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Automotive industry most impacted by product recalls - AGCS
Product-related risk is one of the biggest perils facing businesses today, with recall exposures having increased significantly over the past decade. And it is the automotive sector that is most impacted by product recalls, followed by the food and beverage sector and then IT/electronics, said Allianz Global Corporate & Specialty (AGCS) in a recent report, based on analysis of claims.

Source : AIR | 01 Jan 2018
GIC Re: Underwriting its future
2017 was an eventful year for GIC Re. In an interview with Asia Insurance Review, Mrs Alice G Vaidyan, Chairman-cum-Managing Director, GIC Re, assesses their achievements during the year and their plans for the years ahead.

Source : AIR | 01 Jan 2018
Which will win, cybercrime or cyber insurance?
Rapid digitalisation and growth of online culture in India has also brought in sophisticated cybercrime. Asia Insurance Review speaks to Mr Sasikumar Adidamu, Chief Technical Officer, Bajaj Allianz General Insurance, to understand how insurers can play an important role in developing a comprehensive cybersecurity framework, including cyber insurance, to tackle cybercrime.

Source : AIR | 01 Jan 2018
Digital transformation in Indian insurance
Can the online model be a panacea for tapping the untapped insurance potential and eliminating insurance distribution bottlenecks in India? We speak to two new-age insurers to understand more about the digitalisation of the Indian insurance landscape.

Source : AIR | 01 Jan 2018
Is Indian healthcare healthy?
The Indian healthcare system is a study of contrasts. With its strengths and weaknesses, it rolls on to provide adequate healthcare for 1.3bn Indians.

Source : AIR | 01 Jan 2019
Goodbye 2018, hello again in 2019
We swept the newsmakers and headline hoggers for 2018 and highlight some of the significant insurance disruptions, start-ups and InsurTech trends that will bear watching in 2019.

Source : AIR | 01 Jan 2019
General insurance bucks the slowdown in the economy
India’s non-life sector continues its steady progress and could exceed $280bn in gross premiums in 2019-20.

Source : AIR | 01 Jan 2020
Insurance and resilience building for natural disaster preparedness
Every time there’s a catastrophic natural disaster in India, it is proclaimed to be once in a 100 year event. ‘It won’t affect us’ is the common refrain and life goes on, until the next disaster strikes.

Source : AIR | 01 Jan 2020
Plenty of potential and promise ahead
GIC Re’s Reena Bhatnagar talks about the progress made in climate change, the corporation’s recent loss and performance.

Source : AIR | 01 Jan 2020
Is India ready to get 'old'?
As India’s demographic dividend wanes and the nation grows older, the health insurance industry will have an important role in keeping India’s silver generation healthy.

Source : AIR | 01 Jan 2020
New health insurance regulations - a good prescription
Peak Re’s Janice Ye explains what the CBIRC’s new revised health insurance regulations mean for Chinese health insurers and the health insurance customers.

Source : AIR | 01 Jan 2020
Australia: New approaches needed with changing claim trends
Claim trends are changing among young policyholders. The first private health insurance claims filed by young women today is predominantly a mental health claim while women having their first baby are no longer the hook it once was to buy private health insurance.

Source : AIR | 01 Oct 2017
Finalists of Hong Kong Insurance Awards 2017
The Hong Kong Federation of Insurers (HKFI), the organiser of the Hong Kong Insurance Awards 2017 has announced the top three finalists for each of the 15 categories of the Awards.

Source : AIR | 01 Oct 2017
World's first marine insurance blockchain platform launched
EY and Guardtime has announced the world’s first blockchain platform for the marine insurance sector. The platform was launched in collaboration with A.P. Møller-Maersk A/S, ACORD, Microsoft, MS Amlin, Willis Towers Watson and XL Catlin and after a 20-week proof of concept.

Source : AIR | 01 Oct 2017
Robotics and eldercare's future
In this second of a four-part series on ageing in Asia, Mr Greg Goodfliesh of RGAx Asia explores the growing impact of robotics.

