The Voluntary Health Insurance Scheme (VHIS) is officially launched today. AXA Hong Kong has successfully registered by the Food and Health Bureau (FHB) as a VHIS provider and will offer the Standard Plan for personal reimbursement for hospitalization, namely “WiseGuard Medical Insurance Plan”, and the Flexi Plan with flexible options as “Smart Medicare”. Both of the above VHIS programmes can be insured as a stand-alone basic plan or supplement to other AXA Hong Kong basic plans to meet customer needs. Optional supplementary major medical is available as a top-up for “Smart Medicare” customers for a more comprehensive protection; while existing designated customers of “Smart Medicare” can enjoy auto-upgrade, exempted from re-underwriting, to the VHIS Flexi Plan on the policy anniversaries.
All-round expansion on medical coverage| VHIS to help alleviate the burden on the public healthcare system
AXA Hong Kong’s VHIS Certified Plans (including the “VHIS Standard Plan” and “VHIS Flexi Plan”) completely meet FHB’s requirements, including standardised policy terms and conditions, guaranteed renewal up to age 100, covering unknown pre-existing conditions and eligibility for tax deductions, among others. According to the “VHIS Perception Survey Findings” released by AXA Hong Kong in February 2019, about half of the respondents welcomed the VHIS provision for tax deduction (42%) and extending the coverage to “unknown pre-existing conditions” (48%), indicating that the public expects medical insurance to offer a wider range of protection.
Dr. Alexander Chiu, Medical Director, Health and Employee Benefits of AXA Hong Kong and Macau, said, “As one of the leading companies in the medical insurance market, we are serving more than 500,000 customers. We are pleased to participate in VHIS as well as to launch certified plans that allow more people to receive timely and comprehensive protection. VHIS includes such items as ‘unknown pre-existing conditions’ with wide coverage, which is believed to reform the medical insurance in the market. AXA Hong Kong will gradually expand the coverage of its medical insurance products in response to market demand.”
Exempted from re-underwriting | Existing designated “Smart Medicare” customers enjoy auto-upgraded to “VHIS Flexi Plan”
At present, the public healthcare system is on the verge of saturation. AXA Hong Kong has found most Hong Kongpeople has underestimated or got no idea of the medical expenses in public hospital, in particular the self-financed items. To enable customers to prepare for sudden and huge medical expenses, AXA Hong Kong will enhance Smart Medicare in keeping with the VHIS Flexi Plan, and divided into three benefit levels: Regular, Superior & Premier. Existing Smart Medicare designated customers are exempt from re-underwriting for auto-upgrade upon the policy anniversary, and it is expected that up to 70% medical insurance customers of AXA Hong Kong will be benefited. Whether for a new or an auto-upgraded customer, Smart Medicare not only includes the product features of the VHIS Standard Plan, but also the outpatient kidney dialysis, medical negligence benefit, and more, to achieve a more comprehensive coverage. With flexibility, customers can also add optional supplementary major medical benefits as needed.
At the same time, AXA Hong Kong is actively preparing other VHIS Flexi Plans that meet VHIS requirements, to leverage on the existing cooperation and advantages in the medical market to meet the public demand among different sectors. Customers can evaluate their medical needs to choose VHIS certified products which gives the accessible, continuous, quality and transparent protection.
Hyperledger-based token Metacoin to list on its first global cryptocurrency exchange, Liquid
Global cryptocurrency platform Liquid.com (“Liquid”) will be listing Metacoin (MTC), the world’s first Hyperledger-based token, for secondary trading.
Metacoin is a project focused on expanding the blockchain ecosystem by solving fundamental issues that the traditional cryptocurrency has yet to overcome such as scalability and security. Released as a mainnet platform in 2018 as the first commercialised mainnet based on the Linux Foundation’s Hyperledger Fabric, Metacoin currently boasts several key projects such as:
- Issue token (https://issuetoken.io/) a service where businesses can create their own token
- A wallet service (https://wallet.metacoin.network/)
- A block explorer (https://metascan.io/)
Several notable Dapps are also currently being built on the Metacoin platform such as:
- Play bits (https://playbits.io/), a powerful blockchain gaming platform,
- Coldbank (https://www.coldbank.io), a custodian service that aims to provide a high level of security on IBM’s LinuxONE
- Autosdaq (https://autosdaq.com/) an exchange that seeks to create an ecosystem where mobility-related products and services can be used with cryptocurrency.
Jay Baek, V.P. of INBLOCK said, “We’re excited about the listing of Metacoin on Liquid. As one of the largest, most secure and reputable exchanges globally, Liquid will offer best-in-class security to anyone looking to trade and hold MTC. More importantly, being listed on a major exchange is aligned with our mission of creating new value through collaborations with other companies and business support.”
