Tag Search Result

  • General Insurance Company of the Year - 21st Asia Insurance Industry Awards 2017: Apollo Munich Health - This Award inspires us to reach new milestones

    Awards are great! They are a mark of recognition given in honour of an achievement! Awards enhance a company’s brand reputation, instil confidence in customers about the quality and professionalism, and help employees take pride in their work. 

    Source : AIR | 01 Jan 2018
  • Product Bytes

    • APAC: BHSI launches new PI Insurance for FIs and new Contractors Plant & Equipment (CP&E) policy
    • Malaysia: Hong Leong Assurance’s policy serves the need of the 45-70 set
    • Singapore: Income aims to plug protection gap of “sandwiched” generation
    • Singapore:  AXA announces two new life insurance products

    Source : AIR | 01 Jan 2018
  • Malaysia: Motor insurance detariffication promotes innovation

    More innovative motor insurance products with lower prices are expected to be rolled out following the liberalisation of the motor tariff which came into effect on 1 July 1 2017, said the General Insurance Association of Malaysia (PIAM).

    Source : AIR | 01 Jan 2018
  • Belt and road initiative: Expansion has its challenges

    China is expanding into new territories while developing new products and services. We spoke to Mr Wise Xu of Willis Towers Watson, China to understand the changing nature of risk.

    Source : AIR | 01 Jan 2019
  • Malaysia: Financial adviser numbers surge

    The number of firms engaged in financial planning in Malaysia has increased by 45% since 2015, while the number of licensed financial planners has grown by around 23%, according to Ahmad Fairuz Zainol Abidin, Malaysia’s Securities Commission deputy chief executive.

    Source : AIR | 01 Oct 2017
  • Labuan IBFC as Asia's leading captive domicile

    A recent survey commissioned by the Labuan International Business and Financial Centre (Labuan IBFC) showed that the risk management and insurance community are confident that the mid-shore centre has the right ingredients for businesses to establish their captive insurance companies.

    Source : AIR | 01 Oct 2017
  • Online insurer courts pharmacy network in strategic partnership

    While tackling the protection gap must progress with today’s digital trends, U for Life General Manager Kenny Thing says insurers must not overlook conventional touchpoints as well.

    Source : AIR | 01 Oct 2017
  • First Malaysian InsurTech Collab Takes Off

    KATSANA is on a roll, recently inking MoU with several insurers including Allianz Malaysia, Axiata Business Services and both Etiqa Insurance and Etiqa Takaful, to collaborate on boosting the adoption of usage-based insurance (UBI) in Malaysia. Managing director and co-founder Syed Ahmad Fuqaha shares his plans with us.

    Source : AIR | 01 Oct 2017
  • Malaysia: Proposed employment insurance plan to help 57,000 for a start

    Around 57,000 people who lost their jobs are projected to be among the first to be eligible for benefits when the interim Employment Insurance System (EIS) is launched next year.

    Source : AIR | 01 Nov 2017
  • Bridging the gap for retirement

    Across Asia, the aged 60+ population is increasing at a tremendous pace – six to 10 times faster than population growth. In addition, life expectancy is increasing, with people in the region likely to live until 83 by 2050-55. The 13th Asia Conference on Pensions & Retirement Planning organised by Asia Insurance Review discussed the challenges for this rapidly ageing region.

    Source : AIR | 01 Nov 2017
  • Product Bytes

    Asia: Beazley launches financial lines products
    Asia: FinTech policy unveiled 
    Hong Kong: Ironshore introduces legal expense cover
    Hong Kong: AIG announces new cyber insurance products 
    Malaysia: New Allianz cover for diabetics
    Singapore: Bandboo introduces new P2P excess protection for drivers 

    Source : AIR | 01 Dec 2017
  • Takaful 2.0: Will we ever get there?

    The takaful industry needs to transform business to assimilate disruptive forces, appeal to millennials and move towards the next phase of “takaful 2.0” which it has yet to arrive at, said speakers at the Takaful Rendezvous 2017 organised by Asia Insurance Review.

    Source : AIR | 01 Dec 2017
  • Echo Re targeting more Asian business

    Dr Peter F Hugger is the man at the helm of Echo Re since February 2012. Having spent a considerable part of his 30-year professional life in Asia, with some of the top names in the reinsurance business, he is now ready to chart a new course for Echo Re in Asia, where the company already has a big presence and where he believes lies the opportunity for international players like his. He speaks to Asia Insurance Review on his new plans and strategy for the region, and the future ahead for his company.

