The insurance regulator, the IRDAI, yesterday announced that it has constituted a 15-member committee to review its information and cyber security guidelines.
China's four online-only insurers have shown vastly different results in 2020, according to information disclosed in their 4Q2020 solvency reports.
AppMan Company Ltd ("AppMan"), an insurtech SaSS platform in Thailand, has raised a new series A $4.6 Million US Dollars round from Private Equity Trust for SME Growing Together 1 with Siam Alpha Equity (SAE) as its Trust advisor, Krungsri Finnovate, Casmatt, KTBST as well as Poems Ventures, the venture arm of PhillipCapital group.
AIS Insurance Service, which is a part of the mobile and digital services company AIS, is working with MSIG, a global leader in insurance and financial services, with the support of the Office of Insurance Commission (OIC), to launch "Prakan Kubdee" (Good Driving Insurance), a full InsurTech vehicle insurance plan for the first time in Thailand.
InsurTech company Naked Insurance has said that new guidelines from the Competition Commission that aim to promote more competition in South Africa's automotive aftermarket, including insurance, repairs, and financing, will make pricing practices more transparency and give consumers more choice if they are widely supported by the automotive industry.
The Financial Services Commission (FSC) will draft a policy framework this month to allow local platform operators, including Naver and Kakao, to enter the insurance market to expand customer access to digitised financial products.
The IRDAI has announced setting up Digilocker, a 'digital locker app' for citizens to securely save copies of all their insurance policies via their mobile phones.
ZhongAn Online P&C Insurance, together with its subsidiaries, expect to achieve a net profit attributable to owners of the company for the year ended 31 December 2020 of no less than CNY500m ($78m).
The ability to harness "big data" and accelerate digitalisation and automation will be a key determinant of long-term winners and losers in the financial institutions sector, says Fitch Ratings.
Online insurer Anxin Property & Casualty Insurance, which is coping with solvency and liquidity issues, has posted a net loss of CNY535m ($82.7m) for the 2020 financial year, according to the company's quarterly solvency reports.