Accident and Health

eight-chinese-insurers-receive-collective-fine-of-13m-yuan-us1-65m-for-price-fixing-student-insurance

Eight Chinese insurers receive collective fine of 11.8m yuan (US$1.65m) for price-fixing student insurance

June 22 2023

China’s State Administration for Market Regulation ruled the insurers created a monopoly to control the market and fix prices.

tokio-marine-newa-insurance-receives-fourth-capital-injection-to-meet-minimum-capital-requirements-after-surge-of-covid-19-payouts

Taiwan: Tokio Marine Newa receives fourth capital injection to help meet regulatory capital requirements in wake of Covid-19 claims

June 22 2023

TMNI needed to increase its risk-based capital ratio above 50% or risk being taken over by Taiwan's Financial Supervisory Commission.

policystreet-leads-series-b-rounding-for-malaysian-insurtech-policystreet

PolicyStreet raises US$15.3m in Series B round led by Khazanah

June 6 2023

Malaysia's sovereign wealth fund said it saw value in PolicyStreet's ability to offer accessible and meaningful coverage to the unserved and underserved.

lic-announces-expedited-claims-settlement-to-victims-of-tragic-balasore-train-accident

IRDAI asks insurers to carry out 'suo motu' claim settlement for policies related to the Odisha train collision

June 6 2023

The Indian regulator has asked insurers to minimise paperwork and use official lists of passengers to expedite claims payments.

Future Generali launches DIY health cover in India

June 5 2023

The health cover plan is aimed at younger customers by allowing them to hand-pick coverage features.

report-china-life-invests-300-million-yuan-in-series-b-round-for-yingke-biopharmaceutic

Report: China Life invests US $42.4m in Series B round for Yingke Biopharmaceutic

June 5 2023

Yingke was established in 2022 and is engaged in the R&D of pharmaceutical drugs

onedegree-global-testing-microsofts-azure-open-ai-service-for-saas-insurtech-solutions

OneDegree Global testing Microsoft's Azure Open AI service for pricing, underwriting and claims solution

June 5 2023

The insurtech is testing the generative AI feature in a private alpha of its IXT Seeble solution.

LIC announces expedited claims settlements for victims of tragic Odisha train accident

June 4 2023

On Friday, India experienced its most severe train accident of the century. Three trains derailed, causing the death of at least 288 people and injuring over 1100 more.

everest-poaches-singapore-based-glen-browne-from-chubb-to-lead-head-of-international-corporate-strategy

Everest hires Singapore-based Glen Browne from Chubb to head up International Corporate Strategy

June 3 2023

Browne will lead Everest's expansion into APAC, Europe and the UK.

munich-re-launches-ai-augmented-underwriting-solution-in-apac

Munich Re launches AI-augmented underwriting solution, Predictor, in Asia Pacific

June 3 2023

The cloud-based platform was developed by Munich Re Automation Solutions and is available immediately to L&H insurers in APAC, the Middle East, and Africa.

Aegon Life launches India's first insurance product for surrogate mothers and egg donors

June 2 2023

Digital insurer Aegon Life has launched India’s first insurance solution for surrogate mothers and egg donors. The policy offers a three-year life cover for surrogate mothers and a one-year cover...

six-former-agents-of-great-eastern-insurance-slapped-with-five-year-ban

Six former agents of Great Eastern insurance hit with five-year ban

June 2 2023

The Monetary Authority of Singapore (MAS) has issued a five-year prohibition order against six former agents of Great Eastern Financial Advisers, who were convicted for tax evasion offences. The six were...

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