Coverage of the Singapore International Reinsurance Conference
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.
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.
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.
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.
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.
