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Inzsure provides end to end customer support for SME companies in Singapore and Malaysia. Throughout the insurance cycle from procurement to claims to renewal we are there for you.

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Choice

When it comes to insurance, who you do business with should always be your choice. With Inzsure, you have access to quality policy options, all the time.

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Delivering value from the market to you without hidden fees or commisions.

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Using technology to protect your transactions combined with fast execution.

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Great value

Inzsure's intelligent automation not only saves you valuable time, but saves you money through greater service efficiency.

At Inzsure, the customer is truly in control

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by Inzsure
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Has the successful Asian CEO of the last 15 years built a resilient, sustainable legacy to pass on to future generations - Or a house of cards? After over twenty years running, owning and managing risk at some of Asia's largest companies I've written down all the best bits I can remember in this ebook which is just UKP3.23 on Amazon Kindle . In this packed book I give practical advice to CEO's and their teams on how to best manage risk in Asia. To access this low post Brexit price please just use the following link: https://lnkd.in/fMFe8t9 Today, the 2 minute Preface 'Why Asia, Why Now?' Set aside eighteen minutes and ten seconds to find the answers to this question and many more. The business environment for the CEO in Asia has never been better than over the last fifteen years. The Asian CEO who hasn’t provided a substantial return on shareholder investment during this time must have been pretty unlucky, pretty incompetent, or both. The Asian CEO that doesn’t keep asking “Why Asia, Why Now?” probably won’t keep their job for much longer. #business #blockchain #tech #fintech #insurance #sustainability #risk #investments #singapore #insurtech #asia #sme #hongkong #ceos

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Want to know more about the city risk in Sydney or any other big city in Asia for that matter? Sign up now for the Lloyd's PARIMA City Risk Index session on 22nd August.

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The future of work http://bit.ly/2n4xGi0 

Will you be employed? Skills demanded by the changing nature of work

In 1997, Garry Kasparov, one of the greatest chess players in history, lost a chess match to a supercomputer called Deep Blue. Some years later Kasparov developed “advanced chess,” where a human and a computer team up to play against another human and...

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Medium

by @TunstallAsc
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Has the successful Asian CEO built a resilient, sustainable legacy — Or a house of cards?

