With digital adoption becoming mainstream, customers can now do their own research on policy options via digital channels. The trust equation between insurers and customers has therefore shifted as agents/brokers are no longer the primary or exclusive source of information when it comes to purchasing insurance.
FinTech company GoBear has raised fresh funds of $17m from Dutch venture capital firm Walvis Participaties, as well as Aegon, a provider of life insurance, pensions and asset management.
The CBIRC has drawn up a plan to promote the development of online property and casualty insurance business over the next two years, Shanghai Securities News has reported.
Edelweiss General Insurance (EGI), India's first cloud native insurer, has launched an innovative, app-based motor OD floater policy, called "Edelweiss SWITCH".
Hana Financial Group, South Korea's third largest banking group, will launch a digital insurance unit next month through its newly acquired subsidiary, The-K NON-Life Insurance.
Sony Corp announced yesterday that it would buy out its unit Sony Financial Holdings, of which it owns about 65%. The financial holding company has a bank as well as life and casualty insurers under its umbrella.
ZA Insure, a digital-only insurance platform, yesterday launched its flagship products ZA Life Protection, ZA Cancer Protection and ZA Heart Attack & Stroke Protection so as to offer Hong Kong citizens personalised coverage, which "everyone can afford".
Very few insurers (8%) in the CIMA (Conference of Inter-African Insurance Markets) area have mobile applications available to customers, according to a survey on digitalisation among 52 insurance companies in the zone.
Ping An has been ranked the world's most valuable insurance brand in the Insurance 100 2020 report by brand valuation consultancy Brand Finance. Ping An is also the 9th most valuable brand in the world, according to the Brand Finance Global 500 2020 report released earlier this year.
4G Capital Group, which promotes technology-driven financial inclusion, has partnered with InsurTech and microinsurance startup Turaco to introduce micro health insurance solutions to clients across Kenya.