Joanne Madrid is a reporter at (Re)in Asia, known for data features and analysis on how technology and climate are reshaping the region's insurance markets. Areas of specialty include insurtech and AI adoption, cyber and climate risk, and the premium and results data moving markets including India, Korea and Hong Kong.
More than 80% of insurers have already met OJK's 2026 requirements, but experts say capital alone will not fix weak fundamentals as tougher 2028 rules loom.
Health, motor and personal accident insurance powered the industry's fastest YoY growth of 2026, while fire premiums continued to decline for a sixth straight month.
Executives at ITC Asia said insurers should make data collection a visible value exchange while simplifying disclosure, reducing friction and improving customer experience.
AI’s payback period may be longer than expected, as costs, timelines and benefits remain difficult to separate and quantify, industry experts said at ITC Asia.
Insurers will need to adopt AI, geospatial tools and specialist partnerships as conventional underwriting models struggle to keep pace with fast-evolving risks, says Japan's NTT Data.
