Insurtech will improve, not kill, the advisory model

THESE days, you can't open a newspaper or website without reading about a new digital development. And this seems to be true across all sectors, from key international financial hubs such as Singapore and Hong Kong opening up their markets to welcome digital banking challengers, to property transactions and cross-border trade documentation going electronic.

Similarly, the insurance industry is currently undergoing massive changes in the digital era, especially in places like Singapore where digitalisation is widespread and insurance penetration is deep.

Tech is redefining the insurance consumer experience, including one-click shopping, same-day delivery, round-the-clock access and greater personalisation.