OLDWICK, N.J.--(BUSINESS WIRE)--In this AMBestTV episode, attendees to the International Insurance Society's (IIS) Global Insurance Forum in Singapore said insurers coming together to create programs and products, along with technology, are helping to bring insurance coverage to developing and impoverished regions. Click on http://www.ambest.com/v.asp?v=iis3619 to view the entire program.
One of the hot topics at the conference is the growth and evolution of microinsurance.
“The technology that is up and coming, combined with the current enthusiasm toward learning more about how it implements solutions for the vulnerable, will create a really great future for the microinsurance space,” said Andrea Keenan, senior managing director—industry relations, AM Best.
John Huff, president and chief executive officer, Association of Bermuda Insurers and Reinsurers, addressed the business opportunity microinsurance presents.
“The insurance industry is really looking at microinsurance, particularly the synergy of using technology to close that protection gap and get more coverage out there,” he said.
Other people that appear in this episode:
- Shaun Tarbuck, chief executive, International Cooperative and Mutual Insurance Federation;
- Jan Kellett, special advisor, external engagement, United Nations Development Program;
- David Piesse, global head of insurance, Guardtime; and
Michael McCord, managing director: microinsurance centre, Milliman.
For full video coverage of the IIS conference, including exclusive executive interviews, visit http://www.ambest.tv/iis19.
Recent AMBestTV episodes:
- Closing the Protection Gap Takes More Than Insurance: Insurers gathered at the IIS Global Insurance Forum said new analytic tools and better risk reduction will help reduce losses to disasters, not just transfer more risk to insurers: http://www.ambest.com/v.asp?v=iis2619.
- Insurers' Biggest Risk Is Losing Touch With the Customer: Attendees to the IIS Global Insurance Forum said insurers are leveraging technology and analytics, but are competing with a wider range of service providers for the attention and trust of customers:http://www.ambest.com/v.asp?v=iis1619.
- Hong Kong's New Health Program Widens Insurers' Opportunities, Says Manulife CEO: Guy Mills, chief executive officer, Manulife (International) Ltd., said Hong Kong's new voluntary health insurance scheme provides tax incentives for residents to broaden their health coverage, easing pressure on government programs: http://www.ambest.com/v.asp?v=mills519.
- Rated Companies Should Prepare for Possible TRIPRA Shutdown, Says AM Best Senior Financial Analyst: Edward Zonenberg, senior financial analyst, AM Best, said uncertainty over the long-term fate of the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) should motivate insurers to address coverage needs in the event the U.S. Congress fails to renew the program by the end of 2020: http://www.ambest.com/v.asp?v=tripra519.
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