Hong Kong-listed ZhongAn Online P&C Insurance, China's first online-only insurer, marked the 10th anniversary of its establishment with a turnaround in its financial performance, chalking up its highest net profit to date in the 2023 financial year.
Leading insurance companies in China such as PICC, Ping An, and China Pacific (CPIC), and others, have set up their own independent technology units to conduct special research on insurance for new-energy vehicles (NEVs), according to Mr Zhang Lei, founder and co-CEO of Nasdaq-listed Cheche Group.
Bahrain Kuwait Insurance Company (BKIC), which is part of the regional insurance group Gulf Insurance Group, has launched distance-based motor insurance, which it offers exclusively online.
KoverNow has appointed Mr John Trotter as chief sales officer and managing director. In his new role, he will be responsible for expanding KoverNow's customer base beyond Singapore and launching its digital insurance app in Hong Kong.
Prudential Singapore has announced that it is the first insurer in the city state to enable policymakers to effect online nominations of beneficiaries (online NOB) using "Sign with Singpass", which makes it easy and more convenient for policyholders to nominate their beneficiaries.
In early 2023, the prime minister of Vietnam's Decision 07/QD-TTg was issued, approving the strategy to develop the insurance market in the country until 2030. The application of technology in the insurance industry was covered in the document, with the prime minister requesting the formation of a regulatory sandbox in order to encourage companies to develop new digital products and services.
GIG Gulf, one of the largest insurance providers in the MENA region, has received approval from the Capital Markets Authority (CMA) in Oman to provide digitally integrated insurance services for customers online.
Australian managing general agent (MGA) Agile Underwriting Services has received 'in-principle' approval from Lloyd's to create Agile Syndicate 2427 (AUS 2427).
The Company for Cooperative Insurance (Tawuniya), a Top Three insurer in Saudi Arabia, has formed a strategic partnership with Ejaro, a car rental platform company.
The Securities and Exchange Commission of Pakistan (SECP) has been holding separate meetings with life and non-life insurance companies to seek their input on the digitalisation of the insurance sector in Pakistan.