A.M. BestTV: Asia Insurance CFOs Role Expands to Meet Regulatory, Technology and Cost Pressures - InsuranceNewsNet

InsuranceNewsNet

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading newswires
Topics
  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property & Casualty
  • Advisor News
  • Washington Wire
  • Fiduciary Rule
  • INN Exclusives
  • Newswires
  • INNsider
  • INN Exclusives
  • NewsWires
  • Magazine
Sign in or register to be an INNsider.
  • INN Exclusives
  • NewsWires
  • ★ Regulation News
  • Podcast
  • Magazine
  • About
  • Advertise
  • Editorial Staff
  • Contact
  • Susbcribe

Get Social

  • Facebook
  • Twitter
  • LinkedIn
  • Google+
Insider
newswires
newswires RSS Get our newsletter
Order Prints Share
May 31, 2018 newswires No comments Views: 1

A.M. BestTV: Asia Insurance CFOs Role Expands to Meet Regulatory, Technology and Cost Pressures

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)-- In this A.M.BestTV episode at the 12th Asian Insurance Chief Financial Officers (CFO) Summit in Hong Kong, CFOs said that a sharper focus by company leaders on compliance, profitability and technology competition has them handling an expanding array of responsibilities. Click on http://www.ambest.com/v.asp?v=hkcfosummit1518 to view the entire program.

“It is a very big challenge for CFOs today,” said David Alexander, chairman, general insurance council, The Hong Kong Federation of Insurers. “You have to cope with all of these structural changes in the market, as well as prepare accounts to quality standards, which require good set-ups. All of these changes are very challenging for the CFOs, who are also under cost pressures.”

Ila Imani, chief executive officer, Expenzing, said she believes that the role of CFOs is becoming more of a business partner. “Before CFOs were just concerned with running a good financial process and ensuring that all reporting was transparent and accurate. However, now, CFOs are becoming more critical to the chief executive officer and his board because the entire organization depends on regulations, as well as the profitability of the entire operation.”

Jef lacson, chief financial officer, AIG Philippines, Guam and Micronesia, also noted the changes that are taking place in the CFOs’ role. “CFOs are now involved in operations and technology, as well as all of the financial aspects of a company,” he said.

Also appearing in this episode:

  • Jonathan Zhao, managing partner and Asia Pacific insurance practice leader, EY; and
  • Chris Murphy, commercial director, Euler Hermes.

For full video coverage of the Asian CFO summit, including exclusive executive interviews, visit http://www.ambest.tv/cfo18.

Recent episodes of A.M.BestTV include:

  • 2017 Disasters Showed Building Code Soft Spots and Modeling Limits, Says Panel: At the Inland Marine Underwriters Association annual conference, insurance representatives said that in the wake of the 2017 catastrophes, they've learned how construction codes in Texas lag those in Florida and how to deploy claims support personnel across expansive loss regions: http://www.ambest.com/v.asp?v=imua2518.
  • French Non-Life Insurers See Improving Rates, Says A.M. Best Analyst: Alex Rafferty, senior financial analyst, A.M. Best, discusses the issues shaping France’s non-life insurance sector's stable market outlook: http://www.ambest.com/v.asp?v=frenchnl_english618.
  • Changes in Terror Tactics Force Insurers to Adapt, Say A.M. Best Analysts: Angelo Lozano, financial analyst, and David Blades, senior research analyst, A.M. Best, discuss a new Best's Special Report that examines how insurers are using stress testing, limits and reinsurance to address the changing nature of terror risk: http://www.ambest.com/v.asp?v=tripra518.
  • Flood Modeling, Mapping Science Continue to Develop: At the RMS Exceedance 2018 conference, modelers and risk experts say current U.S. flood designations do little to distinguish depth of flooding, and maps draw stark, sometimes inaccurate, distinctions between flood and non-flood regions: http://www.ambest.com/v.asp?v=exceedance5518.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2018 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180531006300/en/

A.M. Best

Lee McDonald, +1-908-439-2200, ext. 5561

Group Vice President, Publication and News Services

[email protected]

Source: A.M. Best

Older

Tucson police substation offers new way to get report for minor crashes

Newer

Correction: XGR-Medicaid Expansion story

Advisor News

  • Baby Boomers Flocking To A Mexican Retirement
  • Retired Massachusetts Landscaper Scammed Out Of $100K, State Says
  • MDRT Study Finds Consumers Want Advisors Over Tech
  • Your Clients Should Plan Retirement Savings To Last 23 Years
  • Robert Moore Steps Down As CEO Of Cetera, Due To Health Reasons
More Advisor News

Annuity News

  • Arizona The Latest State To Attempt An Annuity Sales Rule
  • Nick Lane Assumes Role As President Of AXA Equitable Life
  • Annuity Sales Spiked 14 Percent In 2018, No Slowdown In Sight
  • Speak Out: NAIC Gets Plenty Of Advice On Annuity Sales Rule
  • Lincoln Financial Introduces Annuity Designed For Retirement Rollover Dollars
More Annuity News

Health/Employee Benefits

  • Kansas GOP Pushes For Cheaper Health Plans That May Not Cover Pre-Existing Conditions
  • A Tax Penalty Could Help Shore Up Obamacare In California
  • Government Headed For Close To Half The Nation’s Health Tab
  • National Health Expenditures To Hit $6T By 2027, CMS Predicts
  • Florida Governor Wants To Import Drugs From Canada
More Health/Employee Benefits

Life Insurance

  • Family Turns To Crowdfunding To Pay For Loved One’s Funeral
  • AM Best Upgrades Issuer Credit Rating Outlook For Principal Financial
  • AIG Sets New Term Life Insurance Rates
  • Northwestern Mutual Reports Strong 2018 Financial Results
  • Florida Police: Niece Steals $188,000, Life Insurance, From Aunt
Sponsor
More Life Insurance

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.
select Newsletter Options

Most Popular

  • Annuity Sales Spiked 14 Percent In 2018, No Slowdown In Sight
  • Arizona The Latest State To Attempt An Annuity Sales Rule
  • Private Equity Targets Insurance Agencies For M&A Activity
  • Medicare For All, Single-Payer Will Be Discussed At NAHU Conference
  • Understanding The Benefits Of Whole Life Insurance

Featured Offers

Text Ads

Press ReleasesAll press releases

  • LegacyShield® Launches MyTax, An Integrated Solution for Simplified, Professionally Prepared, Tax Returns
  • Nassau Re Launches Insurtech Incubator Will Give Space and Support to Startups in Hartford
  • Peerfit Prepares for Medicare Expansion with Peerfit Move, Recruits Industry Veteran
  • Great American’s Annuity Customers Share Their Secrets to a Great Retirement
  • Securian Financial Introduces Affordable, Protection-Focused IUL with No-Lapse Guarantee
Add your Press Release >

Topics

  • Life Insurance
  • Annuity News
  • Health/Employee Benefits
  • Property and Casualty News
  • Advisor News
  • Washington Wire
  • Regulation

Top Sections

  • INN Exclusives
  • INN Insider

Our Company

  • About
  • Editorial Staff
  • Advertise
  • Contact

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter Google+
© 2019 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • Sitemap
  • AdvisorNews

Sign in with your INNsider Account

Not registered? Become an INNsider.