In 2023, the Southeast Asia (SEA) insurtech sector experienced an astonishing boom in deal value, soaring to $2.35 billion. This surge is remarkable, especially when juxtaposed with the deal value in 2022, which was significantly lower at $538 million. These figures have materialized despite a drop
Artificial Intelligence (AI) is transforming industries, and life insurance is no exception. In the realm of underwriting, AI is not just a tool; it's a catalyst driving efficiency, accuracy, and transformative change. This article delves deep into how AI is revolutionizing life insurance
Rhode Island is taking a significant step towards enhancing cybersecurity in the insurance sector with a new data privacy law set to take effect on January 1, 2025. This landmark legislation requires insurers to establish and maintain a comprehensive written information security program, which must
Navigating the continuously shifting risk landscape is becoming increasingly complex for Chief Risk Officers (CROs) in the insurance industry. With a myriad of financial and non-financial risks to manage, CROs are now pivotal in steering their companies towards sustained profitable growth. This
Auto insurance is a critical consideration for drivers, and the efficiency with which an insurance company handles claims can significantly impact customer satisfaction. The ability of an insurer to provide prompt and fair resolution to claims can turn an unfortunate situation into a manageable
In recent years, the insurance industry has undergone a significant transformation driven by technological advancements. One of the most impactful developments is the integration of AI-powered automation, which is revolutionizing the way insurance claims are processed. This article explores how
In today’s fast-paced digital age, the insurance industry faces significant challenges in document management. Vast volumes of paperwork, the need for accuracy, and compliance complexities create an environment ripe for technological intervention. BNP Paribas Cardif, a global financial services p
Navigating the high seas has always come with its fair share of risks, but recent geopolitical conflicts have magnified these dangers. The maritime industry faces multifaceted threats that require comprehensive risk management approaches to ensure the safety and security of commercial vessels and
The launch of RB Ventures in Dubai marks a significant development in the re/insurance and insurtech sectors, led by Rohit Boda, the Managing Director at J.B. Boda Group. This new venture capital firm aims to bridge the capital gap in these industries by offering investment opportunities to global
The insurance industry is undergoing a significant transformation, driven by a confluence of macroeconomic pressures, shifting customer demographics, and rapid technological advancements. Amidst these changes, Majesco has emerged as a pivotal player in spearheading this evolution. Recognized in
