Technology creating competition for Asian reinsurers
Friday, 08 03 2018, Category: Technology, Country: Asia
Reinsurers in Asia have recently embraced technology to improve their services to insurance clients and end-customers, says Fitch Ratings. The faster processing of reinsurance transactions means an improved service for insurance clients who are able to speed up processes for their policyholders.
These increasingly sophisticated tools allow for automated data analysis and claims assessment and will create a new area of competition for Asian reinsurers, as companies in the region try to differentiate themselves in an industry that has traditionally competed on price, Fitch says.