Coverage of the Singapore International Reinsurance Conference
Recent natural catastrophe losses in Asia/Pacific have highlighted the challenges of cat modeling, SIRC attendees said.
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.
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.
Graham Clark, chairman, Asia Affinity Holdings, said Japanese life and non-life insurers have been following a strategy of building and acquiring business outside of Japan.
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.
