360F

Transforming Saudi Arabia: A Glimpse into Vision 2030   Imagine residing in one of the world's most influential economies, with zero income tax and still enjoy social security benefits. Well, that's the reality of 36 million people in Saudi Arabia, the globe's number 1 oil exporter. Recognizing the risks of an oil-dependent economy, the kingdom has embarked on an ambitious journey to diversify its future revenue and financial service system. Five years ago, they introduced the value-added tax (VAT) to fund public services and infrastructure, marking a pivotal shift.   At the core of Vision 2030 is a strategic investment in tourism, sports, and financial services, designed to attract visitors, spur job creation and the long-term dominance of the economy beyond oil. The futuristic city of Neom, powered by renewable energy and artificial intelligence, stands as a testament to the nation's forward-looking vision. Yet, the most impactful change is the transition from a state-led to a market-driven economy. The government is progressively privatizing sectors like healthcare and education, urging citizens to take control of their financial planning and security.   While retail insurance plays a pivotal role in fostering financial independence—a key goal of Vision 2030—it remains underdeveloped. With merely 0.05% of the population having life insurance (compared to the global average of 3.35%), there's vast untapped potential. Motor and Health insurance, constitutes 80% of the total insurance market, most of the business sold are mandatory for all vehicle owners and private sector employees, expatriates, and their dependents. Vision 2030 hints strongly at a cultural shift from mandate towards personal responsibility. It leverages technology to provide financial planning tools, aligning with Islamic principles and Arab values.   360F is super excited to partner with top insurers and banks, contributing to the positive transformations underway in the Kingdom of Saudi Arabia.   #360F #SaudiArabia #Vision2030 #InsurtechInnovation #EconomicTransformation

Celebrating Vietnamese Independence Day at 360F! At 360F, we cherish our diverse and unified team. As we celebrate Vietnam National Day, we honor the rich history and vibrant culture of our Vietnamese colleagues. This day is a testament to the resilience and spirit of the Vietnamese people. We are proud to recognize this important day alongside our global family, underscoring our commitment to celebrating the unique backgrounds and cultures that strengthen our team. Here's to our Vietnamese colleagues and the continued journey of unity and growth! #Togetherness #Diversity #GlobalCulture #360F #VietnamNationalDay #TeamSpirit #GlobalUnity Michael Gerber Anirudh Somani, FIA, MQF Duy Nguyen Thuan Nguyen Khoa Le Chau Dang Toan Tran Bao Quách Cường Truong Dinh MaiLinh Nghiem Saksham Bhardwaj Chenqiao Yin Lily A. Shreyash Agarwal Juliana Zainal Aishwarya Raman Preeti Khemlani

𝐂𝐞𝐥𝐞𝐛𝐫𝐚𝐭𝐢𝐧𝐠 𝐆𝐥𝐨𝐛𝐚𝐥 𝐔𝐧𝐢𝐭𝐲 𝐚𝐭 360𝐅!   At 360F, we pride ourselves on fostering a culture that values togetherness and diversity. As the world grows closer, so do we, embracing and honoring the cultures and traditions of our team members, no matter where they are.   This August, we celebrated not just one, but two significant milestones: Singapore's National Day and India's Independence Day. These occasions remind us of the incredible journey each nation has undergone, marked by the sacrifices of their leaders and the resilience of their people.   During our recent MeetU, we took a moment to honor these remarkable events. We remembered the heroes who shaped the futures of both India and Singapore, and we came together as one global family to wish our colleagues well.   At 360F, we understand that true strength lies in unity. No matter where our team members are in the world, we make it a point to celebrate the important moments in their lives, acknowledging the rich tapestry of cultures that make us who we are. Here's to celebrating how far the world has come, and to the continued journey of unity and growth!   #Togetherness #Diversity #GlobalCulture #360F #SingaporeNationalDay #IndiaIndependenceDay #TeamSpirit #GlobalUnity Michael Gerber, Anirudh Somani, FIA, MQF, Saksham Bhardwaj,Chenqiao Yin, Juliana Zainal, Lily A., Shreyash Agarwal, Shandiya Subramaniam, Aishwarya Shah, Preeti Khemlani,Duy Nguyen, Thuan Nguyen, Bharadwaj Venkateswaran, Khoa Le Chau Dang, Toan Tran Bao,Tự Phan Huy, MaiLinh Nghiem, Quách Cường, Truong Dinh, Tai Nguyen, Thuan Nguyen, Anil Singh.

