Reinsurance News
protection gap
Technology key in closing emerging Asia’s life, health protection gap: survey
10th April 2019
Increasing rates of cancer, diabetes and cardiovascular diseases constitute emerging Asia’s single most important life & health protection gap, according to a survey conducted by research, communication and business development consultancy firm Dr. Schanz, Alms & Company. The findings - part of the Peak Re-sponsored Emerging Asia Life Insurance Pulse survey - ... Read the full article
Swiss Re is focused on social value of protection gap: Moses Ojeisekhoba
15th March 2019
While closing the global protection gap offers huge potential for the re/insurance industry to grow its premium base, Swiss Re is focused primarily on the value of building resilience at both the individual and societal level, according to Moses Ojeisekhoba, the company's CEO of Reinsurance. Speaking during a lecture in the ... Read the full article
Technology is key to closing ASEAN protection gap, report execs
12th March 2019
New digital technologies represent the most promising remedy to closing the significant non-life insurance protection gap in Southeast Asia, according to the results of the ASEAN Insurance Pulse 2018 report by Alms & Company and Malaysian Re. The report, which surveyed key re/insurance executives from across the Association of Southeast Asian ... Read the full article
Emerging Asia’s expanding ecosystem is substantial, self-sufficient: Peak Re’s Kershaw
8th March 2019
There’s an expanding ecosystem in emerging Asia which is now substantial and self sufficient for the majority of its business, according to Peak Re’s Managing Director of Global Markets, Chris Kershaw. Addressing an audience yesterday in the Old Library at the Lloyd’s of London headquarters, Kershaw said it is no longer ... Read the full article
Global pension gap a major re/insurance opportunity: Swiss Re
25th January 2019
A growing crisis in the global pensions system represents a major opportunity for the life re/insurance industry to close the funding gap, according to a new report by the Swiss Re Institute. Swiss Re found that the shortfall in pension funding for the global retired population is forecast to grow by ... Read the full article
Global economy has become less resilient, but insurtech can help: Swiss Re
4th January 2019
The global economy has become less resilient to shocks in the ten years following the financial crisis, but new public-private partnerships, in combination with the use and development of new technological capabilities, can help to strengthen it, according to reinsurance giant Swiss Re. In the company’s latest sigma report, titled ‘Global ... Read the full article
ASEAN insurance execs raise protection gap concerns
5th December 2018
The protection gap is a serious concern for senior insurance executives throughout the Association of Southeast Asian Nations (ASEAN) region, as large uninsured losses adversely affect a country’s fiscal position and ability to recover swiftly, according to a report published by Dr. Schanz, Alms & Company and Malaysian Re. A lack ... Read the full article
New tech key in narrowing protection gap: Swiss Re’s Jerome Haegeli
21st November 2018
Speaking yesterday at Swiss Re’s London offices, the firm's Chief Economist Jerome Haegeli, alongside the Head of Insurance Risk Research Dan Ryan, stated that it will take a combination of proactiveness and the deployment of new technologies to narrow the global protection gap. “More technology is a huge upside to the ... Read the full article
Asian markets to drive re/insurance growth over next decade: Swiss Re CEO
8th November 2018
Markets in Asia, and China in particular, are likely to be one of the main drivers of growth for the re/insurance industry over the next ten years, according to Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re. Speaking in an interview with Bloomberg TV, Mumenthaler suggested that exponential growth can ... Read the full article
Re/insurers must address Asia Pacific’s protection gap or risk irrelevancy: Guy Carpenter
30th October 2018
Michael Schwarz, Head of Public Sector for Asia Pacific at Guy Carpenter, has claimed that the re/insurance industry will “jeopardize its relevance” if it does not make progress in closing the protection gap in the region. “Our industry should be a critical contributor to increasing community resilience against volatility and shocks ... Read the full article
Economic momentum will continue to underpin premium growth: Swiss Re
29th October 2018
Current economic momentum is likely to continue to underpin premium growth for re/insurers globally, while ongoing opportunities to close the protection gap will in turn support further economic growth, according to a recent report by the Swiss Re Institute. Swiss Re said that it expects insurance premiums in advanced markets to ... Read the full article
$160bn insurance gap in emerging nations is hardly closing, says Lloyd’s
22nd October 2018
The average insurance penetration rate in developed nations is twice as high as the average in emerging or lower income countries, accounting for $160 billion of the $163 billion global insurance protection gap. According to new research from Lloyd’s many of the countries with the lowest levels of insurance are among ... Read the full article
Named peril casualty cover is $90bn per year opportunity, says Praedicat CEO
17th October 2018
Robert Reville, Chief Executive Officer (CEO) of Praedicat, an InsurTech risk modelling and analytics firm, has claimed that developing named peril casualty cover is currently the biggest opportunity in re/insurance, representing a potential $90 billion annual growth opportunity. Praedicat analyses scientific literature to model more than 60,000 potential disease litigation scenarios, ... Read the full article
Global protection gap exposed by September’s nat cat losses: Aon
11th October 2018
The natural catastrophes that unfolded throughout September are expected to inflict tens of billions in economic losses and, according to a report by Aon, highlight the prevalence of global under-insurance. The report reveals that the U.S endured two tropical cyclone landfalls during the month - Tropical Storm Gordon and the costlier ... Read the full article
Microinsurance is key to closing the protection gap, says Clyde & Co.
4th October 2018
Microinsurance, also known as inclusive insurance, is the best tool at the industry’s disposal for closing the protection gap in developing countries, according to a report by global law firm Clyde & Co. A worldwide shift from low to middle incomes, technological developments and an increasing governmental landscape that recognises the ... Read the full article
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