Cost, efficiency, product & unbundling vital to protection gap initiatives

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Public and private market efforts and collaboration to narrow or even close the insurance protection gap need to be accelerated and uptake of risk transfer needs to be extended, according to Chairman of AXA Denis Duverne.

Speaking at an Insurance Development Forum (IDF) day held at the International Insurance Society (IIS) conference in Singapore last week, Denis Duverne, IDF Chairman and Chairman of the Board of AXA called for a redoubling of efforts by industry to address the protection gap.

Asia remains the region most affected by climate and natural catastrophes, and the Asian Development Bank (ADB) said that from 2000 to 2018 more than 84% of people affected by natural hazards were living in developing Asia.

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