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Source: Asia Insurance Review | Nov 2017

Asia

APAC: Chubb launches innovative travel app for business travellers
Chubb has launched a travel application for the first time in Asia Pacific to help employers adequately prepare and support employees on business travel. The Chubb Travel Smart application is integrated with emergency assistance 24/7, with the touch of a button. 
 
   “Chubb Travel Smart has been developed to help employers better fulfil their duty of care obligations. With the added component of an online dashboard, risk, HR and security managers can locate and send messages and alerts to business travellers anywhere in the world,” said Mr Glen Browne, Executive Vice President, Accident & Health, Asia Pacific for Chubb in Asia Pacific. 
 
   The insurer chose China as the app’s launch pad for APAC, with launch events held in Beijing, Shanghai and Guangzhou. Mr Kevin Bogardus, General Manager, Chubb Insurance Company said that the app will satisfy the growing market need to safeguard the increasing number of employees on business travel as Chinese companies venture abroad.
 
   Following the launch in China, Chubb Travel Smart will be launched in other Asia Pacific countries in due course, said the insurer.

Australia: Chubb introduces new Business Pack Insurance for SMEs
Chubb has launched a new package insurance solution for SMEs in Australia. The Chubb Business Pack Insurance for SMEs, which is available only through brokers, aims to provide broad coverage for property and liability exposures to help protect business owners from a range of operating risks. Hence, it includes standard coverage for business interruption, general property damage, public and products liability, machinery and equipment breakdown, theft, money and tax audits. 
 
   In addition to the standard coverage, the policy also includes protection against cyber and environmental liability. Cover is available for cyber liabilities such as network security, privacy and data asset loss while the environmental protection component of the policy covers sudden, accidental and gradual pollution originating at the insured location.
 
   Specifically tailored for Australian businesses with turnover of up to A$10 million (US$7.76 million), Chubb Business Pack Insurance currently serves occupations across Office & Professional Services, Healthcare & Medical Surgeries, Retail and Trades & Services. These industry segments account for up to 35% of the SME market in Australia. There are plans to extend the solution to other industries in future.

Malaysia: Allianz 3H Cover tackles the “3 Highs”
Allianz Life Insurance Malaysia Berhad has introduced a new product to those currently experiencing the “3 Highs” of high cholesterol, high blood pressure or a high Body Mass Index (BMI), and are looking for a way to enhance their quality of life. 
 
   With Allianz 3H Cover and its rider 3H Critical Cover, those with the “3 Highs” could take up a protection plan up to age 85, against four key critical illness conditions (heart attack, stroke, cancer and kidney failure), death as well as total and permanent disability (TPD) before age 65. Previously, those with these pre-existing conditions risked being turned down outright by insurers. 
 
   In including high BMI as one of the “3 Highs”, Allianz 3H Cover goes beyond just supporting good health to encouraging overall improved health and wellbeing. As an added incentive, it also offers a Complimentary Added Coverage, where customers will receive a 50% increase in their death and TPD coverage and the ability to upgrade their critical illness plan to the full, comprehensive 36 critical illness plan if their “3 Highs” are back to normal.

Singapore Life launches suite of life insurance products
Singapore Life, the newest fully licensed direct life insurer in the country, has launched a suite of life insurance products. Its Term Life and Critical Illness plans aim to fill the gap in catering to customers who are looking for adequate protection with minimal complexity. 
 
   This introduction of plain-vanilla term insurance is a deliberate departure from the many new products in the market compounded with various interesting, but equally complicated features, said the insurer in a statement. Customers can get these policies online directly themselves, or through one of Singapore Life’s partner advisory firms.
 
   Singapore Life features robust digital robo-underwriting and identity verification capabilities that dynamically expedites the application and approval process. The purchase journey is usually free of the hassle of going for a medical test. As a launch promotion, all submissions of Term Life policy applications, including critical illness and disability riders, on www.singlife.com by 31 December 2017 will enjoy up to 18% discount. A 
 
 
 
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