Industry participants say the proposed framework, set to launch by 2028, could reduce costs, improve operational efficiency and support broader adoption of captives and insurance-linked securities.
Rising medical inflation and ageing populations are forcing life and health insurers to shift from product distribution to life-stage design and value generation.
AI progress in insurance is being slowed less by the technology itself than by legacy systems, unresolved accountability questions and procurement cycles that can't keep pace, executives warned
The life insurer will work with Singapore’s Institute of Banking and Finance and local universities to build practical skills in AI governance and reskill employees.
Climate risks and rising costs are widening protection gaps across Asia's insurance market, driving companies to captives and self-insurance and posing a challenge for insurers.
