Abstract
This Financial Insights report discusses our annual analysis of strategic initiatives for Asia/Pacific' s insurance sector. The study incorporates perspectives from our primary research, together with knowledge acquired via interactions with insurers and technology vendors. It highlights the top 10 initiatives that will have key strategic importance to regional life and annuity (L&A) and property and casualty (P&C) insurance companies in 2008 and possibly beyond, and it explains why they should be on the radar of insurers in Asia.
"These initiatives fall into three areas - strategic planning, tactical and operational planning, and governance - encompassing the whats, whys, and hows of achieving these objectives," explains Li-May Chew, CFA, senior research manager for Financial Insights' Asia/Pacific Insurance Advisory Service.
"Priorities center round tailoring better customer experiences, taking on data integration and management projects to generate more value from the data repository, and carriers expanding their distribution network to include multichannel strategies. Insurers are also on a cost-control mode and eliminating IT portfolios and client delivery models that are overly complex, growing through acquisitive expansion and partnerships, and tackling fraud, among others."
Table of Contents
- Table of Contents
- Financial Insights Opinion
- In This Report
- Situation Overview
- Table: Asia/Pacific Insurance Premiums per Capita and YoY Growth by Country, 2006
- Future Outlook
- Table: Top 10 Initiatives for Asia/Pacific Insurance, 2008
- Top 10 Imperatives for Asian Insurers in 2008
- Figure: Top 10 Imperatives for Asian Insurers in 2008
- 1. Improving Customer Experiences
- 2. Distribution Channel Management
- Figure: Tools for an Effective Distribution Channel Management
- 3. Transforming Legacy Core Systems
- 4. Investing in Online Insurance Portals
- Figure: Growth of Online Automobile Insurance in South Korea, 2001-June 2007
- 5. Data Integration and Management
- Figure: Benefits from Information Life-Cycle Management
- 6. Growing Through Acquisitive Expansion and Partnerships
- Table: Selected Strategic Partnerships by Insurers in Asia, 2007
- 7. Cost Containment
- 8. Business Performance Transformation
- 9. Fraud Management
- Figure: Fraud Incidences Uncovered in South Korea, 2004-2006
- 10. Risk Management and Compliance
- Essential Guidance
- Actions for Insurance Companies
- Actions for Vendors
- Learn More
- Related Research
- Synopsis
