From left, Malaysian Re President and Chief Executive Officer Zainudin Ishak, Department Head of Non-Bank Financial Industry Supervision Department 1A, Indonesia Financial Services Authority Dr. Ariastiadi Saleh Herutjakra, Secretary General of ASEAN Insurance Council Evelina F. Pietruschka and ASEAN Insurance Training and Research Institute Chief Executive Officer, Shalini Pavithran.

KUALA LUMPUR, Oct 1 (Bernama) -- ASEAN Insurance Pulse, an annual regional Thought Leadership publication of Malaysian Reinsurance Berhad (Malaysian Re) highlights the impact of digitisation on the region’s US$31 billion non-life insurance markets and their growth and profitability prospects.

This third edition was launched today at the 12th ASEAN Insurance Congress held in Bali, it said in a statement.

“Our consumers’ behaviour is increasingly shaped by digital technology. They expect immediate transactions, access to transparent information and instant gratifications. The increasing sophistication of their purchasing behaviour presents opportunities for insurers as product offerings can be efficiently customised and scaled up.

We believe that this year’s ASEAN Insurance Pulse will address this trend and stimulate productive dialogues among the key executives and stakeholders on how to promote digitalisation across the entire ASEAN insurance marketplace”, said President and Chief Executive Officer of Malaysian Re Zainudin Ishak in the statement.

He added that while digitisation would boost revenues and reduce costs, the region’s insurers needed to upgrade their legacy systems and improved their access to data to transition to the sophisticated technologies essential to sustain their long-term competitiveness.

Zainuddin was confident that the research publication would bring immense benefits to the insurance industry in the region because it provides ASEAN its insurance community with an important benchmark for strategic and operational decision-making.

ASEAN Insurance Pulse 2019 draws on in-depth structured interviews with senior executives of 43 national, regional and international insurance and reinsurance companies’ intermediaries and trade associations operating across the ASEAN region.

Department Head of Non-Bank Financial Industry Supervision Department 1A, Indonesia Financial Services Authority Dr. Ariastiadi Saleh Herutjakra launched the publication, witnessed by Zainuddin.

Also present at the ceremony were Secretary General of ASEAN Insurance Council Evelina F. Pietruschka and ASEAN Insurance Training and Research Institute Chief Executive Officer, Shalini Pavithran.

For more information on ASEAN Insurance Pulse, visit www.malaysian-re.com.my.

-- BERNAMA