War: What is it good for?
Reinsurance reset at 19th SIRC 2023
Good morning, Vietnam
Holistic approach to climate resilience required
General
COVID-19 a boon for motor insurers
Cross-border opportunities in the Greater Bay Area
How technology is impacting the motor insurance sector
How motor insurers are setting themselves apart
High quality data required to combat motor fraud
View from India - Why India has not adopted usage-based motor insurance
Insurers need to do more on climate change
Staying ahead of the AI challenge
Life & health
Financial education is essential for emerging markets
Asia needs more data integration to improve healthcare
ESG and AI: The tipping points for health insurance in Asia?
Hong Kong
Regulator aims to consolidate status as risk and insurance hub
Great opportunities in the Greater Bay Area
Regulatory support required for non-life players in Hong Kong
Emerging Asia fuels reinsurance industry
Motor insurance reforms are on track
What's hindering health insurance development in China?
Takaful in Australia
How technology is transforming claims
Boardrooms must address climate change threat
Asian
Australia: New federal budget provides for climate change and disaster response measures
China: EV maker takes over online insurer
Thailand: OIC adopts digital technology to handle insurance disputes
Risk
Australia: SMEs at risk of insurance gaps due to inflation
Insurers are feeling better prepared than in 2021 and 2022
More than three fourth feel prepared yet 50% still fall victim to ransomware attacks
Hong Kong: AIA launches comprehensive medical support for medical tourists
India: Reliance General offers cover for gig workers
Malaysia: MSIG launches mileage-based motor usage plan
Singapore: Etiqa partners Singtel to launch free retrenchment coverage
People on the move
MARKET PROFILE - Hong Kong
AUSTRALIA
According to takaful companies the world over, shariah-compliant insurance is not just for Muslims but should appeal to customers of all faiths who simply want to take advantage of a product that is ethically sound and competitively priced. We take...
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REINSURANCE
Climate-related events are increasing in severity and frequency, greatly impacting poorer economies in the Asian region.
INSURANCE - General
Like the motor manufacturing sector, the motor insurance sector has been employing more and more technology into its processes, from purchasing, to claims assessment and settlement.
The enduring and growing tension between China and the USA has caused some to wonder whether the ultimate outcome of the rivalry could be war.
This year’s 19th SIRC will be an all in-person event following the overwhelming success of last year’s event.
The reinsurance sector in Vietnam has seen some interesting changes in the past year, with PVI Re making its way to the top of the pile of domestic reinsurers.
Motor insurance was one of the lines of business that was most affected during the COVID-19 lockdowns. We take a look at the numbers and find out what has happened to motor insurance.
Now that the COVID restrictions have finally been lifted, we take a look at what the opened borders will mean for motor insurance.
We spoke to Hong Kong Insurance Authority’s Mr Clement Cheung about the regulator’s broad ambitions to grow the insurance industry.
The reconnection of Greater Bay Area cities and the accelerating flow of visitors from mainland China, particularly Guangdong province, provide Hong Kong insurers with an opportunity to recover a vast customer base.
The Hong Kong general insurance industry performed well during the pandemic but it faces ongoing challenges – including from reinsurers – and would like to receive regulatory support.
The latest phase of China’s motor insurance reforms were launched in April 2023 and set the range of independent pricing coefficient for property insurers at 0.65-1.35.
The growth rate of health insurance premiums at 0.06% year-on-year is lower than that of personal insurance overall at 2.78% in China last year, significantly lower than the total industry premium growth rate of 4.58%.
Technology has revolutionised industries from banking to ecommerce, allowing consumers to transact with service providers frictionlessly.
Recent research highlighted that a quarter of businesses worldwide feel unprepared to manage the impact of climate change.
The Federal Budget 2023-2024 lacks insurance initiatives for rising premiums and hard-to-place insurance in flood and bushfire-prone areas but introduces various climate change and disaster response measures.
Chinese electric vehicle manufacturer BYD has been given approval by the CBIRC to acquire 100% of financially-stricken online P&C insurer E An.
Thailand’s insurance regulator, the Office of Insurance Commission (OIC), has launched an online arbitration system to resolve disputes.
AIA has launched AIA CarePass, a market-first, comprehensive curation of premium medical support services that integrates premium medical resources from across the Greater Bay Area for eligible high-end customers.
Reliance General has launched a product for gig workers that covers health, personal accident and accidental death and mobile ‘phone damages.
MSIG Malaysia has launched a new motor add-on for selected comprehensive private car insurance called EZ-Mile.