Life imitating science
Mr Reynaldo de Dios, insurance pioneer, 1927-2024
SIRC Connect
Ensuring mental health wellbeing in reinsurance
Navigating through the volatility of natural catastrophes
General
Asia: Insurance for M&A rising in popularity
Facilitating the drive to electric vehicles
Insurance literacy disparity between Singapore and Malaysia
View From India - Floods call for collaboration between insurance and technology
South Korea
K-ICS implementation may jumpstart coinsurance transactions
Agriculture insurance is growing well
South Korean life rebounds with IFRS17 and K-ICS
South Korean premium income expected to grow
Tough renewals and regulations for smaller reinsurers in Korea
China
China's motor insurance woes
Strategic shifts in insurance investment amid market volatility
Chinese motor insurance accelerates
Disaster prevention and mitigation through insurance in China
Risk managers: Assuming the mantle of leadership
Claims still require a human touch
Business interruption claims continue to rise in Asia
Understanding cyber risk better is crucial for APAC insurers
Liability insurance when AI makes a mistake
Bridges can be protected from ship collisions
Three trends set to drive cyber attacks in 2024
Rising costs remain healthcare's biggest problem
Innovation in action
CFOs debate IFRS17 and AI in Singapore
Asian
SIRC announces Swiss Re incoming group CEO as speaker on first day
China: Ping An sells 5.65m HSBC shares for $50m
India: Health insurance premium rates rise by up to 50% in past year
New Zealand: Insurers to be given three-year grace period to adopt changes to insurance law
Singapore: SingRe chairman passes away
Risk
Climate change could become the main driver of biodiversity decline
Why are major cities in China sinking 'rapidly'?
Reinsurers urged to prepare for public sector cyber attacks
Almost 85% of supply chains can't respond to disruptions in 24 hours
Manulife HK launches new life insurance savings plan
Allianz Partners and SingSaver collaborate to form travel insurance product
Singlife and Doctor Anywhere launch health subscription plan for self-employed
Pru Life UK in the Philippines launch comprehensive life insurance coverage
Sun Life HK launch a new CI protection plan series
Policystreet and Kiddocare partner to launch insurance for babysitters
People on the move
REINSURANCE - SIRC Connect
CLAIMS
While AI in claims has improved customer interactions and increased efficiency and decision effectiveness, the human touch cannot be removed entirely, especially when AI falsely identifies a claim as fraudulent and when deepfakes are involved.
MARKET PROFILE - South Korea
A double whammy of new financial reporting standards and solvency ratio requirements has taken its toll on reinsurers in South Korea, especially for regional branches with fewer resources.
Buy Now
NOTEBOOK
In the drive to comply with IFRS17, many insurers in Asia found themselves having to rethink their risk management and finance systems.
Life insurance agents in Asia Pacific undoubtedly get to have more face-to-face time with the end consumer than most other segments of the industry.
Insurance industry doyen and a founding editor of Asia Insurance Review, Mr Reynaldo de Dios has departed from the insurance stage, after over seven decades of purpose-driven service to the Philippines insurance industry and the region.
Mental health wellbeing in the workplace has become more important than ever, as remote offices have increased social isolation and combined workplace and home stress into a tangled knot that many employees cannot unravel without professional help.
Against the backdrop of climate change, ageing infrastructure and urban growth in high-risk prone areas, our world is confronted with an increasing number of disasters that were once considered very rare occurrences.
The entry of new insurers that provide warranty and indemnity (W&I) insurance to cover M&A in Asia has led to rising awareness and increased capacity.
Insurance can help facilitate this transition by offering protection to EVs and charging stations.
Based on a survey conducted by Sun Life Asia, it was found that Singaporean respondents have a higher level of insurance literacy, compared to most other Asian markets. In contrast, Malaysia showed low levels of insurance literacy.
When coinsurance was first introduced as an option to restructure insurers’ liabilities in in 2020 in South Korea, insurers and co-insurers could not reach agreements due to low interest rates.
With government support, the South Korean agriculture insurance sector has been growing well.
According to Korean Re, the life insurance market is expected to recover in South Korea in 2024, after declining at a rapid rate in 2023. Premium income is forecast to grow by 0.6% to KRW120tn ($88.7bn) in 2024.
China’s insurers have seen growth in motor premiums slow significantly, and EV risks are becoming untenable.
Investment income for Chinese insurers saw a decline in 2023. But 2024 seems to look brighter, as the Chinese economy rebounds.
Despite initial hiccoughs, post the motor insurance reforms initiated in 2020, the market is on the right track and is growing at the right pace.
The Risk Management Institute of Australasia held its 2024 Risk Conference in mid-May in Sydney’s Doltone House and saw over 400 delegates converge from around the country and region for the annual get together.
Pandemic and supply chain disruptions have emphasised the need for businesses, especially SMEs, to strengthen business continuity plans.
APAC’s cyber insurance market has experienced rapid growth, doubling from 2021 to 2023, yet it still accounts for just 1.5% of the $16bn global market. Ransomware stands as the top cyber threat in APAC, followed by supply-chain attacks.
As AI increasingly becomes a part of our everyday life, two main questions arise – can AI make mistakes? And if AI can make mistakes, who is liable for those mistakes?
In recent months there has been a spate of collisions between ships and bridges around the world.
Following two years of high but stable loss activity, 2023 saw a worrying resurgence in ransomware and extortion losses, as the cyber threat landscape continues to evolve. Hackers are increasingly targeting IT and physical supply chains, launching...
At the 19th Asia Conference on Healthcare and Health Insurance, experts from across the insurance and healthcare industry discussed the perennial issues that are plaguing the healthcare ecosystem.
Swiss Re incoming group CEO Andreas Berger has been confirmed as a main speaker on the first day of this year’s Singapore International Reinsurance Conference (SIRC).
Ping An Insurance Group Co, China’s biggest insurer by capitalisation, sold 5.65m shares in HSBC Holdings on 7 May at an average price of HK$69.3074 ($8.87) per share.
More than half (52%) of the respondents to a survey say that their personal health insurance premiums increased by over 25% in the last 12 months.