Data Drives New Exposures, Coverages and Competition

Insurers at the 14th Singapore International Reinsurance Conference said demand for cyber coverage is surging, and that staying ahead means finding new ways to acquire and analyze a wider range of data sources.

Peak Re's Hahn: China's Insurance Tech, Products Developing at a Rapid Rate

Franz Hahn, CEO, Peak Re, said Asia's largest market is making room for innovation, with early impact in coverage for professionals. Eventually, the technology will reach households.

Munich Re's Pohlchristoph: For US and Asia, Most Cat Losses Are Uninsured

Hermann Pohlchristoph, board member for Asia, Munich Re, said that about 40% of economic losses from recent U.S. catastrophes are covered by insurance, higher than the up to 25% share of losses covered in Asia catastrophes in recent years.

Swiss Re's Plunkett: Insurance Growth Begins With Financial Literacy

Jayne Plunkett, Swiss Re's CEO for reinsurance in Asia, said understanding of business risk and the role of insurance varies among countries in Asia.

Marnix's Komoguchi: Japan's Insurance Market Mature, but Poised for Change

Toru Komoguchi, president and CEO, Marnix, said Japan is dominated by three large nonlife insurers, but changes are afoot to make it more flexible and competitive.

Markel's Cannock: Major Cats Put Spotlight on ILS Products

Matt Cannock, principal officer and managing director, Markel International, said losses in the U.S. have the insurance industry watching how insurance-linked securities will perform.

Guy Carpenter's Gallagher: Distribution Is Top Challenge for Insurers in Asia

Tony Gallagher, chief executive, Asia Pacific, Guy Carpenter, said mature markets in Asia are dealing with the challenges of insurtech and new forms of distribution.

RMS' Burgess: Data Privacy Rules Could Constrain Modelers' Abilities

Paul Burgess, vice president, RMS, said developing laws in Asia and elsewhere could hamper insurers' abilities to share and use data that could be used to improve models and predict risk.

Munich Re's Farny: Opportunities Emerging in China Beyond Motor

Tobias Farny, Munich Re's chief executive Asia Pacific covering greater China, Australia and New Zealand, said the Chinese insurance market remains dominated by motor insurance, with the next stages of growth set for personal and commercial coverage.

AIR's Simic: Aggregate Losses From Smaller Cats Can Surpass Major Events

Milan Simic, executive vice president and managing director, international operations, AIR Worldwide, said Asia has already been home to a broad range of catastrophes.

Video Feed CTAs/Ads