EY
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Rising claims pressure Singapore insurers’ profit margins
Rising claims pressure Singapore insurers’ profit margins
Despite strong premium growth in 2024, long-term profitability challenges insurers.
APAC insurance CROs lag peers on operational risk preparedness
Cybersecurity remains the leading risk in the region, cited by 62% of APAC CROs.
Indonesian insurers’ old-school thinking holds back sector
The industry must digitise to tap the nation’s vast Gen Z and millennial consumers.
Southeast Asia’s insurtech sector hits $2.4b in 2023
It was mainly driven by Singlife’s merger with Aviva Singapore.
APAC insurance risk officers confront these 3 top concerns head-on
Discover how 2 insurance leaders tackle conduct risk, cybersecurity, and business model evolution.
Igloo tells 3 strategies to captivate Gen Z in Southeast Asia
40% of Gen Z are worried about making poor financial choices.
Proactive dialogue with regulators, embracing tech advancements are key to preemptive compliance – EY's Anita Sun-Young Bong
The EY Partner reiterated that though innovation carries inherent risks, balancing it with risk management through crisis simulation systems ensures sustainable progress.
Conduct risk puts 54% of insurance CROs on high alert
38% of APAC insurers are implementing AI tools, higher than the global average of 22%.
EY consulting partner tallies six emerging focus areas insurers must be on the lookout for
The expert said the life and health insurance and retirement industries will witness transformative changes in the coming years.
Top three things killing the insurance industry
Thanks to these threats, 54% of insurers had an ROE below their cost of equity.
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1. Remote job demand in Singapore insurance rises 15.3% 2. India insurance market sees moderating premium growth: Report 3. Tokio Marine Life, RHB launch guaranteed-acceptance plan for seniors 4. Manulife to sell MVI Life to Japan’s Asahi Life 5. Hong Kong reinsurers to absorb significant claims from Wang Fuk Court fireResource Center
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Commentary
AI isn’t replacing insurance, it’s finally making it work