The Financial Planning Standards Board (FPSB) India is planning to increase the representation of women in the financial planning field to achieve a 35:65 ratio of women-to-men certified financial planners (CFPs) by 2030.
Japan's Nippon Life Insurance has established a new subsidiary in India to bolster its operations in the market, the company said recently. Nippon Life Asia Pacific, a unit based in Singapore, formed Nippon Life India as its direct subsidiary. The new unit will provide management support and market research for Nippon Life's affiliates in India. Until now, Nippon Life has done business in India through partially owned local entities. The life insurance division offers products to individuals and organizations while the asset management division deals in stocks, bonds and exchange-traded funds. The Indian operations had been overseen by Nippon Life's headquarters in Tokyo, but those functions are being transferred to the Singapore subsidiary starting this fiscal year. The new Indian subsidiary is intended to enhance collaboration with the group's local affiliates there and boost research capabilities, reported Nikkei Asia.
Two mainland Chinese-controlled technology-driven insurance intermediaries made the headlines in the past few weeks with the successful launch of their initial public offerings (IPOs) on Nasdaq.
The total number of agents of six mainland Chinese-run listed insurance companies was 1.66m in 2023, a year-on-year fall of 19% or a reduction of 380,000 from 2022, according to data released in the 2023 financial statements of the insurers.
Customer satisfaction has been a key aim for life insurance companies. However, the annual survey by Hansa Research, a market research company, called "Investor CuES" which measures customer satisfaction of the life insurance industry using a metric called 'Net Promoter Score' (NPS) shows stagnation in this important area in the last one year from 2023 to 2024.
The number of insurance agents in Singapore declined by 8.4% to 17,711 in 2023 from 19,310 in 2021, according to deputy prime minister Lawrence Wong.
Seven out of 10 (68.7%) life insurance planners consider the details and amount of coverage the most important in the consultation process with customers. The customer's economic ability is the important aspect to 15.1% of planners.
AIA Thailand will prioritise insurance products for senior citizens aged over 80, company CEO Nikhil Advani said.
The AIA Group has launched "AIA CAN: An Eco-Office Movement" (AIA CAN) - a large-scale, multi-year programme that seeks to empower over 25,000 employees across 18 markets to adopt environmentally conscious mindsets, attitudes and behaviours to create more sustainable workplaces and a healthier planet.
More than 15 million Australians will have their private health insurance premiums rise by more than 3% in the biggest increase in five years.