China – Swiss Re says insurers in China are on the crest of digital transformation wave
Digital transformation is giving rise to new and emerging risks (e.g., cyber exposures) and also facilitating development of innovative solutions for previously uninsurable risks such as intangible asset earnings and cash flows losses, says Swiss Re Institute. Digital transformation means new opportunities for insurers. For instance, there is a near-100 percent protection gap for cyber-related exposures in China today; we expect online distribution to contribute a large share of what will be a growing rural insurance market under the national ‘Rural Revitalization’ programme; and smart cities will offer growth potential across many lines of business. Get the publication HERE
India – Soon, car insurance premium may depend on how you drive
The Indian insurance regulator has assembled a panel of nine experts to determine if how you drive and how many accidents you have had will play a role in what premium you pay. Results of the study are due in 2 months. Read more at:
Kenya – Insurance firms’ profits drop to $33 million
Insurance companies in Kenya endured another difficult year after profits plunged by a staggering 61.5 percent in 2018.