News Regional21 Nov 2017

PIC 2017:Industry's future hinges on innovation, engagement overhaul

| 21 Nov 2017

Major changes are upon the insurance industry and these include the shift of global growth towards Asia; accelerating industry disruption, which will change the way businesses are conducted; and "a new societal deal", defined by emerging risks, economic growth experimentations and a growing middle class. To compete and win in the next five years, insurers will not only need an overhaul of their businesses, including engagement, distribution, products - underscored by data - but must also reaffirm their purpose to customers, said speakers at the 28th Pacific Insurance Conference in Hong Kong yesterday.

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