Metacoin aims to solve two fundamental issues in blockchain technology — scalability and security — by implementing its node into LinuxONE. By doing so, Metacoin is not only able to further secure and protect users’ data but handle millions of transactions per second in a safe and secure manner.
“We are delighted to be the first global cryptocurrency exchange to add Metacoin to our offering of digital assets on Liquid, and also be the first exchange to be able to support projects built on Hyperledger,” said Mike Kayamori, CEO and co-founder of Liquid. “The ability to support Hyperledger-based projects is certainly an important step towards our mission of providing liquidity to the crypto economy.”
Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. Hosted by the Linux Foundation, it is a global collaboration that includes leaders in finance, banking, Internet of Things, supply chains, manufacturing and Technology. Hyperledger Fabric currently supports distributed ledger solutions for a wide range of industries and maximises the confidentiality, resilience and flexibility of blockchain solutions through its modular architecture.
To celebrate the listing of Metacoin on Liquid, the Liquid and Metacoin teams have decided to provide a 1% bonus for anyone who deposits more than 1,000 MTC and a 3% bonus for anyone who deposits more than 30,000 MTC on Liquid. Liquid and Metacoin will also host a Trading Competition that rewards 1,000 MTC to the top 100 users in trading volume at the end of the campaign. More details will be shared soon. For the latest updates, follow Liquid on Twitter at @liquid_global
Inaugural SFF x SWITCH sees over 60,000 participants from 140 countries; event to return on 9-13 November 2020
The Singapore FinTech Festival (SFF) and the Singapore Week of Innovation and TeCHnology (SWITCH) concluded its combined week-long event on 15 November 2019, which attracted more than 60,000 participants from 140 countries. The event also saw a record 569 speakers, close to 1,000 exhibitors and 41 international pavilions.
SFF x SWITCH will return next year from 9 to 13 November 2020. It will build on the energy, ideas and partnerships established this year, to further strengthen the ecosystem for FinTech and deep tech in Singapore and the region.
In line with the theme of Sustainability and Climate Change, Minister Ong Ye Kung unveiled the Monetary Authority of Singapore (MAS)’s green finance action plan to strengthen green financing capabilities in Singapore and announced the launch of a US$2 billion Green Investments Programme, among other initiatives under the action plan.
DPM Heng Swee Keat unveiled Singapore’s National Artificial Intelligence (AI) Strategy in his keynote speech, and highlighted a new framework, Veritas, introduced by MAS to promote the responsible adoption of AI in the financial sector. He also announced the expansion of the Global Innovation Alliance (GIA) network to include London, and the launch of the Open Innovation Network (OIN) by Enterprise Singapore and Infocomm Media Development Authority (IMDA) to promote open innovation across sectors.
Under the GIA, Enterprise Singapore signed a Memorandum of Understanding (MOU) with UK-based accelerator IoT Tribe, to facilitate two-way innovation and business partnerships.
It also inked MOUs with three new partners — DayDayUp (Beijing), Plug and Play Asia Pacific (Jakarta) and Leave a Nest (Tokyo) — to run GIA programmes in their respective markets.
MAS and the Bank for International Settlements (BIS) jointly launched the BIS Innovation Hub Centre in Singapore, to foster innovation and greater collaboration among the central banking community globally. The opening of the BIS Innovation Hub Centre in Singapore marks BIS’ first expansion of its global footprint in 17 years.
MAS also established partnerships with financial authorities in Canada and France, to strengthen cooperation in FinTech and cybersecurity respectively, and welcomed Banque de France (BDF)’s opening of an overseas office in Singapore in early 2020.
SFF x SWITCH 2019 saw new partnerships as well as progress in ongoing initiatives with the industry.
- Project Ubin Phase 5, a collaboration among MAS, the financial industry, and the blockchain ecosystem, saw the successful development of a blockchain-based prototype that enables payments to be carried out in different currencies on the same network.
- Business sans Borders (BSB), which was launched by MAS and IMDA in 2018, has successfully completed its Phase One Proof of Concept and will proceed with the Phase Two Pilot in 1H 2020.
- MAS, Deloitte and S&P Global Market Intelligence have jointly developed a prototype for an industry-wide FinTech Research Platform to help investors and financial institutions connect with FinTech start-ups that they can partner with or invest in.
- Enterprise Singapore launched the inaugural Sustainability Open Innovation Challenge in partnership with corporates and government agencies to tackle problem statements spanning sustainability themes in resource efficiency, zero waste, green transport and sustainable built environment.
