March is always an exciting time with the crocuses with their myriad of colours in the mind’s eyes. Business is booming for most, and our just-concluded Asia CEO Summit was compelling in its optimism with proof that, despite disruptive innovations buffeting the industry, insurers are rising to the challenge with fast and speedy ideas and unravelling new areas of growth and profitability too. Now if only one can quickly master the massive big data that each insurer has and to first “clean the data”, then “mine” it before using it without infringing data privacy and personal comfort zones. The good news is that the technology is rising and it is more responsible and sustainable than the bubbles of the past. We are on a high. Insurers can only get better by getting up close and personal with clients and corporates as partners in the risk game.
In that same vein, we launch our Anniversary Summit in April with the support of several bodies in the UN and several user communities of insurance to salute the contributions that insurance makes to the society and the economy, beyond just selling protection and peace of mind. Do mark your calendar (29-30 April in Singapore) for this must-attend event if you are an insurance professional dying to see the industry being better appreciated for the greater good it does!
In March, our big show is the Asia Brokers’ Summit in KL to mark the 40th Anniversary of the Malaysian Insurance & Takaful Brokers’ Association, and we ride with the theme of “optimising the value of brokers in the insurance value chain”, and our cover story actually brings out “Club Clout” with the rising important role of broker networks in a world dominated by the Big Four. We even have incisive editorial that puts a spin on buying insurance to selling risk!
To salute the host of the Summit, our country profile is on Malaysia where, despite the economic outlook being hit by depressed oil prices, the insurance industry has several positive factors propelling it with the muscle to ride out the tough times. Like the wisdom of yore, “Malaysia Boleh” is more than just a Kampong Spirit that adds grit to the market’s drive to grow.
And to mark World Women’s Day, we zero in on six women leaders in the industry whose drive and determination to succeed and give of their best shows that they just want a chance for “the best man to win even if she is a woman and not because she is a woman”. We salute all dedicated workers who take pride in their work even if they are only men.
As part of our ride to reach out to risk managers, we launch a dedicated Risk Management Focus, we itemise the top risks that should keep countries, businesses and individuals worried and to do something about it.
As we look ahead at the ageing and health-related problems flagging the industry, we have a spread of healthcare stories to whet your appetite for our Asia Healthcare and health Insurance Conference in Singapore at the end of the month. We even offer ideas on sustainable solutions to older-age care and how to incentivise healthy living.
With the galore of events in March, we salute APLIC and the amazing role of agents in the life industry with great ideas for game changers in mature and emerging and digital markets. There is so much on offer in March including a read on what makes a director “executive”; the done deal in India’s nuclear pool; the impact of interest rates on insurers’ profitability; five secrets to keeping the insurance industry in shape; and the long hard climb to regional co-operation in SAARC and AEC.
With the rush of spring, the colours abound. My very best wishes for a thousand flowers to bloom for all.
Sivam Subramaniam
Editor-in-Chief
Asia Insurance Review