06 Sep 2018 06:06:58

‘Why Asia, Why Now?’The business environment for the CEO in Asia has never been better than over the last fifteen years. The Asian CEO who hasn’t provided a substantial return on shareholder investment during this time must have been pretty unlucky, pretty incompetent, or both. The Asian CEO that doesn’t keep asking “Why Asia, Why Now?” probably won’t keep their job for much longer.Why Not? Six reasons:1. Internal powerhouses: Never in human history on the planet have so many people moved from low income to medium or high-income brackets in such a short space of time as in Asia in the last fifteen years. It will never happen again like this, in these numbers, anywhere, ever. All these fellow Asians need fridges, cars, holidays, condos — the list is as endless as the business opportunities.2. External money trees: Investors and companies from North America and Europe have never spent so much time and money looking for partners to help them ‘make it big in Asia’ as in the last fifteen years. As Asia continues to move from emerging to ‘emerged’ the focus from the West will sooner or later switch to Africa and South America.3. Economic blue skies: Never has the Asia region had such a prolonged period of benign economic factors. Since the Asian Financial Crisis of 1997 / 1998 Asian economies have shrugged off every new trauma relatively unscathed. Dotcom bubble — No impact. 9/11 — No impact, Global Financial Crisis — Not only no impact but conversely the best buying opportunity ever. Asian CEOs looking to go global could never have imagined in their wildest dreams this chance to snap up so many global brands at rock bottom prices.4. Limited impact from Natural Catastrophes. There have of course been significant events over this period and on a personal level they have been terrible tragedies. The Indonesia earthquake and tsunami; the Japan earthquake, tsunami and consequential nuclear issues; the Thai floods. All of these caused deeply regrettable loss of life but from the perspective of the Asia wide economic engine, the impact was immaterial. Earthquakes, tsunami and flooding are part and parcel of the risk of doing business in Asia. Every Asian CEO has this factored in already.5. No Pandemics Spread of disease has had virtually no unpredictable impact over the fifteen-year period. SARS (Severe Acute Respiratory Virus) was very disturbing but in reality, only lasted about six weeks. Concerns over repeated bird flu and swine flu outbreaks have come to nothing to date. The likes of MERS, Ebola and Zika whilst highly destructive to economic value in some countries of the world have had little or no impact in Asia.6. Geopolitical Stability is at an ‘all-time’ high in Asia. Admittedly there has been civil unrest in Thailand and one or two other places. But a savvy Asian CEO allows for disruption resulting from Thai politics every five or ten years or so anyway. North Korea remains an unpredictable threat but has so far proven mostly impotent. The elephant in the room is China. A massive runaway success that would have been inconceivable only a generation or two ago.To paraphrase the words of UK Prime Minister Macmillan to the British people in 1957: “You’ve never had it so good” Congratulations! Here’s to the Asian CEO who has been in the right place at the right time.But it’s not all good news. Looking ahead in the murky crystal ball, headwinds are definitely building up for business in the region. Here are a few examples:1. China Global Powerhouse Years are Finished. Much as everyone misses the highs, it is completely unrealistic to expect China to ever get back to 8% to 10% growth. 6% dropping to 4% seems much more likely medium term. Is the complex domestic economic/social/political contract sustainable under these conditions? How will potential backlashes against OBR play out across the region and into Africa?2. India Struggling with Momentum Despite its best efforts India won’t replace China as Asia’s powerhouse soon, if ever. India’s GDP is only one quarter the size of China today and faces internal bureaucratic and other difficulties which were never an issue in China in the heady days of top speed growth.3. Technological Disruption to Replace People Technological change is accelerating business model change globally, often in ways that we poorly understand and may be ill-prepared to meet in Asia. The historical heart of Asia’s competitive advantage? — Do it more cheaply, with good quality and stay flexible. This model is fundamentally at risk from the emergence of the Internet of Things, Advanced Robotics and Artificial Intelligence. These developments are leading to heavy redundancies in both blue collar and white collar roles globally and at an accelerating pace. Many Asian business models will likely be swept away with the tide of change.4. Climate Change Global Warming and the potential failure to respond to its implications is the number one risk in the World Economic Forum’s Global Risk Report. The four cities with the highest GDP at risk from natural disaster globally today are Taipei, Tokyo, Manila and Seoul according to the Lloyds City Risk Index. The impact of climate change as it emerges will disrupt everyone but could likely displace and disrupt more people in Asia than anywhere else on the planet.5. Water and Food Security There are huge emerging risks around the medium term security of both water and food supplies. With the largest populations on the planet, businesses in Asia will see both risks and opportunities in this area within a relatively short time frame.6. Global Political Tension There are troubling times on the global political stage. On the plus side, progress has been made in USA/North Korea and USA/Cuba relations. The Ukraine/Russia standoff seems to have stabilized at least in the short term. But Brexit, Trump increasing xenophobia and tensions between Russia/USA all indicate business risk levels unprecedented since the Cold War ended.In our own region, religious tensions are likely to increase as fallout from the situation elsewhere. Furthermore, and arguably for the first time in a thousand years, China has become expansionist again. The Nine Dash Line and the grab for the South China Sea receives little attention in the Western media but may have the most significant geopolitical ramifications in Asia since the end of the Vietnam War. That’s before we talk about the long-term implications of the Belt and Road Strategy.The unpredictable question for Asia is “How long can the blue skies last?”Has the successful Asian CEO of the last 15 years built a resilient, sustainable legacy to pass on to future generations? Or a house of cards that will collapse at the first puff of severe headwinds in the region.After over twenty years running, owning and managing risk at some of Asia’s largest companies I’ve written down all the best bits I can remember in an ebook on Amazon Kindle. In this packed book I give practical advice to CEO’s and their teams on how to best manage risk in Asia.To access please just use the following link. https://www.amazon.co.uk/dp/B01MU3GSGS

Photo by Kaique Rocha from Pexels

Why Insurance is Failing?

