Allianz launches digital innovation lab in Singapore

THE traditional role of insurance, where customers go to their insurers when “bad stuff happen”, could soon be disrupted, with the industry looking towards leveraging data science and digital innovation to educate and motivate their customers to have lower risk profiles instead. That is according to global insurance giant Allianz, which launched its regional digital innovation lab – called the Asia Lab – on Wednesday. Established with support from the Monetary Authority of Singapore, the lab will “work closely with and invest in Asian startups to incubate and develop market concepts and prototypes”, Allianz said. “We want people to not only be able to rely on us when bad stuff happens, but to also be able to work with us to make their lives better, and be rewarded in the…


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