CEOs in the insurance sector are confident about their company's growth prospects over the next three years despite challenges in digital transformation, talent and sustainability, a survey of 120 sector leaders from across the world finds.
Giving everyone the opportunity to access their own data openly, transparently, and securely by linking the data with the banking sector, which is the centre of financial services, will lead to the development of financial products and services that better meet consumer needs, according to the Office of Insurance Commission (OIC).
Stolen customer data including medical reports from India's biggest standalone health insurer, Star Health and Allied Insurance, is publicly accessible via chatbots on Telegram, reported Reuters.
State-run Life Insurance Corporation of India (LIC), the country's biggest life insurer, has committed INR6bn ($72m) for its digital transformation journey, according to the company's chief risk officer Mr Sunder Krishnan.
WTW, a leading global advisory, broking, and solutions company, has formed a dedicated technology industry practice within its Corporate Risk & Broking (CRB) business in Australia and New Zealand.
WTW has appointed Mr Ben Di Marco as leader of its new dedicated technology industry practice. He is a cyber and technology risk specialist.
The rapid rise of autonomous vehicles in China presents a challenge to insurers who have to create new motor insurance products to keep pace with technological advancements, according to a new white paper.
Australia has dealt with cyber breaches of some major companies including financial and insurance companies, says QBE Insurance.
The Financial Services Commission (FSC) has introduced a roadmap to bring about improvements to IT network security in the financial services industry, the regulator says in a statement.
Phinsys, a leading provider of intelligent automation solutions for finance, accounting, and regulatory compliance in the insurance sector, has opened its new regional office in Dubai.