What is the potential of the global takaful sector? What is the annual gross written contribution of the takaful market in 2020, and what is the projection in the next three years?
With the COVID-19 outbreak, life insurers across the globe have witnessed an acceleration of a digitally enabled model of distribution. V. Viswanand, Deputy Managing Director, Max Life Insurance, shares in this article how life insurers can transform into a new-age digital hybrid sales distribution model post COVID-19.
Asia Pacific has the highest percentage of medical claims fraud, sitting at 4%. This is double that of the EMEA region and almost triple that of the US. The insurance industry loses about $1 billion in fraudulent medical claims each year, but it does not have the time, resources and scale to combat the problem. This was the problem that RGA attempted to solve with their claims adjudication automation solution.
Determined to fly Singapore's flag on the global stage, Advisors Alliance Group created history in the financial advisory world when it became the nation's first "100 IDA Team" in 2018. They are now the only group in Singapore to have been awarded thrice. Asia Advisers Network had a chat with Sunny Yap Soon Jin, Executive Director of Advisors Alliance Group, an authorised representative of AIA Financial Advisers in Singapore, to learn about the secrets behind its success.
A trio of Covid-19 related risks ranks at the top of Allianz Risk Barometer 2021, reflecting potential disruption and loss scenarios companies are facing in the wake of the coronavirus pandemic. Business interruption (#1 with 41% responses) and Pandemic outbreak (#2 with 40%) are this year's top global business risks with Cyber incidents (#3 with 40%) ranking a close third.
Cyber insurance is expected to go mainstream to address the spike in cyber risk for individuals and small businesses. Cyberscout, a provider of personal and commercial cyber risk assistance services, shares its perspective on the fundamental shifts in the global cyber risk landscape that happened in 2020, and what 2021 will bring for the insurance industry.
People are increasingly worried about the long-term impact of the COVID-19 pandemic, according to Cigna's International Markets business' fourth edition of its COVID-19 Global Impact Study.
We are counting down to the end of the year. Whether you are still running for your goals or you have accomplished them and want a headstart to the new year, here are some messages worth revisiting to charge you up.
Asia has performed well compared to other regions, with economic activity forecast to contract by only 1.3% this year despite negative shocks of the pandemic and the ongoing US-China trade war, according to trade credit firm Atradius' 2021 Regional Economic Outlook for Asia.
The COVID-19 pandemic has accelerated digital transformation, including in the high net worth (HNW) and ultra high net worth (UHNW) insurance space. Joseph Low, Group CEO, Private Client Services by Mercer (PCS) shares why innovating in this space is a fine balancing act.
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