One of Kyobo Lifeplanet Life Insurance's most striking features is the absence of an agency force. The insurer, which is South Korea's first online-only life insurance company, has built its identity around this model.
More than four in five insurers (82%) in Singapore say they are ahead of their competitors in adopting digital systems, yet nearly all (98%) acknowledge that legacy technology is constraining business growth, according to research from Clearwater Analytics, a comprehensive investment management technology platform (CWAN).
Blend Insurance Solutions has appointed Ms Melanie Hoffmann as Head of Accident and Health (A&H). Her appointment comes as Blend undergoes a total overhaul of its workflow, moving toward an AI-native ecosystem designed to strip away the operational friction that slows down underwriting.
Morocco's Insurance and Social Welfare Authority (ACAPS) is launching a large-scale programme in partnership with the African Development Bank (AfDB), to transform the country's insurance sector through innovation.
The potential in financial insurance business is significant in Turkiye, according to Mr Ali Sertac Canal, Deputy General Manager of state-owned Turk Reasurans (Turk Re).
As small and medium enterprises (SMEs) rapidly adopt Artificial Intelligence (AI) and cloud-based infrastructures to scale, they are discovering that these growth engines also act as "risk multipliers", introducing new vulnerabilities into their core operations.
The majority of insurance companies in the Turkish market are "followers" in digital transformation, and the number of companies that have been able to implement digitalisation throughout the entire value chain is quite limited, according to the findings of a study.
The government is spearheading the development of a national insurance information system, the Chairman of the Insurance Regulatory Commission of Sri Lanka Dr Ajith Ravindra de Mel has said.
Four Chinese government ministries or agencies have set out 20 measures to accelerate the high-quality development of sci-tech insurance that plays an important role in risk dispersion and financial support for technological innovation.
The Pensions and Insurance Authority (PIA) has launched the Insurance Regulatory Sandbox for tech firms to test innovative products before they are rolled out in the market.