The Saudi insurance market is pursuing regulatory and accounting change, product innovation, enhanced distribution channels and efficiencies in the conduct of business, notes the international professional services firm KPMG in the inaugural edition of its publication Insurance Pulse.
New life insurance regulations that will come into force on 16 October 2020 are expected to thin the ranks of financial advisers.
Consumers in the Asia-Pacific region are far more likely to have life insurance coverage, when compared to the US. According to a recent LIMRA study, three quarters of surveyed consumers in Hong Kong, India, Singapore, Taiwan and seven in 10 consumers in China and Thailand say they own life insurance. However, the proportion of people who own life insurance falls below the percentage who believe they need life insurance.
Mr Willison Yu, 2020 National President, Life Underwriters Association of the Philippines (LUAP), speaks with Asia Advisers Network on the highlights of the upcoming Life Insurance Congress of the Philippines and MDRT Day and what participants can look forward to.
The IRDAI has modified guidelines on proportionate deductions under health insurance policies that will take effect from October. The goal is to reduce out-of-pocket expenses for policyholders.
Kyobo Life Insurance will be able to start selling insurance products in Myanmar by the end of next year after receiving business approval from the Myanmar government.
Tencent's insurance platform WeSure has signed a strategic cooperation agreement with Sinopharm Group and MedTree Health Technology, aiming to offer protection solutions by integrating private insurance and the health industry.
Medical insurance premiums in the country have surged at an unsustainable rate in recent years, a trend which could render medical insurance plans unaffordable to many people, including those from the middle-income group, says Mark O'Dell, CEO of the Life Insurance Association of Malaysia (LIAM).
Abu Dhabi National Insurance Company (ADNIC) has been awarded the DIFC Master Health Insurance Scheme in partnership with the Dubai International Financial Centre Authority, effective 1 October, EC3 Brokers MEA announced in a statement.
The Dubai Health Authority has announced that it is to begin the use of diagnosis-related groups (DRG) in all hospitals in the emirate.