Product Trends


North Asia


Market Trends & Innovation

AXA Health and Start-Up Launch First Medical Insurance App in China. Life Insurance International, October 31, 2016.

AXA Health and the mobile health startup The CareVoice have jointly launched a medical and health insurance app for AXA’s high-net-worth medical insurance customers. Customers can access information about their insurance benefit, treatment and claims, make appointments directly with network hospitals and access the latest health information.

Hong Kong

Life & Health

MetLife Hong Kong Launches Unique Overseas Medical Treatment Insurance Plan. BusinessWire, November 15, 2016.

The plan, Metlife Borderless Best-in Health Benefit, provides extensive coverage and access to overseas medical treatment. Payout maximums are HK$32 million (US$4 million) for the VIP Plan Level and HK$16 million (US$2 million) for the Standard Plan Level.

AIA Hong Kong Launches New “FlexiWays Rider”. Press Release, October 20, 2016.

The FlexiWays Rider, which is designed for AIA’s Bonus Power Plan product, is a new guarantee issue protection rider that offers two-stage protection: Accidental Death Benefit prior to retirement, and three lifetime benefit options for customers upon retirement (Long Term Care / Hospital Care/ Extra Life).


Manulife Acquires Standard Chartered’s Mandatory Provident Fund (MPF) Business. Asia Asset Management, November 18, 2016.

The 15-year exclusive Mandatory Provident Fund (MPF) distribution partnership, which launched November 2016, allows Manulife to distribute its products to Standard Chartered customers. Standard Charter has 90 branches in Hong Kong and over 1.2 million retail clients.


Life & Health

BNP Paribas Japan Launches a Spousal Cancer Advanced Medical Rider Attached to Mortgage Loan. Press Release, November 30, 2016.

The Advanced Medical Rider offers a benefit of 5 million yen per treatment and up to 10 million yen in total for a spouse who needs advanced medical treatment due to cancer. (Text in Japanese)

Lifenet Starts Sales of “au Life Insurance” With Refunds. Press Release, November 24, 2016.

Lifenet’s “Au Life Insurance” policyholders, who are also users of au mobile phones, are eligible for monthly refunds of 200 yen for up to 60 months. This is the first instance of policyholders been given refunds of their insurance premiums if they also have a telecommunication contract. (Text in Japanese)

Medicare Life Launches Whole Life Medical Insurance (WOL) No Cash Surrender Value Type with Health Bonus. Press Release, November 24, 2016.

The WOL has an issue age of 0-60 years. It includes a hospitalization benefit of 3,000 – 20,000 yen per day for up to 60 days per hospitalization. It also includes a surgery benefit, a radiation therapy/bone marrow implant benefit, and a health bonus benefit. (Text in Japanese)

Tokio Marine Nichido Launches Fertility Treatment Insurance. Press Release, November 1, 2016.

Fertility treatment insurance is offered as a corporate policy to a company or health insurance society. Both employees and their spouses are covered. In-vitro fertilization and micro fertilization are covered. Lump sum benefit is also paid for more than 30-day hospitalization due to illness related to pregnancy. (Text in Japanese)


NN Life Japan and Sumitomo Life to Collaborate in Japan. Press Release, October 5, 2016.

Sumitomo’s 30,000 tied agents will sell NN’s Corporate-Owned Life Insurance (COLI) products from its 1,400 branch offices to small and medium-sized enterprises (SMEs), starting in April 2017.

Furniture, Home Appliance Stores Sell Insurance in Japan. The Korea EconomicDaily, October 4, 2016.

Mobile carrier NTT DoCoMo is selling insurance products through its stores in Tokyo and other cities, offering about 30 different products from nine different insurers. Furniture store Nitori Holdings, meanwhile, now offers insurance from Nippon Life in five of its stores, on the judgment that most shoppers in furniture stores are preparing for a wedding or childbirth and need insurance.

Market Trends & Innovation

Japanese Insurer to Offer Coverage for Losses at Bitcoin Exchanges. Nikkei Report, November 24, 2016.

