Data – InsuranceAsia News https://insuranceasianews.com/industry_segments/data/ Tue, 23 Dec 2025 05:00:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Acord aims for ‘absolute sweet spot’ with Singapore roll out of digital messaging platform https://insuranceasianews.com/acord-aims-for-absolute-sweet-spot-with-singapore-roll-out-of-digital-messaging-platform/ Mon, 22 Dec 2025 23:30:14 +0000 https://insuranceasianews.com/?p=207517 Ex-International Underwriting Association CEO Dave Matcham, now global ambassador for Acord Solutions Group, says the platform is part of a regional hub model called ‘Connected Markets’.

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Industry-owned data specialist Acord Solutions Group (ASG) will seek to place the last link in its regional hub chain with the formal launch of its new messaging platform in Singapore next year, accor...

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]]> SK Telecom facing US$1.5bn compensation payout following cyber breach: reports https://insuranceasianews.com/sk-telecom-facing-us1-5bn-compensation-payout-following-cyber-breach-reports/ Mon, 22 Dec 2025 04:46:36 +0000 https://insuranceasianews.com/?p=207530 South Korea's largest mobile network operator suffered the data breach in April, which impacted its 23 million users.

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South Korea's largest mobile network operator, SK Telecom, is facing a potential compensation payout of KRW2.3 trillion (US$1.5 billion) after being ordered by regulators to compensate all of its cust...

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]]> Regional risk concerns for ‘fourth utility’ as data centres seek answers to perils threat https://insuranceasianews.com/regional-risk-concerns-for-fourth-utility-as-data-centres-seeks-answers-to-perils-threat/ Wed, 02 Jul 2025 23:30:10 +0000 https://insuranceasianews.com/?p=194286 Threat of cyber attack or system failure has been a focus for risk management systems, but physical risks, such as natural disasters, power failures and physical security risks, are often less understood.

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With the news of a "significant" cyber attack on Australian airline Qantas emerging, it is the threat of more traditional, natural perils that are causing concerns for crucial data centres in the Asia...

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]]> Indonesia’s non-life GWP up 13.8% to US$46.7bn in 2024 https://insuranceasianews.com/indonesias-non-life-gwp-up-13-8-to-us46-7bn-in-2024/ Fri, 21 Mar 2025 07:36:05 +0000 https://insuranceasianews.com/?p=178880 Underwriting result for P&C insurance segment decreased more than tenfold to US$666m, while reinsurance saw a US$66.6m loss.

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Total general insurance premium income in Indonesia grew by 13.8% to IDR769 trillion (US$46.7 billion) in 2024, compared with IDR675.6 trillion in 2023, according to annual statistics by the country's...

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]]> Floodgates to open? India lifting FDI limit promises insurance landscape shift https://insuranceasianews.com/indias-full-fdi-limit-promises-big-shifts-in-insurance-landscape/ Mon, 03 Feb 2025 23:30:33 +0000 https://insuranceasianews.com/?p=174942 Removing India's foreign investment cap for insurance companies could attract a surge of international capital, according to market experts.

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India's move to further open up its insurance industry by increasing the foreign direct investment (FDI) limit for firms to 100% is expected to attract an influx of international capital, bolster comp...

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]]> Asean US$7.5bn health insurance market sees increased competition, rising claims: Malaysian Re https://insuranceasianews.com/asean-us7-5bn-health-insurance-market-sees-increased-competition-rising-claims-malaysian-re/ Mon, 25 Nov 2024 09:53:12 +0000 https://insuranceasianews.com/?p=170538 The model of carriers acting as intermediaries between healthcare providers and patients, focusing on cost management, is becoming increasingly difficult to sustain in the face of changing market conditions, according to this year’s Asean Insurance Pulse report.

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Demand for private health insurance in Asean countries with an estimated market premium of US$7.5 billion is rising, especially following the Covid-19 pandemic, according to this year’s Asean Insuranc...

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]]> Aon names Mike Yao as Asia director for life reinsurance analytics https://insuranceasianews.com/aon-names-mike-yao-as-asia-director-for-life-reinsurance-analytics/ Fri, 22 Nov 2024 04:35:13 +0000 https://insuranceasianews.com/?p=170436 In his new role, Singapore-based Yao will contribute to the development and articulation of the broker's analytics value proposition for its APAC clients.

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Global broker Aon has appointed Mike Yao as director for life reinsurance analytics for Asia, according to a LinkedIn update.
In his new role, Singapore-based Yao (pictured) will contribute to the dev...

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]]> Aon promotes Singapore-based Magnus Roe to global chief data and analytics officer https://insuranceasianews.com/aon-promotes-singapore-based-magnus-roe-to-global-chief-data-and-analytics-officer/ Thu, 21 Nov 2024 03:12:16 +0000 https://insuranceasianews.com/?p=170347 Roe, who was global head of strategy, risk capital analytics for the broker, will integrate AI, data governance and analytics into the broker's data and analytics strategy, reporting to Aon COO Mindy Simon.

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Global broker Aon has elevated Magnus Roe as global chief data and analytics officer as part of its strategy to advance its commercial solutions with analytical capabilities, according to a press rele...

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]]> Better cat data key to easing region’s growing capacity pressures: Perils’ APAC head https://insuranceasianews.com/quality-data-alternative-capital-keys-to-regions-capacity-pressures-perils-apac-head/ Wed, 25 Sep 2024 23:30:48 +0000 https://insuranceasianews.com/?p=163482 As insurance penetration and cat exposure rise in APAC, the availability of better quality data must go hand-in-hand with the growth of alternative capital sources. That leads the cat loss specialist to expand its loss data coverage in Japan & South-East Asia, said Darryl Pidcock.  

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As insurance penetration rates and catastrophe exposure continue to climb in the fast-growing APAC markets such as India and China, the need for better quality data will be as pertinent for the region...

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]]> Gen AI prophecy turns reality as insurers count cost benefits https://insuranceasianews.com/gen-ai-prophesy-turns-reality-as-insurers-count-pl-benefits-from-adoption/ Sun, 30 Jun 2024 23:30:23 +0000 https://insuranceasianews.com/?p=156965 Artificial intelligence, blockchain and embedded solutions are delivering tangible cost savings and enabling more competitive premium rates, senior insurance executives told an industry forum.

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Once called a hype bubble and false prophet, artificial intelligence and blockchain are getting their names cleared. They are now delivering their bottom line promises to insurers, which are making sw...

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