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General Insurance Company of the Year - 21st Asia Insurance Industry Awards 2017: Apollo Munich Health - This Award inspires us to reach new milestones
Awards are great! They are a mark of recognition given in honour of an achievement! Awards enhance a company’s brand reputation, instil confidence in customers about the quality and professionalism, and help employees take pride in their work.

Source : AIR | 01 Jan 2018
Japan: Govt mulls move to cover some costs of transplants overseas
The Ministry of Health, Labour and Welfare is considering a measure to cover part of expenses shouldered by patients who undergo organ transplants abroad, so as to ease their financial burden.

Source : AIR | 01 Jan 2018
Retirement age is just another number
We consider the future of work in the 100-year life – extending retirement age, or scrapping it completely, as one insurer has done.

Source : AIR | 01 Jan 2019
Cautious expansion
Taiping Reinsurance general manager Polly Ho gives us some insights into the company’s plans and strategies for the region and beyond.

Source : AIR | 01 Jan 2019
Asia: Typhoon Talim strikes Japan
Another major typhoon hit northern Asia last month. Typhoon Talim made landfall in Kagoshima Prefecture on the southern tip of Kyushu Island, Japan, on 17 Sept with maximum sustained winds at 111 km/h (79 mph)—the equivalent of a weak Category 1 hurricane on the Saffir-Simpson Scale, said catastrophe modeling firm AIR Worldwide. It maintained its intensity as it traveled northward across Shikoku, Japan’s main island of Honshu, and Hokkaido through 19 Sept.

Source : AIR | 01 Oct 2017
Japan: Insurers turn to disability income protection for profits
Japanese insurers are putting more focus on disability income insurance policies, including those designed for companies to offer protection against the loss of income due to illness or injury.

Source : AIR | 01 Oct 2017
Taiwan: Japan risk exposure tallied in wake of N Korean missile test
Taiwan’s risk exposure to Japan was tallied at NT$553.2 billion (US$18.4 billion) around the end of August, according to the Financial Supervisory Commission.

Source : AIR | 01 Oct 2017
Nat CAT- The 'calm' before the year-end storm
While the conversation this time last year was about hurricanes Harvey and Irma, Asia at this time is reeling from losses far closer to home. As we go to print, Mother Nature is wreaking havoc across multiple countries - with typhoon Jebi, super typhoon Mangkhut and Kerala grapples with its worst floods in a century. We take stock of the Nat CAT—prior to the upcoming deluge.

Source : AIR | 01 Oct 2018
Risk in Japan
In the run-up to PARIMA’s inaugural Tokyo conference in October, Asia Insurance Review gets an update from one of its Japanese members, Toyota Tsusho Corporation general manager, insurance department, food and consumer services division Takehisa Banno, who joined the risk management body this year.

Source : AIR | 01 Oct 2018
Product Bites
- Japan: ‘Minpaku’ products come to market
- Hong Kong: Prudential announces multi-claim critical illness protection solution
- Singapore: Etiqa launches personal cyber insurance
- Global: Aon offers $350m reinsurance capacity for new silent cyber facility
- Global: Seamless space insurance from XL Catlin
Source : AIR | 01 Oct 2018
Japan: Local units of foreign players are now buyout targets
Midsize foreign-affiliated life insurers in Japan are becoming acquisition targets.

Source : AIR | 01 Nov 2017
Emerging risks to keep an eye on
The political risk sector today is uncertain. For most people, the situation can be distressing and lead to rash decisions. Yet, for (re)insurance companies specialising in Political Risk and Trade Credit, this uncertainty is their daily business. Mr Gregory King-Underwood from Guy Carpenter elaborates.

Source : AIR | 01 Nov 2017
Interview with a Regulator: Supporting economic growth and protecting policyholders
As a curtain raiser to this month’s IAIS Annual Conference in Kuala Lumpur, we present an exclusive interview with Mr Hiroshi Ota, a leading Asian regulator as Deputy Commissioner for International Affairs, Japan’s Financial Services Agency (FSA), and Vice Chair of the EXCO of IAIS.

Source : AIR | 01 Nov 2017
InsurTech Fever Hits Japan
There is plenty of room for new and disruptive tech in Japan’s insurance industry, particularly in the health space, as the market grapples with a rapidly ageing population and a rising trend of obesity. The InsurTech Japan Roadshow, organised by InsurTech Asia Association in October, brought a cluster of eight InsurTech start-ups – from across Australia, Belgium, Canada, Germany, Singapore, Taiwan, UK and the US – to Tokyo for a deep dive discussion on the opportunities that these new-age disruptors present. Here are some key takeaways.

Source : AIR | 01 Nov 2017
Marine weathers the storm
With our Marine Insurance Conference in Hong Kong this month, we take stock of what IUMI achieved in Tokyo in September. Amidst numerous challenges, marine insurers are still hopeful with technology having a huge impact.

Source : AIR | 01 Nov 2017
Japan: Regulator warns of Initial Coin Offering risks
Japan’s Financial Services Agency (FSA) has issued an advisory warning to users and business operators about the risks of Initial Coin Offerings (ICOs), or digital token sales.

Source : AIR | 01 Dec 2017
Japan: Govt to set up national health insurance database by 2020
The Health Ministry plans to assign an identification number to each person covered by Japan’s universal public health insurance system. The changeover will affect more than 100 million insured people.

Source : AIR | 01 Dec 2017
Six Steps to Improve Insurance Customer Engagement
Everyone knows the story: The more engaged a policyholder, the lower the churn. The lower the churn, the lower the costs – a boon for insurer and policyholder alike. RGA Japan’s Chief Marketing Officer Jaqui Wassenaar shares tips on engaging the customer.

