Artificial Intelligence may represent a major leap forward for the insurance industry, but it is very unlikely to replace actuaries, according to Mr Olusegun Omosehin, head of the National Insurance Commission (NAICOM). He added that NAICOM supports the federal government's goal of making Nigeria the AI hub for Africa.
The Central Bank of the UAE (CBUAE) has issued the Sandbox Conditions Regulation, which aims to attract start-ups and global FinTech businesses.
Nasdaq-listed Huize Holding, a leading Chinese insurance technology platform connecting consumers, insurance carriers and distribution partners, has expanded its global footprint with the acquisition of Global Care Consulting Joint Stock Company (Global Care), a pioneering InsurTech company in Vietnam specialised in digital transformation solutions for the insurance industry.
Cheche Group, China's leading auto insurance technology platform, has entered into a partnership with NIO Insurance Broker Co, a subsidiary of EV manufacturer NIO, as Cheche continues to deepen its collaboration with new energy vehicle (NEV) manufacturers.
The Office of the Insurance Commission (OIC) has tied up with the Digital Government Development Agency (DGA) to place its OIC Gateway service on the online platform, 'Government App'.
The main goal of the Digital Insurance APAC 2024 conference, according to Zurich Insurance APAC head of operational excellence and sustainability Luz Grande Vega, was to "explore the cutting-edge technologies, best practices and thought-provoking ideas that will hopefully shape Asia-Pacific insurance in the next years".
Online insurance sales constitute a lever for sustainable growth for the insurance industry, Insurance and Social Security Supervisory Authority director of policyholder protection Younes Lammat, has said.
YSX Tech, which provides business services primarily to insurers and brokerages in China, has filed for an initial public listing on Nasdaq in the US to raise up to $6m, says Renaissance Capital, a US-based global IPO investment advisor.
Beijing-based Internet insurance intermediary platform company Yuanbao is preparing for a listing in the US, and attending to regulatory directives to furnish information for the IPO.
Nasdaq-listed Fanhua, a leading independent technology-driven financial services provider in China, has signed a strategic cooperation agreement with Baidu AI Cloud to jointly develop "Du Xiaobao", an AI-Powered insurance sales assistant application for the agency channel.