Globaleye was present at the recently concluded 2nd Asia Insurance Brokers’ Summit organized by the Asia Insurance Review in Singapore. This year’s conference, held from February 25th to 27th was themed “Growing Profitability in a Softening Market”, and was dedicated to exploring the growth opportunities for independent insurance brokers in the region.
The two-day conference was attended by a number of major independent insurance brokers, risk managers, and insurers from various countries of the world, with Globaleye’s General Manager, Jawaid Tabassum, providing key market updates and analyses for the insurance market in the UAE and Middle East.
The annual event has become a meaningful platform for the brokers in Asia to discuss critical issues facing them in the changing risk profile of the region. This year’s conference was attended by more than 200 delegates.
Speaking at the conference about the rapid growth of the independent broker channel, Mr. Rudi Spaan, Head of Broker & Client Management, AIG APAC, said, “Independent brokers should continue to cultivate unique propositions to maintain a competitive edge in the market and steer away from price competition.”
Commenting on the status of independent brokers in the Middle East and UAE, Mr. Jawaid Tabassum said, “The two main challenges facing UAE insurance brokers are the increasing regulations and the competition from the banks.”
View photos from the conference here