UBS: Insurtech Will Transform the Insurance Industry in Asia
The inevitable disruption by insurtech may be more profound in emerging Asia than in the rest of the world.
Asia is one of the most underpenetrated insurance markets in the world. In 2016 emerging Asia held 43 percent of the world’s population but only 13 percent of total premiums.
Traditional distribution models are costly and inefficient in emerging Asia due to its large populations and its extreme geographic contrasts.