AIA Hong Kong has launched a COVID-19 alert service through its AIA Connect mobile app. This allows registered users (both customers and non-customers of the insurer) to receive alerts regarding COVID-19 cases in different districts throughout Hong Kong.
Lloyd’s is shutting its London underwriting room at 1 Lime Street for one day for a contingency planning exercise in response to the coronavirus outbreak.
In celebration of International Women’s Day last weekend, United Overseas Bank (UOB) and Prudential Singapore launched a savings product for women in Singapore that combines a savings account with complimentary medical insurance for six female-related cancers.
Medical experts have been hard at work to find a cure for COVID-19, with dozens of studies underway in several countries. In some cases, clinical trials have been performed to test possible solutions on patients in China and the US.
Global insurance brokers Aon and Willis Towers Watson announced a definitive agreement to combine in an all-stock transaction with an implied combined equity value of approximately $80 billion.
High premiums, a lack of understanding of insurance and distrust are major barriers hindering the sale of insurance products in China despite the rapid growth of its online insurance sector.
China has reduced several pension and insurance fees in order to help businesses cope with the coronavirus (COVID-19) outbreak.
Losses to event cancellation insurers are already likely to be more than $100m, although not all event organisers buy epidemic cover, reported Reuters, citing Mr Tim Thornhill, director, sales in entertainment and sport at Lloyd's of London broker Tysers.
Outside of mainland China and the ill-fated cruise ship, Singapore and Hong Kong have the highest incidence of coronavirus infections. Singapore had 50 confirmed cases and Hong Kong 50 confirmed cases and one death at time of writing.
Amidst all the mass hysteria surrounding the coronavirus outbreak, people in affected Asian countries seem to be avoiding face-to-face interactions and staying indoors as much as possible. This has led to many venturing online to seek services from digital insurers and telehealth service providers.