Profile On Australia - RMIA: Awakening To New Risks
Risk Management - Buyers Beware!
Risk Management - Can Chinese Walls Support Risk Management?
Risk Management - RIMS 2006: Bigger And Better
Risk Management - Positioning Singapore As A Leading Asian Insurance Centre
News - Singapore: MAS Issues Guidelines On Risk Management Practices
News - Global: Benfield Launches New Technology Platform For Placement Of Facultative Catastrophe Risks
The emergence of new risks such as terrorism, bio-security and corporate governance has presented fresh opportunities for the risk-management industry in Australia. Mr David Wilkinson, President of the Risk Management Institution of Australasia (RMIA), shares how...
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As part of our focus on risk management leading up to the RIMS conference in Hawaii this month, Mr Ian Baxter, Managing Director of JLT Asia subsidiary Echelon Claims Consultant, shares his first-hand experience during the first 48 hours of the Asian Tsunami of...
The Spitzer writ issued in New York has raised many concerns for everyone involved in insurance – the buyers, intermediaries, insurers, reinsurers and even the regulators. The issue of placement service agreements (PSA) and supplementary over-riding commissions...
In the run-up to the RIMS 2006 Annual Conference to be held from 23-27 April in Honolulu, Hawaii, we speak with Ms Ellen Vinck, RIMS President, VP Risk Management, BAE Systems Ship Repair Inc, about this year’s conference which promises to be bigger and...
In a curtain raiser to the Risk and Insurance Management Society (RIMS) conference in Honolulu this month, we look at Singapore as a captive domicile and efforts by the Monetary Authority of Singapore (MAS) to establish the Republic as a leading insurance hub in...
Every company has its mission to achieve Customer Satisfaction (CS). In Millea Group, it is also an integral part of its “Corporate Social Responsibility” and is not a separate issue. Our Guest Editor, Mr Takaai Tamai, CEO of Millea Asia explains how they link CS with motivation...
The world today is facing a slew of increased and new risks – catastrophes, pandemics, terrorism – but Mr Thomas Hess, Chief Economist and Head of Economic Research & Consulting, Swiss Re, remains upbeat about the insurance and reinsurance industry....
The Singapore branch of US insurer ACE is focusing on increasing its visibility and brand presence, says its new chief Mr Kenneth Brown.
HSBC Insurance (Asia Pacific) Holdings Limited has obtained approval from Bank Negara Malaysia to form a joint venture Takaful (Islamic insurance) company in Malaysia in partnership with Jerneh Asia Berhad and The Employees Provident Fund of Malaysia (EPF). ...
In the wake of intensifying competition, Australian giant Insurance Australia Group is looking to Asia to sustain growth and expansion, having entered into four negotiations in the last four months. Mr Michael Hawker, CEO of IAG, speaks to our Editor, Ms...
Determined not to engage in a price war with its competitors, Vero is focused on building value-added services around the customer and specialisation to maintain its leading position in the market, said Mr Duncan West, Chief Executive, Vero Insurance Limited ...
In an interview with our Editor Wendy Koh, Mr Tom Karp, Executive General Manager, Supervisory Support Division at APRA, admitted that the industry had gone through a lot of regulatory change in recent years, following the HIH episode, to strengthen...
Mr Alan Mason, the name most closely associated with the Insurance Council of Australia over the past 16 years, the last nine of which he was its CEO, stepped down last month. Here, we bring you a quick interview with him on how far the ICA has come, and what...
Australian insurance brokers have welcomed the results of a six-month Government inquiry clearing them of misconduct of the kind uncovered in the US insurance industry.
In an increasingly complex and highly competitive financial services marketplace, it is not only professional/technical skills and knowledge that will provide competitor differentiation. It is also the ability to build and manage valuable relationships and to effectively ...
Mr Oliver Threlfall, CEO of BMS Cat (Australia), explains how his company uses cutting-edge technology to recover valuable paper-based data damaged by water for its clients.
Mr Kim Smith, Australian Sector Leader for Insurance, PricewaterhouseCoopers, looks at an acute challenge facing CEOs in Australia – the need to roll out new products and services without increasing unnecessary complexity in the business.
Insurance premium funding in Australia has experienced massive growth over the last 15 years. The value of policies being funded in Australia and New Zealand has grown from approximately A$100 million in 1991 to an estimated $4.5 billion in 2006. Mr Peter...
Bancassurance is still in its infancy in most parts of Asia. While many insurers and banks are eyeing each other for a successful partnership, this is easier said than done. While there are many success stories, there are also the fair share of failures and withdrawals....
In the wake of the tremendous growth of bancassurance throughout the Asia-Pacific region in recent years, Mr Sean Gilday, Vice President, Market Development, RGA International, and Mr Greg Goodfliesh, Director of Business Development, RGA Reinsurance...
Competitive pressure, increasing compliance and shifting consumer requirements are putting the heat on insurers to use technology effectively to support their business goals. Asia Insurance Review speaks to technology analysts and vendors to find out what has been done and what...
