Bain & Company’s Naujoks on Insurtech in Asia, Regulations

The video discusses the attractiveness of the Asia Pacific insurance markets, driven by economic development, wealth accumulation, and longevity trends. It highlights changing consumer behaviors and the rise of fintech and insurtech, emphasizing strategic partnerships and the role of tech companies. Regulatory concerns are addressed, with a focus on Singapore and Hong Kong as key insurtech hubs.

What are the key drivers making the Asia Pacific insurance markets attractive?

• High unemployment rates

• Lack of technological advancement

• Economic development and wealth accumulation

• Decreasing population

What is a significant trend in consumer behavior in the Asia Pacific region regarding insurance?

• Consumers prefer buying insurance from traditional insurers

• Consumers only trust local insurers

• Consumers are unwilling to buy insurance

• Consumers are open to buying insurance from non-traditional sources

What is a new trend in insurtech investments?

• Decreased interest from strategic partners

• 40% of investments coming from strategic partners

• No involvement from reinsurers

• Increased investment from venture capital firms

Why do some insurtech companies avoid becoming carriers?

• To increase their market share

• To reduce operational costs

• To avoid competition with traditional insurers

• To focus on customer interface and avoid regulatory issues

Which two regions are key hubs for insurtech development in Asia Pacific?

• Beijing and Shanghai

• Bangkok and Kuala Lumpur

• Tokyo and Seoul

• Singapore and Hong Kong