    Source : AIR | 01 Dec 2017
  • Samsung Re: Expanding beyond group business

    Samsung Re has been keeping a low profile since its inception in 2011 but of late, the reinsurer has adopted a new strategy to expand its operations beyond its group business and into newer territories across Asia. We speak to Mr Tae Y Choi, CEO, Samsung Re at the SIRC, to find out the plans and strategies ahead for the company.

    Source : AIR | 01 Dec 2017
  • Malaysia: Insurance business models seen as "broken"

    Existing business models in the insurance market are essentially broken from the perspective of the population that remains underserved, said Bank Negara Malaysia (BNM) governor, Datuk Muhammad Ibrahim.

    Source : AIR | 01 Dec 2017
  • Malaysia: Structural factors to drive growth in takaful

    Malaysia’s takaful growth continues to outpace that of the conventional insurance sector, driven by stable domestic consumption and government efforts to reach out to the mass-market, says Fitch Ratings.

    Source : AIR | 01 Feb 2018
  • Asia: InsurTech investments surging strong

    InsurTech funding in 2017 rose 36% from the year before to reach US$2.3 billion, according to the latest data published by Willis Towers Watson.

    Source : AIR | 01 Mar 2018
  • Malaysia: Non-life market to see continued subdued growth

    The general insurance sector has continued to be resilient in 2017, posting a 0.1% decrease in GWP to MYR17.65 billion (US$4.5 billion) for 2017, helped by positive growth in the second half of the year.

    Source : AIR | 01 Mar 2018
  • Singapore: InsurTech newbie provides cover for Internet economy

    Singapore-based InsurTech company Axinan is creating products that are easily integrated into online marketplaces and platforms. It is focused on building innovative, high frequency/low premium services for the Internet economy.

    Source : AIR | 01 Mar 2018
  • Thailand: Muang Thai Life eyes expansion beyond Indochina

    Muang Thai Group, which is a holding company of Muang Thai Life Assurance, has set aside a budget of more than THB1 billion (US$31.6 million) a year from 2018-22 to expand its investments in new operations that relate to digital and insurance businesses, including startup ventures, said Mr Sara Lamsam, Muang Thai Life Assurance’s President and CEO. He is also a director of Muang Thai Group Holding. 

    Source : AIR | 01 Mar 2018
  • Look out for these what-if scenarios - WEF's 10 potential future shocks

    The growing complexity and interconnectedness of our global systems can lead to feedback loops, threshold effects and cascading disruptions. Sudden and dramatic breakdowns – future shocks – become more likely, according to the Global Risks Report 2018 published by the World Economic Forum.

    Source : AIR | 01 Mar 2018
  • Malaysia: Insurers pay more than US$1 bln in motor claims in 2017

    Total motor insurance claims paid out by insurers amounted to MYR5.38 billion (US$1.38 billion) last year. On a daily basis, this works out to MYR14.7 million per day in claims for property damage, bodily injury and vehicle theft by all the motor insurers, according to the General Insurance Association of Malaysia (PIAM).

    Source : AIR | 01 Apr 2018
  • Product Bytes

    Source : AIR | 01 Apr 2018
  • Malaysia: Growth prospects for insurance and takaful industry seen as positive

    The insurance and takaful industry in Malaysia is improving given the ample room for growth, supported by proactive measures to innovate the industry taken by Bank Negara Malaysia (BNM), says MIDF Amanah Investment Bank’s research arm, MIDF Research.

    Source : AIR | 01 May 2018
  • Malaysia: Labuan collects more captive insurance premiums

    Labuan’s total earned premium for captive insurance business increased by 18.8% to US$252 million in 2016, despite an overall decrease in total gross premium, according to the Labuan Financial Services Authority (Labuan FSA) Annual Report. The increase in total earned premium for captive business was due to higher retention for all sectors, the report suggested.

    Source : AIR | 01 Jun 2017
  • Malaysia: Online system allows bosses to buy worker insurance easily

    Employers in Malaysia can now purchase insurance for foreign workers via a new online integrated system.

    Source : AIR | 01 Jun 2018
  • APLIC: Prepare to manage disruptive forces

    Life insurers have to prepare themselves to manage disruptive forces that are bombarding their businesses today, said Mr Gan Leong Hin, management committee member of the Life Insurance Association of Malaysia (LIAM) in his keynote address at the 16th Asia Pacific Life Insurance Congress (APLIC) that was held in Kuala Lumpur, Malaysia, in May. 

