IXT, a core insurtech solution provider under AIFT, the Hong Kong-based technology firm, has announced a partnership with Richmond Insurance Brokers to launch the first digital platform for commercial insurance in Taiwan.

This collaboration brings fresh momentum to the Taiwanese insurance market, offering small and medium-sized enterprises (SMEs) a more convenient and efficient way to access commercial insurance services, AIFT said in a statement on Monday.

This groundbreaking initiative integrates commercial insurance products from several well-known insurers, including cybersecurity insurance from MSIG Mingtai Insurance, public liability insurance for businesses and property management committees from Hotai Insurance, and event liability insurance from Union Insurance.

Through IXT’s Launchpad platform, traditional complex insurance processes can be digitized, significantly simplifying the quoting and policy issuance experience.

Notably, the cybersecurity insurance offering from MSIG Mingtai Insurance is deeply integrated with Cymetrics, a cybersecurity risk assessment provider under AIFT.

SMEs can submit their domain information to be scanned and analyzed by Cymetrics’ EASM cybersecurity risk platform, with premiums automatically calculated based on the domain’s risk ratings — creating a more risk-driven approach to cyber protection.

“Our goal is to fundamentally transform the insurance experience — including commercial insurance — through our innovative solutions,” said Michelle Ip, Chief Executive Officer of AIFT Enterprise.

“With the Launchpad platform, we’ve not only digitized cumbersome insurance processes, but also established a powerful policy management system and rapid product update mechanism,

“This enables SMEs to complete their insurance purchase and enjoy protection seamlessly,” she added.

Kevin Kuo, General Manager of Richmond Insurance Brokers, added that commercial insurance has long been one of the most difficult areas to digitize.

“This partnership with AIFT allows us to offer our clients an unprecedented insurance purchasing experience,

“Especially for SMEs, being able to quickly and intuitively access the coverage they need greatly enhances both service efficiency and customer satisfaction,” he added.

This collaboration between AIFT and Richmond Insurance Brokers brings an unprecedented insurance service experience to SMEs in Taiwan, showcasing AIFT’s ambition to drive the insurtech innovation and set a new benchmark for digital transformation in the insurance sector, said the statement.

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