Vietnam, Indonesia, Thailand, and the Philippines face unique emerging risks, resulting in distinct nuances within their insurance sectors, says the Singapore-headquartered regional InsurTech company, Igloo.
The Insurance Authority (IA) has rolled out the Open Application Programming Interface (API) Framework (the Framework) and the Central Register for the insurance sector, providing guidance and necessary facilitation to market participants as they implement Open API.
Indian InsurTech startup Roadzen has listed its shares on the Nasdaq Global Market, with trading of its shares and warrants started on 22 September.
Oman's Capital Market Authority has issued a decision to adopt regulations covering online insurance operations. The new rules present a regulatory and legislative framework for digital insurance services in the Sultanate.
Kuwait's Insurance Regulatory Unit (IRU) has decided on rules for regulating the activity of central insurance repositories.
Increasingly, insurers are competing for customer attention not against other insurers, but against super apps and apps from tech giants, retailers and the entertainment industry, says Capco, a global technology and management consultancy focused on the financial services industry.
Singapore-headquartered international InsurTech, bolttech, has added leading-impact investment firm LeapFrog Investments as a strategic investor in an extension of its Series B round. LeapFrog's $50m investment adds to bolttech's recent Series B funding round, now totalling $246m, the largest ever Series B round for an InsurTech.
A majority (56%) of financial executives involved in insurance decision-making globally expect to generate more than 10% of their revenue from embedded insurance within three years according to a new survey by Chubb Insurance.
The IRDAI has reportedly set up a steering panel to act as the apex decision-making body for the development of its ambitious platform, Bima Sugam. The launch of the platform has now been rescheduled for June 2024.
The 12 new teams that are joining the 11th cohort of the Lloyd's Lab will work on the new theme Asia-Pacific Climate Risk, Cyber and Sustainability. In addition, Data & Models and New Products will be the other two themes carried forward, with each InsurTech being aligned with one of the three themes.