Magazine Table of Contents
The world of life and health insurance is poised on the edge of a potential revolution, thanks to advancements in AI. With a healthy dose of human intuition, logic and imagination, this will be a brave new world of exciting possibilities for customers, says Mr James Tan, CEO of Tokio Marine Life Singapore (TMLS).
Guy Carpenter’s President (International), James Nash, expects reinsurers to take a “rational” approach during the January 2018 renewals considering the relative strength of their aggregated balance sheets.
AXIS Re had recently acquired Novae Group plc, a diversified specialty (re)insurer that operates through Lloyd’s of London. Asia Insurance Review speaks with Mr Richard Milner, President and Chief Underwriting Officer, AXIS Re, APAC and London, about this, its Asia strategy and emerging risks.
As we look back at 2017, what will you take from it? The past year is probably the most exciting one for the financial services industry yet, if we may say so ourselves. Despite the pool of plentiful insights gleaned from digital movers and shakers, we’ve seen both leaders and laggards; the latter, very much entrenched in legacy and preferring to stick with the “same old, same old” that have served them well since the start. But the question is: For how long more can the old model sustain, against the digital disruption at their doorsteps?
Jirnexu, Southeast Asia’s only full stack FinTech startups, was recently approved by Bank Negara Malaysia (BNM) to compare, sell, process payments, and issue e-policies for insurance products under its regulatory sandbox. We talk to Lucas Ooi, founder of Jirnexu, about their innovative e-commerce marketplace, their future plans and where they see the insurance industry is headed.
Industry players have mostly managed to cruise along amid a tough investment climate and excess capacity, thanks to benign loss activity over the past several years. But Allianz Re CEO Amer Ahmed says changes are due, particularly in pricing, if the reinsurance market is to survive.
Despite its continual efforts, Asia’s protection gap continues to stare the industry starkly in the face. Mr Roland Eckl, CEO Asia Pacific (Japan, Korea, India & Southeast Asia) of Munich Re believes there are only two key ways out of this conundrum.
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.