Source : AIR | 01 Oct 2017
Disrupting the CIO
The role of the Chief Information Officer was brought into question at Asia Insurance Review’s 6th CIO Technology Summit. He now needs to be an instigator, an integrator and an innovator.

Source : AIR | 01 Oct 2017
Helping clients to grow in profitable areas
In the digital world, many intermediaries face a bleak future and so they would have to reinvent themselves. While reinsurance brokers have a professional and important role to play in the industry, they are not immune to the changes around them. We speak with Mr Tony Gallagher, recently appointed CEO of Guy Carpenter’s Asia Pacific region, about its growth in the retrocession business, what its clients want, its plan for technology innovation and market outlook.

Source : AIR | 01 Oct 2017
Cargo still sailing on rough seas - but land ahoy!
A year ago, the container shipping industry was in the doldrums with oversupply of capacity and lay-up of 7% of the global fleet in capacity terms. Predictions were that the market would only fully recover in 2018. One year on, we speak to some insurance players for their sentiments on the marine cargo market.

Source : AIR | 01 Oct 2017
Standard Club: A P&I perspective
We speak with Mr Akshat Arora, Senior Surveyor at the Loss Prevention division of the Standard Club in Singapore, for a P&I club perspective.

Source : AIR | 01 Oct 2017
It's time to join the cyber security conversation
Highly sophisticated cyber criminals are posing an increasing and significant threat to businesses. Mr Chris Moyer of DXC Technology discusses the steps insurers can take to manage these risks.

Source : AIR | 01 Oct 2017
First Malaysian InsurTech Collab Takes Off
KATSANA is on a roll, recently inking MoU with several insurers including Allianz Malaysia, Axiata Business Services and both Etiqa Insurance and Etiqa Takaful, to collaborate on boosting the adoption of usage-based insurance (UBI) in Malaysia. Managing director and co-founder Syed Ahmad Fuqaha shares his plans with us.

Source : AIR | 01 Oct 2017
The Future of Consumer Insurance: Diverse, embedded and driven by global data platforms
Mr Hugh Terry of The Digital Insurer urges insurers to create ecosystems of the future with consumer insurance being diverse, embedded and driven by global data platforms.

Source : AIR | 01 Oct 2017
Genetics and Life Insurance: A view into the microscope of regulations
The use of genetic information for life, disability, critical illness and long-term care insurance is likely to increase in relevance, says Mr Ronald Klein of The Geneva Association.

Source : AIR | 01 Oct 2017
Making insurance more ubiquitous
Mr David A. Chan from Willis Towers Watson says we live in an inimitable age and this can help make insurance a more ubiquitous part of our daily lives.

Source : AIR | 01 Oct 2017
Insurance in the time of disruption
Mr Abhishek Bhatia of FWD Singapore says our industry is on the edge of itself where evolving technology and changing consumer behaviour is reshaping how we do business.

Source : AIR | 01 Oct 2017
Insurance: the future will be transformed by human capital
With lots of technological ‘disruptions’ happening in the insurance industry, it needs to look at how to ‘insure’ its own future. Asia Insurance Review speaks to some insurance HR professionals for their views on how best the industry can marshal its present and future human resource to its best advantage.

Source : AIR | 01 Oct 2018
An agricultural world-first
AgriTask and Mapfre recently launched a ground-breaking innovation for the agricultural sector, which would allow for much improved efficiency in a complicated industry. We spoke to AgriTask CEO Israel Fraier about the unique capabilities of this platform.

Source : AIR | 01 Oct 2018
Traffic violations could lead to spikes in motor insurance premiums
As penalties for traffic violations rise steeply, Insurance Regulatory and Development Authority of India has been looking at how to rein in risky driving by linking traffic violations with vehicle insurance premium.

Source : AIR | 01 Oct 2019
Greying China and healthcare interventions
As China grows ‘old’, the demographic shift in the population calls for a transition in the country’s healthcare system. To what extent would intervention by the Chinese government be successful?

Source : AIR | 01 Oct 2019
Evolving to stay relevant
Mr Joseph Kwok of Financial Planning Association of Singapore (FPAS) looks at the need for financial planners to stay relevant as customers become more tech savvy and sophisticated in their protection planning needs.

