Geopolitical tensions can help boost insurance
SIRC Connect
DEI continues to be a focus in recruitment
Change is a constant for the reinsurance industry
APAC life market to see increasing demand for financial stability
General
As ESG risks rise, D&O covers need a new look
Life & health
Sri Lanka's life industry bucks the trend with growth
Agency still most profitable channel in Sri Lanka life
Structural growth factors for life insurance in Asia Pacific
Vietnam
New regulations spur interest in Vietnam non-life market
Stricter regulations for bancassurance
New regulations will improve Vietnam life insurance
Vietnam insurance market sustains growth momentum
Thailand
Thai insurers cope with ageing population and increasing healthcare demands
Changing demographics present Thai life sector with opportunities and challenges
New regulation offers scope for M&A in Thailand
Synchronising technologies for insurance claims management
Personal pensions rolled out across China
Insurers in talks with Vanke on non-standard debt
Complementing offerings from conventional operators
Technical due diligence needed to insure AI
Adopt and adapt to AI
Digital platforms democratising insurance
Lack of women in top leadership despite diverse workforce
Insurers and banks combating climate change together
Trending: TPAs as a growth engine for customer experience
Partners in compliance
Asian
Asia Pacific: Insurers will focus on investment risk as economic growth slows
China promotes basic health insurance for children
India: 'Missing middle' may be covered by universal health insurance
Taiwan: FSC to allow more channels for insurers to raise capital
Risk
Air pollution is the fastest growing protection gap
Asian CROs worry most about operational resilience
Insurers taking on more risk for their investment portfolios
Extensive evidence of second-hand trauma amongst claims handlers
Great Eastern Singapore launches single premium plan with 100% capital guarantee
Etiqa Malaysia launches two new term and CI family plans
PICC, Ping An and China Pacific units jointly launch disability income insurance plan
Transamerica Life (Bermuda) launch upgraded indexed universal plan for HNW customers
Etiqa Insurance Singapore launch CI plan with mental health support
People on the move
MARKET PROFILE - Vietnam
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AUSTRALIA
Anyone who attended ANZIIF’s Australian Insurance Industry Awards last year will already be familiar with Sync Technologies since the company bagged the InsurTech Startup of the Year for 2023 award.
CHINA
Large Chinese property developer Vanke is facing profound challenges – prompting several insurance funds to enter discussions over debt resolutions.
NOTEBOOK
With a continually evolving market landscape, insurers across Asia are looking at third-party administrators to help them improve efficiency and the customer experience.
Take Malaysia for instance, a nation that seems to be quite content to be the epitome of the ‘quiet achiever’. It seems that, as tensions between the US and China have ramped up and the focus has fallen on the production of microchips,...
There has been a dramatic change in how companies have approached DEI over the past few years, from changing hiring practices to introducing new workplace benefits.
Over the past 25 years since the establishment of Allianz Reinsurance in Asia Pacific, the reinsurer has learnt many lessons from substantial Nat CAT events in the region.
A look at the opportunities that lie ahead for the life (re)insurance market in Asia Pacific amid ageing demographics, financial market uncertainty, alongside evolving accounting and solvency standards.
ESG standards are high on the agenda of most boardrooms. How do D&O covers evolve in view of the new risks that the corporates face across the ESG framework?
Sri Lanka faced its worst politico-economic crisis in 2022, but is now on the path to recovery, which bodes well for the life insurance industry that saw substantial growth in 2023.
Although alternative distribution channels for life insurance such as bancassurance and online platforms are emerging in Sri Lanka, the long term of policies means that potential policyholders still prefer to make purchases through agents.
Vietnam’s non-life insurance was bolstered by a new insurance business law at the start of 2023 which has rejuvenated the market and drawn the attention of foreign investors.
New regulations in Vietnam have introduced stricter conditions and requirements regarding the sale of insurance products through agencies, including banks.
Upcoming laws that are planned by the Vietnamese regulator should have a positive effect on sales of life insurance, especially through bancassurance.
Thailand’s healthcare system has served the country well until now. However, it may now prove inadequate as the country ages and health awareness increases.
Even as the low birth rate and shrinking workforce reduces the number of potential customers who need traditional life insurance products, demand for policies catering to the needs of senior citizens or pre-retirees is increasing.
Recent regulatory initiatives in Thailand have opened opportunities for strategic M&A in the market that will not only help maintain stability and growth but also strengthen the Thai insurance industry in the long term.
The pilot phase of China’s personal pension system completed one year in November 2023. Whether it was a profitable first year or not is open to debate. The Chinese authorities have, however, rolled it out across the country from the initial...
InsurTechs are uniquely able to navigate the intersection of insurance and technology to make an impact and address protection gaps.
According to a recent whitepaper published by Munich Re, although measuring the performance of AI is not straightforward, it must be well-defined to facilitate meaningful risk transfer.
While AI offers vast opportunities in all realms of life, a lot depends on how people make use of it. Being at the initial stages of AI, there is lot of apprehension about its use.
While retail, media, entertainment, travel and healthcare have developed a recipe for platform scale, insurance has lagged behind.
Findings have shown that companies with more women in leadership roles perform better. They also have traits that may add value to the actuarial profession and C-suite roles in the industry.
At a recent webinar organised by the Global Asia Insurance Partnership, panellists discussed the importance of sustainability and dealing with climate change in order to bring about a brighter future.
Credit trends in the Asia-Pacific insurance sector remain steady, though prospects vary across regions, says S&P Global Ratings (S&P). Of the Asia-Pacific insurers S&P rates, 98% have a stable outlook.
Chinese authorities have launched a campaign to expand basic medical insurance coverage for children, aiming to safeguard their rights, interests and health in the country.
The Modi government may launch universal health insurance for 400m citizens who currently lack medical insurance.
Great Eastern Singapore introduced GREAT Flexi Saver exclusively for selected customers whose policies are maturing, with competitive interest rates on their sum invested, without fees and charges or a lock-in period.
Etiqa Insurance and Takaful has launched new term and critical illness family plans in collaboration with the Malaysian Employee Provident Fund (EPF), to protect EPF members.
Three health insurers have launched a disability income insurance plan on the Ant online insurance agency platform.