Asia/Pacific Insurance 2008 Top 10 Strategic Initiatives

This Financial Insights report discusses our annual analysis of strategic initiatives for Asia/Pacific's insurance sector. The study incorporates perspectives from our primary research, together with knowledge acquired via interactions with insurers and technology vendors. It highlights the top 10 initiatives that will have key strategic importance to regional life and annuity (L&A) and property and casualty (P&C) insurance companies in 2008 and possibly beyond, and it explains why they should be on the radar of insurers in Asia.

"These initiatives fall into three areas ? strategic planning, tactical and operational planning, and governance ? encompassing the whats, whys, and hows of achieving these objectives,"explains Li-May Chew, CFA, senior research manager for Financial Insights' Asia/Pacific Insurance Advisory Service.

"Priorities center round tailoring better customer experiences, taking on data integration and management projects to generate more value from the data repository, and carriers expanding their distribution network to include multichannel strategies. Insurers are also on a cost-control mode and eliminating IT portfolios and client delivery models that are overly complex, growing through acquisitive expansion and partnerships, and tackling fraud, among others."