The UAE insurance sector continued to grow in 2022, with the number of licensed entities increasing by 5.53% to 553 in 2022 from 524 in 2021, according to the Central Bank of the UAE (CBUAE).
ZhongAn Insurance and ZhongAn Technology have released the first-ever white paper on artificial intelligence generated content (AIGC) technology and the integration of AI into the Chinese insurance sector.
PICC P&C, China's largest non-life insurer, and China Re P&C have signed an agreement to establish a product innovation laboratory. The move signifies that cooperation between the two parties has reached a new level and entered a new stage.
The IRDAI is working to implement, by 1 August, two high-tech projects - Health Claims Exchange and Bima Sugam - to deepen insurance penetration and simplify claims procedures.
The end of the COVID-19 pandemic has seen a boom in tourism that in turn drove growth of online travel insurance sales in the first quarter of this year in both the life and P&C insurance branches.
Global specialty (re)insurer Canopius has announced it is the first carrier on the Lloyd's Asia platform to underwrite its digital asset custody product from Singapore, and provide coverage regionally.
Singapore-headquartered international InsurTech, bolttech, has announced that it has raised $196m in connection with its Series B, with an up-round valuation of $1.6bn.
The CBIRC has approved a change in name for online insurer E An Property & Casualty Insurance to Shenzhen BYD P&C Insurance.
The National Insurance Commission (NAICOM) has released regulatory sandbox operating guidelines, that came into effect on 1 May 2023.
InsurTech Igloo is planning to expand its offering of weather index crop insurance products in Vietnam after a promising start with rice farmers in the country. The company is now expanding its blockchain-based parametric weather index insurance to coffee farmers and is looking to cover larger plots of land.