of insurers to enhance...

Insurance M&A in Asia balances market volatility and technological advancements

...technology and enhance distribution,” Mr Hodgkinson said. Despite the favourable conditions for M&A activity, he highlighted that actual transactions ha...

South Africa: Murder and deceased estate fraud emerge as concerning trend for life insurers

...technology such as artificial intelligence, improved industry collaboration, and enhanced authentication mechanisms such as biometric customer identification....

Insurance Association highlights insurers' services in rural areas

...technology application, strengthening risk reduction services, and deepening the use of insurance funds....

Australia: Suncorp to spend US$368m on "Digital Insurer" Policy Transformation programme

...technology estate....

Saudi Arabia: Insurance sector's net profit jumps by 15% to US$800m in first 3 quarters

...The insurance industry's profitability (after-zakat & tax) in the Kingdom of Saudi Arabia (KSA) stood at SAR3.0bn ($800m) in the first nine months of 2024, growing by 15% from SAR2.6bn in the corresponding period in 2023, according to a report by Badri Management Consultancy which provides consulting services in the actuarial, strategic and technology fields....

China: Regulator gives green light to Xiaomi Group to form new insurer with French insurer and Volkswagen

...Technology Co, and Volkswagen Financial Services Overseas AG....

Australia: McKinsey & Co outlines the productivity imperative for general insurance

...technology modernisation and tech simplification and rationalisation. ...

India: Health insurance premiums expected to grow to US$23.7bn by FY2028

...Technology has improved customer experience across the value chain through online purchase channels, AI/ML (Artificial Intelligence/Machine Learning) models for specialised underwriting, identifying...

New Zealand: Outlook for insurance premiums improves as cost pressures for insurers ease

...technology improvements, cyber resilience, compliance, financial performance, and risk management....

MAS chairman outlines how Singapore will help reinsurance industry navigate four main transitions

...technology and cyber risks. ...

Asia Insurance Industry Awards 2024 winners receive their laurels

Nigeria: New head of insurance body highlights 5 focus areas to promote industry development

...technology partners, we can reduce costs and improve service delivery, making insurance more accessible to all Nigerians”....

Hong Kong: Regulator works to enhance cyber security guideline for insurers

...technology adoption trends in the insurance sector, focusing on AI and related cyber security measures, said Mr Clement Cheung, IA CEO, in a presentation during HK FinTech Week 2024 held last week....

Online broking platform co eyes secondary listing in HK

...New York-listed Waterdrop, a leading technology platform company dedicated to insurance and healthcare services, is looking at a secondary listing in Hong Kong as it seeks to expand its insurance business in the financial hub, reported Bloomberg News....

Singapore: MAS establishes Global Finance & Technology Network to propel FinTech growth

...Technology Network (GFTN) To further build on industry collaboration and enhance connectivity for impactful innovation in fi...

Australia: ASIC warns governance gap could emerge in AI adoption

...technology....

India: M&As expected to prevail in next stage of insurance market growth

...technology-enabled platforms. For instance, this would include players focusing on penetrating the digital space by partnering with large e-commerce players through transaction-linked embedded produc...

Turkiye: Uncertainty surrounds 2025 reinsurance renewal capacity and pricing

...technology solutions. A more precise analysis of earthquake risks in Turkiye may lead to a re-evaluation of...

Indonesia: Igloo ventures into D2C market

...Igloo, a Southeast Asian InsurTech, is expanding into the direct-to-consumer market with its launch in Indonesia of www.igloo.co.id....

China: Govt unveils new policy measures to boost number of births

...technology services will be added to the list of services that qualify for medical insurance reimbursement, according to the document....

India: Online insurance platform companies in talks on merger

...Online insurance broking platform company InsuranceDekho is in advanced talks to merge with smaller peer RenewBuy in a cash-and-stock deal, according to two people familiar with the matter....

China: AIA receives approval to begin preparations to establish branches in 2 provinces

...technology, driving an increased demand for comprehensive insurance solutions....

Ghana: First batch of InsurTechs receive regulatory sandbox approval

...technology into the industry’s operations. He said promoting the deployment of technology and innovation is a key pillar in the current strategic plan of the NIC to help spur growth in the sect...