Asia’s unprecedented wave of wealth creation and transfer is reshaping the future of the global insurance industry. In this episode of Reinventing Insurance, Edward Moncreiffe, CEO Insurance at HSBC Group, joins our host Paul Ricard to explore emerging market opportunities and the biggest macroeconomic trends redefining the region’s sector.

Based in Hong Kong, Edward draws on nearly two decades of experience working across multiple continents. He articulates a clear vision of the insurance industry’s future in Asia, marked by significant demographic shifts, a rich cultural landscape, and the imperative for digital transformation.

Edward’s insights provide valuable guidance for insurance and financial services leaders to navigate market complexities while remaining focused on customer needs and sustainable growth. He sheds light on the convergence of wealth management and insurance solutions and where this is leading to more comprehensive insurance, investment, and health insurance offerings, as well as fueling deeper engagement with customers.

In this episode, Edward and Paul also share perspectives on:

• Leveraging generative artificial intelligence (AI) and digital transformation for customer engagement and service models.
• Significant wealth transfer opportunities for insurers to serve legacy planning needs and the changing demographic shifts as older generations retire.
• Sustainable growth opportunities for insurance carriers by reshaping their technology, distribution strategies, and strengthening relationships with distribution partners.
• The lasting resilience and balance of face-to-face distribution alongside digital
• Building a strong organizational culture focused on talent development and employee empowerment which leads to improved performance and innovation.
• Vibrant and emerging opportunities in Hong Kong as it becomes a major global insurance powerhouse amid geopolitical and economic shifts.

In this episode of Reinventing Insurance, Ben Simpfendorfer from the Oliver Wyman Forum joins our host, Paul Ricard, to discuss Asia’s role in a rebalancing world and the megatrends that are shaping the future of insurance. Based in Hong Kong, Ben brings over 25 years of experience working in Asia and the Middle East, and has extensive knowledge of

the local markets. He is a regular commentator on Bloomberg and CNBC and a key opinion leader on LinkedIn with over 440,000 followers.

As the world continues to evolve in this uncertain economic and geopolitical environment, insurers must be proactive in adapting to supply chain impacts, demographic shifts, and the

need for technological advancements. Remaining agile and embracing innovation is crucial for capturing new markets and addressing the diverse needs of consumers across Asia.

In this episode, Paul and Ben share their perspectives on:

• The collision of mega trends, supply chain shifts, and emerging markets for insurers in Asia.
• The Gen Z factor, demographic change, longevity, and the aging population offer insurance opportunities for new product and service offerings.
• The increase in mergers and acquisitions, and partnerships within the insurance industry.
• Climate change, the green energy transition, and the need for adaptation and resilience.
• Moving towards a transformation-led approach to generative artificial intelligence (AI).

In this special edition of Reinventing Insurance, Oliver Wyman Partner and Global Head of Insurance, Asset Management, Actuarial, Mick Moloney and Oliver Wyman Partner and Leader of CustomerFirst, Americas, Rick Chavez, continue their conversation on taking a customer-led approach to industry reinvention and the path forward for insurers.

Rick shares insights from his collaborations with Geoffrey Moore on the four-zone organizational playbook and from his experience working at Microsoft, where he advised senior executives on growth initiatives at the intersection of cloud computing, analytics, and business model innovation.

Mick and Rick share growth opportunities for insurers, covering the macro-economic outlook, industry success stories, strategies for deepening customer relationships, and the path forward to accelerate growth. With more than 25 years of experience in digital transformation, Rick has led digital revolution and growth initiatives for companies such as Adobe, Microsoft, American Express, D&B, Fox Home Entertainment, Kinko’s (now part of FedEx), University of Michigan, Yahoo!, and Walmart. His Customer, Innovation and Growth team brings together world-class business strategists, advisors, technologists, designers, data specialists, and software wizards to make digital transformation sustainable throughout the organization.

In this episode, Mick and Rick explore:

• Mega trends, customer-led strategies, and business reinvention for growth
• Microsoft’s transformation into a multi-trillion-dollar leader in the tech sector
• Applying the four-zone methodology to ‘fund the future ,’ transform, and scale new growth
• Building supply chain resilience and integrating risk management, using examples from Marsh McLennan’s Sentrisk offering
• Driving innovation through customer-led transformation and elevating the next generation of capabilities
• Preparing the workforce for generative AI readiness and developing future talent
• Key themes and insurance opportunities from our publication “Growth, Relevance, Resilience For Insurers”

This episode is part of our Reinventing Insurance series, a series that explores best practices for taking a CustomerFirst approach to innovation within Insurance. Throughout this series, host Paul Ricard discusses lessons, challenges, and new ways of working with guests who will share their first-hand experiences.