We were excited to participate in Insurtech Insights Asia 2024 in Hong Kong on December 4–5, where industry leaders gathered to explore the intersection of insurance and technology.
Bain & Company's partners led insightful discussions, offering actionable perspectives on the challenges and opportunities shaping the future of insurance.
Senior Partner,
The head of Asia-Pacific
Financial Services practice
Bain & Company
Panel Discussion:
Leadership Agility: Navigating Change in Asian Insurance Markets
Henrik moderated a session on driving adaptability in dynamic markets. Key takeaways:
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In order to navigate the changes in today's highly dynamic environment, transformation must be treated as a continuous process; the old mantra of "unfreeze, change, freeze" is no longer possible.
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Organizations must build a culture that embraces change; they need to develop the necessary capabilities, empower their employees, and enable them through technology.
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Effective leadership teams are characterized by trust, strong collaboration, resilience, tech affinity, and optimism.
Panel Discussion:
Customer Centricity: How Tech and Data Change the Art of the Possible?
Henrik led discussions on how data and AI are transforming customer engagement in insurance:
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The fundamentals of customer centricity remain constant, but advancements in technology are unlocking new possibilities, such as hyper-personalized experiences and always-on customer insights.
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The role of insurance must evolve, with insurers shifting to become solution providers focused on proactive risk mitigation and prevention.
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Building ecosystem partnerships is increasingly critical, as collaboration is essential for success.
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Many insurers are "data-rich but insights-poor"; enhancing analytics capabilities and leveraging AI/GenAI is imperative.
Herbert Lee
Partner
Bain & Company
Panel Discussion:
Future of Telehealth: Application, Regulation, and Enablers
Herbert led a discussion on telehealth's evolving role in insurance. Key highlights:
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Care is becoming omnichannel, with telehealth playing a critical role and demonstrating significant potential even in the post-pandemic era.
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Telehealth providers must prioritize compliance, deliver high-quality care, and enhance customer experience by leveraging technologies such as AI and fostering strong collaboration with ecosystem partners.
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New models are evolving, such as teleconsultation services tailored for customers traveling abroad, allowing them to connect with doctors from their home country. Telehealth providers should remain customer-centric and continue to innovate.
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Insurers are increasingly partnering with telehealth providers to strengthen their value propositions and effectively manage primary care costs.
Georgina de Rocquigny
Expert Partner
Bain & Company
Panel Discussion:
Trust in an Automated World - How Brand and Marketing Unlock Growth in Insurance?
