• Distribution network: Insurance remains a push product requiring human intervention, making agents and experienced business associates vital for advising customers, preventing mis-selling, and providing ground support.
• Motor insurance sustainability: Motor accounts for 30% of business but is under pressure from intense own-damage competition and stagnant third-party premiums; the company is calling for commission caps and an immediate increase in third-party rates.
• Health claims rationalization: High premiums are driven by non-standardized hospital billing and unnecessary investigations rather than just fraud, requiring standardized treatment rates and specialized fraud tools to lower customer costs.
• Climate risk protection: Parametric and natural catastrophe insurance provide affordable coverage with immediate, documentation-free claim settlements to manage unpredictable environmental risks alongside government support.
• Technology and operations: Artificial intelligence and robotic process automation are being deployed across fraud management, marketing, and customer service, while all employee wage revision liabilities have already been fully absorbed.