Japanese general insurance giant Tokio Marine & Nichido Fire Insurance has enhanced its motor insurance service by facilitating the purchase of insurance policies through speakers equipped with artificial intelligence (AI).
The gross written premiums of 50 licensed insurance companies in Lebanon reached $1.61bn in 2019, constituting a decrease of 4% from $1.68bn in 2018, according to data released by the Insurance Control Commission.
The number of traffic accidents in Saudi Arabia has decreased since the government imposed a curfew aimed at slowing the spread of COVID-19, according to statistics compiled by motor insurance service company, Najm for Insurance Services.
Insurance companies in Algeria recorded huge losses during the first quarter of 2020, with premium income falling by DZD6bn ($47.4m), a decrease of 10% compared to the first three months of 2019.
Bank Negara Malaysia (BNM) has raised the issue of the need to improve the motor claims process, and has suggested ways to amerliorate the process.
Samsung, Hyundai, Meritz and several other general insurers are taking advantage of new safety regulations in school zones to offset their deteriorating profits caused by low interest rates and the coronavirus pandemic.
Motor insurance, which is a dominant business line in the Japanese general insurance market, is tipped to stagnate over the next four years due to premium rate cuts, a weak business environment and the COVID-19 pandemic, says GlobalData, a data and analytics company.
A study conducted by the Automobile Association of South Africa has revealed that between 65% and 70% of the estimated 12m vehicles on South African roads are uninsured, and this percentage is growing annually.
The motor third party liability insurance premium in India for the financial year 2019-20 will remain the same beyond 31 March 2020 until further notice.
The CBIRC is tightening its rules for the motor insurance market by issuing a directive for key personnel of motor insurance companies to avoid conflict of interests where their relatives operate or work in entities that have business dealings with the insurers.