- As part of efforts towards sustainable growth, the National Research Foundation launched the Singapore Battery Consortium to support industry-academia collaboration in cutting-edge battery technologies, bringing companies and researchers together to develop better battery products that serve market needs.
2019 Event Highlights
SFF x SWITCH celebrated the winning solutions of the Global FinTech Hackcelerator, FinTech Awards and SLINGSHOT 2019 respectively. Following vibrant demo and pitching sessions where FinTech and tech startups presented their solutions to industry panels of judges, three winners emerged from the Global FinTech Hackcelerator, while there were 12 winners each from the FinTech Awards and SLINGSHOT 2019.
SFF x SWITCH concluded the week with the Innovation Lab Crawl and Industry Events (14-15 November), which saw over 20,000 visitors across over 50 innovation labs and more than 30 workshops and networking events held around Singapore. The SFF x SWITCH organising team thanks all our partners and attendees for making this year’s event a big success. We look forward to continued collaboration with the industry to bring about an even more exciting and impactful event next year.
SOURCE Monetary Authority of Singapore
Experian brings world-class technology conference to Singapore with inaugural VISION2020 Asia Pacific
Experian, the world leader in information services, announced today that the inaugural Asia Pacific edition of its signature Vision Conference will be coming to Singapore next year. VISION2020 Asia Pacific (APAC) will be held at the Ritz Carlton Hotel in Singapore on 5th and 6th February 2020.
For the past 38 years, Experian’s Vision conference in North America has been connecting business leaders to innovative ideas and solutions to help them target new markets, grow their customer bases, and reduce fraud. The event has also hosted world-renowned keynote speakers including Apple’s co-founder, Steve Wozniak, former US president, Bill Clinton, and five-time NBA champion, Kobe Bryant.
Next year, under the theme “Future favours the BOLD – Innovating for tomorrow”, VISION2020 APAC is where leading minds from the banking and fintech industries will converge to examine how companies can navigate the next phase of digital finance and build a BOLD future powered by data, technology, and analytics.
A thought leadership platform dedicated to the most salient business developments, VISION2020 APAC will shine a spotlight on major shifts that are reshaping the region and the significant growth opportunity that lies with the application of data assets today, to enable the provision of better services. Curated sessions on topics such as Fraud and Open Banking — two of the six conference themes — will help business executives gain a better understanding of the new banking paradigm that is ushering in the next phase of consumer finance in Asia Pacific.
The conference will also feature a dedicated space for technology showcase, where attendees can discover the latest solutions from Experian’s X Labs innovation hub. Built to address customer pain points, X Labs is home to some of Experian’s most cutting-edge technologies for Open Banking, Agriculture, Alternative Data Scoring, Predictive Analytics, and more.
Ben Elliott, Chief Executive Officer, Experian Asia Pacific, said: “We are delighted to bring our flagship conference to Asia Pacific, a fast-growing market with access to an amount of data unrivalled in size. VISION2020 APAC will catalyse important conversations around the unprecedented business opportunities offered by the data economy through sessions on Open Data, Autonomous Analytics, and Alternative Data. We look forward to inspiring our customers, partners, and industry luminaries to take on a bold approach as we navigate through these exciting times together as a region.”
Attendees can expect unparalleled networking potential and learning opportunities with a two-day programme featuring expert presentations, technical workshops, innovation showcases, and panel discussions led by the top minds of the industry.
The speaker line-up features some 50 industry experts and leaders including senior representatives from ANZ Bank, Boston Consulting Group, IDC Financial Insights, Open Bank, WeLab and many more. Notable thought leaders such as Alex Manson, Global Head, SC Ventures; Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore; Steve Leonard, Founding CEO of SG Innovate; and Malcolm Rodrigues, CEO & co-founder, MyRepublic, will also be speaking at the event.
Sharing the stage with the distinguished guest speakers is Experian’s team of senior global executives including Brian Cassin, Group CEO; Ben Elliott, CEO, Asia Pacific; Alex Lintner, Group President, Consumer Information Services; and David Britton, Vice President, Industry Solutions, Global Fraud and Identity.
In addition, attendees will also hear from guest speakers including Lewis Hamilton, five-time Formula One world champion, and Sachin Tendulkar, former international cricketer considered as one of the greatest batsmen in sport’s history.
Visit the official VISION2020 APAC website for the latest updates on the conference and use the hashtag #ExperianVision2020APAC to join the conversation on LinkedIn. Register by 30 November to enjoy early-bird rates at USD1,295. This conference is also supported by the Singapore Exhibition & Convention Bureau, a part of Singapore Tourism Board.
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