Thought Leadership

By Joey Zhou and Shinichi Kamiya 2 July 2024 Climate change, technological advancements, the pandemic, emerging risks, regulatory changes, workforce dynamics, and shifting consumer behaviours are driving transformative changes in the insurance industry. Adapting to these shifts is crucial for insurers to remain competitive and effectively meet customer needs in a rapidly evolving business landscape. […]

Beyond the insurance industry, I can see that there are still a handful of people, organizations or even government agencies who don't see insurance as a form of risk management or even a solution provider.  Through COVID however, things got slightly better as those with insurances benefited much more during this crisis as compared to

Economic and social development is the cornerstone upon which societies build their future. It involves improving a community's well-being and quality of life through sustainable growth. At the heart of this development lies sustainable resilience—the ability of a society to withstand and recover from setbacks, be they economic downturns, natural disasters, or social upheavals. Sustainable

There are protection gaps across all risk types and solutions to address them should be considered holistically. Developing national strategies that are holistic, comprehensive and include suitable tools and capabilities is one of the ways countries can effectively address protection gaps. This article was originally published by Asia Insurance Review

Improving financial education and understanding of insurance products is critical to a sustained and healthy growth of the insurance industry in emerging markets. According to research by McKinsey, 95% of Asian consumers are digitally inclined. And leveraging digital technology as a means to expanding our reach, and more efficiently accessing mass market consumers represents an

Key challenges will be how to underwrite, price and manage mortality and morbidity risk, as well as medical expense exposure under worsening climate conditions.   There is strong evidence that extreme heat will lead to higher mortality and morbidity rates. Likewise worsening air pollution and higher frequency and intensity of climate related disasters will have

While the pandemic was viewed negatively in the last few years, a silver lining was that it taught everyone the importance of protection. We must meet the changing needs of our customers, ensure a future-ready workforce and agency, and integrate ESG concerns into our business, to thrive amid an uncertain macroeconomic and geopolitical landscape. We

A sector-wide effort could help us attract new professionals. Every firm has a strategy for attracting and retaining talent and building capacity through hiring new staff and upskilling/ reskilling existing staff. And many insurers have articulated very compelling values statements. However, a sector-wide values-based proposition can complement existing firm level talent strategies and strengthen the sector's position in

Creating a more resilient future for Asia means narrowing protection gaps in Asia.   There are different ways to describe protection gaps – but essentially when we talk about protection gaps we are talking about the difference between total possible losses and insured losses. We narrow protection gaps through reducing risk, increasing access to insurance