Digital Insurance Insights - May 2024
In this week's newsletter, we look at the latest developments in the dynamic Asian insurance market, highlighting emerging trends and innovative strategies driving growth in the region.
We also celebrate the significant contributions of women in the insurance industry and explore the evolving landscape of the auto insurance industry.
Thanks for subscribing and we look forward to sharing our views next month!
Why insurance inclusion is needed in Indonesia
As the need for insurance inclusion becomes more apparent, it is crucial for the insurance industry to continue promoting and educating the remaining 90% of the population on the importance and benefits of having a comprehensive insurance plan.
How can women juggle family and an insurance career?
While juggling a family and an insurance career may seem daunting, it is possible with the right tools and mindset.
By setting clear boundaries and prioritising self-care, women can excel in both aspects of their lives.
AI devours data but likely won't eat insurance brokers
While AI technology continues to advance and become more integrated into our daily lives, it is important for brokers to remember their unique abilities and strengths.
By focusing on answering key questions, providing exceptional service, and investing time where AI may fall short, brokers can continue to add value and help their customers choose the best coverage for their individual needs.
How brokers can thrive in an age of digital transformation
Despite the convenience and accessibility of online platforms, it is evident that many customers still value the personal touch and expertise of insurance brokers.
This human element provides a sense of trust and reassurance, especially when navigating complex policies and making important financial decisions.
Philippine microinsurance soars to new heights with 17.35% growth
Microinsurance is a crucial and accessible option for low-income individuals in the Philippines.
With premiums capped at a low percentage of the minimum wage, it offers financial protection for risks such as death, injury, and property damage.
Low penetration rates challenge Indonesian insurance
While Indonesia's insurance industry has seen impressive growth over the years, it still faces significant challenges in expanding its market penetration.
As the country's economy continues to develop and its population grows, there is a need for the insurance industry to evolve and adapt in order to reach a wider audience and provide essential protection for individuals and businesses.
Malaysia's general insurance sector set for $6.8 billion surge
It looks like motor insurance will continue to dominate the general insurance market in Malaysia and experience steady growth thanks to increased vehicle sales.
However, with the rising number of road accidents, it's likely that insurance companies will have to re-evaluate their risk exposure and potentially raise premium rates.
How to succeed as a broker in today's environment?
Having a strong social media presence is crucial for insurance professionals looking to connect with younger clients.
With the majority of this demographic turning to the internet for their needs, it's important to have a presence where they are most active.
How auto insurers are using tech and data to make the road safer
While it's true that modern technology can pose risks to drivers, it's also true that it can be used to enhance safety on the roads.
From usage-based insurance programs to advanced safety features like automatic braking, technology is being harnessed by auto insurers to make driving a safer experience.
Trends and transformations in Thailand's insurance landscape
As we look to the future of the insurance industry in Thailand, it is clear that there is great potential for growth and success.
With technological advancements, a growing middle class, and increased awareness about the importance of insurance, the industry is poised for a bright future.
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