Insurance is one of those necessary, but dull, topics. It is often an add-on after purchasing something expensive or a way to protect the value of a precious item. Taking out an insurance policy is considered ponderous and time-consuming, but for something so mundane, it can be unnecessarily complicated. And it really doesn’t need to […]
Businesses are all pushing towards digitalisation, the insurance industry is no different. Are Singaporeans keen to purchase the more complex or complicated insurance policies via an app-model? And what should consumers look out for when buying insurance online? In the Spotlight on Prime Time, Bharati Jagdish speaks with Stephan Kaiser, Chief Executive Officer of KoverNow, […]
Let’s face it, when it comes to jewellery, a precious item can constitute an engagement ring or a jade bangle. So much about the jewellery that we love is to do with who gave it to us, what it signifies, or how much we admired it when we spotted it in the shop window. So […]
An article in the Singapore Straits Times from last weekend caught my eye. It was entitled ‘Time to look at collectibles amid inflation’ and outlined the relative benefits of investing in luxury items such as Rolex or Cartier watches, Bordeaux and Burgundy fine wines and Chanel handbags, except for the wine, things we maintain data […]
Before you even begin to think about insuring your most precious items, it is essential to have an idea of their value. In fact, some policies insist on a reliable valuation before they will provide cover. Of course prices for items such as cameras, luxury goods and jewellery fluctuate, so it can be challenging to […]
The shift towards mobile apps to cover all the bases in our everyday lives, from health and fitness trackers and shopping to movie streaming and banking, is an unstoppable, albeit very welcome force. Smartphones are nothing without the ability to dip into an app-store, browse for a while, and download a new tool or something […]
Mobile phones became ubiquitous because of their ability to keep us connected wherever we happened to be. Mobile apps, however, have made our devices an intrinsic, essential part of our everyday lives, tools that, for most of us, would be difficult to live without. It’s no surprise that in 2021, therefore, the number of mobile […]
Millennials are still making their way into the workforce and their influence has changed how we communicate and even how businesses are run. But before we get too complacent about how we’ve embraced a new way of doing things, it’s worth remembering that the Generation Z cohort is snapping at the heels of Millennials. In […]
Perhaps 2022 will be the year in which the Asian insurance market overhauls its long-established, risk-based model for developing new products and instead embraces an approach which puts the customer at its core. According to McKinsey: ‘Effective product innovation is tied to a deep understanding of customers’ emotional and practical needs and wants, paired with the […]
Almost everything we buy is available through our smartphones these days from clothes and furniture to food and cars. There is one notable exception – insurance. When was the last time you bought an insurance policy on your phone? Insurance of any kind is still primarily sold to us, by agents or brokers, and in a traditional […]
KoverNow Survey of Millennials Shows Inclination To Purchase Insurance Via a Mobile App or App-based Products and Services
KoverNow, an insurtech start-up company based in Singapore, offering mobile consumer insurance services via its app, has released new research into millennial purchasing and risk attitudes to insurance.
This paper summarizes the problems, solutions and technologies employed in developing a highly personalized digital insurance solution for individual assets, and considers the outlook for commercialising the product. Download the whitepaper here.
In a recent trawl of my inbox, my eye was drawn to a recent McKinsey report: Redrawing Asia’s consumer map . The research gave me an opportunity to check whether our vision for KoverNow – to create a consumer-focused insurance platform for Southeast Asia – is on the right track. (And I couldn’t help thinking the report’s […]