Aon launches g?lobal reinsurer trading platform to enhance placements with real-time data
Aon Benfield has launched its global reinsurer trading platform ABConnect Placements.
In time for the 1 July renewals, the goal is to better serve clients with real-time data and metrics through enhanced collaboration between its reinsurers and brokers.
Reinsurance underwriters can benefit from having one portal to access placements, track progress and manage opportunities across Aon Benfield. In practice, this means underwriters can manage key milestones in the placement, including securely downloading underwriting submission packages, other key documents and data files; entering quotes with terms and conditions updated in real time; viewing firm order terms and entering authorised lines.
Reinsurers participating in 1 July renewals will receive initial registration credentials when the first Aon Benfield broker submits a programme via ABConnect Placements. Once registered, the portal will populate with the underwriter’s Aon Benfield placements as brokers begin publishing additional business on the platform.
Asia: LumenLab’s new quiz app to reward health literacy
LumenLab, the innovation centre for MetLife, has just released BerryQ, a new quiz app that helps users shed light on common health myths, provide practical wellness tips, and rewards them for their health literacy.
Targeted at Asian consumers, BerryQ quizzes cover a variety of health, fitness and wellness questions split into a variety of categories, including nutrition, stress, and Traditional Chinese Medicine (TCM).
The app provides a personalised overview of the user’s health awareness via a health literacy score, which lets users evaluate their knowledge on everyday health related topics, and be rewarded for learning even more.
BerryQ is part of LumenLab’s portfolio of digital solutions which target health topics such as chronic disease management and behavioural change, in addition to providing ways to address challenges around ageing and wealth.
Allianz Malaysia launches Allianz PrimeSaver
Allianz Life Insurance Malaysia Berhad (Allianz Life) has launched Allianz PrimeSaver; a universal life savings plan that aims to attract younger Malaysians to start saving. The policy can help them to start building up a nest egg as it provides a wide range of premium payment and coverage term choices to suit different savings needs.
The policy costs a minimum of MYR200 (US$51) per month and provides the flexibility of choosing a preferred premium payment term of between six and 20 years and a coverage term of between 20 and 30 years. The plan also comes with guaranteed cash payment, where customers will receive payment the end of the first year. The flexibility of the plan means that the fund can either be withdrawn or reinvested with Allianz.
Additionally, the policy has a guaranteed maturity value component that can help instil long-term saving discipline as the maturity benefit is paid based either on the 100% account value or the guaranteed maturity value, whichever is higher, at the time of policy maturity.
AXA Singapore enters integrated shield plan market
AXA Life Insurance Singapore has been approved by the Singapore Ministry of Health as the sixth and newest Integrated Shield Plan provider. AXA launched AXA Shield in May, a Medisave-approved Integrated Shield Plan, offering 365 days of post-hospitalisation coverage, the longest on the market.
The Integrated Shield Plan is offered in three plans, AXA Shield Plan A, AXA Shield Plan B and the Standard Plan. Plan A currently provides the highest private hospital coverage in Singapore, with an annual limit of S$1 million (US$737,000), with Plan B offering $550,000 for single-bedded wards in public hospitals.
AIA Singapore redefines savings and investing with latest plan
AIA Singapore has launched their AIA Wealth Pro Advantage, the market’s first innovative 2-in-1 Savest plan, which allows customers a new way to manage their wealth by saving and investing at the same time. This fresh concept, trademarked by AIA Singapore, adopts a balanced financial planning approach by offering long-term savings and the growth potential of investments at the same time.
Customers are also given the flexibility to construct their own portfolio from AIA Singapore’s professionally managed suite of ILP funds as well as the flexibility to manage their portfolio with fund switching and fund rebalancing features that are offered at no additional charge.
Prudential Singapore launches new insurance plans for PA and savings
Prudential Assurance Company Singapore (Pte) Limited has launched two new insurance plans – a personal accident plan which offers up to three times payout for accidents occurring under certain circumstances, and an endowment plan which helps customers fund their 10-year savings goal.
PRUpersonal accident covers accidents, food poisoning, animal and insect bites including dengue fever and Zika virus while PRUsave max 10 is a 10-year endowment plan with a premium payment term of five years designed to provide a lump-sum payout at maturity.
No medical underwriting is required for either plan.