Coverage of the Singapore International Reinsurance Conference
Andy Woodhouse, managing director, Asia-Pacific, RMS, said 20% to 30% of Japan's economy is based on technology and dependent on complex supply chains.
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.
Greg Carter, managing director of analytics for EMEA and Asia-Pacific, AM Best, said risk-based capital regulatory systems generally give rise to a stronger insurance sector, although operating performance can lag in the short term.
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.
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.
