LATEST INTELLIGENCE more accessible and relevant to customers . Singapore , a growing hub for insurtechs , is seeing significant innovation in this space . This includes embedded insurance , which enables insurance offerings to be integrated seamlessly into various non-insurance platforms . Take , embedded protection insurtech firm Cover Genius , which partners with online travel platforms like Booking . com to offer ‘ Cancel-for any-Reason ’ protection . It ’ s a concept that reflects the industry ’ s strategic evolution , where products are easily available for purchase within the context of everyday transactions and services . among customers of traditional banks and digital banks has gone up in the last few years and , digital payments , which accounted for half of the region ’ s total transaction value in 2023 , is expected to reach 66 % by 2030 .
As online and mobile banking grow , customers expect insurers to offer payment options like credit and debit cards , e-wallets , and direct bank transfers . Modernizing payments infrastructure is crucial for a digital-first experience . p
Trend 3
Payments innovation – an important influencer
Southeast Asia ’ s digital economy is booming , with more people adopting digital financial services across insurance , payments , lending , and wealth . App usage
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