Sailing the seven seas
Philippines
Industry maintains strong growth momentum in 2025
Rising medical insurance costs strain Filipinos
Adapting to shifts in the reinsurance segment
Economic growth drives reinsurance segment
Philippines faces persistent life insurance coverage gap
Digitalisation as the way forward for Philippine non-life insurance sector
Smaller marine ports in SEA struggle to keep up with climate threats
Marine parametric insurance finds opportunities amid challenges
Current geopolitical situation and marine war risks
Marine insurers face the war risk challenge
Australia
Home insurance becomes costlier in Australia's at-risk regions
Digitalising insurance for SMEs in Australia
Legacy mindsets both challenge and opportunity for Australian InsurTechs
Parametric insurance addresses Australia's viticulture protection gap
ARPC maintains strong terrorism reinsurance framework backed by US$10bn guarantee and risk modelling
Navigating geoeconomic fragmentation
General
Contextual AI redefines risk on Japanese roads
Cyber resilience for insurers means moving beyond a robust system
InsurTech drivers in APAC include ecosystems and changing attitudes
Global ambitions, local impact
Floods continue to widen the economic disparity gap in South Asia
Life & health
Bancassurance: Asia's untapped financial frontier
Thailand's life bancassurance segment navigates a complex landscape
AI personalises life insurance experiences
AI reshaping mental healthcare through scalable, always-on support
View from India: Insurers can help control antimicrobial resistance
Growing numbers of silvers is an opportunity for insurers
Building bridges across Asia's insurance ecosystem
Asia: Need to narrow the health and mortality protection gaps
Australia: CALI supports ban on genetic testing in life insurance underwriting
China: Strict regulatory protection for rights of people working after retirement
Global M&A activity slips in 1H2025
Products and alliances
People on the move
By Cheng Xin Yap, Tharan Ganesan, and Tananya Santipinyolert
Recent floods in major cities around Southeast Asia and other parts of the world have reopened the conversation on flood coverage in insurance products. This year alone Malaysia, Pakistan, and South Korea have all witnessed the worst floods to hit their shores in decades. As it stands, it is estimated that only 18% of all economic losses from floods in the past decade were insured.
A specially curated webinar led by Milliman US-based data analytics specialists
Well-managed actuarial outsourcing offers a viable solution to meet the increasing demand for actuarial resources
By Subhash Khanna and Shamit Gupta
No insurance product has been as adversely affected by the COVID-19 pandemic as travel insurance. Travel and social restrictions both within and without countries were introduced and are still in force in an effort to curb the spread of the virus. With the lack of travel came a precipitous drop in travel insurance premium volumes. However, global vaccination rollouts have provided a glimmer of hope for worldwide travel, sparking a conversation on the evolution of travel insurance in a post-pandemic world. In this brief article Milliman consultants explore how ASEAN countries have been gradually opening up their borders, along with the progress shown by insurers in the region to adapt to the evolving situation and its repercussions for the travel insurance products of tomorrow.
Over the past two decades our lives have been transformed by the information-rich Internet. At the hearts of digital giants like Google, Facebook, Amazon, Airbnb and Netflix we often find some ranking and filtering algorithms that use customer attributes to improve and customize predictions.
By Lalit Baveja, Principal and Senior Healthcare Management Consultant, Milliman
Last year, Milliman developed a Hong Kong fulfillment ratio index to understand the gap between illustrated non-guaranteed benefits at point of sale and actual non-guaranteed benefits declared by life insurance companies in Hong Kong.
Milliman’s annual study on reported year-end 2019 embedded value (EV) and value of new business (VNB) results for 53 major multinational and domestic life insurers across Asia was released in August 2020.
Medical inflation is a key driver of health insurance costs which in turn lead to premium increases. Health insurance companies are continuously looking for ways to manage medical inflation better to keep premiums competitive for customers and to mitigate lapses.
The first edition of Milliman’s Life insurance capital regimes in Asia: Comparative analysis and implications report was published in July 2019. Well received by the market, as the first of its kind, the report has been referred to and cited several times over the last year. In view of the pace of change in, and increasing focus on, regulatory (and economic) capital across the region, Milliman has compiled an updated report a year later.
In Indonesia, insurance compliant with Syariah principles can be sold through either a Syariah business unit or “window” of a conventional insurance company or, less commonly, through a standalone Syariah insurance company. Insurance Law 40, enacted in 2014, mandates insurance companies to separate their Syariah windows from their conventional business into a separate entity, to “spin-off,” when:
Insurers and reinsurers have been outsourcing actuarial work to captive units or third-party service providers for several years. Recently the industry has witnessed renewed interest in actuarial outsourcing, with an increasing number of companies either setting up new outsourcing units or expanding their existing ones. This trend is especially true for life insurance companies, especially in light of increasing regulatory and reporting requirements, including International Financial Reporting Standard (IFRS) 17, long-duration contracts targeted improvements (LDTI), and new risk-based capital regimes in Asia