Asia-Pacific is the engine for global growth in insurance.
In life insurance alone, the region will account for nearly 50% of top-line gross written premium growth in the years to come, according to consultants at McKinsey.
Incumbents cannot be complacent they need to keep their eyes peeled for new entrants that use technology to create a strategic advantage. Their relationship with the next generation of consumers is at stake.
Out of China, we have seen disruptive insurers burst onto the scene such as Shanghai-based digital only insurer ZhongAn, and ecosystems flourish including Shenzhen-headquartered Ping An.
If an insurance...