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
Innovation in insurance: Are we doing enough?
Innovation is considered the only insurance against irrelevance. Yet, the insurance industry appears to be taking its time with innovation, while other industries – from transportation to retail – have been moving full steam ahead. Are insurers taking their own industry for granted? Mr Kenneth Koh, Director of Insurance for SAS’ Global Industry Practice shares his views.

Source : AIR | 01 Nov 2017
Digital transformation: A journey to stay relevant
This interesting take depicting a conversation between DXC Technology and its client, Mr Anshul Srivastav, CIO, Union Insurance Company P. S. C., highlights the role of cloud, digital transformation and its benefits.

Source : AIR | 01 Nov 2017
InsurTech: Hype or Substance?
Whether InsurTech is hype or substance remains to be seen. Particularly in Asia, the value that disruptors bring largely depends on the respective markets’ needs, says Mr Stephen Goldstein, Country Director of US Pivot Ventures, on the sidelines of the InsureTech Connect (ITC) 2017. Here he shares some of the key takeaways – from the world’s largest InsurTech gathering of technopreneurs, investors and insurance industry incumbents – that can be applied to the InsurTech ecosystem in Asia.

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
Health & Retirement: Personalised treatment - One size does not fit all!
Drugs are mostly prescribed on a “one-size-fits-all” basis, ignoring the fact that everyone is different. This was a key focus at the recent Singapore Actuarial Society’s Health and Retirement Conference.

Source : AIR | 01 Dec 2017
The capital efficiency gap
Underinsurance is a problem, but not all of it represents a protection gap. Mr Greg Lowe at Aon and Mr George Attard at Aon Benfield Analytics International explain.

Source : AIR | 01 Dec 2017
Insurers and InsurTechs - A symbiotic partnership
Asia Insurance Review speaks to four leading Indian InsurTech companies to find out how they define their role in the Indian insurance ecosystem.

Source : AIR | 01 Dec 2017
Sri Lanka: Innovation can make a difference
With a free universal healthcare system, Sri Lanka has achieved successful health indicators. It also faces an increasing burden of non-communicable diseases, which without a wide base of health insurance, becomes quite challenging.

Source : AIR | 01 Dec 2019
Nepal - A long way to go yet
Health insurance in Nepal is still in its infancy covering around 10% of the population. Overall about 15-18% of Nepalese people have some form of insurance cover.

Source : AIR | 01 Dec 2019
Banking crisis and insurance industry - view from India
Minor aberrations apart, the recent crisis in India’s banking industry does not appear to have impacted the Indian insurance industry.

Source : AIR | 01 Dec 2019
Will optimism transform into opportunities?
The recent relaxations in its financial regulations take China a step closer to an open economy. The relaxations, which touch the insurance industry too, have resulted in a lot of optimism for the foreign insurers.

Source : AIR | 01 Dec 2019
RegTech embedded in insurance transformation
Insurers are often hindered by the need to address ongoing regulatory challenges and associated rising compliance costs. Mr Paul Brenchley and Mr Murray Raisbeck from KPMG look at this issue.

Source : AIR | 01 Feb 2018
Getting to know your customer with Big Data
A century ago, the world’s most valuable resource was oil. Today in the digital era, it is data. Harnessing the power of data as an asset has become one of the key strategies for insurers. Dr Yuhui Yao of FWD Group elaborates.

Source : AIR | 01 Feb 2018
A Big Data revolution in Supply Chain Financing - Pipe dream or new paradigm?
While data sophistication increases exponentially in most industries, one industry remains so plagued by data scarcity that it is rejecting a whopping 57% of the requests of its Small and Medium Enterprises (SME) clients. That industry is trade finance. Ms Caroline Paulhan of Euler Hermes explores.

Source : AIR | 01 Feb 2018
Securing the edges of the insurance enterprise
Insurance companies must take a new approach to protect the wealth of personal data streaming in from vehicles, smartphones and a myriad of IoT devices. Mr Chris Moyer of DXC Technology elaborates.

