Thailand's regulator, the Office of Insurance Commission (OIC), is now enhancing the readiness of the insurance industry in the face of rising cyber threats, including digital attacks, the use of AI to discover vulnerabilities, attacks through external service providers and risks arising from increasingly interconnected digital ecosystems.
The Monetary Authority of Singapore (MAS) has issued its Guidelines on Artificial Intelligence (AI) Risk Management to support responsible AI adoption in Singapore's financial sector, as AI technologies are developing rapidly and being adopted in financial services with increasing scale and sophistication. The Guidelines took effect on 7 October 2027.
The DIFC Insurance Association (DIFCIA) has announced the appointment of Mr Ahmed Rajab, Founder and CEO of SHIELDS Miller (formerly SHIELDS Reinsurance Brokers), as Chairman of the Association.
The Central Bank of Jordan (CBJ) is currently working to develop regulatory frameworks for licensing digital insurance platforms and updating the legal framework governing online insurance operations.
AI is accelerating health and medical research; personalised medicine is now a reality and new treatments are pushing the boundaries of what medicine can achieve, but a major question remains: whether they can prove, manufacture, finance and safely deliver them at scale?
Following an on-site inspection carried out by Hong Kong's Insurance Authority (IA) under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (AMLO)1,2, FWD Life Insurance Company (Bermuda) has been ordered to pay a pecuniary penalty of HK$19.5m ($2.5m).
In an online meeting with the Thai General Insurance Association and other insurance companies, Thailand's regulator, the Office of Insurance Commission (OIC), stated its aim to monitor insured losses and prepare measures to assist policyholders affected by the floods.
Businesses across Asia and the Middle East respond quickly when crises strike, while far fewer remain involved in the long-term recovery and resilience-building that follows.
The Korea Life Insurance Association (KLIA) is increasingly adopting AI into its operational areas, including consumer complaint handling and advertising reviews for member insurers.
Traditionally, the trade-off in underwriting is often between speed and quality. But through AI, technology is allowing (re)insurers to improve both, according to Swiss Re Head of Underwriting, Life & Health, Hong Kong & Taiwan and Global High Net Worth, Hazel Etherington-Squires.