APAC
Insurers are increasing investments in generative AI by 300%
Half of CEOs view AI as an opportunity, whilst the other half see it as a risk.
Miller gets new chief operating officer
She brings over three decades of experience.
Sompo welcomes new COO for APAC
She will be based in Singapore.
B2B2C insurance sees 9.6% annual growth forecast
The market generated $4.28b in 2022.
Insurers rank regulatory changes, geopolitics as top risks
APAC insurers anticipate high inflation and strong economic resilience.
APAC reinsurance market sees stable pricing in 2024
Although, extreme weather and NatCats could disrupt current pricing stability.
Asia’s business insolvencies to rise by 3% in 2024
If excluding China, it could rise by 8%.
Renewable energy insurance market to hit $23b by 2028
The market will reach $18b in 2024.
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.
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Commentary
For Asia’s insurers, boldness is the key to an AI-driven transformation
India’s cyber risk paradox: High attack rates, low insurance preparedness