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With the Philippines being set to be the next in Asia to embrace RBC supervision while other markets are tinkering with or changing their RBC rules, Asia Insurance Review will host a Strategic Conference to help companies better understand the power of the RBC mantra and prepare for the new regime while learning from the experiences of those markets already using RBC.
The pace of regulatory change throughout the world is hectic. At every forum, regulatory changes are often cited by CEOs as one of the key challenges facing the industry. And regulators themselves are under pressure to keep up with the new IAIS ICPs. For companies, it is time to get real and be pro-active to build the tools and capabilities to cut through this period of increasing regulatory complexity and build a solid platform that supports the successful implementation of strategy into the future.
RBC is not one same meaning to all. Though many of the regulators in the region of Australia, Hong Kong, Indonesia, Japan, Korea, Malaysia, Singapore, Sri Lanka, Thailand and Taiwan have embraced RBC, the regime and requirements vary with each market.
This two-day Conference targeted at CEOs, CFOs and CROs of insurance companies as well as regulatory bodies will look at the drivers and lures of the RBC regime; how to embrace RBC painlessly, efficiently and effectively; the concepts and application of RBC for life and general insurers; as well as the categories of risks measured from credit risks, asset risks, underwriting risks, operating risks, balance sheet risks and off-balance sheet risks.
This Conference will arm delegates with the whole armoury tools and weapons to excel in your business operations by understanding and measuring the risks you assume and the capital you need to manage those risks.
To view the latest agenda, please visit:
The Motor Insurance market is rapidly changing on its very own axis. There are ambitious plans to roll out autonomous cars on the streets across the world, with pilot tests already on-going in the US & Singapore.
So what becomes of motor insurance, which is more than half the premium pie in most markets? Will driverless cars change the very basis of motor insurance? Who or what is underwritten in the motor? Will the pie shrink?
Aon has predicted that premiums for the US auto insurers may drop more than 40% once autonomous cars become the norm. Though the infrastructure varies from state to state across Asia, how governments and insurers in this region react and brace themselves for this disruption remains to be seen. Disruption is the norm and the motor insurance world as we know today must change.
Ride-hailing and ride-sharing are becoming more popular options for consumers. Usage-based insurance (UBI) is becoming more relevant as more drivers are needed to meet the increasing demand. Will there be more cars or less? Who must be insured?
Will the roads be safer as car manufacturers are implementing telematics as part of their public policy in promoting safe driving and to advise drivers on their driving behaviours? More importantly, in the event of an accident, can disputes be resolved with the support of data?
This year’s Conference will bring experts from across the industry to discuss the future of motor insurance, how it will evolve and the critical issues which need to be tackled to ensure that the industry is prepared for what is to come tomorrow and the perennial challenge of underwriting motor profitably.
To view the latest agenda, please visit:
The Philippine Insurers and Reinsurers (PIRA) Campus Tour series went recently to the De La Salle University (DLSU) Taft campus to teach management and finance students the importance of non-life insurance.
Dick Cabusao and Chris Marquez, both members of PIRA's Speakers Bureau, gave very interesting talks on the future of the non-life insurance industry and how students can make themselves attractive to employers once their graduate.
The two were joined by Cleto Obello of the Association of Insurance Claimsmen and Ted Torres, banking and finance editor of Philippine Star. Obello and Torres helped in answering questions from students about insurance.
The PIRA Campus Tour at DLSU was made possible with the help of the Management of Financial Institution Association (MaFIA).