Mitsui Sumitomo Insurance will launch an insurance product specifically designed to cover losses and damages at bitcoin exchanges. The product will protect both exchanges and customers. Total coverage, which ranges from 10 million yen to 1 billion yen, is against damages and losses from cyber attacks and from employee errors.

Cyberdyne's HAL Robot Suit to Lead ”Insurance Revolution”. Nikkei Asian Review, November 22, 2016.

Cyberdyne has developed a robotic suit HAL (hybrid assistive limb). AIG’s Japanese unit will team up with Cyberdyne to develop new insurance products using HAL. It also teamed up with Daido Life Insurance to develop a health insurance product that will use HAL for physical therapy.

Taiyo’s “Life First” Dementia Prevention Smartphone Application. Press Release, October 20, 2016.

The smartphone app continuously measures walking speed and informs the insured and his/her family once signs of dementia / mild cognitive impairment risk are detected. The app is designed for those over 70 years of age. (Text in Japanese)

South Korea

Life & Health

Allianz Life Korea Launches New Diabetes-Focused Insurance Product. Korea Times, December 27, 2016.

Allianz has introduced a new health product offering with unique coverage for diabetes and three related diseases. Approximately 5% of all Koreans have diabetes.

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Southeast Asia



LIC Opens Bangladesh Unit. Star Business, October 19, 2016.

LIC, India’s largest insurer, has formed a venture with Strategic Equity Management and Mutual Trust Bank to facilitate its expansion into Bangladesh. So far, LIC has introduced five insurance schemes in Bangladesh, and plans for more.



Insurers Upbeat About Bancassurance Model. Asia Insurance Review, November 8, 2016.

Although bancassurance is still relatively undeveloped in Cambodia, its growing middle class means it has huge potential to drive growth in the insurance sector. At present, banks can only refer interested clients to insurers in exchange for referral fees.


Life & Health

Liberty Videocon Launches ”Health Connect Supra”. Afternoon Dispatch, December 23, 2016.

Health Connect Supra offers a top-up plan and a super top-up plan that provides additional coverage of up to Rs. 1 crore for a customer’s basic health insurance plan. It also offers emergency cover worldwide, cover for Ayurvedic treatment, and wellness assistance cover for payment of additional premium.

Bajaj Allianz Launches “eTouch,” Its First Online Term Plan. The Economic Times, December 15, 2016.

eTouch is an online term plan which has four levels, Shield, Shield Plus, Shield Super, and Shield Supreme. In addition to life cover, accidental death, accidental total permanent disability and 34 critical illnesses are covered until age 75.

Aviva Life Launches Heart Insurance for Couples. The Times of India, December 7, 2016.

Aviva Heart Care covers 19 cardiovascular conditions, and can become a joint policy for a nominal extra premium. Heart disease is among the fastest-growing chronic illnesses in India. The policy ranges from 10-25 years, with the maximum sum assured of 50 lakh per life.

IDBI Federal Life Launches iSurance Flexi Term Insurance Plan. Business Standard, November 28, 2016.

iSurance Flexi Term Insurance Plan is available up to 80 years of age. It offers multiple choices, such as a conversion option in the event of a critical illness.

OCARE Launches Dental Insurance Product. India Infoline News Service, October 27, 2016.

OCARE, the first (and so far only) independent insurance Process as a Service (PAAS) entity, has launched a group dental insurance plan. It covers existing conditions with no waiting period. Minimum sum assured is Rs 25,000 per annum, per person.

Tata AIA Launches Bouquet of Protection Solutions. Business Standard, October 17, 2016.

The three protection products are Tata AIA Life Sampoorna Raksha, a non-linked non-participating term assurance plan, Tata AIA Life Sampoorna Raksha+, a non-linked non-participating term assurance plan with return of premium on maturity, and Tata AIA Life Vital Care Pro, a non-linked non-participating health insurance plan. All three solutions offer a lump sum benefit option.

