In a mostly old-fashioned industry such as insurance, digital transformation is a stumbling block for many companies. To learn more about how insurance can keep up with the digital age, we spoke with Peter Tay (pictured), chief operating officer of Singaporean insurer Income.
“Income’s foray in the innovation space was when we launched Income Future Starter in 2014 as a $100K challenge in support of start-up innovations,” Tay told Insurance Business. “The intent then was to connect and engage with the ecosystem to explore possibilities and we received encouraging outcomes which spurred us to sharpen our position.
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