Bank Negara Malaysia (BNM) aims to license new digital insurance and takaful players in 2023 that can leverage technologies to deliver value propositions on three fronts.
2022 will be a year of accelerated digital transformation of the insurance sector for the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR).
Finance Minister Zafrul Abdul Aziz has said that he looked forward to the upcoming entry of digital banks, digital insurers and takaful operators into the Malaysian financial sector.
The Financial Sector Blueprint 2022-2026 released yesterday by the Malaysian government outlines several areas in which the insurance and takaful sector would play a role in meeting the objectives of the strategic plan.
"Co-opetition" (i.e., competing and collaborating at the same time) will become a mainstay of insurers' strategies as they build ecosystems and deal with convergence with other sectors, says global professional services firm EY.
Chinese regulators urged insurers and banks to make clear progress in their digital transformation by 2025, reported Reuters.
Reshaping financial services, including insurance, with intelligence is one key task set out in China's FinTech Development Plan for 2022-2025 released earlier this month by the central bank, the People's Bank of China (PBOC).
Chinese Internet giant Tencent has led a group of early-stage investors in a seed funding round for Sydney-based InsurTech firm Reask for the latter to deliver next-generation global Nat Cat modelling programs.
Shanghai Leapstack Technology, an InsurTech company, announced that it had raised a Series C round of CNY150m ($23.6m).
Dubai-based digital insurer Beema Insurance, a part of the Emirates National Oil Company Group (ENOC), has launched at the start of the year a behaviour-related plan motor insurance, "Beema SmartDriver", which rewards users for safe driving.