𝐈𝐬 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞'𝐬 𝐋𝐢𝐟𝐞 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐡𝐫𝐢𝐯𝐢𝐧𝐠 𝐀𝐦𝐢𝐝 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐆𝐫𝐨𝐰𝐭𝐡? Singapore’s life insurance industry has seen remarkable growth, with weighted new business premiums surging by 30.4% in the first half of 2024, totaling S$2.86 billion. This impressive performance reflects the nation's expanding economy, which outpaced expectations in Q2. The demand for both single and annual premium policies has soared, driven by the increasing need for savings and protection. Notably, single-premium policies jumped 32.9%, while annual premiums grew by 29.3%. As the industry continues to thrive, it’s clear that Singaporeans are prioritizing their financial security, with over 71% of residents now covered by Integrated Shield Plans. An impressive S$10.96 billion was paid out to policyholders in just the first half of 2024, with over 90% of claims linked to maturing policies and the remainder towards protection claims. The life insurance sector continues to be a cornerstone in securing the financial future of Singapore’s citizens. But as healthcare costs are projected to rise by 10.7% this year, the industry faces the challenge of balancing accessibility and affordability. How will the industry adapt to ensure sustainable growth while keeping premiums in check? At 360F, we are optimistic about the future of insurance in Singapore, particularly as the industry shifts towards personalization. The next big trend lies in meeting the evolving and personalized demands of customers, ensuring that their needs are not only met but anticipated. https://lnkd.in/g2DpWec8 #SingaporeEconomy #LifeInsurance #FinancialSecurity #EconomicGrowth #InsuranceTrends #HealthCoverage #InsuranceInnovation #WealthProtection #HealthcareCosts #InsuranceIndustry #FutureOfInsurance Michael Gerber, Anirudh Somani, FIA, MQF, ALEX KING, Jonathan Matchett, Simranjit Singh, Jeff Ang, Simon Cooper, Kah Siang Khoo, Hock Seng Khor, Sze Keed Wong, Pearlyn Phau 

360𝐅'𝐬 𝐉𝐨𝐮𝐫𝐧𝐞𝐲 𝐭𝐨 𝐕𝐢𝐞𝐭𝐧𝐚𝐦: 𝐔𝐧𝐢𝐭𝐢𝐧𝐠 𝐓𝐞𝐚𝐦 𝐒𝐩𝐢𝐫𝐢𝐭 𝐓𝐡𝐫𝐨𝐮𝐠𝐡 𝐀𝐝𝐯𝐞𝐧𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧! During our most recent business trip, we discovered that the path to solidarity is just as pleasant as the destination itself. The economic centre of Vietnam is Ho Chi Minh City, originally known as Saigon. It is a hive of activity, innovation, and traffic—lots of traffic. Every encounter, from off-site meetings to recreational pursuits like axe throwing and culinary workshops, has strengthened our links and stoked our shared enthusiasm. As a team, we have been genuinely enhanced by the smiles, obstacles surmounted, and fresh insights obtained. At 360F, we firmly believe that keeping a healthy life outside of work and encouraging camaraderie among our colleagues are important. We have had an amazing experience with lots of love, fun, and excitement from our fellow co-workers during our stay in Vietnam. Stay tuned as we prepare to share a series of captivating posts brimming with fresh insights! Michael Gerber, Anirudh Somani, FIA, MQF, Saksham Bhardwaj, Chenqiao Yin, Juliana Zainal,Lily A.,Shreyash Agarwal, Shandiya Subramaniam , Aishwarya Shah, Duy Nguyen, Thuan Nguyen,Bharadwaj Venkateswaran,Khoa Le Chau Dang, Toan Tran Bao, Tự Phan Huy, MaiLinh Nghiem,Quách Cường, Truong Dinh,preeti khemlani, Tai Nguyen, Thuan, Anil Singh, Jackson Oh

