Insurance
S’pore’s NTU develops AI model for affordable farmer insurance
S’pore’s NTU develops AI model for affordable farmer insurance
It could improve policyholders’ wealth by nearly 5% whilst being 37% cheaper.
Canara HSBC Life unveils OmniGen AI to streamline underwriting
It also helps underwriters refine key judgement points in risk evaluation.
QBE's conservative portfolio curbs investment risk
Net profit doubled year-on-year to $806m in H1 2024.
Aon appoints new leader for data and analytics
He will be based in Singapore.
Increased capital ratio supports Arch Indemnity's growth
Fitch expects this ratio to remain above the insurer’s internal target range.
Chaucer appoints new class underwriter for political risk
Ng specialised in political risk underwriting at AXA XL before joining the company.
China-based Groupama SDIG enhances non-agri insurance strategy
Over the past three years, the company’s combined ratio averaged 98%.
Half of risk leaders confident in current strategy: WTW
23% of respondents said supply chain issues as a critical challenge.
Climate change alters insurer risk management: S&P
Secondary perils have caused the reinsurance industry to regain capital in 5 of 6 years.
Hanwha Life acquires 75% stake in US firm Velocity Clearing
It aims to establish a foothold in the US financial sector.
Allianz Asia Pacific's business volume jumps 16%
The annualised premium (ANP) for Life/Health grew 14%.
New PH rule allows insurers and reinsurers to invest in infrastructure projects
Investments may be made through equity or debt.
APAC insurance M&A activity slows in Q3
Two major transactions faced regulatory scrutiny during the quarter.
Manulife enters into $5.4b reinsurance agreement with Reinsurance Group of America
The transaction is expected to close in early 2025.
Global insurtech market to hit $77.41b by 2028
Key drivers include the need for improved business efficiency.
Global life risk protection grows at 2.7% annually
Demand for protection products shows less sensitivity to interest rate changes.
PH manpower agencies must deposit $398 insurance for Bahrain-bound migrant workers
It will cover repatriation costs in case of employment termination.
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1. Remote job demand in Singapore insurance rises 15.3% 2. India insurance market sees moderating premium growth: Report 3. Tokio Marine Life, RHB launch guaranteed-acceptance plan for seniors 4. Manulife to sell MVI Life to Japan’s Asahi Life 5. Hong Kong reinsurers to absorb significant claims from Wang Fuk Court fireResource Center
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AI isn’t replacing insurance, it’s finally making it work