It’s August. The world is in a real turmoil. Bad news haunt the world daily. Are things getting out of hand as this “summer of discontent” hits at several levels -- political strife, racial tensions, religious divide, cyber threats and terrorist attacks? On the economic front, the smallest of positive news send stocks into upswings. The UK is at least moving ahead with the mantra of “Brexit is Brexit”. The Trump-Clinton race is anyone’s guess. Will globalisation crumble?
August is a time for holidays and soul searching, but there is just too much fear and worry for a nice break. Smart technology has ensured that no one can take a real break as everyone is just so connected. Closer to home, typhoons and floods have come early too.
As you recharge, on our part to help the industry cope with what’s coming, we have planned five events for September alone. The Asia Nat CAT and Agriculture Insurance Conferences endeavour to find sustainable insurance solutions to close the protection gap. With the theme of Insurance for the Masses, we want to be part of the voice in the wilderness offering an insurance bridge to the needy.
Then riding the wave of disruptive innovation, we host the CIO/CDO Summit where tech managers have a chance to shape the future of the industry. Are they the game-changer?
Then, with the ageing problems in Asia, our annual Pensions and Retirement Planning Conference will look at insurers playing a more dynamic role in getting the insured ready for retirement with a nest egg that can fly. Our fifth conference for September is the Takaful Rendezvous which continues to sizzle with appeal, and we take it one notch higher to look at takaful in the smart digital era.
Lest you moan that we are tiring you with so many conferences, just remember that each conference is targeted at a different audience and not all at just one person or group. We aim to serve our diverse clientele. So pass the word around so others can save the dates.
Back to the schedule: our Country Profile is on Taiwan which, with the highest life insurance penetration in the world, yet brims with great plum opportunities. There is still growth momentum in the non-life market too. Our spotlight on Sri Lanka is on the May floods and a report card on the RBC implementation.
Our cover story is on the Catering to the Changing Consumers in the tech-driven health sector where the thrust will not just be the care of patients, but meeting the needs of healthy and demanding consumers. Are insurers ready?
Reflecting on July, when we saluted agents as the unsung heroes of the market with the 1st Asia Trusted Life Agents & Advisers Awards, we felt a palpable sense of pride in the role agents play in the industry at the Gala Awards Presentation Dinner with 400 guests. The energy was positive and dynamic, and the crowning moment was when the winner of the Insurance Agent of the Year returned home to Hong Kong to be welcomed by fans as the Queen of Insurance Sales in Asia. This was regional power -- Asia at its best as a single region. There were winners from six markets for the nine awards given out that night.
This August, I urge you all to take a break. Rise above the dismal news of the day and find something positive to make life exciting. A happy mind produces the best business results. Spread the word and chill out.
Sivam Subramaniam
Editor-in-Chief
Asia Insurance Review