Exclusive: Experiencing The Thunder Down Under
Source: Asia Insurance Review | May 2006
Australia is both
the world’s smallest continent and its largest island. Although its insurance
industry is not the largest in the Asia Pacific (Japan has achieved that distinction),
Australia is recognised as Asia-Pacific’s most progressive. The country’s
advanced regulatory environment is one of its distinguishing features, attracting
international attention. However, its innovative marketing practices involving
creative products and fast-changing distribution systems are also major features.
Many Australian insurers, brokers, actuaries, loss adjusters and software suppliers
now roam across Asia-Pacific’s far-flung borders. They will also be seen,
far from home, heading the operations of multi-nationals or surfacing as senior
executives in specialist roles.
Thus, the Australian
market proved to be an irresistible attraction for Mr Jeffrey Bao Rong Qing,
General Manager of Asian Insurance Brokers Co Ltd (AIB), a Shanghai-headquartered
company. During a recent fact-finding mission to Sydney, Canberra and Melbourne,
Mr Bao and his delegation comprising Miss Kathy Pu, General Manager of
AIB’s Reinsurance Department and Mr Harvey Ho, the company’s
Senior Consultant, explored and learnt more about the market to identify entering
into one or more mutually beneficial strategic partnerships.
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