Wellington Management Company LLP
With Myanmar’s insurance market finally open to foreign competitors, the country represents an ideal case study on insurance reform and liberalisation to serve the growing needs of the dynamic economy and the role of insurance in today’s era of technology.
The insurance ecosystem is experiencing growth and innovation like never before. Last year alone, US$7 billion was invested in InsurTech which has risen beyond the hype to become a mainstay in the business making heads turn. Some US$75billion is expected to be invested in the next five years as every big investor eyes a slice of the $5trilion global gross premiums. The numbers are big.
With rising runaway healthcare costs exacerbated by tech-driven modern science and medicine, everyone is looking at insurers as the bearer of the last costs with deep pockets. Consumer demand for quality personalised care is growing, cognitive computing and precision medicine are evolving rapidly and big companies who are not in the health space are coming to the fore and accelerating their healthcare strategies.
Brokers have been playing a key role in the insurance value chain since time in memorial though at times unappreciated. In this digital era with InsurTech and the various modes of online distributions, brokers seems further challenged. Some have been talking of disintermediation for almost 30 years now.
Under the Patronage of H.E. Nasser bin Khamis Al Jashmi, Undersecretary of Ministry of Finance, Sultanate of Oman.
New York, New York – January 13, 2020
The International Insurance Society (IIS) announced today that Larry Zimpleman, former chairman, president and CEO of Principal Financial Group, will be inducted to the Insurance Hall of Fame in recognition of his lifetime contributions to the insurance industry.
Annual event with programming on a wide variety of topics of interest to the insurance industry.
This issue features:
• Highlights from PIC and SIRC
• IIS Story of the Quarter: Green Delta CEO receives “Woman Leader of the Year” award
• Summary of recent IIS activities in the region
• Member’s Experience: CEO interview
• New Member’s Category - Welcome Insurtechs into our Associate Members category
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