In Focus

Digital dominance and healthtech helped them mitigate losses, Singapore Business Review found.

Upon the parents’ demise, the payout from the insurance goes to the children’s SNTC trust fund.

Multiple technology projects could put a strain on insurers.

The country’s private health has been on a steep decline since 2015.

The youngest millennials are now part of the workforce.

Only 34% are covered by flood damages such as falling trees.

Insurers said this will have a significant impact on portfolio construction.

An analyst warns that these could cause some of the data for pricing risk to become obsolete.

Meanwhile, global commercial insurance prices increased by 15%.

Thanks to the growing demand for protection-type life insurance products.

Insurers made ‘sweeping changes’ for the upcoming reforms, it said.

AM Best predicts a negative outlook for the country’s non-life segment.

The country’s life insurance industry is growing at a CAGR of 1.4%.

The motor insurance segment grew by 11.7% in 2020.

Analysts, however, warn that this may increase competitive pressure.

The top 20 insurance firms reported an aggregated premium of $821.4b.