𝐇𝐨𝐰 𝐢𝐬 𝐎𝐩𝐞𝐧 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐢𝐧𝐠 𝐭𝐡𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲? Open Insurance is revolutionizing the insurance sector by enabling secure data sharing among insurers, third-party providers, and consumers. Imagine having an insurance policy that is not just a contract but a dynamic, personalized product tailored to your unique needs—this is the future that Open Insurance promise By offering a comprehensive view of risk profiles, this innovative approach transforms customer experiences and enables insurers to craft highly personalized products. Driven by open APIs, it empowers insurers to develop groundbreaking solutions that enhance efficiency and foster creativity across the industry. At its core, this advancement promotes transparency and trust. By giving consumers control over their data, it builds a transparent and trusting relationship between insurers and customers. A recent report by Arthur D. Little. Little reveals that 63% of insurance executives see this approach as a key driver of industry growth in the next five years. Additionally, it predicts that it could reduce insurance processing costs by 20% by 2030, revolutionizing efficiency and cost-effectiveness in the sector. Globally, we see compelling examples of Open Insurance in action. In Singapore, government API integrations like SGFinDex—with over 30,000 monthly active users and nearly 1.2 million data retrievals—demonstrate its potential. AI-driven analytics in Singapore facilitate a seamless, three-click insurance purchase journey, revolutionizing the customer experience. Similarly, in Saudi Arabia, the Saudi Data and Artificial Intelligence Authority (SDAIA) has integrated over 1,000 governmental APIs, streamlining the insurance process with rapid, AI-driven underwriting and policy issuance.   Share your thoughts in the comments below! Let’s discuss how this innovation can shape the future of insurance. The open insurance conundrum: Bridging innovation & reality | Arthur D. Little (adlittle.com) #InsurTech #Innovation #InsuranceIndustry #DigitalTransformation #DataSecurity Michael Gerber, Anirudh Somani, FIA, MQF,., Saksham Bhardwaj, Jonathan Matchett, ALEX KING, Andreas Buelow, Arjun Vir Singh, jean-francois Gasc, Arthur Davis, Ronald Engel, Mohammed Basrawi, Mohammed Al Shobani, Tal Hisham Nazer, Akram Moussa, Varun Mittal 海王-米塔尔, Prakash Somosundram, Neal Cross, Aman Narain, Jonathan Swift, Matteo Carbone , Spiros Margaris, George Kesselman, Manisha Seewal

𝐔𝐧𝐥𝐨𝐜𝐤𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡: 𝐇𝐨𝐰 𝐌𝐚𝐫𝐤𝐞𝐭 𝐋𝐞𝐚𝐝𝐞𝐫𝐬 𝐀𝐫𝐞 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐢𝐧𝐠 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝'𝐬 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐒𝐞𝐜𝐭𝐨𝐫   Since interest rates began to fall after 2014, the Thai insurance sector has struggled with spread-based products that have failed to keep up. Nearly a decade later, the industry still faces challenges. What’s holding Thai insurers back?   We explored the financial landscape of Thai insurance companies, focusing on two crucial metrics: Year-to-Date (YTD) Growth and Rolling 12 Month Annualized Premium Equivalent (APE) Growth. Here’s what we discovered:   In the competitive Thai insurance market, AIA and FWD Thailand are paving the way with distinct strategies and impressive results. FWD Thailand is redefining insurance with a customer-centric approach focused on simplicity, transparency, and technology. Their "Celebrate Living" campaign showcases this innovative strategy, emphasizing clear communication and accessible services. Additionally, FWD's strong presence in bancassurance and agency channels has driven an 18% rolling 12-month annualized premium equivalent (APE) growth.   AIA Thailand, on the other hand, dominates the market with a 25.64% market share and a network of over 50,000 agents. In 2023, AIA achieved a 21% increase in the value of new business, reaching approximately $720 million. AIA's financial strength is further reflected in its positive growth in key metrics such as Value of New Business (VONB) and Operating Profit After Tax (OPAT), demonstrating robust performance .   AIA leverages its market position and financial strength, while FWD focuses on customer-centric innovation and effective distribution. Both companies exemplify market leadership and continue to shape the future of insurance in Thailand.   Nine other companies shine brightly, each holding more than 2.5% of the market share. Yet, there are 19 companies fighting an uphill battle.   At 360F, we recognize immense potential within the Thailand market and possess the expertise to spearhead transformation in the Thai insurance sector towards a prosperous future! https://lnkd.in/g7XKtFEB #Insurance #Insurtech #MarketAnalysis #GrowthStrategy #Leadership #Innovation #ThaiInsuranceMarket" #DigitalTransformation #CustomerExperience #BusinessStrategy #FinancialServices #TechnologyInnovation #EmergingMarkets   Michael Gerber, Anirudh Somani, FIA, MQF, Huynh Thanh Phong, Nikhil Advani, Jonathan H, Mike Plaxton, Thomas Wilson, Dr. Christian Roland, Angela Hunter (GAICD), Anil Wadhwani, Bundit Kenny Jiamanukoonkit, Leslie Wee

𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐏𝐫𝐞𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬: 𝐀 360𝐅 𝐏𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞 In the insurance sector, the pursuit of peace of mind is closely intertwined with diverse individual preferences and priorities. This landscape is a mosaic of needs, encompassing budget considerations and a desire for seamless experiences. For some consumers, affordability and efficiency are paramount. These cost-conscious individuals seek out aggregators for quick solutions at competitive rates. Conversely, there is a segment that prioritizes simplicity and convenience. AppleCare+ exemplifies this approach, setting a high standard for customer-centric insurance offerings. At 360F, we lead the way in understanding these nuanced preferences. Utilizing advanced AI-driven customer profiling, we decode the intricate tapestry of consumer desires and tailor solutions accordingly. Whether delivering cost-effective options or seamlessly integrating value-added propositions, our objective is clear: to provide bespoke peace of mind. Join us in exploring the dynamic landscape of insurance, where personalization is essential and customer experience is paramount. https://lnkd.in/gw9CJ5T7 #Insurtech #FinancialServices #RiskManagement #InsuranceInnovation #TechInInsurance #CustomerCentric #AIinInsurance #FutureOfInsurance #InsuranceSolutions #PersonalizedInsurance #InsuranceTrends #PolicyholderExperience #InsuranceCoverag #InsuranceProtection Michael Gerber, Anirudh Somani, FIA, MQF, Abbie Oliver, Brad Fancher, Tony Cañas, CPCU, MBA, AU, ARM, ARe, AIC, AIS, Kim Beach, Dustyne Bryant, MBA, CIC, CISR , Regina Wiedmann, Clemens Philippi, Benjamin Ang - Insurance Industry Speaker and Advocate, Andrew Yeo

𝐂𝐞𝐥𝐞𝐛𝐫𝐚𝐭𝐢𝐧𝐠 𝐓𝐞𝐚𝐦 𝐒𝐩𝐢𝐫𝐢𝐭: 𝐎𝐮𝐫 𝐄𝐦𝐩𝐥𝐨𝐲𝐞𝐞-𝐂𝐞𝐧𝐭𝐫𝐢𝐜 𝐂𝐮𝐥𝐭𝐮𝐫𝐞 Moments like these are invaluable, revealing the hidden humor, creativity, and life experiences of our amazing team members. This is the essence of our start-up culture—investing in our people, growing together, and thriving on the balance between dedication and joy. At 360F, the well-being and interests of our employees are our top priority. We cultivate a relaxed work environment and continuously implement improvements to enhance our team's experience. #360F #TeamBonding #WorkCulture #TeamWork #FunAtWork #CompanyCulture #EmployeesFirst #TogetherWeThrive

At 360F, we're excited to be part of this evolving landscape. By enhancing customer experiences and strengthening distribution channels, we are dedicated to fostering accessible and sustainable growth in Vietnam. #VietnamEconomy #InsuranceMarket #DigitalTransformation #FinancialTechnology #CustomerExperience #MarketDynamics #Insurtech #Fintech #VietnameseMarket Michael Gerber, Anirudh Somani, FIA, MQF, Son Tran (Sonny), Lay Hoon Tan 陈丽芬, Duy Nguyen, Saksham Bhardwaj, MaiLinh Nghiem, Murari K., Jeffery Tan, Khue Dinh, Henry Nguyen, Amita Chaudhury, Mukesh Pilania