Question

How direct insurers in Asia normally sell their insurance product?

Answer 1

In the developing markets in Asia, there is rapidly expanding middle class and there is great demand for insurance products.

The impact of deregulation in the countries like China and India has caused new openings for multinational insurers. The insurance companies will develop a formula for selling their products, by concentrating into the markets that align with the company’s core strengths.

Few companies in the insurance market focused on the digital distribution, ecosystems and the customer experience to win the market. They developed new products and engaged the customers in new ways. Keeping eyes on the rapidly changing market dynamics also helped the companies to sell the products