Religare Health Insurance Launches ”Care” Health Insurance Plan. India Infoline News Service, October 17, 2016.

A new version of ”Care” Health Insurance Plan includes improvements, such as the Care Anywhere Benefit now which covers 12 critical illnesses, a sum insured options of INR 75 lakhs, and in-built maternity cover of up to INR 1 lakh. The list of Day Care Medical Procedures has also been increased, from 175 to 541.

Cigna TTK Launches “Get ProActiv India”. Press Release, October 5, 2016.

“Get ProActiv India” is a unique program designed to encourage and reward people who lead a healthy and physically fit life. The Get ProActiv App is available on Android and iOS platforms. Customers can integrate their tracking devices and earn Healthy Rewards points for various physical activities, which can be redeemed to reduce their health insurance premiums or to claim Health Maintenance Benefits.

Aegon Life Insurance Relaunches ”iTerm”. Press Release, October 6, 2016.

iTerm now allows the protection cover to be increased to align with major life milestones. Premiums can now paid on a monthly, half yearly or annual basis, and the death benefit payout can be taken as a lump-sum payment, as a fixed monthly income, or a combination of the two.

Exide Life Insurance Launches Cover for Heart and Cancer. The Economic Times, October 6, 2016.

Exide Life Sanjeevani is a fixed lump sum benefit health insurance solution that offers comprehensive coverage against heart and cancer conditions. Payouts can be made at various stages of the conditions.

Savings & Retirement

Canara HSBC OBC Life Insurance Launches Platinum Plus Plan. India Infoline News Service, November 7, 2016.

Platinum Plus Plan is a unit-linked protection product designed for high net worth individuals. The customer can design an investment portfolio with up to six unit-linked funds, ranging in equity exposure. The plan also offers flexibility in premium payment, for a limited period or for the entire length of the policy.

Market Trends & Innovation

PNB MetLife Launches conVRse, First-Ever On-Demand Virtual Reality Customer Service Platform in India. BusinessWire, December 19, 2016.

Thison-demand virtual reality (VR) customer service platform, built by MetLife’s Singapore-based innovation center and PNB MetLife, aims to provide customers with an immersive, personalized experience. The customer enters a 3D simulated environment and interacts with Khushi, an avatar and life insurance expert. It will initially be available at 15 branches in 10 cities throughout India.

PNB MetLife Claims 30,000+ Downloads for PNB MetLife Infinity App in Under 30 Days. Dataquest, November 30, 2016.

PNB Metlife Infinity App provides a secure platform for customers to save all their important documents such as a marriage certificates, wills, health records, passports, insurance policies and the like in a secure digital hub.



Allianz and Maybank Enter 10-Year Bancassurance Deal. Asia Insurance Review, October 2016.

The deal will deliver Allianz’s comprehensive life and health solutions to more than four million Maybank customers. Three new products are immediately available. They include a Shariah-compliant unit-linked life insurance product, a protection-cum-investment life product, and a single-premium investment product.

Market Trends & Innovation

Allianz Life Eyes Low-Income Segment with New Microinsurance Product. The Jakarta Post, November 1, 2016.

Asuransi Allianz Life Indonesia has introduced Sekoci, a new microinsurance product that allows customers to pay their premiums via their mobile phones’ money-transfer service.


Life & Health

CIMB-Sun Life Malaysia Targets RM100m in Premiums from New Insurance Product in 2017. The Sun, November 18, 2016.

Sun Wealth, a new insurance product developed by Sun Life Malaysia, offers flexible premium payment terms where customers can choose from three, five or eight year terms. The plan offers easy enrollment and no underwriting or medical check-up is required.

Prudential Launches Malaysia's First Insurance Plan for Couples. Smart Investor, November 10, 2016.

PRULife Partner is an investment-linked life insurance policy which covers two lives under one policy. The policy has a no-lapse feature where the maturity age can be 60, 70 or 80. Its  lifestage multiplier benefit lets couples increase their protection by 20% up to five times for major life events, or on a preset schedule. The product can either be bought jointly by a couple or by an individual who can then add a spouse later.


