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Southeast Asia’s InsurTech sector: Needs profitability, customer-centricity and innovation
``To optimize their capabilities and sharpen their customer value...
Disruptive moves: Indian Insurers must modernize core platforms to meet competition and evolving customer expectations
Swayamjit Mishra, Managing Director & Partner, Leads Technology...
Five Facts on Fintech
Asia is ahead of other regions in many aspects of fintech. In China, the massive scale of its markets and a regulatory “light touch” in the early years supported fintech development, with China emerging as a global leader. In India, large-scale adoption of mobile payments and increase in money transfers have driven growth in the mobile payments
Cyber Liability: the last frontier of the insurance
Buyers are turning to carriers for comprehensive pre-breach and post-breach cyber risk management services, and carriers are responding, either directly or by offering these services through third parties. Some of these services include network vulnerability scanning, penetration testing both internally and externally of the network, assistance with business continuity planning, GDPR readiness and more
India will overtake China, sub-Saharan Africa population to double
By the year 2050, there will be some 9.7 billion people living on Earth, says a UN population report released on Monday. However, the overall growth rate will continue to fall, and more countries will have to adapt to the consequences of an ageing population
“Tech and cyber dominate insurers’ horizon scanning of business risks”
Urgent need for business and technology modernisation poses the greatest threat to the global insurance industry according to the survey. At the heart of responses was the view that many sector players are weighed down by legacy business models and IT infrastructure that are poorly equipped to handle the changing demands of the industry.
Motorbike Taxi Firms to Offer E-payment, Insurance Services in West Africa
As in Asia, the companies are also looking to turn their ride-hailing apps into one-stop mobile shops offering a host of services from e-payments to deliveries to insurance – the kind of strategy that transformed Indonesia’s Go-Jek into a $10 billion company in less than a decade.
Indian Millennials prefer buying larger Health Cover:Policybazaar
The latest trend of shifting preference towards buying policies with higher sum insured is in sharp contrast to the millennial buying trends five years back, when Rs. 3 lakhs and 2 lakhs were the most sought after health cover marks.
Getting Real on Climate Change Commitments
A new IMF paper discusses how carbon prices could be used to meet Paris CO2 mitigation pledges. The pledges and required carbon prices to meet those commitments vary by country, and the paper considers the impact on CO2 emissions of $35 and $70 per ton carbon prices. A carbon price significantly below $35 per ton would be sufficient to meet the pledge for the G20 countries, which together account for four-fifths of global emissions, and this is also true for key G20 members such as China and India.
Internet of Things: Value for Insureds
The Internet of Things is transformative for business processes too, and is being used to great effect across all sectors. Not only is IoT streamlining many processes for companies, it can also be used as a risk management and loss prevention tool.
Closing the Gender Gap
Women make up almost half of the world’s working-age population of nearly 5 billion people. But only about 50 percent of those women participate in the labor force, compared with 80 percent of men. The losses to an economy from economic disempowerment of women were estimated to range from 10 percent of GDP in advanced economies to more than 30 percent in South Asia and in the Middle East and North Africa.
AI and Risk Management
Key Takeaways
• Understanding the debate about the impacts of Artificial General Intelligence (AGI) is good but your organization is more likely to intersect AI in a narrow application. Understand the role that the volume and quality of data will play in your implementation. Be clear about responsibilities and obligations of data stewardship.
• Introduction of AI is enabling the successful achievement of corporate objectives. Consider AI as a driver or amplifier of existing risks already on your radar.
• Change is inevitable. Your career will change, and you need to participate in that evolution. Opportunities exist for those who can apply the principles of continuous learning