Asia Market Review 2018

The pace of technological change and innovation in client sectors continues to be a challenge for the insurance market. What we have witnessed in 2017 will continue in 2018; underwriters grappling with the insurability of new technology such as more efficient power generation equipment, autonomous vehicles, and robotic production processes which have little or no loss records but are being widely adopted.

As we look forward into 2018, Asia will remain the most attractive region to foreign investors, as it ticks a number of boxes compared to Europe, Africa, North America, and the U.K. This presents a number of exciting opportunities and challenges for our clients and future clients, as businesses, countries, and regions modernise, and processes and legislation evolve and continue to become increasingly interconnected.

Medical inflation globally and in Asia continues to rise at a rate well above that of consumer price inflation. As medical costs increase, and in some markets these costs are passed on to buyers through higher premiums, businesses are faced with the need to develop more sophisticated strategies to contain the medical expenses. Amongst this backdrop, the role of data and analytics is becoming increasingly important in understanding and controlling corporate health and benefits expenditure.