InsurTech
How Will Driverless Cars of The Future Be Insured?
Self-driving cars have been touted that as the future of transportation by many, including the likes of Elon Musk who claimed that Tesla will roll out “truly self-driving cars” by 2020, which in case you have noticed, is only a
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Digital Insurance Grown 20 Times but Traditional Channels Still Dominant in China
The insurance industry is on the brink of a major transformation, driven by factors such as macroeconomic development, changing consumer expectations, technological innovation and increased competition, according to a recent insurtech report by jointly published by ZhongAn and KPMG. In
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Shake-Up in ZhongAn’s Senior Leadership Team
ZhongAn, a leading insurtech company in China, today announced new senior leadership appointments. Former General Manager and Joint CEO Mr. Jin Chen has resigned his positions, whilst continuing his role as an Executive Director, Chairman of the Investment Strategy Committee
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Globally, Insurtechs Received over US$1 Bil in Funding Q1 of 2019
Insurtech investment continued its momentum with 85 deals totaling US$1.42 billion recorded in Q1 2019, marking the third-straight quarter to register more than US$1 billion in funding. Over Q4 2018, the deal count increased by 35%, although total funding decreased
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Hong Kong Insurtech OneDegree Closes Over US$ 30 Million in Extended Series A
OneDegree, a Hong Kong-based insurance technology start-up under Cyberport Incubation Programme, extends its Series A round to above US$30 million, subject to regulator’s approval. The extended round is led by BitRock Capital and it sees participation from Cyberport Macro Fund,
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Insurtech’s Explosion in Hong Kong, and What May Be Coming for the Scene
Asia is traditionally a region with low insurance penetration, and Hong Kong was no exception to that rule. Between 2012 – 2016, Hong Kong’s insurance penetration changed from 12.4% of the population to a 17.6% of the population—a significant increase
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Their Business Faced Roadblocks, So Didi is Now Mirroring Alibaba’s Fintech Game Plan
The company that drove Uber out of China, Didi Chuxing, comes into the new year embroiled in controversy. About a month ago, Didi announced a major restructuring—the latest development in series of platform tweaks after it came out that the
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Hong Kong Insurance Authority Authorizes First Virtual Insurer Under Fast Track
The Insurance Authority (IA) announced that it has granted the first authorization of a new insurer owning and operating solely digital distribution channels under the Fast Track, marking a significant milestone of Insurtech development in Hong Kong. “The first virtual
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First Industry-Wide Use of Blockchain-Based Authentication in Motor Insurance
CryptoBLK in collaboration with The Hong Kong Federation of Insurance (HKFI), launched a Motor Insurance DLT-based Authentication System (MIDAS), the first motor insurance platform in Asia using blockchain technology in production to verify the authenticity of motor cover notes/policies. Verification of
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Tencent’s WeSure Forms Partnerships with 20 Insurance Companies
WeSure, Tencent’s insurance platform, has widened its line of products and formed partnerships with 20 insurance and reinsurance companies. The “data-driven” and “social connection” features of WeChat, as Alan Lau, Chairman & CEO of WeSure, mentioned in a recent CNBC interview, will help
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