More than 60% of senior insurance executives in Australia and the Asia Pacific believe business models will need to be reinvented post-COVID, according to a survey by global investment giant BlackRock.
The National Insurance Brokers Association of Australia (NIBA) – engaged Deloitte Access Economics to produce a report on the economic value of the insurance broking industry. The report described and quantified the elements that comprise the industry’s value: To customers, insurers, the economy, governments and broader society.
Over the past two years, the Asia-Pacific insurance industry has seen a slew of extreme weather events, compounded with the unprecedented disruption caused by the COVID-19 pandemic. These, according to a report by S&P Global Ratings, have made reinsurance more important and, unfortunately, more costly.
According to a new report from Allianz Global Corporate & Specialty (AGCS) called 'COVID-19 – Changing Claims Patterns', claims trends and risk exposures in different lines of insurance are likely to evolve in both the mid- and long-term as a result of the COVID-19 pandemic.
Nearly nine out of 10 workers want to be able to choose whether to work from home or the office once COVID-19 workplace restrictions ease, and have greater autonomy over their hours, according to research from Cisco Systems.
The insurance industry has not been spared the devastating impact COVID-19 has had on the global economy. There is, however, a consensus that the pandemic has brought the protection gap in Asia to front-of-mind and raised consumer awareness of the need to be financially protected enough that (re)insurers need to capitalise on this window of opportunity.
The World Economic Forum (WEF) has today published its survey on ‘Regional Risks for Doing Business 2020’ which has identified that the top risk concern facing businesses in the Asia-Pacific region today is the spread of infectious diseases.
Capgemini recently released its World Insurtech Report for 2020, in which a major theme was that insurers must turn their focus to meeting the digital needs of customers as big technology firms and non-traditional players continue to enter the insurance space.
Senior insurance professionals worry that the world’s dependence on online technology has grown so great that it may surpass the industry’s capacity to fully protect it, according to the upshot of a series of interviews conducted by CyberCube CEO Pascal Millaire.
Forty-one percent of American adults feel that the COVID-19 pandemic has changed how their family handles finances and nearly one in four (22%) will consider increasing their life insurance coverage this year, according to a recent survey by disability income provider group Unum.