    Source : AIR | 01 Jul 2017
  • Malaysia: MPI Generali Insurans expands in commercial segment

    MPI Generali Insurans has launched a new business line that will further expand its position in the corporate and commercial segment. 

    Source : AIR | 01 Jul 2017
  • Malaysia: Non-life sector gets a three-month tax holiday

    Malaysia will implement the sales and services tax (SST) with effect from 1 September to replace the goods and services tax (GST), announced Prime Minister Mahathir Mohamad.

    Source : AIR | 01 Jul 2018
  • Malaysia: More than 55% of firms lack business liability cover

    Less than half (45%) of Malaysian small and medium-sized enterprises and large companies currently have business liability cover although 64% of businesses are aware of it, according to a survey by Australia’s QBE Insurance Group.

    Source : AIR | 01 Aug 2017
  • Malaysia: Takaful sector to consolidate due to regulatory pressures

    Regulatory pressures will drive sector consolidation in Malaysia in the short term, said Fitch Ratings. 

    Source : AIR | 01 Aug 2017
  • Malaysia: Insurance institute graduates can pursue higher learning at Malaysia University of Science and Technology

    The Malaysian Insurance Institute (MII) is spearheading the development of talent in the insurance industry with the aim of building a competent and skilled workforce.

    Source : AIR | 01 Sep 2017
  • Malaysia: Insurance associations deny imposing fees on hospitals

    Insurance associations in Malaysia have denied that their members impose administrative charges on private hospitals, and instead called on hospitals to provide greater transparency and disclosure of healthcare fees and costs.

    Source : AIR | 01 Sep 2017
  • Interview with the Regulator: Reducing the protection gap

    Addressing the protection gap will continue to be a key focus area for Bank Negara Malaysia (BNM), says Mr Yoon Yew Khuen, Director of Insurance Development, in an exclusive interview with Asia Insurance Review where he stresses the need to bring to the market products and services that increase the affordability and accessibility of insurance. Engaging customers and enhancing their experiences are also key to boosting insurance.

    Source : AIR | 01 Sep 2017
  • New regulations shaping the life insurance landscape

    Several new life insurance regulatory guidelines which will have a significant impact to the life insurance industry were introduced in 2016 in Malaysia. Ms Farzana Ismail from Milliman, Malaysia gives an overview of these new regulations and their impact.

    Source : AIR | 01 Sep 2017
  • Hearty hopes for life

    Like the general insurance sector, Malaysia’s life market is undergoing change. However, while the general sector reported sluggish growth, local life insurers fared relatively well in 2016, with new business premiums rising by 6.9% to MYR9.75 billion (US$2.3 billion). LIAM President Toi See Jong and AIA Bhd CEO Anusha Thavarajah take stock of the industry and share their insights on its future direction.

    Source : AIR | 01 Sep 2017
  • General insurance: In for DyNAmic changes

    Malaysia’s general insurance sector reported sluggish growth for a second year running, stalled largely by economic headwinds. But insurers are unfazed as they set their sights on embracing market liberalisation and disruption, while noting the market needs to dig deep and transform from within. 

    Source : AIR | 01 Sep 2017
  • Regulations slowly but surely transforming the market

    Bank Negara Malaysia has put in place rules to engender market competitiveness and innovation, promote sound market conduct and encourage easier access to insurance products.

    Source : AIR | 01 Sep 2018
  • Malaysia: Government urged to act to encourage savings

    An economist has urged the government to enact policy measures to encourage Malaysians to save following the disclosure that the bulk of some 22m employees have no formal social protection. Sunway University Business School Yeah Kim Leng told Free Malaysia Today that it was alarming that so many Malaysians were in this situation.

    Source : AIR | 01 Sep 2018
  • Product Bites

    • Australia: Chubb announces flight delay insurance
    • Japan: Swiss Re Corporate Solutions launches tsunami-derivative solution
    • Malaysia: New protection solution introduced for migrant workers
    • Singapore: Great Eastern partnership to offer industry-first insurance to freelance caregivers
    • Global: Now Health International’s innovative mobile pass enhances customer experience

    Source : AIR | 01 Sep 2018
  • Takaful: The race continues

    While recent trends reflect optimism about Malaysia’s takaful growth and improvement of market share compared to conventional insurance, “takaful is still far below its full potential, and is nowhere near where it should be.” 

    Source : AIR | 01 Sep 2018