All the young dudes
General
Motor - Technology will drive motor insurance forward
Motor - Endgame for motor dominance?
Motor - Low motor claims to the rescue in Sri Lanka
Life & health
Life insurance Australia: The inflection point
View from India - A health-check for health insurance
Specialist and niche
Top-25 InsurTechs in Asia revealed
Charting a course in India
This InsurTech offers bite-sized products
Singapore
Learning to live with a pandemic
Keeping up with the demands of a mature market
Reinsurance still in an advantageous position
A practitioner's view of Singapore InsurTech
Recent developments in Singapore-domiciled CAT bonds
Insuring Singapore's infrastructure projects
Insurance segment that is captivating risk owners
Reinventing bancassurance through digital acceleration
Homogeneity of insurance products causes problems
Motor insurance customers satisfied post reform
The rising threat of ransomware
Technology as an enabler of strategic objectives
Five reflections from actuarial innovation in the COVID-19 era
Customers, their data and the underwriter
Handling claims in the new age
Reconciling the industry's data debt
Special issue of The Geneva Papers in memory of Dr Orio Giarini
The economic impact of exclusion zones
Super apps - saviour for the insurance industry?
Infographics: Insights from the industry
Asian
China: General insurers to show weak underwriting results this year
India: COVID-19 claims accelerate
Indonesia: Life premiums jump by 25% in 1Q
South Korea: Weakening profitability cited as reason for foreign FIs withdrawing from market
Risk
Taiwan drought highlights water stress as growing environmental risk
Climate transition pathways established to help move to low-carbon economy
Product Bites
People on the move
INSURTECH
INSURANCE - Life & health
At a recent life insurance roundtable facilitated by KPMG, some of the top executives in Australia’s life insurance industry gathered to discuss how the sector can rebuild the faith of its customers and capitalise on difficult market...
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CHINA
In 2020, when the growth rate of the property insurance sector in China was under 5%, Taikang Online achieved premium growth of nearly 90%, ranking the highest in the industry. Differentiation remains paramount.
CYBER
Ransomware attacks have, in recent years, become one of the predominant cyber threats to businesses and organisations around the globe. These attacks are increasing significantly, and that rapid growth is expected to continue.
DIGITAL TRANSFORMATION
Takaful Brunei, a composite carrier, has developed a digital roadmap to record technology implemented and to chart and identify milestones to enhance its business.
CLAIMS
Pacific Life Re’s Mr Andrew Doran talks about how AI and data analytics can be utilised while keeping in mind the most important part of the entire process – the customer.
NOTEBOOK
A new special issue of The Geneva Papers on Risk and Insurance is dedicated to Dr Orio Giarini – founder of The Geneva Association – who died on 28 February 2020.
The last few years have seen the rise of ‘super apps’ that provide services for almost every aspect of a customer’s daily life.
We might all be forgiven for thinking that the life insurance industry had been bashed so hard by the pandemic and eroded by creeping technology that it would soon be virtually unrecognisable. But perhaps not.
While motor insurance has so far not had to bear the brunt of the effects of COVID-19, the pandemic is still causing enough disruption to make the short-term outlook for the sector unpredictable.
India’s motor insurance premium declined in 2020-21. Is this trend here to stay as health insurance gets preference in the pandemic or is it just a temporary anomaly?
Motor continues to dominate the non-life insurance business in Sri Lanka and despite challenges from the COVID-19 pandemic and government policies the segment will remain dominant in the future.
When new technologies emerge, it is not always immediately obvious what their final application will be. The same could be said of InsurTech, which is finally emerging not as a disruptor, but as a whole new style of business.
The top-25 InsurTechs in Asia, based on total funding, sees China and India leading the way. The sector remains a vibrant one with high investor interest as insurers embrace the virtues of technology.
Over the last two decades the Indian retail health insurance market has seen some very useful innovations, however, the group health insurance market has remained in legacy mode.
Singapore’s general insurance sector has remained stable over the last year, despite the pandemic’s impact. But effects of COVID-19 on different lines of business are as varied as the challenges it has created.
The pandemic brought with it a heightened awareness of health and financial protection needs, and life insurers responded with a slew of new products to meet those demands, delivered through digital channels that have been in development for years.
Singapore does not have much to offer by way of local reinsurance business, but it does have business-friendly reinsurance infrastructure that makes it a prominent reinsurance hub in the region.
Captive insurance is gaining traction globally amid COVID-19 disruptions affecting the insurance market, with Asia Pacific being one of the world’s fastest-growing regions.
The COVID-19 pandemic and resulting disruptions have accelerated the digital needs of customers and banks and insurers must provide seamless online integration and remote service offerings to build high-performing bancassurance channels.
The motor insurance reform launched by CBIRC in September 2020 has largely met consumers’ expectations and they feel that their gains have been significantly enhanced.
Twelve months on from the peak of the first COVID-19 wave in Europe, the Institute and Faculty of Actuaries hosted a fortnight series of events to showcasethe range of ways in which the actuarial profession has added value.
While some insurance companies have been ramping up digital efforts in recent years, many are still reluctant to transition from paper to digital filing systems.
Data has been hailed as ‘the new oil’ for years and yet the insurance industry in Asia, which supposedly sits on a treasure trove of data, has been unable to leverage it.
New research reveals that an exclusion zone set up after a terrorist attack or similar event can result in up to 10 times the insured loss expected from physical damage to an affected area, due to business interruption or prevention of access.
Chinese non-life insurers’ overall underwriting margin will remain weak in 2021 despite the recovery of economic activity, says Fitch Ratings.
Non-life insurers are seeing a sharp spike in claims, in the wake of higher COVID-19 infection rates in the country, a situation that could impact their balance sheets if the trend continues.
Life insurance business in Indonesia has begun to improve, as is indicated by significant growth in the sector in the first three months of this year.