InsurTech
MAS Unveils List of ‘Too-Big-to-Fail’ Insurers, May Face Higher Cap Requirements
The Monetary Authority of Singapore (MAS) will be imposing higher capital requirements on domestic systemically important insurers (D-SIIs) as part of its efforts to strengthen the resilience of the financial sector. In a D-SII framework that will come into effect
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bolttech Extends Series B with US$50M from LeapFrog Investments
Insurtech company bolttech announced that it has raised US$50 million from LeapFrog Investments, an impact investment firm. This investment is an extension of bolttech’s Series B funding round, which now totals US$246 million. bolttech said that it will use the
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Singtel Launches Flexible Home Insurance Plan with Great Eastern
Singaporean telecom conglomerate Singtel has partnered with Great Eastern to launch a flexible home and contents insurance plan. Customers need to be an existing Singtel broadband subscriber to qualify for the plan. The Singtel Home Protect Flexi is an enhancement
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Sumitomo Life to Acquire Aviva’s Stake in Singlife for S$1.4 Billion
British insurance company Aviva plc has agreed to sell its 25.9% stake in financial services company Singapore Life Holdings (Singlife) to Sumitomo Life Insurance Company in a cash deal worth S$ 1.4 billion. The transaction is expected to close in
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Igloo Names John Chen as Country Manager for Thailand
Regional insurtech Igloo has named John Chen as its Country Manager for Thailand with the aim to strengthen its presence in that market. Chen will be responsible for strengthening Igloo’s presence in Thailand by growing the business, establishing strategic partnerships,
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Great Eastern Launches EV Insurance Plan to Meet Singapore’s Growing Demand
Great Eastern has launched a new standalone electric vehicle (EV) insurance plan, GREAT EV Protect, to support Singapore’s transition to an EV-only future. The plan offers a range of benefits specifically designed for EV owners including outpatient medical claims due
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Great Eastern and Intellect to Launch Mental Health Helpline for Client’s Employees
Great Eastern has partnered with mental health startup Intellect to provide its corporate clients’ employees with 24/7 access to a distress helpline staffed by experienced responders, offering real-time, immediate, and professional support. The insurance company said that this ensures that
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Two Asian Firms Make CB Insight’s 2023 Top 50 Insurtech Companies List
In Q2 2023, global insurtech funding recorded a significant 36% quarter-on-quarter (QoQ) decline from Q1’s US$1.4 billion, sliding below the US$1 billion mark for the first time since 2018, new data released by CB Insights show. The drop occurred amidst
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Klook Ties up With Zurich Singapore to Add Telehealth Services to Travel Insurance
Travel platform Klook has tied up with Zurich Singapore to introduce TravelJoy, a revamped travel insurance offering that includes all-encompassing coverage for its customers. In addition to covering trip cancellations, medical emergencies, and lost or stolen luggage, TravelJoy also offers
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Surer and DirectAsia to Simplify Car Insurance Policy Customisation
Local insurtech Surer announced that it has formed a partnership with Singapore-based motor and travel insurance provider DirectAsia. The partnership aims to empower insurance intermediaries to offer highly customisable car insurance policies to serve their customers, the end policyholder, with
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