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.
Iowa-headquartered American Equity Investment Life Holding has formed a strategic partnership with Fintech Blue Solutions, a technology company that enables insurance distribution, and Agam Capital, a company that offers a global platform for insurance analytics, to launch a next-generation life insurance company in India.
Malaysia-headquartered Tune Protect Group, a digital insurer committed to making insurance accessible to everyone, has announced its expansion into the African market through its joint venture company, Tune Protect EMEIA (TP EMEIA).
Dhipaya Group Holdings has launched Insurverse, said to be Thailand's first digital-only insurance company to meet the needs of the younger generation's digital lifestyles.
The Saudi Central Bank (SAMA) has licensed two new insurance aggregators, taking the number of such authorised companies to five in total.