China's central bank is proposing to set up a fund to cover defaults in the country's fast-growing third-party payments industry and protect the money customers deposit with platforms including Ant Group which operates Alipay, and Tencent Holdings which runs WeChat Pay.
Grab Financial Group (GFG), Southeast Asia's fintech platform, has announced the launch of Hospital Cash Cover (inpatient protection), the first inpatient protection product for users, in collaboration with PT Asuransi Simas Jiwa in Indonesia.
Growing InsurTech group bolttech has announced its expansion into South Korea through the launch of its partnership with LG U+, one of South Korea's largest telecommunications carriers.
Insurance penetration could rise to 3.69% in the next 10 years from the present 0.06% if the technological infrastructure and data necessary for its growth are made available, say industry analysts who appeal to government and regulators to play their roles well.
Ping An Digital Economic Research Centre (PADERC), a macroeconomic research arm of Ping An Insurance (Group) Company of China, says the increase in the number of companies in China improving their environmental, social and governance (ESG) disclosures is an opportunity for technology companies to provide data solutions with artificial intelligence (AI).
Tune Protect Group has announced the appointment of Rohit Chandrasekharan Nambiar as its group GCE. He takes over the helm from Khoo Ai Lin who resigned on 31 July 2020.
New technologies represented by big data, cloud computing, blockchain, and AI applications are quietly changing the mode of operations in the insurance industry, reshaping the industry's ecology, and driving business changes.
Revolut, the global financial super app that manages all things money, and SNACK by Income, has announced their partnership to incorporate lifestyle-based insurance offerings on Revolut's app to provide more flexibility and boost customer empowerment in money management.
Tune Protect Group has appointed Rohit Chandrasekharan Nambiar (Rohit) as its Group CEO (GCEO) effective 14 October 2020. Rohit takes over the helm from Khoo Ai Lin who resigned on 31 July 2020.
One of Australia's largest insurers, QBE, has formed a joint venture, Mitti, to provide tailored digital solutions for small to medium businesses (SMEs) to better manage current and emerging risks.