AI is projected to contribute up to $1.1tn in annual value to the global insurance sector, with its positioning as a key driver of productivity and growth, according to Truong Hoang Phuc, FPT Software managing director of Global Insurance & Finance, FPT Corporation.
Ping An Good Doctor has released its 2024 annual results, marking its first full-year profit. The company reported total revenue of CNY4.81bn ($664.98 m), with an adjusted net profit of CNY158m. Revenue from its comprehensive financial client (F-end) and corporate client (B-end) businesses grew 17.2% year-on-year.
Prudential has launched its first fully owned facility in the Indian city Bengaluru. This represents a strategic investment in the Indian market.
Bank Negara Malaysia (BNM) has received encouraging interest from various parties in submitting applications for Digital Insurers and Takaful Operators (DITO) licence(s), just three months into the start of the two-year application window that began on 2 January 2025. Planned consultation sessions with interested applicants are currently underway.
The Federation of Egyptian Insurance Companies has sounded the need for insurers to cooperate with real estate developers and technology providers to create insurance products for smart homes.
Ping An Insurance (Group) Company of China has entered a flood maps licensing agreement with UK-based flood scientists JBA Risk Management to support its underwriting and risk management capabilities. The move by the technology-powered financial services group reflects the increasing importance of flood risk assessment in China, amid a rise in both the frequency and severity of flood events.
The chairman of iFlytek, a leading Chinese voice recognition technology company, Liu Qingfeng, has called for the establishment of AI unemployment insurance to support an AI-friendly labor market and ensure social stability amid rapid technological advancements.
Ping An Insurance recently launched its 2025 Spring Campus Recruitment offering over 2,000 positions, highlighted by Ping An's self-developed 'Ping An Talent' recruitment system. This platform integrates AI-driven job matching, AI interviews, and AI salary negotiation to provide campus recruits with a fair, convenient, and efficient recruitment experience.
More than seven in 10 (72%) of insurance executives in the Asia Pacific who participated in a new survey on how they perceive their industry in a time of growing risk and opportunity are of the opinion that the insurance industry has "an ethical obligation" to close the protection gap which is currently estimated to be $1.8tn.
New research commissioned by IBM found that Singapore companies view AI as a promising opportunity, with increasing interest in investing to boost ROI and drive innovation.