Singapore
Aviva SIngapore's life and health VNB surged 47% in H1
Growth was driven by the insurer’s financial advisory channel.
Aviva SIngapore's life and health VNB surged 47% in H1
Growth was driven by the insurer’s financial advisory channel.
Here are the winners of the Insurance Asia Awards 2018
Over 250 trophies were awarded to winning banks and insurers.
Digital insurance revolution
How long did it take to sell 240,000 insurance policies online in 2017? Most insurance leaders across Asia guess “at least a few weeks.” The reality is that, in the age of digital, it only took a second. The record was set on Alibaba Tmall.com website on 11 November 2017 by Zhong An, Chinese digital-first insurer and the most successful global insurtech so far. The pace of Zhong An growth has given the much-needed wake-up call for the insurance industry.
How robotics and cognitive automation will transform the insurance industry
The use of robots to drive tangible business benefits is very much a reality today. According to Transparency Market Research, the global IT-enabled robotic process automation (RPA) market is expected to reach $5 billion by 2020. RPA is just the beginning; cognitive capabilities that enable machines to perform tasks reserved for human intelligence are now being leveraged with robotics. Robotics and cognitive automation (R&CA) is expected to foster greater collaboration between humans and machine by both automating repetitive tasks and enhancing the quality of jobs.
Breathing life into life insurance
Life insurance companies are under pressure. Their traditional business model is stagnating. Since 2014, premiums for U.S. life insurers have fallen at an average annual rate of 4%, the industry’s return on equity has been flat, and persistently low interest rates continue to depress returns.
Global CEO survey: What we're seeing in the insurance sector
One of the key findings of PwC’s 21st Global CEO Survey is that whilst insurance continues to be one of the most disrupted sectors in the global economy and insurance CEOs are extremely concerned about the pace of technology change and cyber threats, surprisingly, they are also optimistic about their organisation’s revenue growth in the next three years.
Asia at risk with cyber insurance scarcity
The region's cyber insurance take-up rate is negligible at only less than 6%.
Here are the 5 key technologies in Asian insurers' digitalisation push
They lead in investment, in-memory analytics, and cloudbased analytics solutions.
Asia still lags in insurtech amidst 169% growth in deal values
Deals in Asia-Pacific account for only 7% of the the global share.
Are you an ecosystem insurer?
Analysts say that the rewards for working in a digital ecosystem are worth the effort.
Etiqa Insurance Singapore rolls out home protection plan
In the event of a fire, policyholders can receive $3,668 cash allowance within the day.
Etiqa Insurance streamlines motor insurance claims process
The insurer claims to have slashed the approval time from as much as 2 days to 30 minutes.
Prudential Singapore rolls out insurance product for critical illness
‘PRUtriple protect’ offers a payout as high as $6.74m.
ERGO Insurance and PolicyPal unveils plan to roll out blockchain travel insurance
Customers can enjoy automated claim payouts without the hassle of filing for a claim.
Singapore government unveils revamped insurance scheme for seniors with disability
CareShieldLife will be rolled out by 2020.
Prudential Singapore to pay $100 to customers hit by GIRO deduction
Customers can expect it to be credited to their accounts by 3 June.
AIA Singapore unveils enhanced retirement policy
It features increased monthly dividends and lowered premiums.
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Insurers need cultural overhaul in digital push
![Insurers need cultural overhaul in digital push]()
Digitalisation seeks to simplify processes, not complicate things.
Digitalisation seeks to simplify processes, not complicate things.
