15-07-2016, 04:03 PM
The revision, is favorable to insurance sector, but it also opens up opportunities for disrupt-er e.g. fintech startup on insurance services, IMO.
What do you think?
MAS further revises risk-based capital framework governing insurers
SINGAPORE insurers can feel more relieved now that the Monetary Authority of Singapore (MAS) has tweaked the proposed revisions to the framework that sets out capital requirements aimed at enhancing protection of policyholders.
The revised risk-based capital framework, also known as RBC2, will now be more sensitive to insurers' different risk profiles and business activities, thereby more favourable to them.
In turn, policyholders will benefit from better product pricing and asset allocation decisions made by insurers.
The risk of insurers reducing their offerings, specifically participating products that are savings-related such as endowment plans and whole life policies, is also lower.
...
Source: Business Times Breaking News
What do you think?
MAS further revises risk-based capital framework governing insurers
SINGAPORE insurers can feel more relieved now that the Monetary Authority of Singapore (MAS) has tweaked the proposed revisions to the framework that sets out capital requirements aimed at enhancing protection of policyholders.
The revised risk-based capital framework, also known as RBC2, will now be more sensitive to insurers' different risk profiles and business activities, thereby more favourable to them.
In turn, policyholders will benefit from better product pricing and asset allocation decisions made by insurers.
The risk of insurers reducing their offerings, specifically participating products that are savings-related such as endowment plans and whole life policies, is also lower.
...
Source: Business Times Breaking News