Alternative insurance distribution models in Asia PacificMore than one approach |
Insurance companies are making unprecedented entry into the capital markets, and to be competitive insurers will need to revisit their business models to ensure they have the necessary products. It will be critical for insurers to enhance their client interface to help accelerate growth. One of the key levers to growth is distribution, and to excel at it, insurers will need to adopt a new mindset that sees distribution not as a cost center, but as a profit center and lynchpin of success.
This report examines emerging insurance distribution channels in the Asia Pacific region and highlights that a “one size fits all” model is not the best approach. With economic growth and creation of wealth in Asia continuing to outpace other regions, insurers need to be well positioned with multi-channel strategies and products to capitalize on these opportunities. Adapting distribution channels to the unique characteristics of Asia Pacific demographics, culture, and regulatory systems, and having a multi-pronged approach are likely to be successful strategies.
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