QBE Asia’s Post

Glocalization is the flavour of the season. Desi talent is flooding the TikToks & and the Grams of the world. We seem to be getting quickly at ease with the GPTs of the world. Isn't it about time, we rethought Global mandates for Insurance Brokers? In this piece, explore with us, the reasons, why global mandates aren't a long-term game. https://lnkd.in/gbJrhDme #vocalforlocal #insurance #ethikainsurance

With Asia's insurance landscape experiencing explosive growth, prioritizing pre-emptive fraud management is no longer a luxury, but a strategic imperative. This proactive approach safeguards the industry's core foundation of trust by utilizing cutting-edge technology to identify and prevent fraudulent activity before it erodes policyholder confidence and inflicts financial losses. By embracing robust compliance practices and harnessing the power of AI and data analysis, insurers can build a more secure environment, foster a culture of ethical practices, and ultimately ensure the long-term sustainability of the Asian insurance sector. #digitalbusinesstransformation #infosysconsulting #insurancetransformation #partnerships #ecosystemservices #nextininsurance #healthandwellness #consultingexcellence #customerengagement Aaro Jitin Anmol Mailton Therese Shan Hamza Sushil Chris Fiorillo Gitartha Alice K. Shaddie Jane Victor Bibescu Dheeraj Marcus Zack Bell Atul

Yet another fine piece from #mckinsey on the untapped potential in the SME segment for corporate line insurance. Several great points about low satisfaction in the customer base, the possibility of simplifying the offerings and - not the least - leverage digital sales and claims handling are very worth looking into.

Your reputation is everything when it comes to attracting new policyholders and encouraging loyalty in existing ones. Prioritize its protection. #InsuranceMarketing #ReputationManagement #Insurance https://lnkd.in/eXp9DbRm

Dominick Hoare from Munich Re Specialty Group sheds light on insurance's pivotal role in managing global challenges. In a chat with Insurance Business, he emphasizes the sector's unique ability to innovate and address complex risks. https://hubs.la/Q02dpzBT0 #Insurance #InsuranceInnovation #RiskManagement #MunichRe

While embedding insurance brings carriers closer to where their customers are, it decreases the personal contact that agents have with insureds, observes Sebastian Kohls, associate partner in the New York office of McKinsey & Company. “For many things, we still see a strong preference for talking to a human and so we don't expect the agent model to completely go away,” he said. https://bit.ly/3TVX1ti #embeddedinsurance #insuranceagents

Insurers must shift from product-centric to customer-centric embedded insurance models to tap into the trillion-dollar market opportunity, said experts at Digital Insurance APAC 2024 in Hong Kong last week. Lei Yu (于蕾), CEO of North Asia at QBE Asia, discussed the importance of building more tailored insurance solutions. Arthur Siu, Head of Retail Services at Zurich Insurance, emphasised that insurers now need to be able to launch products more rapidly to meet changing demand. Valer Merenyi, Regional Director of Digital and Tech Development at Ageas Group, underlined the need to update insurance products regularly to keep up with customer needs. More here: https://lnkd.in/gEuZf7Xn (free to access as part of (Re)in Asia's Digital Insurance APAC 2024 coverage).

Our next CX webinar starts in just one hour (you can find a link to register in the below). Ahead of that, we analyse the latest FCA value measures to see how the industry is faring on claims #Insurance #Claims #Data #Research

Insight into the insurance market: FCA's decision to suspend GAP insurance sales triggers a shift towards customer-centric practices. NTT DATA experts discuss the impact on motor insurers and the importance of transparency and fairness in the industry. https://hubs.la/Q02lCPgr0 #FCA #GAPInsurance #InsuranceIndustry #CustomerCentric #NTTDataInsights

Great blog quoting our very own Shane McCabe “Demanding proof of NCD can not only inconvenience customers but it can also leave insurance providers open to the risk of deliberate misstatements or NCD being applied to multiple covers. A greater level of data enrichment from LexisNexis Risk Solutions will help to reduce such risks and the quote process is made more efficient by using digitised proof. We are pleased to have signed this contract with Hughes Insurance at the start of its data enrichment journey.”  #insurance #dataanalytics #noclaimsdiscount #lexisnexisrisksolutions