Source : AIR | 01 Feb 2018
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
CII aims to help bridge Indonesia's 'Insurance Gap''
The Chartered Insurance Institute highlighted the opportunity Indonesia’s ‘Insurance Gap’ presents to the insurance profession in Indonesia, if it can build greater capacity and awareness.

Source : AIR | 01 Mar 2018
India: Insurance mart could expand by 230% to US$280 bln in 3 years
India’s Vice President M Venkaiah Naidu has said that the domestic insurance industry is expected to grow to US$280 billion by 2020 from $84.72 billion in 2017 as the country is poised for higher economic growth.

Source : AIR | 01 Mar 2018
Singapore: InsurTech newbie provides cover for Internet economy
Singapore-based InsurTech company Axinan is creating products that are easily integrated into online marketplaces and platforms. It is focused on building innovative, high frequency/low premium services for the Internet economy.

Source : AIR | 01 Mar 2018
Cybercrimes make healthcare sick
Modern healthcare industry is highly evolved. However, with petabytes of sensitive and vital data, it has become vulnerable to cyber-crime prowlers. Employees have emerged as the weakest link in the chain. Continuous training and reskilling of human resource, at all levels can thwart at least 95% of cyber-attacks.

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
Top connected risks trends in 2018 - Russell Group
The relationship between public capital and private capital, macroeconomic risks and protectionism and data privacy are among the key connected risks trends that corporates need to be aware of in 2018, says a white paper from risk management and services software company Russell Group.

Source : AIR | 01 Mar 2018
Product Bytes

Source : AIR | 01 Mar 2018
Lloyd's: Seeking sustainable pricing for all
On the sidelines of the 11th India Rendezvous 2018 in Mumbai, Ms Inga Beale, CEO of Lloyd’s of London, shared with us her thoughts on the global (re)insurance markets, especially in emerging Asia, and their focus on achieving a sustainable pricing for all.

Source : AIR | 01 Mar 2018
India's actuarial pioneers
K A Pandit Consultants & Actuaries is India’s oldest actuarial firm and it is celebrating its 75th Anniversary this year. The firm is today a major player in the Indian market where it operates in the life insurance, non-life insurance and employee benefits space, and is also a member of Abelica Global, a global consortium of actuaries. We speak to Mr Dharmendra K Pandit, partner, on the journey so far and the role of actuaries in today’s highly automated industry.

Source : AIR | 01 Apr 2018
AXIS Re: Committed to Asia
AXIS Re combines the agility of a mid-sized company with the sophistication of a global player. Set up in 2001, it is now emerging as a serious player on the Asian reinsurance turf as well. Asia Insurance Review speaks with the new CEO of AXIS Re, Mr Steve Arora, to understand more about the reinsurer’s Asian commitment.

Source : AIR | 01 Apr 2018
Go Big (data) or go home
The 3rd Asia Conference on Big Data and Analytics for Insurance heard industry experts exchange insights aplenty from strategy and case studies, to recruitment and even a take glimpse at the next data frontier. Here are our top 10 takeaways.

Source : AIR | 01 Apr 2018
What's next for InsurTech?
Most insurance companies have now come to accept the importance of digital and have sought to incorporate some form of InsurTech as support and enhancement for their operations. But is it sufficient? Can the transformation agenda from analogue to digital progress purely by incorporating digital as a business support function? Or should the concept of integrating InsurTech look beyond the current paradigm of performance metrics and utilise new, forward-looking ones to allow digital as a separate business unit to be judged on its own worth?

Source : AIR | 01 Apr 2018
Embarking on the digital trek to healthy growth
Generali Thai’s Korakrit Khumruangrit rues the facts that Thailand’s non-life insurance market has seen weak growth since 2014 - but says that 2018 should improve as the government ramps up efforts to transform the economy.

Source : AIR | 01 May 2018
Insurance Europe issues GDPR data breach notification template
Insurance Europe, the European insurance and reinsurance federation, has issued a template for reporting data breaches to the UK Information Commissioner’s Office (ICO) under the General Data Protection Regulation (GDPR).

Source : AIR | 01 May 2018
UnitedHealth and Humana launch blockchain pilot
Two of the largest health insurance providers in the US announced in early April that they would pursue a blockchain pilot aimed at improving the quality of healthcare data.