Life & Health

Pru Life UK Launches New Product to Close Philippines Protection Gap. Sun Star Cebu, November 7, 2016.

Prumax Invest is a 15-year renewable term plan with comprehensive protection coverage that integrates traditional and unit-linked life insurance products.

Savings & Retirement

Philam Life Rolls Out Safe Educational Plan. Press Release. September 13, 2016.

Philam Life Future Scholar is an investment and life insurance plan that provides long-term growth and guaranteed education benefits.


UCPB Cleared to Enter Bancassurance Business. The Philippine Star, November 10, 2016.

United Coconut Planters Bank (UCPB), one of the largest banks in the Philippines, can now cross-sell insurance products through its branches nationwide. Initial insurance partners include Cocolife and UCPB General Insurance.


Life & Health

New Senior Disease Insurance Plan, Silver Secure. Press Release. November 9, 2016.

NTUC Income, Singapore’s insurance cooperative, has launched Silver Secure, a new insurance plan that provides payout until age 100 and covers eight diseases most likely to affect seniors in the future. The diseases covered fall, for the most part, under movement, sensory and urinary disorders.

New Insurance Plans for Females. January 10, 2017.

In October of 2016 NTUC Income launched two new insurance plans for women. Lady 360 is a comprehensive, non-participating, regular premium protection plan covering women ages 15-59 female-specific illnesses and surgeries as well as post-diagnostic support and biennial health screening. Maternity 360 covers expectant mothers ages 17 to 44 who are between 13 and 35 weeks pregnant and are experiencing pregnancy complications.

FWD Launches Singapore’s Simplest Online Life Insurance Policy. Press Release, September 30, 2016.

FWD has launched a direct term life product which enables customers to select cover online and receive a quote in less than 60 seconds. The policies are available in five-year renewable, 20-year and up to age 65 terms.


Life & Health

Manulife Vietnam Launches "Gift of Health". Vietnam News Summary, December 12, 2016.

Manulife Vietnam has launched "Gift of Health, a YRT medical insurance rider which can be added to most main products to provide coverage around the world.

Savings & Retirement

Chubb Life Insurance Vietnam Offers Universal Future Asset Management. Vietnam News, December 10, 2016.

This long-term wealth accumulation and financial planning tool offers special bonus options to eligible customers. There is no allocation charge for the main policyholder, and customers are eligible for special bonuses added to their policy account values.

Generali Vietnam has launched Vita – Golden Health, an insurance product with competitive rates and many benefits. Press Release, November 16, 2016 (Text in Vietnamese)

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Australia & New Zealand

Life & Health

Sovereign Announces Health Insurance Enhancements., December 7, 2016.
The enhancements include a range of increased benefits including access to unlimited surgical cover, extended cancer, care treatment anywhere in the world, dental support and minor surgery cover.


Challenger Annuities Added to AMP, Mitsui Sumitomo Primary Life Platforms. Investor Daily, October 27, 2016.

Challenger will provide a full range of its annuity products through AMP’s investment administration platform as well as MS Primary’s platform.

MLC Life Insurance Partners with National Australia Bank (NAB) to Offer Simple Life Protection for Customers Nationwide. Professional Planner, October 20, 2016.

NAB Essential Life will now be available online, over the phone and through NAB’s 760 branches across Australia. Customers will be able to apply for cover through an easy and speedy application process.

Market Trends & Innovation

Robots Become a Reality as Insurance Australia Group Takes First Step in Digital Direction. ARN, December 11, 2016.

A number of the organization’s 10,000-strong workforce will be replaced by robots as new and emerging technologies drive directional changes of the multinational.

Youi Launches Industry-First Rewards App. Sunshine Coast Daily, November 16, 2016.

Youi dollars are part of the Youi rewards program for policyholders and can be exchanged for rewards instantaneously. The program is designed to reward loyal customers with savings on everyday items such as food and clothing as well as entertainment, leisure and dining experiences.

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