Insurance Innovation in Asia: 50 Shades and Beginning of a Love Story with Insurtech

An insightful post with a tongue-in-cheek title that analyses various models of innovation (50 shades) that exist in the universe of insurance and proposes a tailored combined model to achieve the highest effectiveness through a collaboration with insurtech startups.

It concludes that: "Love Is In The Air. Welcome To The Era Of Co-Innovation With Startups. Corporate innovation is a critical element of re-shaping the insurance industry to maintain its competitiveness. An effective hands-on collaboration with startups is the critical underlying theme of the innovation and a combination of innovation models is the best way to go to get us there."

Source: https://www.linkedin.com/pulse/50-shades-corporate-innovation-beginning-love-affair-george-kesselman

Loving the disruption? The five biggest opportunities and challenges for insurance in APAC

Roland Eckl, Chief Executive Munich Re Asia Pacific shared a blog post that highlights his thoughts on the topic of insurance and the changes that it will need to endure in the coming years to stay relevant:

• Create a better  customer experience: Come closer to the (end) customers and understand their needs, their fears and their emotions. What values – both tangible and non-tangible - do they want to protect? What are their anxieties? Insurers’ need to be at the digital edge to approach and interact with the customer while still be able to inspire trust and security.
• Generate earlier, faster and more interactive touchpoints with customers and subsequently entering the value chain at an earlier stage.
• Extend the boundaries of insurability based on a better understanding of specific risks due to big data and customer demand. Cover new risks which arise with digitalization, like cyber threats, reputational risks (loss of identities, confidential information and/or personal data).
• Create and re-develop new forms of insurance, for example on an on demand basis (coverage for short periods e.g. during travels or while using shared-economy items, like IPads, smartphones, Car-to-go, Drive Now etc.).
• Make insurance easy understandable and transparent!

Read full post on: https://www.linkedin.com/pulse/loving-disruption-five-biggest-opportunities-challenges-roland-eckl

A community for Insurtech in Asia

This month we saw a launch of a preview for Insurtech Asia Website and Social media presence. Its states its purpose as a community that aims to bring together insurance innovators, industry practitioners and stakeholders, was launched earlier this month. It features articles, events and a forum.

How Can They Help?

Insurtech Asia believes in the power of community effort. Hence they are connecting the best, the most passionate and the brightest to be part of Insurtech Asia through regular discussions, meetups, events and workshops.

Insurtech Asia’s network gives visibility and access to a diverse crowd of investors, mentors and partners. This translates into exceptional opportunities for individuals, corporates and startups.

They provide support and consultancy to both investors and startups using the  frameworks tailored to each. Insurtech Asia is vested in the success of our community, as they believe success propagate success.

www.insurtechasia.com
Twitter: @insurtechasia