Japanese insurance giant Mitsui Sumitomo Insurance (MSI) has set up global digital hubs in Tokyo and Singapore.

The digital centre in Singapore, which is the group's Asia regional office, has been established since February 2019.

The Singapore digital hub should, according to MSI, contribute to the development of digital initiatives in ASEAN, by supporting the Asia regional office in developing business strategies.

The hub was also set up to help the company figure out how to enhance customer experience in ASEAN markets, in a bid to cater to rapid digitalisation. With the hub, MSI aims to help facilitate the development of innovative InsurTech via collaborations with other business partners and startups.

The Tokyo global digital hub opened on 5 April, with its mission to cultivate open innovation with start-ups, promote digitalisation initiatives among employees and agents, and develop human capital using advanced technology.

The Tokyo global digital hub will be MSI's innovation epicentre, in order to find new ways of adding value for its clients using technology.

“By collaborating with start-ups, MSI hopes to develop innovative products and services that will help address social issues and contribute to society as per the UN’s Sustainable Development Goals,” the insurer said.