Etiqa Insurance SG links travel insurance spending to tiered benefits.
The insurance industry from 21 to 25 September saw increased technological advancements in insurance processes, alongside a series of platform upgrades, new rewards programmes, and policy integration initiatives across Asia.
Singlife has expanded its use of artificial intelligence (AI) with Salesforce to handle more customer enquiries and support its customer service teams.
The insurer’s General Insurance (GI) Email Agent now handles more than 20% of customer enquiries received by email.
Singlife also introduced its AI agent Buddy last year and has already reduced the average handling time for enquiries by 30% and cut training time for new hires by 50%.
Meanwhile, Cigna Healthcare Hong Kong has seen a 38% year-on-year increase in visits to its online insurance application platforms as more customers start their health insurance search digitally.
The insurer has refreshed its online health insurance experience to help customers compare plans, assess coverage, obtain quotations and complete applications online, with support from Cigna representatives.
On upgrades, FWD Hong Kong has announced an upgrade to its FWD Care platform, introducing new support services in collaboration with HKSH Medical Group and Haven of Hope Sister Annie Skau Holistic Care Centre.
The services cover complimentary early detection for Alzheimer’s disease, an expanded cancer second medical opinion service, and a palliative care referral service.
A recent survey by FWD found that 78% of respondents consider non-financial support, such as specialist referrals and second medical opinions, as important as financial payouts during a serious illness diagnosis.
Similarly, Zurich Kotak General Insurance (ZKGI) has introduced Business Secure Plus, a digital-first insurance proposition designed to streamline risk protection for small and medium-sized enterprises (SMEs) in India.
The platform enables businesses to customise premiums and coverage to their risk profiles, with policy issuance completed within minutes.
Moreover, Etiqa Insurance Singapore has launched a rewards programme that links travel insurance spending to tiered benefits, as it seeks to encourage customers to use its Tiq Travel Insurance products across multiple trips.
The Travel Pass programme gives customers rewards based on their eligible premium spending, with membership starting at Bronze after $78.4 (S$100) in spending and progressing to Silver, Gold and Platinum at higher spending levels.
Tata AIA Life Insurance has launched Tata AIA Shubh SIP, a unit-linked insurance plan (ULIP) designed to integrate wealth creation, life protection, and retirement planning into a single solution.
For long-term and retirement planning, the product offers a Retirement/Whole Life option that allows policyholders to initiate an automatic Systematic Withdrawal Plan (SWP) starting at age 60.