Singlife has appointed Samantha Ghiotti as its Deputy Chief Executive Officer (CEO), effective immediately. The appointment comes as Founder and CEO, Walter de Oude strengthens Singlife's leadership team and prepares for expansion across key markets in Southeast Asia.
The Shanghai Insurance Exchange (SHI) has released a white paper focussing on developing standards for 11 insurance blockchain applications, including reinsurance, healthcare, risk control, asset management, and cross-border trade insurance.
WeSure, the insurance platform of Chinese Internet giant which operates the popular social media app WeChat, has announced that it has a user base of more than 55m, and has insured over 25m users in the two years since its founding in November 2017. The average premium per person exceeds CNY1,000 ($144) and the renewal rate is 40%.
Firms in the insurance sector are increasingly adopting digital ecosystems to scale up rapidly. We spoke to ebaoTech, a global digital insurance solution provider, on their partnerships and the pathway to digital ecosystems at the Singapore FinTech Festival held in November 2019.
The specialty insurance market has a long-standing data problem which is costing specialty market carriers millions.
Online-only insurer, Taikang Online Property Insurance, or TK.cn, has received regulatory approval for a capital increase that would double its registered capital from CNY2bn ($287m) to CNY4bn.
The insurance regulator, the Office of Insurance Commission (OIC), is optimistic about prospects for the insurance industry in 2020, saying health insurance, government-related insurance products and crop insurance will be growth drivers.
Grab Holdings Inc and Singtel are forming a consortium to apply for a digital full bank licence in Singapore. Grab will have a 60 percent stake in the consortium entity while Singtel will hold a 40 percent stake.
The CBIRC has issued new draft regulations for online insurance for public consultation. The new rules would be applicable to insurance companies and intermediaries.
In 2018, the health protection gap in Asia was estimated to have reached $1.8tn. Cigna International Markets Asia Pacific CEO Patrick Graham believes that to bridge that protection gap, it is first crucial to view the world through the eyes of the customer.