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Annual Update of Database and Risk Benchmark Report for Asia-Pacific Non-Life Insurance Markets

Project Start Date: April 2014

Project Lead
Evan Leite

Description
Risk Lighthouse (RLH) has developed a database and produced a research report in 2013. The proposed research study was for IRFRC to showcase practical research to a target audience of insurance companies and regulators. IRFRC engaged RLH to perform analysis of non-life insurance risks for the Asia-Pacific region. The research on non-life insurance derived metrics for exposure, loss and expense trend and market dynamics in select Asian-Pacific countries for major lines of business.  RLH developed and documented the research methodology and help guide the construction of a research infrastructure for IRFRC. 

The scope of the project is to perform risk benchmark analysis, with major focus on motor and commercial property segments. Based on the cleansed data, RLH performed trend studies using exposure and experience data in China and India, and identified benchmark in mature markets. Uninsured natural catastrophe exposures were also discussed. 

This is the 2014 update to the IRFRC report issued in 2013. This update coincided with the update of the risk benchmark database, and added new regulatory updates, CAT updates, and an improved upon the 2013 report’s reinsurance methodology.

The scope of work included:

Collection of Data (by company, by market segment, exposure units and experience data, with focus on the motor insurance and commercial property insurance lines of business for China and India markets). The process will be transparent and replicable. Data sources including unsuccessful attempt to inquire data will be documented. 

Cleaning and Validation of Data. Important assumptions and adjustments related to the data will be documented.

An Update of Market Dynamics (e.g., open rate competition in motor insurance in China) and Underwriter Inputs

Refinement of Methodology of Metrics and Indices 

Production of Risk Benchmarks, Exhibits and Reports

Project-related Articles, Papers and Presentations Per Request of IRFRC or SCOR​

Completed Research Report

  • Han Chen, Evan Leite, Yisi Lu (2014) 2014 Report on non-life insurance in China and India, Risk Lighthouse LLC - IRFRC, Nanyang Business School 
    Download PDF ​

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