Source : AIR | 01 Dec 2017
Japan: Insurers launching more offerings to safe drivers
Insurers are offering lower premiums on an increasing number of new auto insurance products, in cases where the driver meets certain safety criteria.

Source : AIR | 01 Feb 2018
Rajesh Sud: 17 going on 18!
Mr Rajesh Sud, Executive Vice Chairman & MD of Max Life Insurance Company, is among the rare breed of CEOs to have survived in the top management space for over 17 years in one of India’s leading life insurance companies. He has seen the development of the life industry from close quarters since its liberalisation in 2000 and gives us his perspective of the industry.

Source : AIR | 01 Mar 2018
Asia: InsurTech investments surging strong
InsurTech funding in 2017 rose 36% from the year before to reach US$2.3 billion, according to the latest data published by Willis Towers Watson.

Source : AIR | 01 Mar 2018
Japan: More age-related insurance products expected
Insurance companies in Japan are likely to design more new products targeting age-related afflictions as the population ages further.

Source : AIR | 01 Mar 2018
Shuzo Sumi named as IIS' Hall of Fame Laureate
The International Insurance Society (IIS) has announced Mr Shuzo Sumi, Chairman of the Board of Tokio Marine Holdings, as the 2018 Insurance Hall of Fame Laureate. Mr Sumi will be honoured at the 9 July gala awards dinner taking place at the IIS Global Insurance Forum at the InterContinental Hotel in Berlin, Germany, 8-11 July.

Source : AIR | 01 Mar 2018
Look out for these what-if scenarios - WEF's 10 potential future shocks
The growing complexity and interconnectedness of our global systems can lead to feedback loops, threshold effects and cascading disruptions. Sudden and dramatic breakdowns – future shocks – become more likely, according to the Global Risks Report 2018 published by the World Economic Forum.

Source : AIR | 01 Mar 2018
Japan: Working group to look into issue of uninsured tourists
Plans are underway to help hospitals and other medical institutions avoid payment and other problems related to tourists, including unpaid bills, government sources have said.

Source : AIR | 01 Apr 2018
Product Bytes

Source : AIR | 01 Apr 2018
Japan: MS&AD issues first CAT bond against flood and typhoon risks
Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance, which are subsidiaries of MS&AD Insurance Group Holdings, have jointly sponsored the first catastrophe bond in the non-life insurance industry to provide protection against flood risks as well as typhoon risks in Japan, according to a corporate statement.

Source : AIR | 01 May 2018
Japan: Export insurer to offer dollar-denominated trade cover
Nippon Export and Investment Insurance (NEXI) is gearing up to offer dollar-denominated trade insurance to Japanese banks and trading houses, to better protect them from foreign exchange swings and thereby boost infrastructure-related exports.

Source : AIR | 01 Jun 2017
"Disciplined softening"
Mr Jong-Gyu Won of Korean Re gives an overview of the April 2017 renewals in Japan, North America and India, highlighting the pressures on prices as reinsurance capacity remains affordable.

Source : AIR | 01 Jun 2017
Japan: Insurers consider backing off from loans and investments to coal sector
Japanese insurance companies are mulling limits on coal-fired power financing, reported Bloomberg.

Source : AIR | 01 Jun 2018
Australia: Insurance mart Down Under attracts Asian interest
Asian life insurers, led by those from Japan, are buying up their Australian peers amid strong prospects for the country’s insurance market driven by a rising population.

Source : AIR | 01 Jul 2018
Japan: Insurers' operations take off with drones
Non-life insurance companies are adding drones to their damage evaluation repertoire that will give them a bird’s-eye view of accidents and disasters.

Source : AIR | 01 Jul 2018
Asia Pacific: Regional giants to drive global life market
The giant emerging markets of China and India will drive global life premium growth in the coming years, forecasts Swiss Re Institute in its sigma report titled “World insurance in 2016: the China growth engine steams ahead”.

Source : AIR | 01 Aug 2017
Japan: More new products targeted at dementia-related issues
Insurance policies covering various expenses relating to dementia have been launched in Japan as more people are suffering from the illness in the rapidly ageing country, reported Kyodo News Agency.

Source : AIR | 01 Aug 2017
Japan: Mitsui Sumitomo taps AI to analyse creditworthiness
Mitsui Sumitomo Insurance will analyse companies’ financial statements with artificial intelligence (AI) in tests aiming to reduce the time it takes its employees to assess firms’ creditworthiness, reported The Mainchi.

Source : AIR | 01 Aug 2018
GIAJ: Delivering insurance with the "Omotenashi" spirit
Amid all the news of change and disruption every day, there are some things in Japan that will remain unchanged, said Mr Noriyuki Hara, Chairman of the General Insurance Association of Japan (GIAJ), as the association celebrates its 100th anniversary this year.

Source : AIR | 01 Sep 2017
Japan: Life insurers unhurried about investing in foreign bonds
Japanese life insurers have stalled over plans to invest heavily in foreign bonds in the current fiscal year ending March 2018, as yields remain limited while the costs of covering currency exchange risks have grown.

Source : AIR | 01 Sep 2017
Japan: AI at Tokio Marine to enable same-day insurance pay-outs
Japanese insurance giant Tokio Marine will begin same-day insurance pay-outs for automobile claims as soon as 2020, shortening the claims process by two to three weeks. Pay-outs could be made within 12 hours.

Source : AIR | 01 Sep 2018
Product Bites
- Australia: Chubb announces flight delay insurance
- Japan: Swiss Re Corporate Solutions launches tsunami-derivative solution
- Malaysia: New protection solution introduced for migrant workers
- Singapore: Great Eastern partnership to offer industry-first insurance to freelance caregivers
- Global: Now Health International’s innovative mobile pass enhances customer experience
Source : AIR | 01 Sep 2018

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