IXT Resource Library

According to a recent report by McKinsey, the P&C insurance landscape in Asia stands at a critical juncture, marked by a slowdown in growth and mounting profitability challenges. However, within this scenario, emerging opportunities from evolving risks, technological advancements like AI, and relatively low insurance penetration rates are evident. Embracing a Dual-Track Strategy: Balancing Innovation and Optimization Insurers eyeing the 2024 landscape must adopt a dual-track approach. This involves exploring new prospects such as electric vehicles and climate risks while simultaneously optimizing core operations. Notably, statistics reveal that EV repairs in Asia take 14% longer and are 25% more expensive than traditional internal combustion engine (ICE) repairs. This emphasizes the need for innovative approaches to address emerging vehicle technologies. Digital Transformation Through Embedded Insurance: A Key Driver of Future Growth Accelerating digital distribution stands as a pivotal strategy. Insurers aim to secure 10% of premiums from embedded insurance by 2030. Moreover, 90% of the embedded insurance will be through key ecosystems. (See Exhibit 1) This shift towards digital platforms marks a strategic move to meet evolving consumer preferences and technological advancements. Exhibit 1 Source: Mckinsey & Company Collaborative Ecosystems: The Path to Agile Operations Partnering across ecosystems and transforming operating models are critical imperatives. Asian insurers need to move at the swift pace set by tech companies to remain competitive. Notably, Asia has encountered 31% of global cyber attacks, emphasizing the need for comprehensive products and robust ecosystem partnerships to combat escalating cyber risks. Read more: OneDegree Global and Microsoft...

Insights reveal how digitalization is reshaping insurance for efficiency, risk management, and innovation.

Key takeaways from Insurtech Insights Europe 2023, including ecosystem, embedded insurance, and more.

A complement to traditional insurance, parametric insurance can offer several advantages for both the insurer and the insured.

How does the insurance industry tackle the chronic talent shortage?

Hear from insurance leaders about the risks, opportunities and ways to stay competitive in the post-pandemic time.

How well do you understand your customer and the type of experience they are looking for? What steps can you take to move forward?

The future of finance is expected to improve over time, as the current financial system and the DeFi system converge.

Braving a new world of fluctuating market conditions and striving to meet the expectations of inflation-weary customers.

e27 spoke to four talented IXT female leaders as they share their experience in Tech and what the Asia market holds for the company.

Technology alone cannot solve the financial inclusion problem. So, what else should insurers focus on?

Explore the tips that could help insurers advance their ESG agenda.

In today’s customer journey, the value and role of insurance brokers are eroding. How do they futureproof themselves under threat?

When it comes to innovation and evolving technology, investing in one technology alone will not do the trick. What should insurers do instead?

Digital disruption has brought innovative ideas to the forefront of the industry. Many insurers have embarked on the insurtech movement.

Our first release of the IXT newsletter with latest industry updates.

The importance of ecosystems in driving new business models in the insurance industry and helping innovate insurance products.

How consumers perception towards insurance has changed, and how insurers can improve customer experience post COVID.

OneDegree Group co-founder Alex Leung predicted that an insurtech boom is soon coming to Taiwan.

Industry experts discussed the changing mindsets in the insurance industry and the lessons that incumbents can learn from start-ups.

A continuation of the IXT Innovation Webinar Recap that discusses how insurers can accelerate product and business innovations with InsurTech.

Accelerate new business growth, drive efficiency, and maximize ROI in product innovation and system modernization.

Cyber security exposures of more than 30 insurance companies in Taiwan.

The whitepaper offers recommendations to how insurers may prepare for and respond to the future of the insurance industry.

IXT and Deloitte published a report that explores the emerging consumer trends shaping the insurance industry in Hong Kong.

OneDegree Global has partnered with The Method on an insurance consumer insights survey for Thailand.