Coverage of the Singapore International Reinsurance Conference
Milan Simic, executive vice president and managing director, international operations, AIR Worldwide, said Asia has already been home to a broad range of catastrophes.
Jayne Plunkett, Swiss Re's CEO for reinsurance in Asia, said understanding of business risk and the role of insurance varies among countries in Asia.
Franz Hahn, CEO, Peak Re, said Asia's largest market is making room for innovation, with early impact in coverage for professionals. Eventually, the technology will reach households.
Tobias Farny, Munich Re's chief executive Asia Pacific covering greater China, Australia and New Zealand, said the Chinese insurance market remains dominated by motor insurance, with the next stages of growth set for personal and commercial coverage.
Paul Burgess, vice president, RMS, said developing laws in Asia and elsewhere could hamper insurers' abilities to share and use data that could be used to improve models and predict risk.
