It’s September. Summer holidays are over. Everyone must have had a break to catch the second wind to go for that fierce sprint towards the end of the year to achieve positive results for a year that is proving tougher than expected, drifting with “iffi-ness” and uncertainties.
With Monte Carlo still going strong after 60 long years beyond the sun and the sea, despite varying characters taking centre stage, there is hope in the air. The key debate this year at Monte is “Confronting Global Underinsurance and Heightened Global Risks” and the stress is on “global” – repeated twice in a world where the tide is globalisation being checked, and where Asia is riding high.
This month, with so many events taking place everywhere, we have decided to go for two cover stories. One is on reinsurance, highlighting what cedants are seeking and the invariably greater expectations on reinsurers as the shining knights of the industry beyond just being “Daddy Warbucks”. The other cover story is our Thought-leadership Roundtable, with the top consultants in the region to give tips to CEOs from an outsider’s perspective on how to get better, and how to uncover the hidden pockets of growth in insurance. And the answer seems to be: “Walking down the Digital Avenue Lane”.
With IUMI being so close to home in Tokyo this year, we also bring you a special feature on marine hull, while testing your patience to wait until next month for our marine cargo focus. But we will be there at IUMI in Tokyo with our Daily Newsletter. So look out for that! Japan is a salutary market, where the spirit of business is really about delivering insurance with the “Omotenashi” spirit, says the new GIAJ head.
Nearer to home with our events to serve the market, we have the CIO Summit where we challenge IT heads to face up to the InsurTech brigade; we reach out to the highly technical agricultural risks underwriters to join forces to win; and we also focus on those serving the Pensions squad with the gold in old and silver, even from a health insurance base. And with our Takaful Rendezvous in Kuala Lumpur, we stress the need to get ready for Version 2.
Our Country Profile is on Malaysia, which is still a favourite, backed by a regulator set on beefing up the business environment and deepening penetration, and insurers busy with changes and optimism, even as foreign investors look for more local partners.
We also bring you a spotlight on Sri Lanka, where RBC has taken off and the market is now looking at an official National Insurance Day. That’s a triumph for insurance no less.
The pace is picking up, so stay charged and with your ear to the ground. But believe in your basics and core competence at being the best in what you are doing and can do. But do get hyped about digital to stay in the game, as even the old world of doing business has become so digitalised. Lastly, bridge the chasms between bricks and clicks and think “more mobile apps”.
I wish you all the very best to stay in the race as a winner!
Sivam Subramaniam
Editor-in-Chief
Asia Insurance Review