1. Thailand: Rising costs of employer-provided health insurance becoming a concern
The rapid rise of employer-provided health insurance has quickly become one of the biggest financial challenges facing companies throughout the world, and Thailand will share the same fate if the current trend continues for another five to 10 years.
2. Australia: Older people seek more financial advice
Wealthy older men are the biggest consumers of financial advice and are far more likely to use a planner than those under age 34, or women, a recent study by Roy Morgan Research shows.
Thursday, July 28, 2011
Tuesday, July 26, 2011
Insurance News Across Asia 27/7/2011
1. Asia: Motor insurance can be profitable if priced properly
The growing demand for motor vehicles around Asia has created big opportunities for insurers, which will have to look at ways of providing cover at affordable prices while trying to maintain underwriting surplus. To be effective in this market, companies need to look seriously into their approach to pricing, said speakers yesterday at the 2nd Asian Motor Insurance and Claims Management Conference being held in Colombo, Sri Lanka.
2. Global: Opportunities for insurance innovation
Younger consumers and those from emerging markets are much more interested in innovations such as mobile services and much more likely to shop around, according to a survey of 7,000 people from 13 countries by the global consulting firm, Accenture.
3. Australia: Apartment owners face premium hike "crisis"
Apartment owners in north Queensland face premium rises of up to 400% in what has been called an "insurance crisis" by an umbrella body which represents the strata title sector. The rate hikes have led strata title owners to complain to a government panel that they are being unfairly targeted with "explosive" increases in insurance costs.
Asia Insurance Review 27/7/2011
The growing demand for motor vehicles around Asia has created big opportunities for insurers, which will have to look at ways of providing cover at affordable prices while trying to maintain underwriting surplus. To be effective in this market, companies need to look seriously into their approach to pricing, said speakers yesterday at the 2nd Asian Motor Insurance and Claims Management Conference being held in Colombo, Sri Lanka.
2. Global: Opportunities for insurance innovation
Younger consumers and those from emerging markets are much more interested in innovations such as mobile services and much more likely to shop around, according to a survey of 7,000 people from 13 countries by the global consulting firm, Accenture.
3. Australia: Apartment owners face premium hike "crisis"
Apartment owners in north Queensland face premium rises of up to 400% in what has been called an "insurance crisis" by an umbrella body which represents the strata title sector. The rate hikes have led strata title owners to complain to a government panel that they are being unfairly targeted with "explosive" increases in insurance costs.
Asia Insurance Review 27/7/2011
Saturday, July 23, 2011
Insurance News across Asia
1) Nine in 10 Singaporeans are underinsured
Only one in 10 Singaporeans is currently adequately insured, based on the industry recommendation of having total coverage of approximately 10 times one's annual income. This is according to the 2011 AIA
Singapore Nationwide Protection Survey research findings.
2) Tokio Marine to offer Japan's 1st one-day car insurance
Tokio Marine & Nichido Fire Insurance will begin offering auto insurance by theday in October - an industry first, according to an announcement by the non-life insurance giant.
3) Japan: Quake insurance sales soar
Earthquake insurance sales to homeowners in Japan grew more than five times in April from a year earlier, according to a report by the Non-Life Insurance Rating Organization of Japan (NLIRO).
Source: Asia Insurance Review July 2011
Only one in 10 Singaporeans is currently adequately insured, based on the industry recommendation of having total coverage of approximately 10 times one's annual income. This is according to the 2011 AIA
Singapore Nationwide Protection Survey research findings.
2) Tokio Marine to offer Japan's 1st one-day car insurance
Tokio Marine & Nichido Fire Insurance will begin offering auto insurance by theday in October - an industry first, according to an announcement by the non-life insurance giant.
3) Japan: Quake insurance sales soar
Earthquake insurance sales to homeowners in Japan grew more than five times in April from a year earlier, according to a report by the Non-Life Insurance Rating Organization of Japan (NLIRO).
Source: Asia Insurance Review July 2011
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