InsurTech

Programme title: InsurTech

Programme Outline:

On the completion of the course, participants will be able to understand:

• The basic concept of InsurTech

• InsurTech Vs. Traditional Insurance

• What is included in InsurTech?

• The advantages of InsurTech

• The disruption of InsurTech to Insurance company

• How does InsurTech benefit its customers

• Understanding Singapore Dynamic InsurTech Map

• What are the key InsurTech startups?

• Understanding InsurTech in the Singapore market

• What is microinsurance? Waves of microinsurance

• Understanding financial inclusion and the role of InsurTech in financial Inclusion

How does InsurTech benefit to consumers

- Personal safety and privacy Using

-Blockchain smart contracts

-AI

-Autonomous driving technologies

to protect consumer identity and coverage of new risks

- Always connected, always protected

Deliver a personalised and tailor-made coverage by engagement through

- IOT

- data analysis

- mobile innovations

- More benefits from sharing economy

Leverage the expertise and scale of strategic partners to anticipate changing consumer behaviours

-

- Additional on demand service

Provide customers with added services through their smart phone

MICROINSURANCE

• Protect low-income people against risk

• Relevant to around 50% of the world’s population

• Up to 80% in some countries

• Introduced in the late 1990s

Role of InsurTech in Financial Inclusion

• Simplify products so that they are easy to understand, enroll in and claim

• Find new distribution channels to connect with low-income customers

• Leverage digital channels and technology innovations to connect and serve low- income customers

• Implement new business models and products to provide risk mitigation solutions