The APAC opportunity for Insurtechs

Asia-Pacific's private insurance technology landscape may be dotted with several unconventional startups seeking to unseat incumbents, but venture capitalists will gravitate toward less disruptive and more collaborative technology startups. S&P Global Market Intelligence data shows at least 335 private insurtechs operating in Asia-Pacific, with about 122 of them disclosing $3.66 billion in aggregate capital raised via private placement deals. China and India are collectively home to nearly half of private insurtech companies in the APAC region. The two markets will continue to corner the lion's share of investor interest, thanks to their large and fast-growing insurance markets. Discussion points: The APAC region, with most of its insurtechs complementing existing carriers, presents a contrast to the U.S., where private capital is skewed toward full-stack companies looking to disrupt the incumbents. Insurers in APAC – which is the world’s largest life insurance market and the second-largest general insurance market – have much to do, particularly when it comes to using technology to improve product design, product delivery and customer service. So what insurers in the APAC are doing  to build technology leadership through it products and processes. This also demonstrates examples from Singlife Philippines. Are insurers understanding the shift in consumer demands better than the west? And can a better use of data facilitate the change in the insurance industry in APAC. Speaker Bio: Zayd Tolentino. He is the Chief Technology Officer at Singlife Philippines. Zayd is a Technology Evangelist specializing in Cloud, API, Big Data Analytics, and FinTech. As Chief Technology Officer of Singlife Philippines, he leads a team of experts in the successful integration of insurance technologies to offer customers meaningful protection products in a fully digital environment. Prior to joining Singlife, Zayd has worked with several companies including Globe Telecom and QuadX as a senior leader for systems engineering, digital innovations, and data protection, among others. He is also an entrepreneur involved in several startup initiatives focused on emerging technologies.