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Feb 2024

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Source: Asia Insurance Review | Dec 2023

Winners of the 27th Asia Insurance Industry Awards share their thoughts on their accolades and what it means for the future of their company.
 
Download the winners booklet and watch video highlights of the awards at  www.asiainsurancereview.com/asiaawards2023
 
We salute the winners of 27th Asia Insurance Industry Awards 2023
Young Leader of the Year
Mr David Padin (Cocogen Insurance, Inc)
Technology Initiative of the Year
BNP Paribas Cardif, ONESystem
Health Insurance Company of the Year
HSBC Life (International) Limited
Corporate Risk Manager of the Year
Ms Suriati Asmah Bt Abdullah (Tenaga Nasional Berhad)
General Reinsurer of the Year
Munich Re
Life Insurance Company of the Year
Cathay Life Insurance
Digital Insurer of the Year
Go Digit General Insurance
General Insurance Company of the Year
Bajaj Allianz General Insurance Co. Ltd
Woman Leader of the Year
Ms Anusha Thavarajah (Allianz Asia Pacific)
InsurTech of the Year
bolttech
Educational Service Provider of the Year
The Australian and New Zealand Institute of Insurance and Finance
Sustainability Award
Insurance Council of Australia Ms Prue Willsford accepted the award on behalf
Lifetime Achievement Award
Mr Alan Wilson (MSIG Asia Pte Ltd) Mr Mack Eng accepted the award on behalf
Broker of the Year
Marsh Asia
Innovation of the Year (Joint Winner)
FM Global Centre
Life Reinsurer of the Year
Reinsurance Group of America, Inc. (RGA)
Innovation of the Year (Joint Winner) Reinsurance Group of America, Inc. (RGA)
Reinsurance Group of America, Inc. (RGA)
Service Provider of the Year
PERILS AG
 
Cathay Life Insurance senior vice president Theresa Lin (L) accepting the award from Validus Re CEO & executive vice president Asia Pacific Marc HaushoferLife Insurance Company of the Year  
Cathay Life Insurance
This year, we are pleased to announce our esteemed recognition as the recipient of the Life Insurance Company of the Year award. We extend our sincere gratitude to the judging panel for acknowledging our steadfast commitment to the advancement of elderly-specific products and services. Also, Cathay Life has consistently maintained a position of leadership in promoting sustainability, and we look forward to continuing our role as the foremost life insurance company in Taiwan.
 
This accolade serves as a testament to our systematic progress in meeting and exceeding expectations. Beyond the fulfilment of our E.P.S. strategy – Elder Friendly × Protection First × Sustainability – Cathay Life, as the largest institutional investor in Taiwan, remains steadfast in utilizing “engagement” as the core strategy of our responsible investment. This underscores our dedication to addressing climate issues through meaningful and impactful investments.
 
The reception of this prestigious award attests to Cathay Life’s exceptional standing in the industry. We will remain unwavering in our commitment to the framework of E.P.S. strategy in 2024. It guides us as we strive to serve our customers, cultivate a sustainable future, and concurrently navigate the challenges posed by an aging society as well as climate change. A 
 
Bajaj Allianz senior president & head-operations & customer service K V Dipu (L) accepting the award from Peak Re chief underwriting officer, property & casualty Piotr NowakowskiGeneral Insurance Company of the Year
Bajaj Allianz General Insurance Co. Ltd
This award reaffirms our confidence in our commitment to addressing customer worries and bringing a positive change in society through our best-in-class products and services. The award is a testament to the commendable efforts and unwavering determination of our people to create a lasting impact.
 
The award solidifies the trust that our customers, people, partners and stakeholders have placed in our brand. With a history of serving over 140m customers and maintaining an industry-leading position for more than two decades, this achievement is a notable accomplishment.
 
As a company, we have consistently maintained the position of the market leader through cutting-edge innovation and unique initiatives; we remain committed to serving our customers with utmost care while persistently driving transformative change in our pursuit of excellence. A 
 
HSBC Life Hong Kong chief health officer Celia Chan (L) accepting the award from Pt Asuransi Wahana Tata president director Christian WanandiHealth Insurance Company of the Year
HSBC Life (International) Limited
Winning this prestigious award underscores HSBC Life Hong Kong’s dedication and commitment to providing exceptional health outcomes to our customers and making healthcare affordable and accessible.
 
We will leverage this recognition to promote both our health brand and company values to external and internal stakeholders, and to reaffirm our commitment to elevate the physical, mental and financial wellness of our customers and the community.
 
We aim to surpass customer expectations at every step of their health journey, and to sustain the leadership position in the health insurance industry in Hong Kong and across GBA. A 
 
Go Digit General Insurance head of data science Ashish Khandelwal (L) accepting the award from NMG Consulting Global Partner Stephen CollinsDigital Insurer of the Year
Go Digit General Insurance
It is very humbling to win the “Digital Insurer of the Year” award for the second time. This is also Digit’s fourth AIIA Award in five years. Staying true to our mission of simplifying insurance and digitising the entire insurance ecosystem in the last six years has truly helped us break the geographical barrier in a diverse country like India. Receiving global recognition like the prestigious AIIA Award inspires us to keep striving for more and work towards becoming the global pioneers when it comes to technology innovation and high-quality customer service.
 