Source : AIR | 01 May 2018
News - AI creates new risks, even as it brings benefits to businesses - Allianz
The widespread implementation of artificial intelligence (AI) applications brings many advantages for businesses, such as increased efficiencies, fewer repetitive tasks and better customer experiences. However, in the wrong hands, the potential threats could easily counterbalance the huge benefits, as AI is vulnerable to risks especially cyber, said Allianz Global Corporate & Specialty’s (AGCS) The Rise of Artificial Intelligence: Future Outlook and Emerging Risks report.

Source : AIR | 01 May 2018
Cognitive computing holds promise for life insurance customer service
DXC Business Process Services’ Wayne Harrington argues that bringing cognitive computing to customer service will allow insurers to deliver a level of digital service comparable to that of any other industry.

Source : AIR | 01 May 2018
Dancing in the dark - AI fights the unknown unknowns
Darktrace’s Mr Sanjay Aurora digs deep into the use of artificial intelligence and machine learning to combat cyber threats that could have applications in the insurance sector.

Source : AIR | 01 May 2018
Swiss Re India: Think big, get innovative and go digital
Indian insurers want numbers! Both literally and figuratively! Expectations of the Indian customer are ever-evolving. She wants simple, one-click innovative customised solutions. Insurers can offer these, the digitalisation way. We speak with Ms Kalpana Sampat, CEO, Swiss Re India branch, and Mr Jonathan Anchen, Senior Vice President, Swiss Re Institute, to elicit their views on how to exploit the vast potential that the Indian insurance market has to offer but is untapped as yet.

Source : AIR | 01 Jun 2017
Winning the InsurTech game
The way in which insurers engage with InsurTech startups will be a major factor separating the winners from the losers, said speakers at Asia Insurance Review’s first InsurTech Summit.

Source : AIR | 01 Jun 2017
Non-life: Market, (un)disrupted
The disruption discussion has permeated every corner of the insurance world, and Taiwan’s market is no different. How much innovation has taken root? Are local insurers ready to face disruptors? Should regulations be relaxed? Market leaders share their views.

Source : AIR | 01 Jun 2017
Startup seeks to re-write tradition
Diabetic patients have traditionally been shunned by underwriters, but things are about to change – if they have not already started. Health2Sync’s proprietary platform empowers patients to manage their condition, while giving insurers a new way to assess risk and offer protection to a demographic previously considered uninsurable, says CEO Ed Deng.

Source : AIR | 01 Jun 2017
A simpler world of insurance
Asia Insurance Review speaks with Digit Insurance appointed actuary Adarsh Agarwal on its mission to create a new experience for neo consumers – a simpler world of insurance.

Source : AIR | 01 Jun 2018
There's more to be done
A look at how the insurance industry is responding to the growing spectre of climate change as it brings in more devastating natural catastrophes.

Source : AIR | 01 Jun 2018
India: Call for better crop data to attract reinsurers

Source : AIR | 01 Jun 2018
New Zealand: Blockchain solution being developed for insurers
New Zealand’s largest bank, ANZ, and IBM are working with Suncorp New Zealand to develop a blockchain solution for the insurance industry that will help make the data transfer and payment reconciliation process faster and more transparent between brokers and insurers.

Source : AIR | 01 Jun 2018
Thailand: Regulator to set up platform to develop InsurTech
The Office of Insurance Commission (OIC) will set up and administer the Insurtech Centre of Thailand (ICT) soon for data collection, technology exchange and insurance product development.

Source : AIR | 01 Jun 2018
Study says insurance industry dangerously unprepared for extreme weather
As historic flooding caused by climate change devastated communities in Canadian states of New Brunswick and British Columbia, new research from the University of Waterloo revealed that the insurance industry has not considered a changing climate in their practices, putting homeowners at financial risk.

Source : AIR | 01 Jun 2018
Marketing insurance in the digital age
Disruptions may come and disruptions may go but someone still has to market insurance products and promote the brand. Welcome to the hard-boiled world of marketing, advertising, promotion and corporate communications in the untamed digital frontier of the future.

