Regulations lead the way
Source: Asia Insurance Review | Mar 2018
The Insurance Authority has been active for the past eight months with a slew of moves to get industry digital as well as ready for RBC.
Aside from the IA’S pilot initiatives of an InsurTech Sandbox and Fast Track for the industry, consumer protection has also recently been upped with the expanded scope of jurisdiction of the new Insurance Complaints Bureau.
The insurance business is growing from strength to strength with the lure of China in life and the promise of the Belt and Road Initiative.