Editor's Message
General
Coronavirus - Event-cancellation insurance: Contingency planning
Coronavirus - COVID-19: A lesson learnt for marine insurers
Think Tank: The Geneva Association - Switching motivation and moral hazard
Microinsurance in Asia
Life & health
Maintaining agency in the face of the coronavirus
Agents and AI - fostering an alliance
The pandemic threat to life insurers
Propelling India's economy through its maritime industry
Is business prepared for the new normal of disruptions?
Australia
Concerns over royal commission outcomes
Commercial property at risk from cyber attacks
Best practice makes perfect in claims
Taking the long view of life reinsurance
The broker's job just got tougher
Translating data into business insight
The regulator is now wide awake
Investing in education
Insurance on subscription: The future starts here
Cost of doing business will rise
Asia's last frontier market opens to the world
New dawn for reinsurance
Meeting the training challenge
Narrowing the protection gap via technology
Turning crisis into opportunity
Transformational execution is key to success for insurers
Finding the optimum solution
India's InsurTech unicorn
Where InsurTechs should be focused now
Diversity is key to successful business
View from India
Insurance can do with more foreign investment
Revealing insights from insurance industry leaders in Asia
Product bites
Asian
Australia: Multiple breaches found in life industry's code of practice
China: COVID-19 places $122bn of trade exposure at risk
India: LIC IPO could lead to more foreign interest in domestic insurance market
Indonesia: Aviva to pull out of JV
Myanmar: Regulator gives the green light to bancassurance operations
Global
Aon and Willis Towers Watson to merge
Risk
Some regions in Asia and Australia will be more at risk in the next wildfire season
Over 25% of cyber losses for large companies are machine identity related
People on the move
Reasons to be cheerful, part 3
COUNTRY PROFILE - Australia
MYANMAR SPOTLIGHT
Myanmar, with a population of 54m, opened its insurance market to foreign players in November 2019, ending decades of waiting.
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INSURANCE - General
As COVID-19 continues its spread around the world, events are being cancelled. Many event-cancellation insurance (ECI) policies have exceptions for communicable diseases.
Empirical results from automobile physical damage insurance in Taiwan show that policyholders who switch to a new insurer early before their prior policy expires are more likely to file a claim in the last policy month.
The world of claims continues to grow in scale and sophistication as new technologies are brought to bear on this most crucial link in the insurance chain.
TECHNOLOGY
In a challenging environment, strategic use of technology is essential for (re)insurers to stay relevant and get an edge over the competition.
DIVERSITY AND INCLUSION
Traditionally, a majority of the world’s societies have been patriarchal. However, with the passage of time, the perception of what a man’s or woman’s role in society should be has evolved.
Since I started my career as a diplomat and free trader, I have been a vocal campaigner for globalisation. Today everything is in stark contrast. Through the global village the coronavirus has morphed into a pandemic and now the whole world is...
Marine insurers could be considerably impacted and may change how they underwrite in an ever-evolving risk landscape according to IUMI’s Rama Chandran.
In the event of a pandemic, life and health insurers are essentially the last line of defence when containment fails and society has to manage the human and financial losses.
India is currently the third largest global economy, in part propelled by the Indian maritime sector, which has supported the economy’s growth throughout the past decade.
Business continuity planning: The COVID-19 outbreak has affected business in every region threatening to throw the global economy into a technical recession.
The Insurance Council of Australia has found itself busy with the additional burden that the royal commission has put on its members.
Risk is ever evolving – and some new risks require serious research to put them into perspective. Australian Reinsurance Pool Corporation explores cyber terrorism causing physical damage to commercial property.
As the insurance market in Myanmar evolves, its reinsurance sector is expected to be liberalised and opened up further to local and global players.
The opening of the insurance market in Myanmar has brought before the industry its greatest challenge: Finding qualified and trained human resources.
We spoke to a number of leading insurance firms in China to get a first-hand account of what they did in response to COVID-19, when they did it – and the results they had.
InsurTech and innovation is not just the purview of start-ups – incumbent insurers have been involved in the tech game for a while now, in varying degrees of investment and with varying degrees of success.
With an increasingly digital-savvy population, many players have sought to leverage the emerging opportunity in the online space.
There were hopes that the union budget for the financial year 2020-21 would raise the foreign ownership limit for insurance companies to 74% – but it didn’t.
Many insurers in Australia breached their commitment to process insurance claims and requests for reviews within certain timeframes, revealed an investigation by the Life Code Compliance Committee, the administrator of the Life Insurance Code of...
The effects of the coronavirus on trade are gradually being seen among Chinese companies according to findings from risk-modelling firm Russell Group.
The Indian government’s proposed IPO of state-owned Life Insurance Corporation of India (LIC) could trickle down to the entire domestic insurance industry in terms of attracting more foreign interest.
For the uninitiated, these are the opening words sung by Ian Dury on his 1977 hit single ‘Reasons to be cheerful, part 3’. In essence the song is a paean to the things in life that make us happy and that make life worth living.