How Asia's growing middle class can drive growth in insurance
Play • 24 min
Despite economic challenges, the expanding middle class in Asia maintains its optimism, which creates substantial potential for the insurance sector. The top concerns for middleclass consumers are their health, happiness, and financial security. These clients will need more risk mitigation and protection goods and services as the region's economy prospers, which will open up significant growth potential for the insurance and reinsurance industries. In order to effectively tap into this significant insurance market sector, it is essential to understand the behaviour and tastes of the expanding Asian middle class. As these consumers start to amass wealth and begin to make preparations for their retirement and children's education, they require more insurance protection.

Points of discussion:

1. The GDP proportion of emerging Asia has dramatically expanded, rising from 5% in 1990 to an expected 26% in 2022 (As per IMF). The expanding middle class in Asia is evidently optimistic despite…
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