South Korean life insurance companies have started a trend in the sector with the launch of mini-plans that charge with affordable premiums and are simple insurance policies to target young customers, according to the the Korea Life Insurance Association.
An Actuaries Institute Taskforce has made sweeping recommendations for broad changes to Australia's retail disability income insurance market to reset sustainability for a sector under threat.
360F, top three InsurTech of the Year at the 5th Asia Trusted Life Agents & Advisers Awards, has entered the Middle East with a pipeline of projects and an anchor client, Zurich Insurance.
The IRDAI has named three public sector insurance companies - Life Insurance Corporation (LIC), General Insurance Corporation (GIC Re) and New India Assurance - as 'too big or too important to fail' (TBTF) institutions or Domestic Systemically Important Insurers (D-SIIs) for the year 2020-21 fiscal year.
The Comprehensive Governmental Health Insurance Authority has formed a committee to study the proposals of the Insurance Federation of Egypt (IFE) regarding the participation of the private medical insurance industry in the country's universal health insurance system.
The attitude towards life and health insurance has changed due to COVID-19. People are being more risk-averse about their own health and showing more concern over protection, according to the seventh edition of ReMark's annual Global Consumer Study (GCS).
Forty-one percent of American adults feel that the COVID-19 pandemic has changed how their family handles finances and nearly one in four (22%) will consider increasing their life insurance coverage this year, according to a recent survey by disability income provider group Unum.
South African life insurers provided more than 458,000 policyholders with premium relief assistance to the value of over ZAR1bn ($58.4m) between March and July this year, in an effort to help policyholders whose earnings were impacted by the COVID-19 lockdown preserve their risk cover and savings policies, said the Association for Savings and Investment South Africa (ASISA).
Kazakhstan's Social Health Insurance Fund is set to provide a further KZT159bn ($373m) to support the country's battle against COVID-19, said the fund's chairman Bolat Tokezhanov during a press conference.
Indian insurer HDFC Life has launched a video-based insurance buying enabler that connects the customer with the advisor using a video and voice interface, to overcome the restrictions that COVID-19 has placed on face-to-face interactions.