Source : AIR | 01 Jun 2018
Risk management not keeping pace with tech advances - Marsh/RIMS
Emerging technologies continue to change rapidly the way businesses operate and interact with customers, but risk management processes are not keeping pace with the associated risks from these disruptive technologies, said a recent report published by Marsh and RIMS, the risk management society.

Source : AIR | 01 Jun 2018
How blockchain could revolutionise the insurance industry
It seems clear that there are many applications for the use of blockchain technologies in the insurance sector. Mr Faisal Siddiqi of DXC Technology outlines some of the potential benefits - and looks at what the future might hold in store.

Source : AIR | 01 Jun 2018
AI: Helping people become more human
Some have viewed companies’ adoption of artificial intelligence (AI) with reluctance, suspicion and fear of being displaced. But software startup Flamingo says the use of AI can make humans more hu-man with its efficiency outcome.

Source : AIR | 01 Jul 2017
Insurance CFOs' challenge - Maximising technology for business
Moore Stephens Advisory Services Managing Director Patrick Rozario reflects on the 11^th Asian Insurance CFO Summit 2017, and says there is now a clear demand and wish for a greater degree of interface across both the transactional and back-office operations.

Source : AIR | 01 Jul 2017
Putting the "auto" in automobile
The automobile industry is set to be changed drastically with the introduction of automated vehicles. We sat down with Mr Richard Jinks, Head of Portfolio Solutions – Insurance at XL Catlin, who has been working with leading robotics researcher Oxbotica on perfecting the formula for driverless cars.

Source : AIR | 01 Jul 2017
Delivering real solutions through innovation
Ms Regine Lai, Managing Director of Insurance Republic, is a Singaporean who has made her entrepreneurial mark across Asia and Europe over the last 10 years; specialising in brand consulting for retail, banking & finance and insurance entities. She recently led the launch of Insurance Republic’s new app, my-insurer.

Source : AIR | 01 Jul 2017
Blurred lines: Cyber insurance and the risks that come with it
Cyber risks are everywhere as the world becomes more digitalised. Ms Cecilia Chang of GC&C Asia says while traditional policies may cover some cyber risks, there are serious gaps in that cover. A comprehensive cyber insurance solution is needed in such cases.

Source : AIR | 01 Jul 2017
Disrupting catastrophe modelling
Risk Spatial founder Nick Hassam says Open Modelling and Big Data can disrupt the catastrophe modelling process – but who will implement it? founder Nick Hassam says Open Modelling and Big Data can disrupt the catastrophe modelling process – but who will implement it?

Source : AIR | 01 Jul 2017
Insurance technology trends and success factors for business transformation
Mr Daniel Angelucci of DXC Technology explains the two trends that will shape insurance technology and insurance companies for the next few years.

Source : AIR | 01 Jul 2017
Bangladesh farmers can now breathe easy
Bangladesh suffers largely from the vagaries of nature with frequent droughts, flooding and storms that take a heavy toll on the farming community, whose livelihood is affected causing extreme distress and social unrest. We speak to Messrs Arup Chatterjee and Md Mortaza Golam from ADB on the impact of the crop insurance scheme and the experiences from the market.

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
South Korea: Insurers jump on authentication service wagon
At least 15 insurers, including Kyobo Life Insurance and KB Insurance, are providing an authentication service by partnering with Kakao Pay, which is a popular payment service. They are introducing the service before the abolishment of the public online certification system.

Source : AIR | 01 Jul 2018
GIF 2018 - Heading for the innovation transformation
Over 500 insurance professionals from around the globe are expected to descend on Berlin in July 2018 for this year’s Global Insurance Forum, with the timely theme of ‘The Innovation Transformation’.

Source : AIR | 01 Jul 2018
The case for insurance tech interconnectivity
Insurers are currently facing a series of challenges on the tech front and Equinix global head of insurance James Maudslay says the conflation of these issues will impact the industry significantly.

