InsurTech

Singapore insurer Singapore Life Holdings Pte Ltd (Singlife) announced Monday that it has become a fully owned subsidiary of Japan-based Sumitomo Life Insurance Company (Sumitomo Life).

Sunday Ins Holding, a Singapore-based regional full-stackinsurtech group, has completed the acquisition of PT KSK Insurance Indonesia in January. The deal makes the firm as one of the largest insurtech groups fully licensed in the two largest general insurance markets in the region with revenue surpassing $100 million.

#Insurtech companies have emerged as catalysts for change, seamlessly integrating insurance into diverse platforms such as #ecommerce, #fintech, and #logistics. Through innovative solutions, they are democratizing access to insurance products, and bridging the gap between offline consumers and the digital marketplace.

Indonesian insurtech PasarPolis has on Tuesday unveiled strategic plans to capture the insurtech market opportunities in the country. According to the firm, the insurtech industry anticipates a dynamic and transformative year in 2024.

Singapore's fintech sector has witnessed an extraordinary surge in funding for artificial intelligence (AI) technologies, despite a global downturn in fintech investments, KPMG said Tuesday. The AI fintech funding in Singapore skyrocketed to an impressive $333.13 million in the second half of 2023, marking a significant 77 percent increase from the $148.08…

Thailand-based insurtech Roojai Group announced last Friday that it has acquired Lifepal, an online insurance broker in Indonesia with over 2 million unique visitors per month.

OneDegree Group, a Hong Kong-based insurtech, has made two key appointments on January 1, 2024. Michelle Ip has been appointed Chief Executive officer of OneDegree Global, the group’s technology arm. Meanwhile, Robin Scott has been named General Manager of OneDegree Middle East, the newly established division facilitating the group’s strategic expansion…

Japan-based Sumitomo Life Insurance Company has entered into an agreement with TPG Inc. to acquire TPG’s 35.48 percent stake in Singapore Life Holdings Pte. Ltd. (Singlife) for SGD 1.6 billion ($1.21 billion). Together with the acquisition of additional stake in Singlife from Aviva Group, Singlife is expected to become a subsidiary of Sumitomo Life.

OneDegree, a Hong Kong-based licensed insurer for digital assets, has partnered with Dubai Insurance Company to offer digital asset insurance in the United Arab Emirates (UAE). As part of the partnership, Dubai Insurance has also made a strategic investment in OneDegree’s Series B funding round.

Singapore-based financial services company Singlife has launched the second edition of its in-house accelerator program, Singlife Connect. The accelerator program supports and spurs the growth of promising insurtech and budding ecosystem enterprises, Singlife said in a statement on Wednesday.