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 growing divisions over international oversight of the technology. It behooves the insurance industry to be ready for any challenge arising from this situation.
According to local media, as of February 5, ten Chinese property insurance companies, including Asia-Pacific P&C Insurance, Qianhai Property Insurance, Hua'an Insurance, Bohai Property Insurance, Anhua Agricultural Insurance, and Dubon Insurance, have suspended new online insurance business.
Since 2023, Chinese InsurTech companies have actively sought listings on US and Hong Kong stock exchanges. While some, like Cheche Technology and U-Bx Technology, have successfully gone public, many others have faced delays or suspensions in their IPO processes.
AI and AI regulation will continue play an important role in the Middle East's insurance sector, according to Norton Rose Fulbright's report, titled 'Insurance Foresight 2025'.
General Retirement & Social Insurance Authority and Qatar Credit Bureau have signed a membership agreement to facilitate the exchange of credit data and information between the two entities.
Dubai-headquartered Sukoon Insurance has launched a new AI-powered face-scanning feature for life insurance underwriting while onboarding new life insurance customers.
Climate risks, disruptive technology and geopolitical instability are the top emerging risks according to an annual survey of risk managers. The new survey has been jointly published by the Casualty Actuarial Society and the Society of Actuaries.
With the TikTok ban driving massive traffic to Rednote (formerly Xiaohongshu), insurance companies and banks are eagerly joining the platform, publishing bilingual content to introduce their services.
The UAE's federal export credit company, Etihad Credit Insurance (ECI), has become the first insurer in the country to join the KYC blockchain platform. The initiative improves KYC compliance, customer data quality, and supports future growth of the network and is led by the Dubai Department of Economy and Tourism (DET).