The Asia Pacific (APAC) is clearly far from homogenous, and its physical and economic variety makes any generic statement about its insurance markets challenging to make. This report aims to aid the understanding of the current headwinds and tailwinds shaping APAC insurance markets.
The primary challenge for the region remains a lack of insurance coverage, whilst several developing markets have seen tremendous growth post-pandemic. In this way, the problems of APAC's protection gap highlight the region's potential; APAC currently accounts for 25% of the global insurance sector, and it may well serve as the insurance industry’s growth engine.
Readers of this report can expect to learn more about:
- The impact of the pandemic and associated economic challenges
- The increasing frequency of catastrophic events across APAC, as well as its range of climatic and tectonic disasters
- Changing customer behavior shaped by shifting demographics and technological development
