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
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- 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