The COVID-19 outbreak has changed the way we live and work, and many businesses have been forced to pivot to virtual modes and processes. This has prompted many insurers to explore new technologies and partner with insurtechs to accelerate their digital roadmaps, bringing to consumers a digitalised journey. The insurance industry is rapidly speeding up its digital transformation agendas and Singapore is becoming the epicenter of insurance innovation.
The world we live in has evolved. There has been tremendous growth in the insurtech space. In 2020, insurtech investments grew phenomenally with major fundraising rounds from digital insurance companies and brokers all riding on the trend of being a digital-focused brand to create better customer experiences throughout the purchase to claim journey. Insurtech investments in Singapore quadrupled from $35m to $128m, and Singapore is becoming the leading regional hub due to the government's support and strong collaboration between institutions, private sectors, and industry organizations. There is rapid development in new insurance products across the distribution channels supported by Singapore’s pool of internet ecosystems, expertise, and talent.
Singapore is considered to be one of the best countries in the world to launch and grow tech start-ups, welcoming many innovative insurtechs and fostering collaboration with the insurance industry. Besides being home to many leading insurtechs, committed investors and major insurance and broking companies, Singapore is also home to InsureTech Connect Asia - the first physical and digital insurtech event in APAC since the pandemic.
Hosted by our community partner, this is the largest insurtech gathering of insurance industry executives, investors, and start-ups from across the Asia Pacific Region happens 16 - 17 June 2021 at InsureTech Connect Asia 2021. Attendees will have the opportunity to connect and explore partnerships, gain visibility into companies across the full range of stages and strategies, meet with thought leaders who shape the insurance industry and get insights across all major categories, including P&C, Life, Health, Small Business, and Specialty.
ITC Asia will be presented in both physical and digital formats and is designed to allow for both in-person and online attendee participation and networking to foster meaningful connections. Digital attendees will also get access to onsite live stream sessions and on-demand content.
Visit F10's very own virtual booth during the event and listen in to an insightful panel discussion on startup scalability - the keys to regional expansion, which will be moderated by the Head of F10 Singapore, Jonas Thürig.
Register for ITC Asia 2021 here and get 10% off your tickets when you use the promo code - F10-10