Our analysts highlight the top 10 innovative insurance products for the Asia Pacific. These are innovations that use new or more effective ways to increase customers' acceptance or use of insurance products and services.

1. Runescape Games and AXA Insurance

In November 2017, Runescape Games and AXA Insurance are launching their first in-game insurance offering in South Africa. Runescape Games is one of the world's largest multiplayer online role-playing games with millions of active players each day, and the new insurance product enables Runescape players to purchase fire and pet insurance and financial aid to finance repairs and damage costs, including medical care and accommodation.

2. AKM Accessories and Bloom Umbrella

In November 2017, AKM Accessories and Bloom Umbrella announced their collaboration. AKM Accessories provides utility and security accessories for homes and offices, while Bloom Umbrella offers a wide range of umbrellas for outdoor use. The umbrella is made from all recycled materials, has a corrosion-resistant, non-toxic finish, and can be fully customized to its owner. The unique combination of AKM and Bloom umbrellas is the first of its kind to be available in Cambodia.

3. Leap Insurance

In November 2017, Leap Insurance was launched by Chilean company, RiskTab, and Silicon Valley company, Paltalk, with a mission to empower users to be proactive about their personal health by having the right health insurance at their fingertips. Leap offers no-frills health insurance that includes prescription and dental plans. As an example of the opportunity that still exists in the local insurance market, Leap is available for $8 per month.

4. Couhil Trust

In October 2017, the Thai company, Couhil Trust, launched a range of annuity and insurance products to meet the investment and protection needs of entrepreneurs and other professionals, including financial professionals, private and public sector employees, and the self-employed.

5. Klick

In October 2017, Klick Insurance was launched by the Solomon Group and Lottomatica. Klick offers insurance products that manage the risk of many types of physical and digital accidents and protects the value of content, devices, and equipment against loss, theft, and damage.

6. Kiwi Insurance

In November 2017, Kiwi Insurance was launched by New Zealand insurance company, ASB, and Swiss insurance company, AXA. Kiwi is the new brand for a portfolio of insurance products that includes vehicle cover, motorcycle cover, household contents, and travel insurance.

7. MovePay

In November 2017, MovePay announced the expansion of its digital wallet to Canada. Move Pay is a US-based fintech start-up founded by Antoine S. Akbar in 2012. It allows consumers to pay for goods and services by credit card, Paypal, Stripe, Apple Pay, and Google Wallet on their mobile phones and tablets.

8. Travelist

In November 2017, Travelist, a South Korean hotel search app, entered the Singapore market with the launch of "Travelist Rate", a hotel discovery platform in Singapore. Travel is a mobile app that lets users search and discover hotel and destination options across the globe. Travel has more than 2,000 hotels in the Asia Pacific region with a variety of property types, including all-inclusive, mid-scale, luxury, and so on. It also has a rate aggregator function that brings together the best hotels at the lowest prices from all over the world. Travel users can rate the hotels they review and share their personal experiences in the app.

9. Fantefarms

In November 2017, Fantefarms, a Japanese plant-based food, and drink company announced the opening of its first overseas factory in Phnom Penh, Cambodia. It plans to create 15,000 jobs in the local supply chain, including farmers, processors, packaging, transportation, and accounting personnel.

10. HIP2GO

In November 2017, HIP2GO, a blockchain-powered mobile marketplace that connects healthcare workers to patients, became available in Thailand, Cambodia, and Vietnam. The company said it has developed a solution for the current healthcare industry and is providing solutions to the challenges and limitations of the traditional patient-doctor care relationship. The business model allows HIP2GO's customers to pay medical professionals directly for their services.


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