Health Insurance Deductible Self Employed
We believe it is unlikely that the current high levels of profitability in Asia's life insurance business, relative to the more developed Western markets, will be sustainable in the long run. Competition is already eating away at profit margins and will continue to do so. This has been most visible in bancassurance, where the banks have squeezed the margins of the Life insurers. On the other hand, in the agent channel and in more traditional life insurance, many of the features of life insurance products continue to be opaque to customers, so the compression of margins will most likely be a much slower process. While the margins of Asian life insurers will gradually decrease in the long term, in the context of global Life insurance, this region will still be significantly superior in terms of profitability in the years to come.
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Insurance Agency Acquisition - Organic Growth Or Acquisitions
Insurance Agency Acquisition
We are often asked whether an organic expansion or an acquisition is the best entry model in Asia - and obviously there is no single answer. First, it depends on the market. In general, acquisitions are the preferred option in the more mature markets where organic expansion is very difficult for latecomers and will take a long time. In the high-growth markets on the other hand, such as China and India, and also Vietnam, organic growth is a more likely vehicle for success.
We are often asked whether an organic expansion or an acquisition is the best entry model in Asia - and obviously there is no single answer. First, it depends on the market. In general, acquisitions are the preferred option in the more mature markets where organic expansion is very difficult for latecomers and will take a long time. In the high-growth markets on the other hand, such as China and India, and also Vietnam, organic growth is a more likely vehicle for success.
Management Roles In Business - Strengthening the Management Bench
Management Roles In Business
The insurance industry has under-invested in management talent for decades. This contrasts sharply with the banking business. Until very recently, no insurance company would have shown up on a list of preferred employers at top business schools. Furthermore, compensation was generally less attractive than in other parts of the financial services industry. This is driven partially by the retail nature of the business with a strong focus on mass operations - but it has clearly become an issue for the industry at large, and Asia is no exception. The most aggressive players have already begun to change - globally and in Asia - and have identified talent as a key success factor for further growth and value creation.
The insurance industry has under-invested in management talent for decades. This contrasts sharply with the banking business. Until very recently, no insurance company would have shown up on a list of preferred employers at top business schools. Furthermore, compensation was generally less attractive than in other parts of the financial services industry. This is driven partially by the retail nature of the business with a strong focus on mass operations - but it has clearly become an issue for the industry at large, and Asia is no exception. The most aggressive players have already begun to change - globally and in Asia - and have identified talent as a key success factor for further growth and value creation.
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