APAC
Only 28% of APAC insurers prepared for AI shift
Half of insurers attribute poor customer experience to limited technology adoption.
APAC insurers trim equity risks, increase capital efficiency: Moody's
APAC P&C insurers face different risks compared to their US counterparts.
Milton’s $50b losses won't impact rated insurers: Fitch Ratings
This will bring 2024’s total global insured losses to over $100b.
Insurance third party administrators market to reach $501.93b by 2028
Major trends include blockchain integration and predictive analytics.
More than a third of consumers warm to AI in insurance claims
Markets like Australia showed the least enthusiasm.
Travel insurance market to grow by $12.07b by 2028
Key drivers include rising consumer disposable income.
Hurricane Milton could add to insurers’ $60b NatCat losses in 2024
Global reinsurers could see their claims payouts rise.
M&G Life commits $250m to expand residential investments in Asia
This brings total real estate exposure in the region to $2.5b.
MSIG Asia taps new VPs to lead transformation and underwriting efforts
One will focus on operational efficiency whilst the other on non-marine business.
Global specialty insurance market to grow by $57b in 2028
Lack of robust IT security infrastructure heightens risks.
Large cyber claims jump 14% as privacy breaches worsen in 2024
Costs could skyrocket from €20,000 to €20m if left unchecked.
Lloyd’s projects $14.5t loss from hypothetical global conflict
The scenario highlights the vulnerability of global trade.
MoneyHero, bolttech new car insurance platform to expand in two markets
MoneyHero’s insurance segment accounts for 7% of total revenue in 2023.
Will low premiums persist in offshore energy insurance?
Neither frequency nor severity of claims significantly impacted market capacity.
Insurance scrutiny intensifies on coal, wildfire risks
However, power Industry business interruption sectors see improved pricing.
New Beazley Quantum targets corporations with over $1b turnover
This initiative injects $100m in fresh capacity into the cyber insurance market.
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Industry experts discuss how to navigate Vietnam’s challenging digital landscape at the Asia Banking and Finance and Insurance Summit.
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Is the Asian auto insurance industry ready for the cars of the future?
From traditional brokers to tech-led platforms: How B2B insurance is changing in Singapore