This week in insurance: AI hiring jumps, TikTok enters distribution, Manulife launches India JV

Foreign workers in Vietnam working under contracts covered by state social insurance.

The insurance industry from 1 to 5 June saw accelerated AI adoption, expanding distribution and technology partnerships, regulatory changes affecting coverage, new market ventures, and continued leadership and operational developments across Asia.

Insurance companies are fast-tracking the use of artificial intelligence (AI) due to intense market competition, but industry insiders warn that the technology is not yet ready for widespread deployment.

GlobalData's job analytics tracking showed 63,293 active AI-related job vacancies in the insurance sector during 2025.

This marks the highest annual figure on record and represents a 50.9% increase compared to 2024.

Foreign workers in Vietnam working under labour contracts of at least 12 months are now covered by compulsory social insurance (SI) under the 2024 Law on Social Insurance.

The policy applies to foreign citizens employed by Vietnamese employers under definite-term labour contracts lasting 12 months or longer, according to Clause 2, Article 2 of the law, according to Vietnam Social Security.

TikTok is expanding its role in insurance distribution by partnering with ERGO NEXT Insurance.

The partnership allows TikTok Shop merchants to purchase business insurance products, including general liability, professional liability, workers' compensation and cyber insurance, through TikTok's merchant onboarding and business management platform.

Mahindra Group and Manulife have incorporated their life insurance joint venture, Mahindra Manulife Insurance Limited (MMIL).

The two companies first announced the partnership on 12 November 2025 and have now confirmed the incorporation of MMIL following approval from India's Ministry of Corporate Affairs.

KoverNow has partnered with Watch Exchange, a luxury watch dealer in Singapore, to offer digital insurance coverage for high-value timepieces.

Under the partnership, customers purchasing watches through Watch Exchange can obtain insurance with worldwide coverage backed by AXA XL.

Manulife Hong Kong has signed a partnership with Alibaba Cloud to explore the use of artificial intelligence (AI) across its business, including customer services, fraud detection and operational processes.

The agreement, outlined in a Memorandum of Understanding, will see the insurer work with Alibaba Cloud to develop and test AI applications for the insurance sector.

FWD Group Holdings Limited appointed Jeffrey Woo as President Director of PT FWD Insurance Indonesia, following approval from the Financial Services Authority (OJK).

Aon has expanded its global capability centre in Bengaluru with a new facility at The Earth Centre by Vista Spaces in Whitefield, as the professional services firm strengthens its global operations and delivery capabilities.

India serves as a key market for Aon, supporting its Risk Capital and Human Capital businesses through a combination of talent, technology and operational expertise.