Insurance coverage within the Asia-Pacific: Navigating the New
Although the COVID-19 pandemic has affected insurance worldwide, we are optimistic about the outlook for the APAC insurance market: the recovery in many APAC markets is ahead of the world, while demographic change and relatively low insurance penetration rates give further cause for optimism in terms of potential give for growth.
However, insurers in APAC – the world’s largest life insurance market and the second largest general insurance market – have a lot to do, especially when it comes to using technology to improve product design, delivery, and customer service.
In short, they need to better understand the changing needs of consumers. They can do this by making better use of data and looking at the cross-industry bundling of products and services – suggestions that our research suggests are open to their customers’ reception.
Technological solutions such as artificial intelligence, data analysis and cloud services will be invaluable in improving the delivery of products and services and making these offerings more accessible.
Want to learn more about how APAC insurers can survive and thrive? Check out our comprehensive new document entitled “Insurance in APAC: Navigating the New”.
Click / tap to read our comprehensive report.
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