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Insurance disruption fuelling customer-centric innovations

Major insurers setting up Singapore innovation labs as technologies like artificial intelligence, blockchain drive industry changes

Published Sun, Jan 15, 2017 · 09:50 PM

Singapore fintech

Singapore

DRIVEN by the rapid advances in technology, insurers in Singapore have been taking steps to be more customer-centric in an attempt to retain loyalty and attract new policyholders.

Front-end disruption in the sector will continue in 2017, as will the rise of unions between innovation-starved insurers and technology-related start-ups, industry players and observers echoed in unison.

They add that artificial intelligence, open application programme interface (API) and blockchain are technologies driving disruption in insurance.

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