DBS Hong Kong is offering customers in Hong Kong a cyber insurance product, CyberOne, underwritten by Chubb Insurance. The product provides comprehensive coverage for cyber risks, including online privacy invasion, identity theft, and access to specialists via a 24-hour hotline.
QBE is providing compulsory third party (CTP) cover for the first open-traffic driverless vehicle trial in Australia. QBE says the trial will provide insights on the rapidly evolving technology, which will require the industry to reconsider the way insurance is provided.
According to AXA Global Parametric, speed in claims processing is one of the main benefits of parametric insurance compared to traditional forms of insurance. Another major benefit is that it can fill in current insurance market gaps.
SCOR Global Life has teamed up with wearable technology company Garmin Health to improve its underwriting. Garmin Health will support SCOR Global Life’s Biological Age Model (BAM) to integrate more bio-metric data into its algorithm and offer underwriting insights.
Swiss Re Corporate Solutions has a new cyber offering designed for small and medium-sized enterprises (SMEs). Developed with French cybersecurity InsurTech OZON, CyberSolution 360° merges insurance with cyberattack protection services to help organizations manage digital perils.
MassMutual’s LifeScore Labs has introduced a consumer-facing risk scoring tool called MyLifeScore360. The tool answers how an insurance carrier may measure an individual’s risk, by having customers answer 10 simple questions and providing them a score from 1-100.
According to Chubb’s survey of small and medium enterprises (SMEs) in three major Asia-Pacific markets, a significant perception gap exists between cyber risk and how well these businesses are prepared to deal with it.
Munich Re is pouring an undisclosed sum into the German Research Center for Artificial Intelligence (AI). Through this collaboration, the firm aims to develop best processes for its clients, make the latest research available to its employees, and further advance research.
Qualitas, a Mexico-based auto insurer, has partnered with Octo Telematics, a provider of telematics and data analytics solutions for the auto insurance industry, to develop the telematics market in Mexico by leveraging Octo’s driving behavior analytics in the commercial lines space.
AXA Partners is cooperating with We Chat to create a mini program, ‘AXA Go’, to offer travel insurance services in China. AXA Go is fully integrated into the We Chat Go ecosystem and offers travel insurance and one-stop shop extended services to Chinese travelers.
FWD enables 24/7 travel insurance claims via chatbotFWD Singapore has launched a chatbot that allows its customers to make travel insurance claims 24/7. The chatbot, named Faith, will assist customers through the entire process of submitting travel insurance claims, and will also answer their queries about FWD’s insurance offerings.
Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). According to the study, the impact of business interruption is the biggest risk for companies for the seventh year in a row.