Global, prestigious and industry-wide recognised awards like AIIA is truly a badge of honour for a young company like Digit. We aim to promote this recognition widely among our customers and partners as it will truly help us further establish our tech prowess among our partners and customers. A 
 
The Australian and New Zealand Institute of Insurance and Finance CEO  Prue Willsford (L) accepting the award from AM Best Asia Pacific CEO & managing director Rob CurtisEducational Service Provider of the Year
The Australian and New Zealand Institute of Insurance and Finance
We are thrilled that ANZIIF has once again been recognised as the Educational Service Provider of the Year at the prestigious Asia Insurance Industry Awards. This marks our 13th win, a testament to ANZIIF’s commitment to excellence in insurance education.
 
Receiving this award reaffirms our dedication to shaping the future of the insurance industry through professionalism and innovative, high quality education solutions. It underpins the hard work of every member of the ANZIIF community.
 
Receiving this award validates our expertise and positions us as the leader in the Asia Pacific Region. Importantly, it also motivates us to look forward to another a year of continued growth, collaboration, and pushing the boundaries of what is possible.
 
As we celebrate this milestone, we reflect on the significance of our role in developing insurance professionals and contributing to the advancement of the insurance sector across the region. A 
 
RGA chief commercial officer, Asian Markets Queenie Choi (L) accepting the award from Muang Thai Life Assurance president Dr Sutee MokkhavesaLife Reinsurer of the Year
Reinsurance Group of America, Inc. (RGA)
We are extremely honoured to be named Life Reinsurer of the Year, especially in the year RGA celebrates our 50th anniversary milestone. This award reflects RGA’s innovation and client collaboration, and it is a great recognition of the dedication of our employees across the region.
 
This recognition reinforces our position as a trusted partner to our clients. Our clients’ continuous trust strengthens our partnerships and enables us to work closely together to develop tailor-made solutions and first-in-market innovations to not only meet their evolving business needs but also expand insurance coverage to the uninsured and underserved consumers.
 
Industry and consumer needs are constantly evolving. RGA’s deep understanding of market needs and technical expertise across the insurance value chain will help continue to support our insurance clients to capitalise on growth opportunities across the region, and ultimately make financial protection accessible to all. A 
 
Munich Re managing director & head of P&C, South East Asia Surbhi Goel (L) accepting the award from MSIG Asia CEO Clemens PhilippiGeneral Reinsurer of the Year
Munich Re
Reinsurer of the Year is both an honour and a motivation for us. We are proud to have won this award for the second year in a row. As Munich Re, we are delighted that our financial reliability, consistency, customer centricity and innovative solutions are appreciated by our clients and partners. Our thanks go to the jury, but also to all the teams in the region, whose commitment has made this success possible.
 
We will of course do our best to continue to meet the high standards we set ourselves in the future. Our clients in Asia can rest assured that Munich Re will continue to stand by their side as a reliable partner, especially in turbulent times. We will live up to being selected Reinsurer of the Year. A 
 
The Australian and New Zealand Institute of Insurance and Finance CEO Prue Willsford (L) accepting the award on behalf of ICA from Swiss Re Asia managing director/head of property & casualty reinsurance SID Victor KukSustainability Award
Insurance Council of Australia
This award is acknowledgement of the critical role insurers can play in mitigating climate risk and a reminder that change is possible, that progress is achievable, and that innovation and leadership by the insurance industry can pave the way for a sustainable future.
 
The Insurance Council will continue supporting its members to implement our Climate Change Roadmap – Towards A Net-Zero Future, so insurers can continue to deliver on climate action, in line with steps being taken around the world. A 
 
bolttech group CEO Rob Schimek (L) accepting the award from Munich Re regional head casualty treaty Michaela HannemannInsurTech of the Year
bolttech
It’s a tremendous honour to be named “InsurTech of the Year” for the second consecutive year, and I’m proud of what the bolttech team have achieved together in the three years since we launched the brand in 2020. Thank you for the recognition, which validates the dedication and perseverance of our entire team who have been instrumental in bolttech’s success.
 
This year, we celebrate several significant milestones including our $246m Series B funding, the largest ever for an InsurTech. This award is another strong validation of the tremendous progress we’re making to build the world’s leading ecosystem to provide seamless access to relevant and affordable insurance products via our partner platforms —making it easier and more convenient for our customers to get protected. Leveraging the recognition that comes with this award, we will continue to build on our core proposition to partner with any kind of business to embed insurance and protection at the point of need.
 
