The sales of insurance policies directly by insurance companies still dominate the Saudi insurance market, as the percentage of policies sold through insurers was around 50.3% in 2023, compared to 46.1% through insurance brokers and 3.6% by insurance agencies.
FWD Insurance Berhad (FWD Insurance) launched its newest product, FWD Max Wealth, which allows customers to maximise their wealth with increasing guaranteed cash payments as they celebrate special milestones in life.
The Council of Australian Life Insurers (CALI) has achieved a significant development in its Partner Program by securing Equisoft, a provider of digital solutions for the financial sector, as its inaugural corporate partner.
Manulife Cambodia has introduced Manulife Premier, a new, comprehensive life insurance solution designed to offer entrepreneurs, SMEs, and affluent individuals with a financial protection plan and a legacy for a better future for their future generations.
Manulife Hong Kong and Macau (Manulife) and Standard Chartered Bank (Hong Kong) Limited (Standard Chartered Hong Kong) have launched a distribution partnership. With immediate effect, Manulife is offering Standard Chartered Hong Kong's private banking clients a diverse range of solutions encompassing savings, protection, wealth accumulation, and legacy planning so as to cater to the unique financial needs of clients at different stages of life, empowering them to make the most of their wealth to achieve their financial goals.
Bupa Health Insurance has introduced its latest marketing initiative, "Good health is contagious." The campaign was launched in response to findings from the Bupa Pulse Check survey, which showed a significant trend among Australians towards prioritising health and wellbeing.
Manulife Hong Kong has launched Genesis, a new participating life-insurance savings plan designed to help customers accelerate their long-term savings. With Genesis, customers only need to pay premiums for five years to enjoy a total internal rate of return (TIRR) of up to 4.29% at the end of the 10th policy year, and a TIRR of up to 7.19% at the end of the 100th policy year, allowing for potential wealth transfer to the next generation.
The Office of the Insurance Commission (OIC) has developed a database on insurance fraud or wrongdoing by agents and brokers.
Singlife has partnered with Doctor Anywhere, a local tech-driven healthcare firm, to launch a new health subscription plan aimed at self-employed individuals, including gig workers.
The Insurance Regulatory and Development Authority of India (IRDAI) has removed the age cap on buying health insurance policies, effective from 1 April 2024. Earlier, individuals were restricted to purchasing new insurance policies only until the age of 65.