Life Insurance Industry Outlook in Singapore

How Insurtech is Disrupting the Industry

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The ecosystem is expected to experience a paradigm shift with increasing number of insurers looking at digital transformation to stay competitive and to engage customers better by offering more partnerships and collaborations with digital disruptors, relaxed insurance regime, customer-centric product innovations, infrastructure enhancement to reduce paperwork and faster claims turnaround, wearables and healthcare-related initiatives. Top five technology trends include Artificial Intelligence, Machine Learning, IOT, Blockchain, Robo-advisory, Predictive analytics.As of 2016, key drivers that catalyze digital transformation for the Life Insurance Industry in Singapore include and are not limited to the pressure f

Table of Contents

Life Insurance Industry Outlook in SingaporeExecutive SummaryKey FindingsIntroduction to Insurance TechnologyInsurance Technology and its Value ChainValue ChainTechnology Deployment TimelineUse Cases & ApplicationsUse Cases & Applications (continued)Use Cases & Applications (continued)Use Cases & Applications (continued)Map of the MoneyThe Singapore Perspective in FocusMarket PotentialWhat Motivates Insurers to Adopt Technology?What Motivates Insurers to Adopt Technology? (continued)What Makes Insurers Resist Adopt Technology?Rise of Healthcare Spend Despite Slow GDP GrowthSingapore’s Healthcare ReformHow GovTech Makes Technologies AccessibleShift in Customer DemographicsIncreasing CompetitionKey Market PlayersRole of Regulators in the Insurance EcosystemInsurers Ramping Up Digital CapabilityInsurers Ramping Up Digital Capability (continued)Up & Coming Insurtech Companies in SingaporeUp & Coming Insurtech Companies in Singapore (continued)Insurtech Companies that are Gaining Investment MomentumOther Key Market PlayersStrategic Imperatives for Success and GrowthCritical Success FactorsGrowth Opportunity—Artificial Intelligence & Machine LearningGrowth Opportunity—Big Data & AnalyticsGrowth Opportunity—M2M & TelematicsGrowth Opportunity—BlockchainGrowth Opportunity—Connected Health PlatformsForecast & OutlookTrend Forecast for the Next Two YearsAppendixImpact of Technology on the Insurance IndustryKey Economic IndicatorsLegal DisclaimerThe Frost & Sullivan StoryThe Frost & Sullivan StoryValue Proposition—Future of Your Company & CareerGlobal PerspectiveIndustry Convergence360º Research PerspectiveImplementation ExcellenceOur Blue Ocean Strategy


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