Magazine Table of Contents
The agency force continues to be the core distribution channel for life insurance companies. To remain so, the mission is clear: Move beyond insurance expertise and become a tech-enabled adviser.
An industry expert uses his company's 2015 data to validate the common assumptions around the decline (or not) of the agency channel in Asian markets.
Underserved market segments are vulnerable to competition from disruptors, and that disruption, whether external or internal, is inevitable.
In 2015, there was a record of close to 200 natural catastrophes. Uninsured losses continue to run high, especially among the rural and agrarian community in Asia. In a roundtable hosted by Asia Insurance Review with the CEO of Allianz Re as the keynote speaker, a group of 12 insurers, academics and modelling experts looked at how the insurance industry can go beyond the limit to better serve the needs of the economy, society and the poor.
Catastrophe modelling has come a long way since it was first introduced. However, not every peril is modelled. Mr Tobias Pfau of Gen Re said (re)insurers must always remember to take all relevant exposures into account.
Dr Gordon Woo of RMS highlights that population displacement is a catastrophe risk and yet it is not modelled.