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

Feb 2024



Rising claims for high-net-worth insurance products

Increasing demand for high-net-worth insurance products has led to a spike in claims in recent years. Risks associated with assets such as yacths, art and jewellery collections are also evolving due to widespread digitalisation.

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Boosting insurance and takaful in Pakistan

Pakistan’s insurance sector has remained largely ignored for some time. It is mentioned as an afterthought despite playing an imperative role for individuals and corporates in the development of economy by protecting life.

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Japan's 2024 earthquake losses expected to reach $3.3bn

On 1 January, a 7.6 magnitude earthquake rattled the Ishikawa prefecture in Japan, resulting in an estimated economic loss of $5.6bn and insurance industry loss of $6.4bn. Insured property losses are projected to reach $3.3bn.

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Investment-linked insurance policies in Singapore

As awareness of investment-linked (insurance) policies increased in Singapore, the Monetary Authority of Singapore refined regulatory guidelines on the products to enhance transparency.

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Hong Kong: Meeting mainland Chinese consumer expectations vital

Post-pandemic changes in consumer behaviour among mainland Chinese buyers have contributed to a drop in policy sales in the Hong Kong insurance market.

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Surge in demand for EV insurance in Singapore

In Singapore, the demand for electric cars is on the rise, which is being fuelled by government climate policies and consumer demand. More car owners will start making the switch from petrol cars to EVs.

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Parametric insurance still nascent in Southeast Asia

There is a disconnect between market risk transfer demand and capacity supply and it is expected to impact underwriting for parametric solutions. Demand for such products in Southeast Asia is also slower than other regions.

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Life & health

Health insurers review to manage rocketing medical inflation

Medical costs in the Asia-Pacific region are expected to rise further in 2024. There is also an increase in non-communicable diseases and a large critical illness gap in many markets.

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View from India - India needs digitally-empowered agents

Indian insurance agents have plenty of opportunities in a vast unexplored market ahead of them. They only need to adopt technology and adapt to the evolving insurance ecosystem in the country.

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From protection to prevention - driving down costs of critical illness

Rising costs and the significant critical illness protection gap represents one of Singapore’s biggest healthcare problems.

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