“Asia, of course, is a construct of many, many geographies. And each geography is very different…I see a real opportunity to leapfrog and not go through all the stages… Here in Asia, you can make markets, you can create markets.” – Bernhard Kotanko

In this second episode of the Asia InsurTech Podcast featuring Bernhard Kotanko, a Senior Partner at McKinsey & Company, we do a deep dive into the future of Property and Casualty (P&C) Insurance in Asia. Amidst a backdrop of rapid technological advancements and evolving societal needs, Bernhard explores the untapped potential within the region’s P&C insurance sector, examining the challenges and opportunities that lie ahead.

As emerging markets in Asia show significantly lower insurance penetration compared to their GDP growth, Bernhard sheds light on the need for innovative solutions to bridge this gap. From the rise of digital and embedded insurance to the integration of AI for better risk management, this episode navigates the complex landscape of insurance in Asia, discussing how technology continues to reshape the industry.

Bernhard addresses distribution, insurance literacy, and the impact of new risks like cyber threats and climate change on the sector. This conversation balances the technical with the transformative and explores how the P&C Insurance market in Asia is poised for a leap into the future, driven by innovation and a deeper understanding of customer needs. 

McKinsey & Company’s “Global Insurance Report: The Future of Asia P&C Insurance” can be downloaded here.

The post EP 226 – Bernhard Kotanko – McKinsey & Company – Overcoming Obstacles and Seizing Value in Asia’s P&C Insurance Market appeared first on Asia InsurTech Podcast.