Asia Pacific is emerging as the fastest-growing region for insurance companies in this coming decade. However, COVID-19, a once-in-a-century pandemic, will have a lasting impact on every business and every human being. It is now the biggest catalyst for digital transformation. Technology can help address the three biggest challenges of reach, risk of fraud and affordability that has limited growth and penetration of Insurance companies in this region.
Consumers are no longer waiting to be sold insurance, rather they are proactively seeking one out. Per capita consumption of insurance is growing rapidly as insurers seamlessly embed products into the consumer lifestyle. They need to embrace agility and provide the highest level of customer experience through omnichannel communications to meet evolving customer demands and needs.
In this report, we take a closer look at:
