OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, insurers at the Asia CEO Insurance Summit in Singapore said the ongoing developments of technology-based innovators are opening up new pathways to customers and raising the bar for customer service and interaction. Click on http://www.ambest.com/v.asp?v=asiaceo1217nc to view the entire program.
Technology, disruption and innovation are the challenges looming over the ever-changing insurance landscape in Asia.
“There are tremendous opportunities for this industry on a number of fronts,” said Stephen O'Hearn, global leader for insurance, PwC. “The first and foremost being connectivity with the customer.”
Abhisek Bhatia, chief executive officer, FWD Singapore, sees advantages and disadvantages for market players, but notes, “the system will improve.”
However, Robert Burr, head of life & health, Asia, Swiss Reinsurance Company Ltd, believes the industry needs to acknowledge and concentrate more on the unintended consequences technology brings with it.
“From the threat side, I believe it is important to understand some of the unintended consequences that can arise around data privacy and around the importance of understanding what a company can and cannot do with an individual’s data,” said Burr. “There has to be an ownership in the industry to act responsibly with what is done with this technology.”
Other people that appear in this episode:
Recent episodes of A.M.BestTV include:
- Ankur Agrawal, head of data innovation lab, Asia, AXA;
- Ian Brimecome, senior managing executive officer and executive chairman, Tokio Marine Holdings, Inc;
- Michael Gourlay, director and chief executive officer, MSIG Singapore; and
- Dave Matcham, chief executive, International Underwriting Association.
For full coverage of the summit, including exclusive executive interviews, visit www.ambest.tv/ceo17.
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