Coverage of the Singapore International Reinsurance Conference
Steve Arora, chief executive officer, Axis Re, said events across the globe can affect overall profitability of catastrophe coverage.
Angela Kelly, Singapore country manager, Lloyd's, said changing lifestyles and risk environments mean insurers must identify new types of risk and match them to coverage.
Mark Prichard, chief executive officer, NMG Consulting, said insurers in countries such as China and South Korea are demonstrating tech-based innovation, but those developments have been slow to develop in many other markets.
Scott Ryrie, co-CEO, AM Best Singapore, said Indonesia, Thailand, the Philippines and other Asian locales have shown growing demand for ratings.
Lucien Mounier, head of Asia-Pacific, Beazley Syndicate, said reaching Asia's diverse markets is a team effort that involves working with MGAs, local insurers and others.
