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Asia: Brokers will increase cover variety in 2017

Source: Asia Insurance Review | Feb 2017

2017 will prove to be a big year for insurance brokers, as they will be selling increasing types of cover related to the sharing economy, said Mr Mahendra Nambiar, vice president of global insurance solutions and innovations lead, at Capgemini.
   That is the tip of the iceberg in terms of the changes that brokers face in this increasingly disruptive industry. Technology has shaped consumer behaviours and expectations such that brokers are forced to reinvent themselves on an almost daily basis.
   Pressure from changing regulations, changing customer expectations, intensive competition and disruptive technology are pushing brokers to change. Brokers are also under pressure to cut expenses and commissions to stay relevant as insurers see narrow margins with no reprieve from investment returns.
   Now in its fifth year, the Asia Insurance Brokers’ Summit returns to Singapore with the theme: “The Power of Smart Brokers in a World of Disruptive Innovation in Insurance”. The Summit includes prominent, thought-provoking keynote addresses and advice on leveraging on prime networking opportunities with industry leaders all coming together to create an unparalleled professional learning experience.
   For more information, please
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