KPMG: Empowered for the future – Insurance ReinventedJune 24 2016
There is an increased sense of urgency in the air, with many established insurance companies seeking to reinvent themselves to remain relevant for their customers in a changing world.
While most sector participants know their business and operating models need to evolve, KPMG International’s experience and research suggests that the vast majority struggle to extract the full value from their transformation initiatives. Only 5 percent of insurers surveyed said that their transformation efforts were ideal; and 42 percent said that their lack of change management acumen is a barrier to successful transformation.
- August 20
The move comes as the broking group's MGA division acquires AIG's HNW home and contents portfolio.
- July 2
The Asia chief executive discusses Covid-19, going digital and restructuring.
- April 10
Climate change, increased urbanisation and a growing concentration of assets were on the risk agenda for 2018.
- March 19
Economic uncertainty, more complex risks and tighter underwriting are all influencing Asia's markets.
A longer claims process and increased cost were some of the challenges faced by insurers.
Tropical cyclones have always been a significant peril in Asia and a major focus for risk assessment in the region.