Source : AIR | 01 Jul 2018
Where does the pursuit of digitalisation lead?
The insurance industry’s pursuit of digitalisation continues even as the hype around disruptors fades. But where are insurers’ investment dollars being channelled and what exactly are they looking to achieve? Are some parts of the insurance value chain more equal than others?

Source : AIR | 01 Jul 2018
Non-communicable diseases: When death isn't catching
Non-communicable diseases do not make headlines like infectious epidemics but they are responsible for over 70% of deaths every year globally. China has the ‘dubious’ distinction of being the global leader in non-communicable diseases.

Source : AIR | 01 Jul 2019
MSIG: Speed in the hour of need
MSIG Asia CEO Alan Wilson says helping customers when they are most vulnerable is key and is what runs through the insurer’s DNA. He explains how the company’s latest digital initiative promises haste in its claims service, so its insureds may be relieved of unnecessary stress in the wake of an accident.

Source : AIR | 01 Aug 2017
The CEO's guide: Leading the digital transformation
We bring you the crucial tips that every CEO today should have to successfully implement digital change as suggested by the Boston Consulting Group.

Source : AIR | 01 Aug 2017
Innovating for sustainable aquaculture growth
Asia is home to several of the world’s largest aquaculture production countries including China, Indonesia, India, Vietnam, Philippines, Bangladesh and South Korea. Mr Yu Deng of Swiss Re discusses the expanding sector and how insurance programmes can be tapped for its sustainable growth.

Source : AIR | 01 Aug 2017
CAT resilience: Cementing the cornerstones
Experts and regulators at the 15th Conference on Catastrophe Insurance in Asia exhorted the industry and countries alike to collaborate and beef up disaster risk management in the face of increasingly volatile risks.

Source : AIR | 01 Aug 2017
Asia: CIOs to forge ahead on InsurTech battleground
The rise of InsurTech has led insurers to change their approach to managing business. The large incumbents face competition from startups springing up across the globe, and need to decide whether to accept them as partners or rivals.

Source : AIR | 01 Aug 2017
Asia: SMART pensions for ageing populations
The pensions industry is facing a massive challenge. Across Asia, populations are ageing as genetics and technology add years of life, and emphasis is placed on their healthcare. Regulators are cognisant that the pension schemes of yesteryear are no longer sustainable and need to be overhauled. At the same time, affluence has created a higher demand for sophisticated retirement planning and solutions.

Source : AIR | 01 Aug 2017
Thailand: Online car insurance broking startup targets US$3 bln premiums in 1st year
Carpool Insurance Broker, a Thai InsurTech firm, is aiming for THB100 million (US$3 million) of premiums during its first year of operations.

Source : AIR | 01 Aug 2017
Global: Cyber can be as destructive as hurricanes in terms of losses
E conomic losses from cyber events have the potential to be as large as those caused by major hurricanes, yet less than 20% of losses are covered by insurance, according to Lloyd’s in a report co-written with risk modelling firm Cyence.

Source : AIR | 01 Aug 2017
Risk management across supply chain vital to cyber defence
The interconnected and unbounded nature of the cyber means that each company is vulnerable to risks from each partner in the ecosystem. Cyber security requires a collaborative effort supported by information sharing, said speakers at the 2nd Asia Cyber Risk Summit.

Source : AIR | 01 Aug 2017
Are there bubbles in Zhong An Insurance's IPO?
After prolonged speculation of Zhong An Insurance going public, the InsurTech unicorn has finally made a move. The online insurer formally filed for an IPO in the Hong Kong Stock Exchange on 30 June and the news has garnered much attention from not only the insurance community, but also the wider financial services industry, observes Chinese InsurTech platform InsurView.

Source : AIR | 01 Aug 2017
Automation Insurance: Threat or Opportunity?
The future is becoming less predictable every day. If insurers want to stay relevant to tomorrow’s needs, Mr Benjamin Pring of Cognizant says they must build agility into everything.

Source : AIR | 01 Aug 2017
Changing the cyber game in Singapore
The recent launch of Delta Insurance Singapore, a sister company to Delta Insurance New Zealand, introduced the first cyber, technology and financial lines Lloyd’s Coverholder in the country. We sit down with Mr Eugene Cheong, its Managing Director, to find out more about its tech focus and unique approach to cyber insurance.

