Aviva CEO Says Asia Is Far More Price Competitive Than Mature Markets

The video discusses the competitive pricing landscape in Asia compared to mature markets, driven by digital advancements and automation. It highlights the role of AI and big data in reducing costs and increasing margins. The importance of data scientists in building algorithms is emphasized, along with the future of insurance through composite insurers. The video also touches on the potential for simplifying and bundling insurance policies.

What factors contribute to the price competitiveness of insurance in Asia compared to mature markets?

How does the use of big data and AI impact the pricing of insurance products?

What is the significance of having a large number of data scientists in the insurance industry?

In what ways can combining different insurance policies benefit consumers?

What changes in the insurance market are anticipated for the next decade?