Singapore
From hype to reality: Examining the industry's ‘transformation'
Rather than consider the many exciting, and often challenging, technology-enabled developments that lie ahead, I thought for this article I would take a slight different tack. So let’s instead take a look at the reality of our industry from the perspective of where most insurers are today, and against that backdrop, what insurers can do to change.
From hype to reality: Examining the industry's ‘transformation'
Rather than consider the many exciting, and often challenging, technology-enabled developments that lie ahead, I thought for this article I would take a slight different tack. So let’s instead take a look at the reality of our industry from the perspective of where most insurers are today, and against that backdrop, what insurers can do to change.
The future of insurance in a digital world
Disruptive innovation is amongst the most referenced but least predictable trends to impact the insurance industry in a generation and it remains a pervasive challenge for many in this regulated industry. When surveying the insurance landscape across Asia, three key trends continue to play a significant role, leading innovations in theinsurer’s value chain.
Insurance trends in Asia
Customer Centricity and Technology remain the two key themes as the Insurance sector continues to seek growth amidst margin pressures, regulatory demands, and savvy customers in Asia.
How AI is changing the insurance industry
Insurers are beginning to explore the use of AI.
Innovation shakeup hits Singapore's life insurance industry
The industry is grappling with increasing healthcare costs and outdated regulation.
Insurers must embrace investment risk
47% of insurers expect to increase their exposure to risks.
Insuring the uninsurable: Why some people are too risky to insure at any premium
Insurers may refuse to take on certain risks.
Hey insurers: No robo-advisors here
Seven in 10 HWNIs prefer personal service amidst digitalisation.
Are insurers in Asia ready for blockchain?
The first place to start may be in DLT-automated claims processing.
What are the top 5 B2C insurance brands on social media?
Facebook and YouTube are the most popular platforms for insurers.
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09
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Proactive dialogue with regulators, embracing tech advancements are key to preemptive compliance – EY's Anita Sun-Young Bong
![Proactive dialogue with regulators, embracing tech advancements are key to preemptive compliance – EY's Anita Sun-Young Bong]()
Co-Written / Partner
The EY Partner reiterated that though innovation carries inherent risks, balancing it with risk management through crisis simulation systems ensures sustainable progress.
The EY Partner reiterated that though innovation carries inherent risks, balancing it with risk management through crisis simulation systems ensures sustainable progress.
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Most Read
1. OCBC's bid for Great Eastern Life to boost sector valuations 2. Singlife introduces first market insurance for dementia care 3. SG’s life insurers see 32.2% leap in new business premiums in Q1’24 4. HSBC Life Singapore unveils universal life plan for affluent clients 5. Is ‘Londonisation’ good for Asia’s M&A insurance market?Awards
Jul
09
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Firewalls are never enough