Life Insurance in Asia: Winning in the Next Decade - Hardcover

Binder, Stephan; Ngai, Joseph Luc

Hardcover

ISBN 10: 0470824409 ISBN 13: 9780470824405

Verlag: John Wiley & Sons Ltd, 2009

Inhaltsangabe

The Asian life insurance industry is truly entering an inflection point. Coming off massive growth from the past several years, the industry has suffered greatly, along with the rest of the financial industry, in the 2008 financial crisis. Most life insurers across Asia have lost tremendous value in the wake of the crisis; a few are in significant distress. It is important not to lose sight of the longer-term outlook though: fueled by macroeconomic factors such as the emergence of the middle class, high savings rates, and the growing need to save and invest for retirement, Asia's life insurance market is expected to grow at double the rate of the US and European market over the next decade. The time now is ripe for insurers to establish regional partnerships to access these markets. This authoritative book analyses the life insurance landscape in Asia, including traditional life insurance, bancassurance, etc. It comprehensively overviews the Asian insurance industry, based on extensive research provided by the authors on business opportunities and key success factors. This is an accessible yet authoritative guide to a key market opportunity.

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Über die Autorin bzw. den Autor

Dr. Stephan Binder is a director in McKinsey’s Shanghai office and leader of the Insurance Practice in Asia. He has been with McKinsey since 1995 and is an advisor to many of the region’s leading insurance companies and banks, with a long track record of successfully working with leading local companies and multinationals in Asia, Europe and North America. Stephan has made frequent publications and is a prominent speaker at conferences on financial services topics. A German national, he holds a Ph.D from the University of Münster and a Master of Business Administration and Economics from the University of Witten-Herdecke.

Joseph Luc Ngai is a partner in McKinsey’s Hong Kong office, and a leader in McKinsey’s Financial Institutions Practice in Asia. He has advised many leading domestic and multinational insurers and banks in Asia, leading large-scale turnarounds as well as acquisitions. He is a sought-after speaker on financial topics, and has appeared in many leading industry conferences as well as in the media. He is active in community projects and sits on the board of several non-profit organizations in Hong Kong. A Hong Kong native, he holds an AB from Harvard University, a JD from Harvard Law School, and an MBA from Harvard Business School.

Von der hinteren Coverseite

Unquestionably, this is one of the most comprehensive analyses of the Asian life insurance landscape I have ever read. Stephan and Joe have written an outstanding book, presenting deep insights and highlighting the challenges and opportunities in Asia. Life insurance in Asia will go through significant changes in the next decade and there are enormous opportunities but only for those who are well prepared.
Peter Ma, Chairman, Ping An Group

Practical, insightful and well-organized. Joe's and Stephan's book is a must-read for anyone who wants to understand the opportunities and challenges of life insurance in Asia in this age of turbulence and crisis. Their book is rich with deep and colorful examples across Asia. Highly recommended!
Eugene Wu, Chairman, Shin Kong Life

Asia continues to present and unprecedented growth opportunity in life insurance. Stephan Binder and Joe Ngai are giving a very comprehensive overview of the various Asian markets and describing the nature of the opportunity in very tangibles terms. This is a book written by real insiders a must read for everyone who is playing to win in the Asian Life insurance arena.
Oliver Bäte, COO, Allianz SE

Stephan Binder and Joseph Luc Ngai have a wealth of experience and understanding of the life insurance sector in Asia since they have worked with many of the leading players in the region and have had an opportunity to watch this sector in transition from very close quarters. Life Insurance in Asia gives you strategic perspectives as well as nuggets on what it takes to win in the fast evolving Asian insurance world.
Shikha Sharma, CEO, ICICI-Prudential

Economic development and demographic trends are making Asia a crucial region for the future growth of the life insurance industry. Life Insurance in Asia is a far-reaching overview of the industry in the region's different markets. Not only is it packed with revealing facts and figures, but it contains original and incisive analysis that make it a must-read for anyone interested in the evolving financial services scene in Asia.
Bernard Chan, President, Asia Financial Group and Asia Insurance Co. Ltd.

Aus dem Klappentext

The Asian life insurance industry is truly entering an infection point. Coming off massive growth from the past several years, the industry has suffered greatly, along with the rest of the financial industry, in the 2008 financial crisis. Most life insurers across Asia have lost tremendous value in the wake of the crisis; a few are in significant distress. It is important not to lose sight of the longer-term outlook though: fueled by fundamental economic growth, high savings rates and increasingly sophisticated customers, Asia s life insurance market is expected to grow at double the rate of the US and European markets over the next decade. Competition is heating up across the region. Small local agencies and multinationals are grabbing market share by aggressive recruiting of new agents, leveraging of new channels, and selling of new products. Markets such as China and India are rapidly approaching the size and scale which make them extremely relevant in the global life insurance landscape.

Given the attractiveness of the region, battle lines are being drawn between local incumbents, smaller agencies, and foreign players. The endgame is far from complete; winners will be determined over the next several years, but one thing is certain: the winners of tomorrow will be a different set of players than the leaders of the past. Successful firms will maximize the value creation opportunities in the region by winning the war for talent, keeping-up in product innovation, optimizing their distribution models, and avoiding significant risks.

Winning in Asian life insurance has never been more challenging. For participants in this high stakes game, the prize is the most attractive growth market in the world for the next decade.

Details zur Ausgabe

• Verlag: John Wiley & Sons Ltd
• Erscheinungsdatum: 2009
• Sprache: Englisch
• ISBN 10: 0470824409
• ISBN 13: 9780470824405
• Einband: Gebundene Ausgabe
• Anzahl der Seiten: 228
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Nicht verfügbar