We see a great opportunity for InsurTechs like bolttech to encourage collaboration across the value chain to create innovative insurance solutions that address evolving customer expectations and bridge the protection gap, especially in the Asia Pacific region. We have always seen ourselves playing the role as an enabler of the industry, working with our partners across diverse industries. We aim to bring our deep industry expertise and tech capabilities to add value to these partnerships and promote financial inclusion in emerging markets. A 
 
Marsh Asia President James Addington-Smith  (R) accepting the  award from QBE Insurance (Singapore) CEO Ronak ShahBroker of the Year
Marsh Asia
Marsh is honoured to be named the Broker of the Year once again by the Asia Insurance Industry Awards. This recognition reaffirms our purpose in helping our clients and colleagues grow by protecting and promoting Possibility. We will continue our commitment to seek better ways to manage risks and define more effective paths to the right outcome for our clients with our industry-led risk advisory, insurance broking and claims advocacy expertise enabled by our proprietary data and analytics capabilities. This award is also a testament to Marsh Asia’s exceptional talent and their continued dedication in contributing to the innovation and growth of the industry. A 
 
FM Global Operations senior vice president, Asia operations Tan Hian Hong (R) accepting the award from Asia Insurance Review & Middle East Insurance Review editorial director Paul McNamaraInnovation of the Year (Joint winner)
FM Global Centre
It means a lot because it acknowledges our commitment to our clients’ resilience, while at the same time recognizing the strategic business value that a science-based, engineering approach generates. The FM Global Centre delivers experiences that offer businesses and other organizations tangible solutions to risks and uncertainties. We are proud to celebrate this.
 
One of our goals for the FM Global Centre is to contribute to a stronger culture of resilience and encourage business leaders to take a more proactive, value-based approach to risk management. This award provides strong recognition of our efforts, which we are excited to share. gives us a relevant proof point we can talk to.
 
We are all about sharing the value of the FM Global Centre experience to the risk community, working with our broker partners, universities as well as standards and codes authorities. It’s all about getting people through our doors to understand the value & benefits that come with an engineering approach to risk. A 
 
RGA chief commercial officer, Asian Markets Queenie Choi (R) accepting the award from Asia Insurance Review & Middle East Insurance Review editorial director Paul McNamaraInnovation of the Year (Joint winner)
Reinsurance Group of America, Inc. (RGA)
Being named “Innovation of the Year” is a great recognition for our focus on product innovation. It is also a huge encouragement for our employees, who have demonstrated excellence and innovation in designing and executing solutions that address the challenges and opportunities of our clients and their consumers, as well as the industry.
 
Our award-winning innovation is a market-first data-driven automated underwriting solution in Korea that optimises sales, risk management, and the customer journey. The solution addresses insurers’ challenges in expanding their simplified issue business and provides financial protection for consumers with health impairments. This showcases one of many RGA’s solutions in the region on how we enhance insurance in a unique and scalable way.
 
Looking ahead, we are committed to go beyond traditional biometric risk transfer with expanded services on capital solutions and use emerging technology and alternative data to create market-first solutions that enhance the customer journey and help clients seize new business opportunities. A 
 
Perils AG head of Asia Pacific Darryl Pidcock (L) accepting the award from  Asia Insurance Review deputy editor Ahmad ZakiService Provider of the Year
PERILS AG
We are humbled to win the award not only in 2023 but for the 2nd time. We regard the AIIA awards as the most prestigious industry award in APAC and to be recognised by the industry is highly appreciated.
 
We are already promoting the award through various means including via social platforms such as LinkedIn, website, communication to our industry partners and verbally through engagement with the industry.
 
In 2021 when we first won the award, we already realised this is a long journey as much to do in APAC. Two years later we have continued that path including launching Japan. We will continue to engage expanding our market coverage and perils in the region given the growing impact of Nat Cat disasters. There are a number of developing markets in the region where understanding of hazard risks such as flood is still evolving and part of this is the need to improve the availability of industry loss data. For more developed markets such as Japan and ANZ, facilitation of capacity though alternative capital transactions such as ILS is increasingly critical, also supporting Singapore and Hong Kong efforts to grow their global presence as ILS platforms. A 
 
Cocogen Insurance Inc president David Padin (L) accepting the award from Asia Insurance Review CEO Sheela SuppiahYoung Leader of the Year
Mr David Padin, Cocogen Insurance, Inc
No one enters insurance prepared and for someone who is new to the industry, winning the Young Leader of the Year Award is indeed an honour. It is an honour I share with all my colleagues in Cocogen Insurance; a team of dedicated and hard-working individuals who go the extra mile to make Cocogen the Philippines’ leading non-life insurance provider.
 
Cocogen has been pushing boundaries in the industry for more than six decades now and we intend to do so for years to come. This recognition further motivates us to elevate our brand, find innovative solutions to market challenges, contribute to nation-building, and continue to be the industry leader in delivering the best non-life insurance products and services to our stakeholders. A 
 
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