AM Best TV & Radio
Singapore Conference, Finances and Innovation
AMBestTV reports on some nonlife insurers in Japan looking beyond their borders and other news from the Singapore International Reinsurance Conference; improving women’s financial resiliency; and dealing with innovation.
- February 2019
Graham Clark, chairman, Japan Risk Specialist Ltd., said Japan is dominated by three large nonlife insurers, but those insurers have shown increased appetite for business in other parts of the world. Meanwhile, more than 90 monoline carriers have sprung up to serve targeted risks. Clark spoke with AMBestTV at the Singapore International Reinsurance Conference. (Oct. 29, 2018).
Angela Kelly, chief executive officer, Lloyd’s Asia-Pacific, said the London-based insurance market continues to expand its Asian presence, with China, Indonesia and India predicted to become dominant players in the global economy by 2050. Kelly spoke with AMBestTV at the Singapore International Reinsurance Conference. (Oct. 29, 2018)
Jane Portas, partner, PwC, said directing attention to key life points through human resources and market solutions will help improve women’s financial resiliency. She said data shows there are financial resilience issues for both men and women, but it’s much more pronounced for women and the Insuring Futures program and a component of that, Insuring Women’s Futures, is seeking to address those issues. (Dec. 21, 2018).
Lucien Mounier, head of Asia-Pacific, Beazley, said specialty insurance is finding a foothold throughout Asia, including for sporting events, cyber coverage and more. Mounier spoke with AMBestTV at the Singapore International Reinsurance Conference. (Oct. 29, 2018).
Patricia Saporito, senior director, SAP Global Center of Excellence for Analytics, said insurers have embraced the need to rapidly leverage new technologies and capabilities, but many are still wrestling with how to build innovation into their organization. (Dec. 3, 2018).
Doniella Pliss, associate director, AM Best, said multiparty control in Congress is less likely to produce large-scale legislative action in health care, but state regulators could affect specific sectors. (Dec. 12, 2018).
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Cyberbreaches, Promoting Gun Safety
AMBest Radio speaks with experts on cyber regulation and gun violence.
Scott Stransky, assistant vice president and director of emerging risk modeling, AIR Worldwide, said evolving cyberrisk models can’t predict the next breach, but are better at identifying environments in which cyberbreaches are more likely.
Peter Kochenburger, professor, University of Connecticut School of Law, said insurers could help promote gun safety through policy design and how they underwrite locations where firearms are present.
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