Whilst expansion of the top line is an achievable goal for most insurers across the region's emerging insurance markets, profitable growth is by no means a certainty and, in many cases, is achieved after significant investment of capital and time. With this in mind, Mr Mark Bain and Mr Martin Noble from KPMG explore five important issues that should be on the insurance CEO's agenda for 2013 and provide thoughts on some of the key aspects and how these can be used to create a competitive advantage in the region's diverse market.
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Many life insurers see Asia's potential - which by 2025 is projected to be worth US$2 trillion in premiums - and have either made their way here or are in the midst of moving here. But not everyone who is in Asia is successful. Mr Mark Saunders and Mr Benjamin McDermott of Towers Watson say that while not everyone can win, success is possible and the formula is not overly complex - just a relentless focus on doing things simply and well.
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Talent is more than ever at the top of the list for insurance CEOs in Asia. The talent gap in both quality and quantity has become the critical bottleneck for growth in the industry and is getting worse as the best and brightest leave insurance for banking and consulting. Mr Bob Aubrey and Mr Julien Parasie of Mazars share their first-ever study of talent for the insurance industry across Asia: "Jumping the Curve", summarising the key findings. They will also be leading a panel in the next AIR CEO conference in Bangkok to explore the findings on the study's highlights regarding the demand side of the talent.
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