insurtech
Avo Receives First Virtual General Insurer License in Hong Kong
Hong Kong’s Insurance Authority (IA) announced on Tuesday that it has granted the first authorization for virtual general insurance under Fast Track. The license was granted to Avo, a local insurtech company providing products like health and travel insurance.
KPMG: Fintech Funding Fades in 2023
The global fintech market experienced its most challenging year since 2017, with investments dropping to $113.7 billion. Singapore's AI fintech sector saw a 77% increase in funding.
NFTs Get Security Boost with New Warranty Service
Wert and Avata have launched a new nonfungible token (NFT) warranty service, providing coverage for up to 90% of the value of compromised digital assets in a smart contract hack. The service will be available on 80 digital asset marketplaces and will be charged at 6% of the asset cost at checkout. The offering aims to encourage mass adoption of NFTs by reducing risk for both active and prospective collectors.
Hong Kong Monetary Authority Emphasizes AI and DLT in Fintech Roadmap
The Hong Kong Monetary Authority (HKMA) has released a Fintech Promotion Roadmap, aiming to promote fintech adoption in the financial services industry. The roadmap includes key fintech sectors like Wealthtech, Insurtech, and Greentech, and introduces AI and DLT. It aligns with HKMA's "Fintech 2025" strategy.
Oxfam's Blockchain-Based Agricultural Insurance Firms in Sri Lanka Pay Farmers with Crypto
Insurance in the agricultural sector is becoming digitized through blockchain based solutions in Sri Lanka as Oxfam pays farmers in cryptocurrencies
The Singapore Fintech Association: Boosting the Industry with Blockchain Education
Following part one of our interview with the founding president of the Singapore FinTech Association, Chia Hock Lai, we further explored the education initiatives in the blockchain industry in Singapore.