Magazine

May 2019

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

Editor's Message

Source: Asia Insurance Review | Apr 2019

It’s getting to be all about tech in every way. Are you tech-belted? Tech-savvy? Or at least tech-ready? 
 
And where does this tech road lead you? It is the yellow brick road to making your customers know you and love you. So how does the CEO fit into this tech curve? These were some of the big questions tackled at the AIR CEO Summit last month where the overwhelming verdict was that tech transformation is a must - and there are so many apps and devices to guide you once you get your data and your targets correct. 
 
Data science and analytics are here with the science to make insurance a sure fire success. It’s really changing disruption to be an enabler on all fronts.
 
Hopes run high as we host the Asia InsurTech Summit where we take the tech message one notch higher with the multitude of start-ups that are helping insurance to be ‘friendlier’ and easier to deal with. One awaits with wonder the verdict on whether insurance can be ‘coveted’ and ‘loved’. The apps are a-coming…
 
Until then, agents and brokers will hold sway as most consumers, even in sophisticated markets, are now ready to pay for advice. 
 
Back on the ground, one grapples with issues of competition and protectionism where many still fear MNCs getting the lion’s share of the market. What lessons can Asia learn from the west or teach them anew? Urbanites not buying enough protections, employees clamouring for more pay, regulators getting more serious with audits and insurance taking ownership of leading the brigade to handle climate change. 
 
We even go a step further to look at ethical investments. And treat you to insights on what some service providers like brokers and actuaries do in the insurance industry value chain.
 
But every which way you look, there is always growth in the air in most markets as the risk profiles rise and risk awareness increases too.
 
Our country profile this month is on Thailand – a market that is stressing innovation with sandboxes despite the rules – and where insurers are finding space in a crowded market that is still growing. There is so much tech in the air that companies drool over being data-driven, be it in life or motor. Digital is the Sunday Best to don to be ‘future-ready’.
 
This month, post of our healthcare conference, we bring you a feature on the face as the ultimate wearable - the dream emerging new technology for lifers. Our marine feature is beyond just seeing snow leopard, telex machines and a hard market with portents of what 2019 brings.
 
With so much happening, I am proud to launch the 23rd Asia Insurance Industry Award with a panel of expert judges drawn from Asia and around the world to recognise and salute excellence. Over the years, the award has become a highly-coveted symbol that imposes leadership on the recipient beyond just marketing hype. 
 
I urge all of you who feel you are doing something different or something spectacular to take part. It is the digital age. Embrace the virtue of self-confidence and self-nomination. To know you are good is indeed a great blessing in life. Stand up to be counted. 
 
May April showers be your joy. 
 
Sivam Subramaniam
Editor-in-chief 
Asia Insurance Review
 
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