A dedicated InsurTech association for Asia will be launched soon as a milestone development in the regional insurance market to accelerate the digital transformation of the industry.

InsurTech Asia Association will be officially launched on 20 July in Singapore. The new body's founding President is Mr George Kesselman.

The need for an InsurTech body in the region is keenly felt given the huge attention given to FinTech and the insurance industry’s dependence on technology.

Asia Insurance Review, as the voice of the insurance industry of Asia, will be the official media partner of the new body.

The Association is an independent membership-based industry initiative that aims to advance insurance in Asia through the impactful application of InsurTech. It will help remove or lower innovation hurdles and increase collaboration between InsurTech startups and insurers.

InsurTech has quickly taken up the limelight as the most vibrant area of the insurance industry, bringing together innovative insurers, startups and stakeholders. Asia will be the key pillar in the upcoming revolution of insurance. Growth will be driven by the continent's massive population and rapidly emerging tech-savvy middle class.