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BlogBlogExploring Innovation, Cloud Technology, and Cyber Security Opportunities – OneDegree Global’s Event with Insurers in Taiwan2024 is believed to be a remarkable year for the financial and insurance sectors in Taiwan, embracing for revolutionary collaborations and innovations. The Financial Supervisory Commission (FSC) in Taiwan recently approved the first trial application for cooperation between the insurance and telecommunications industries. This marks the beginning of a new chapter in cross-industry collaboration to accelerate the development of digital insurance.
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Press ReleasePress ReleaseOneDegree Group Strengthens Leadership Team with Two Key AppointmentsOneDegree Group made two key appointments on 1 January 2024 highlighting the group’s ambitions following its successful Series B funding which closed in 2023. Michelle Ip has been appointed CEO of OneDegree Global, the group’s technology arm, and Robin Scott has been named General Manager of OneDegree Middle East, the newly established division facilitating the Group’s strategic expansion into the Middle East market.
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InsightInsightNavigating the Transformative Landscape of P&C Insurance in AsiaAccording to a recent report by McKinsey, the P&C insurance landscape in Asia stands at a critical juncture, marked by a slowdown in growth and mounting profitability challenges. However, within this scenario, emerging opportunities from evolving risks, technological advancements like AI, and relatively low insurance penetration rates are evident. Embracing a Dual-Track Strategy: Balancing Innovation and Optimization Insurers eyeing the 2024 landscape must adopt a dual-track approach. This involves exploring new prospects such as electric vehicles and climate risks while simultaneously optimizing core operations. Notably, statistics reveal that EV repairs in Asia take 14% longer and are 25% more expensive than traditional internal combustion engine (ICE) repairs. This emphasizes the need for innovative approaches to address emerging vehicle technologies. Digital Transformation Through Embedded Insurance: A Key Driver of Future Growth Accelerating digital distribution stands as a pivotal strategy. Insurers aim to secure 10% of premiums from embedded insurance by 2030. Moreover, 90% of the embedded insurance will be through key ecosystems. (See Exhibit 1) This shift towards digital platforms marks a strategic move to meet evolving consumer preferences and technological advancements. Exhibit 1 Source: Mckinsey & Company Collaborative Ecosystems: The Path to Agile Operations Partnering across ecosystems and transforming operating models are critical imperatives. Asian insurers need to move at the swift pace set by tech companies to remain competitive. Notably, Asia has encountered 31% of global cyber attacks, emphasizing the need for comprehensive products and robust ecosystem partnerships to combat escalating cyber risks. Read more: OneDegree Global and Microsoft...
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Press ReleasePress ReleaseOneDegree Global and Eazy Digital Forge Strategic Alliance to Drive Efficiencies and Revenue Across Asia’s Insurance SectorOneDegree Global and Eazy Digital unite in a game-changing strategic partnership to revolutionize Asia's insurance industry.
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E-bookE-book[E-book] A CIO’s Guide to Choosing the Right Modern Core Insurance SystemFind out how a modern core insurance system helps insurance CIOs navigate challenges and lead their companies through transformation.
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InsightInsightIXT Innovation Webinar Recap 2A continuation of the IXT Innovation Webinar Recap that discusses how insurers can accelerate product and business innovations with InsurTech.
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InsightInsightIXT Innovation Webinar Recap 1Accelerate new business growth, drive efficiency, and maximize ROI in product innovation and system modernization.