Jason Hammond, chief executive of QBE Asia, discusses the low take-up of cyber insurance and how his firm aims to take the pain out of the overall claims experience for clients.
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Insurers tighten cyber cover terms, raise premiums amid cyber attacks
Firms with inadequate risk management protocols may find their cover reduces or withdrawn altogether, particularly in terms of ransomware risk. QBE Asia, Head of Financial, Professional and Casualty lines, Arati Varma, said around 40 per cent of large organisations are believed to buy cyber protection. But take-up among small and medium enterprises (SMEs) is far lower.
Learning to live with a pandemic
Singapore’s general insurance sector has remained stable over the last year, despite the pandemic’s impact. Asia Insurance Review spoke with Ronak Shah, CEO, QBE Insurance Singapore, on learning how to live with a pandemic as COVID-19 has created a varied effect on businesses.
QBE Singapore CEO Ronak Shah looks back at challenging year
Insurance Business spoke with Ronak Shah, CEO of QBE Insurance Singapore, on how the general insurer weathered the challenges of 2020 and what he expects for 2021.
QBE Asia builds digital footprint with new insurance initiatives
Today’s “no-contact” pandemic has challenged businesses to find ways to continue operating and supporting customers, without the need for physical interaction. This has created an urgency for businesses and industries—many of which have operated unchanged for decades—to digitalise their operations quickly and effectively to ensure business continuity.
Importance of SME Insurance in Singapore in the post-COVID world
Head of SME/Consumer & eBusiness (Underwriting), Goh Shun Quan shared in a recent Entrepreneur's Digest article on the importance of SME Insurance in Singapore in the post-COVID world. COVID-19 pandemic has created unique business and social challenges. Businesses have had to find ways to survive the worst economic impacts in the immediate term, but also create the resilience to thrive in a post-pandemic economy. A critical tool in enabling this has been digitalisation, with small and medium-sized enterprises (SMEs) quickly turning to technology and digital services to find new ways to reach and sell to customers and clients.
This article was first published in Entrepreneurs' Digest issue 94
An emphasis on digital
QBE has had a good year, despite COVID-19 hitting the business hard. Asia CEO, Jason Hammond shares with Asia Insurance Review about QBE’s plans for the post-COVID environment with an emphasis on digitalisation.
Rama Chandran, Head of Marine Singapore and Head of Hull & Marine Liability Asia, named Top 10 in Lloyd's List for Marine Insurance
Asia is catching up fast in hull insurance and leading the way in its emergence is Rama Chandran, head of marine at QBE.
Asia CEO, Jason Hammond, named in The Insurance Business Global 100 list for the second consecutive year
Asia CEO, Jason Hammond, who has been named in The Insurance Business Global 100 list for the second consecutive year. The list features outstanding industry professionals and leaders who are making a positive difference and helping drive change across the sector and their own companies.
QBE Singapore secures award for excellent digital capability
QBE Singapore has picked up the Digital Capability Award at the annual Australian Chamber of Commerce Singapore (AustCham) business awards for 2020. The event, which was held virtually, aims to celebrate the achievements of businesses and individuals leading in their field.
Pandemic a ‘catalyst’ for innovation – QBE Singapore CEO
The COVID-19 pandemic has caused huge changes in how life is lived, and businesses have been forced to adapt in order to ensure survival. Necessity is the mother of invention, as the adage goes. According to Ronak Shah, CEO of QBE Singapore, the pandemic has accelerated the insurance industry’s direction towards further digitalisation.
QBE Singapore wins the inaugural Digital Capability Award 2020
Both of QBE Singapore’s digital initiatives – e-Despatch and e-Claims have clinched the Digital Capability Award from AustCham Business Awards 2020. “In an ever-changing business landscape, businesses have to continuously innovate and evolve to meet the needs of their customers and their operating environments. At QBE Singapore, we have asked ourselves what will our staff, partners and customers need the most in their insurance journey and we have devised these two digital initiatives which are in line with our drive towards digital transformation,” said Ronak Shah, Chief Executive Officer for QBE Singapore.
Securities Class Action Risk in South East Asia’ co-authored by QBE Asia, Head of Financial, Professional and Casualty Lines, Arati Varma
South East Asia is a very diverse group of countries – from its language and customary practices, legal frameworks to its regulatory oversight. This article gives a high-level review of some of the common issues affecting securities collective actions across the region. In summary, South-East Asia remains a low-risk region for securities class actions for the reasons outlined. However, directors and their insurers should not be complacent and ignore the risk of exposure to US class actions.
QBE’s Hammond on transformation and growth
CEO Asia, Jason Hammond, recently spoke with Insurance Asia News and shared about the restructuring process and transformation, and his outlook on the Asian markets’ growth opportunities, broker consolidation and the rise of digital and insurtech in the post-Covid environment.
IMO 2020 - 100 days amidst the Pandemic
Head of Marine for Singapore and Head of Hull & Marine Liability for Asia, Rama Chandran shared an update in the June issue of IUMI's (International Union of Marine Insurance) newsletter on the implementation status of IMO 2020 since coming into effect. As the IUMI Ocean Hull Committee Chair, Rama and his committee will continue to monitor the impact of low sulphur fuels on engine and machinery claims in the near future.
COVID-19 insights from insurance and risk leaders in Asia Pacific: "Cohesion & Positivity" by QBE Asia CEO, Jason Hammond
CEO Asia, Jason Hammond shared his insights on ensuring business continuity and being there for customers, partners, employees and the community during these challenging times.
March 11, 2020
A growing number of small and medium sized enterprises (SMEs) are seeing the relevance of the impacts of climate change on their businesses, according to the fifth edition of QBE Insurance's annual survey of Singapore SMEs.
Even as SMEs in Singapore seek to broaden their businesses in an increasingly digital and data-driven economy, many remain unprepared to handle common business risks associated with the use of technology, according to the fifth edition of QBE Insurance's annual survey of Singapore SMEs.