Faced with intense competition, insurers need to re-evaluate their business models and find ways to meet today’s challenges, two of which are reduced operating costs and meeting the expectations of the well-informed consumers. Here, Mr Debneel Mukherjee,...
Mr Suresh Dhanushkoti, CEO of iMantras, and Mr Peter Coates, CEO of Axiom Asia Pacific, summarise the key components of the claims management process for insurers in the region, and examine the ways technology can support improved management of the claims supply...
In most industries today, high-impact employees recognise that they need every tool available to leverage their high performance advantage. Increasingly this takes the form of new technology solutions at their fingertips. Mr W Thomas B Curtis, Managing Director...
The increasing amount of content and the growing need to comply with regulatory standards mean that data consolidation has become a key issue for insurers. Information Lifecycle Management (ILM) is a strategy which promises to store and deliver the right information to...
In June 2005, the Barlows column focused on the decision of the UK’s Commercial Court in Goshawk v Tyser & Co Ltd. This case has now been appealed, and the eagerly awaited Court of Appeal ruling has confirmed that, at least in the Lloyd’s market, brokers...
Mr Gordon Perchthold and Ms Jenny Sutton have over 40 years of combined experience assisting banks and insurance companies with the selection and implementation of a wide range of solutions allowing these organisations to evolve. This article is a ...
It is probably only a matter of time before risk-based insurance regulation becomes the norm in Asia. However, companies need not be fearful, says Mr Richard Rodriguez, a Senior Consultant of EMB, Europe’s largest non-life actuarial consulting firm. The...
Mr Neil Robertson, Chief Underwriter, XL Insurance Fine Art & Specie, traces the devastating impact of three fires involving art in various circumstances, and highlights the importance of having adequate fire insurance cover to protect treasured assets....
In the wake of rising liability cases, Mr Robert McCabe, Regional Manager, Director and Officers Liability, Financial Lines, AIG Southeast Asia and Greater China, looks at the common exposures, and why liability insurance is becoming increasingly important among...
Dr Wimal Wickramasinghe, Managing Director/CEO of Prudential Assurance Lanka Limited, gives an update on the Sri Lanka life market.
With just four months to go till the 23rd EAIC in Bandar Seri Begawan, more than 600 delegates have already registered. We take a look at what to expect and some of the topics that will be discussed.
Today, with 300 Islamic financial institutions in more than 75 countries, and total assets estimated to exceed $250 billion and growing at an estimated annual rate of 15%, Islamic financial services has transformed from a “nice to have” into a “must ...
More than 100 delegates from around the world attended the 2nd International Symposium on Takaful in Langkawi, Malaysia, in February which gave updates on the takaful industry and continued the discourse in takaful being a realistic alternative to conventional ...
Rating methodology for conventional banks is well-established, but it currently remains a work-in-progress for Islamic financial institutions (IFIs). Islamic finance is an alternative system with its own unique structures and, therefore, there are key differences to its...
If you ever had doubts about what the insurance industry was doing; Or if you really don’t believe in the very merits of the products you are selling; If ever you feel that you are but a fraud parading under the guise of offering the nobility of protection; If ever you doubt that the...
In a runup to our Healthcare Conference in Seoul later this month, Ms Paulina Casal, Head of the Swiss Life Network, looks at the growth of expatriates in Asia which has led to a boom in medical insurance cover for this niche segment of customers.
With the growing array of choices offered in the market and increased competition, companies should move away from merely paying lip service to the importance of the customer, and re-look at the ways that they sell. This was one of the main themes highlighted at the 6th...
During a one-day workshop on Business Contingency Planning and Disaster Preparedness for Avian Influenza in Singapore in January, business executives gathered to share information on what is needed to prepare for the Avian influenza pandemic should it strike. Presently,...
In the second of a series of three curtain raisers to the IIS conference in Chicago this July, Mr Patrick W Kenny, President and CEO, International Insurance Society Inc, USA, talks about the growing concern of corporate governance in the wake of high-profile...
The success of tied-agency channels in Asia is recognised worldwide. The question for most companies operating in the region today is “How do we build on our success as markets evolve?” In a lead-up to the LOMA/LIMRA Strategic Issues Conference in Hong Kong...
Today’s perpetually changing environment requires regulatory frameworks and processes to constantly adapt. In this article, extracted from the Geneva Papers, Mr James J Schiro, CEO of Zurich Financial Services, looks at some regulatory risks impacting the ...
This month, our Editor Wendy Koh chats with Mr Michael Wilkins, CEO and MD of Promina Group, and the Personality of the Year 2005 at the Australian and New Zealand Insurance Industry Awards, about his children, and how he sees the future generation...
In spite of the robust business environment, the issue of sustainability, maintaining cost efficiency and coping with the increasingly intense competition are key challenges, said participants at a recent CEO Roundtable for the General Insurance Industry in Australia...