Not another insurtech show you say? Yes, but there some good reasons why the Far Eastern markets are well worth a look. Here’s the word from the organisers of the Insurtech Connect (ITC) Asia show, scheduled for June 2020.
A look at the numbers also helps explain why Asia and the broader APAC region are so compelling:
- $3.8 Billion – The amount already Invested in Asia-Pacific insurtechs
- $1.69 Trillion – The combined net premiums for APAC
- 42% – The percentage of Global net premiums expected to be generated by APAC by 2029
- 6x – The number of Millennials in the region compared to the United States and Europe… combined
Analog and Digital Unite.
One factor that makes Asia so compelling is that unlike many other markets where it is either analog (agents) or digital (direct to consumer), Asia is and will be both for the foreseeable future. Offline distribution is only increasing, and online distribution is only increasing. The agent of the future is very much alive and well, and at the same time Asia has pioneered some of the most innovative online distribution models, e.g., when it comes to embedded insurance, no other market is even close.
Mark Your Calendars for ITC Asia 2020.
Upwards of 1,500 people will attend ITC Asia, 2 – 4 June 2020 at the Suntec Convention Centre in Singapore. For more information, visit InsureTech Connect Asia