Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Jan 2023

Insurance


General

Electric vehicles: The new claims frontier

The adoption of electric vehicles is one of the most prominent challenge the (re)insurance industry faces when it comes to motor insurance. On the claims side, new patterns and new types of claims have emerged.
 

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Severity of marine claims on the rise

Fire, collision and cargo damage were the top causes of claims in the marine industry, according to AGCS, with more than $9.87bn in claims value over the period of 2017 to 2021.
 

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How AI technology can prevent crowd crush

Crowd crush poses a deadly risk at large events where people gather in proximity. Such risks can be mitigated by using AI to keep an eye on dangerous crowd movements.
 

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Medical expenses dominate travel claims in Singapore

Borders have opened in many countries this year and that means more insurance claims as travelling takes off.
 

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Indonesia earthquakes and the insurance response

The earthquake in Indonesia’s Cianjur region claimed hundreds of lives. However, the low level of insurance in affected areas means there is much the industry can do to be more useful during natural disasters.
 

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Life & health

Rising healthcare costs a challenge for insurers

With healthcare costs constantly on the rise, 2023 will see a spike to pre-pandemic levels as global inflation rates soar.
 


Providing healthcare for an ageing population

Japan’s healthcare expenditure has been on the rise, owing to a combination of factors, such as its ageing population and increasingly expensive medical procedures.
 

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Inflation likely to accentuate health insurers' losses

South Korea provides comprehensive medical coverage for its citizens through its nationalised health insurance scheme. However, insurers are facing losses from private health insurance products.
 

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Opportunity for private health insurance in Taiwan

With the population expected to live longer and medical costs continuing to rise, there is a huge potential for the growth of private insurance in Taiwan as the health authority seeks to alleviate the financial burden of the national health insurance scheme.
 

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