This week in insurance: CEO moves in Malaysia, AI hits the core by 2026, HK underwriting feels new strain
From 1-5 December, APAC insurance saw decisive leadership changes, a measurable uptick in remote work interest, and fresh pressure on Hong Kong P&C results after another major loss event. The signal across operations is clear: prepare for leaner underwriting margins and an AI-first workflow by 2026.
Malaysia: leadership resets to sharpen execution
Allianz Malaysia Berhad appointed Giulio Slavich as CEO of Allianz Life Insurance Malaysia Berhad. Slavich previously served as Allianz Malaysia's CFO and held global leadership roles in Life & Health at Allianz SE, as well as leading the life segment in Italy.
Labuan IBFC Inc. named Ben Quah as CEO. He brings 20+ years across financial technology, digital marketing, and business development, with senior roles spanning financial institutions and technology firms in Malaysia, Mainland China, and Hong Kong.
Operations outlook: AI moves from pilots to production by 2026
Industry guidance points to AI becoming central to underwriting, claims, and policy administration by 2026. The push comes from climate risk, economic uncertainty, and shifting regulations, with efficiency and decision accuracy under the microscope.
- Prioritize data readiness: unify policy, claims, and exposure data; tighten data quality and lineage.
- Stand up model governance: define approval workflows, monitoring, documentation, and escalation paths.
- Start with high-ROI use cases: FNOL triage, subrogation detection, fraud flags, and pricing support.
- Pilot fast, scale what works: time-box proofs of value; integrate successful models into core systems.
- Upskill teams now: underwriting and claims analysts need prompt skills, QA for AI outputs, and workflow redesign.
If you're building a 2025-2026 skills plan for AI-driven operations, see practical course paths by role here: AI courses by job.
Workforce: remote demand is rising in Singapore
Remote work interest in Singapore's insurance sector rose 15.3% year over year. In October, 8.2% of job postings mentioned remote or work-from-home options, up from 7.7% a year earlier, according to Indeed Hiring Lab. Supply is still limited, but the direction is steady.
- Standardize hybrid policies and core hours to reduce friction across teams and time zones.
- Harden remote workflows: secure document exchange, audit trails, and PII safeguards.
- Broaden recruiting pools beyond CBD hubs; adjust comp bands for location flexibility.
Risk and capital: Hong Kong P&C faces added pressure
Claim losses from the Wang Fuk Court fire in Tai Po will pressure Hong Kong P&C underwriting results, per S&P Global Ratings. This follows a year of heavier claims after Super Typhoon Ragasa and severe black rainstorms. S&P expects weaker underwriting margins, though the impact remains manageable given capital positions.
- Stress-test 2024-2025 loss ratios with higher secondary peril frequency; update cat assumptions.
- Tighten supply chain and contractor panels to speed property repairs and control LAE.
- Review reinsurance structures (occurrence vs. aggregate) and reinstatement costs ahead of renewals.
- Check pricing adequacy on property lines; adjust deductibles and sub-limits where needed.
What operations leaders should do this week
- Set a 90-day AI roadmap: two use cases, data owners, governance sign-off, and clear success metrics.
- Run a claims surge drill for Hong Kong exposures: capacity, vendor SLAs, communications, and reserves.
- Publish a simple hybrid-work playbook for Singapore roles; align IT access, security, and performance metrics.
- Brief the board on 2026 AI adoption milestones and the capital impact from recent APAC cat activity.
The takeaway: stabilize today's loss pressure, and build tomorrow's operating model at the same time. Teams that do both will protect margins now and scale capacity without bloating cost later.
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