There is no doubt that artificial intelligence is taking the world by storm and disrupting markets. Insurers are increasingly tapping into its potential across the value chain to boost operational efficiency and customer experience. But AI's remarkable efficiency has come with equally substantial energy usage. Can insurers harness AI's potential to make efficiency gains powerful enough to match the energy demands of the technology?
Asia-Pacific life profitability outlook remains stable, though foreign exchange hedging costs may weigh on margins in Japan, says Swiss Re Institute (SRI) in a report on world insurance developments.
Global non-life premiums are expected to grow to $4.8tn in 2025 (2024: $4.6tn), with an 85%:15% split between advanced and emerging markets, according to Swiss Re Institute's latest Sigma report, titled 'World insurance in 2025: A riskier, more fragmented world order'.
Overall, APAC's life insurance sector overall has a 'neutral' outlook at the moment, Fitch Ratings head of APAC insurance ratings Jeffrey Liew said at the company's media briefing.
Canopius has appointed Ms Micia Yong as head of property and specialty treaty APAC.
Today's insurance consumers are not only seeking more personalised and accessible insurance products, but they are also prioritising transparency and sustainability in their choices.
Utmost Wealth Solutions has appointed Mr Ben Munday as CEO of Utmost International Isle of Man, Singapore Branch, effective 1 August and subject to regulatory approval, as well as Mr Mark Christal as head of Asia.
AIA Life has appointed Mr Fisher Zhang as AIA Group regional chief executive for Korea, Mainland China and Vietnam, and chairman and non-executive director of AIA Life in Korea, as well as Mr Nathan Chuang as CEO for three years beginning 4 July 2025, a reappointment.
A total of 50 finalists has been revealed for the 10th Asia Trusted Life Agents & Advisers Awards. The finalists emerged from 13 markets and 47 different companies across the region.
One pressing reality that continues to affect all of us is medical inflation.