Source : AIR | 01 Aug 2017
InsurTechs in China - A promising scenario
In China, both InsurTechs and traditional insurers are leveraging digital technology to tap unexplored areas to bring better and specialised insurance services to customer and boost China’s insurance penetration.

Source : AIR | 01 Aug 2018
InsurTech: Not revolution but evolution
They create a better experience for insurance customers by catalysing innovation and technological advancement in the insurance industry. We speak to an incumbent insurer and an InsurTech to get a balanced view of the true potential of Insurtech.

Source : AIR | 01 Aug 2018
Insurance opportunities in the blockchain ecosystem
As blockchain becomes more prevalent and cryptocurrencies gain increasing traction in the economy, the question of where insurers can find their place in this ecosystem begs for an answer.

Source : AIR | 01 Aug 2018
AI-assisted healthcare - myths and realities
The rapidly aging 1.4bn strong Chinese population has the largest number of people suffering from non-communicable diseases, which is putting immense pressure on China’s healthcare system.

Source : AIR | 01 Aug 2019
100% FDI in insurance intermediaries - wait and watch
India is initiating moves to attract more foreign direct investment. How will it unfold? We will have to wait and see.

Source : AIR | 01 Aug 2019
Asia: Towards regional disaster risk management
The four key enablers of technology and data; product innovation; research and development; and an integrated ASEAN market, can be deployed to put Asia in a strong position to address the challenges of effective assessment, management and transfer of disaster risks, said Mr Ravi Menon, Managing Director, Monetary Authority of Singapore, who spoke at the recent 8th Institute of Catastrophe Risk Management (ICRM) Symposium held in Singapore.

Source : AIR | 01 Sep 2017
Prevailing through humanity
Despite disruption, the rise of artificial intelligence, agents and advisers will continue to play an important role in life insurance in the near term. This can be achieved by honing in on the human traits in advice that technology can never quite replace.

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Source : AIR | 01 Sep 2017
Are you ready for the insurance world of 2025?
More insurers are recognising the importance of cognitive technology. But what are the five basic questions to be asked before starting this journey? Mr Kenny Hay of IBM ASEAN offers the answers.

Source : AIR | 01 Sep 2017
Loss of Indian science was a gain for the Indian insurance industry
Asia Insurance Review caught up with Mr Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance Company, who was recognised as a LinkedIn Power Profile for the third consecutive year – a hat trick! In this exclusive, the insurance stalwart shares his thoughts on a variety of issues including digitalisation and building good corporate culture.

Source : AIR | 01 Sep 2017
Hearty hopes for life
Like the general insurance sector, Malaysia’s life market is undergoing change. However, while the general sector reported sluggish growth, local life insurers fared relatively well in 2016, with new business premiums rising by 6.9% to MYR9.75 billion (US$2.3 billion). LIAM President Toi See Jong and AIA Bhd CEO Anusha Thavarajah take stock of the industry and share their insights on its future direction.

Source : AIR | 01 Sep 2017
General insurance: In for DyNAmic changes
Malaysia’s general insurance sector reported sluggish growth for a second year running, stalled largely by economic headwinds. But insurers are unfazed as they set their sights on embracing market liberalisation and disruption, while noting the market needs to dig deep and transform from within.

Source : AIR | 01 Sep 2017
Asia readies for a 'silver' tsunami
As Asia’s elderly population, (re)insurers in Asia address the healthcare needs of their ‘silver’ customers. How is the industry helping with ‘healthy ageing’.

Source : AIR | 01 Sep 2018
Agriculture insurance is transforming in China
China’s agriculture insurance continues to grow rapidly and is likely to stabilise at 10-15% in the years ahead. China is also piloting new agriculture insurance schemes such as special crop and livestock insurance, price insurance and revenue insurance.

Source : AIR | 01 Sep 2019
Genetic testing - an opportunity to improve patient experience
Some view it as an emerging risk for the (re)insurance industry while others see it playing an important role in patient care and disease management.

Source : AIR | 01 Sep 2019

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