13 Aug 2018 06:09:00

… and how to leap the gap — at least for companiesThe insurance industry provides amazing support to individuals, families, and businesses, often in their darkest times. Society truly benefits enormously from the proper running of the insurance sector. However, the benefits of insurance provide no immediate gratification to the purchaser. I will explain how the insurance community has historically addressed this issue. I will go on to consider why this has led to systemic weaknesses across the whole sector, which may now jeopardize an industry that I love — unless these challenges are addressed.The ChallengeThere is no tangible product delivered within most insurance transactions. The most risk averse individuals will buy it. The least risk averse will self-insure. However, no-one really wants insurance until they really need it. The customer only buys trust — or a promise of trust when times are hard. This tempts intermediaries to sell insurance using the tactics of fear and commoditization. Front-loaded commissions can lead to a tendency to secure sales irrespective of need. This propensity may lead to misrepresentation; it leads to dissatisfaction; temptation leads to fraud; suspicion and a breakdown of trust lead to disfunctional claims systems; and so it goes. The cycle of fraud in the industry has undermined the true benefits of insurance for a long time. The industry has no product other than trust. There is nothing else to take away from the transaction other than a promise. If the customer considers the promise to be compromised, there is nothing left.The prolonged, cyclical soft market in insurance, coupled with an inflow of fresh capital during an unprecedented period of interest rates close to zero has placed increasing pressure on bottom lines. The unintended outcome has been that many in the sector have systematically underinvested in technology and innovation. The majority of these companies are left with systems, processes, and practices that would still be mostly recognizable by those that were working in the industry in the 1980s. Whilst the insurance sector stagnated, changes across the business world and other industries were radical. It is only in the last decade or so that the world has enjoyed smartphones, social media, e-readers, YouTube, Google Maps, The Cloud, and virtual reality. Within the same time frame, the companies that dominated specific global markets have radically changed. We all know the GAFA (Google, Apple, Facebook, and Amazon) Effect. Changes brought by Uber and Airbnb are arguably even more radical in the transport sector with autonomous driving as well as new approaches to accommodation and the renting market. Customer expectations have changed forever.Connecting Risk, Insurance, and Systemic FailureThe purchase of insurance products should be an important decision-making process for both individuals and companies. However, it is often an afterthought of last recourse, particularly after something goes really bad. Unfortunately, people tend not to like spending time thinking about the bad things in life. We all hope to live in a relatively benign environment. Arguably, human nature tends to allow personal and business risk protection methods to fall down the priority list. Unless we are jolted into action.There is an old adage that insurance gets sold, it doesn’t get bought. Over the years this has been the task of intermediaries — agents and brokers — who communicate directly with customers and explain why insurance is a good thing. When it works well, it’s a tremendous partnership. When it doesn’t work well, the customer feels they are getting poor or biased advice. As with many intermediary processes, there is little transparency as to who is really working for whom. If experience with claims is also problematic — either directly or indirectly — then the whole trust process is undermined. Both individuals and organizations can question the merit of the solution and may seek alternative risk mitigation measures which they feel are more trustworthy.In the corporate setting, the perceived lack of transparency and governance in the insurance industry often translates into distrust in the buying process. The result is that insurance buying is frequently delegated to relatively junior and inexperienced employees who often have other things to do anyway. The purchase process can become a compliance-driven, commodity buy with little focus on the underlying reason for the policies, their coverage, and, most importantly, their security. The relatively low-level employee has a transactional relationship with a broker or agent. The relationship is muddied and sometimes dominated by internal purchasing teams who often have no idea how the transaction should be structured or why it might be important.Everyone loses in this scenario. The CEO whose company is in this mindset has missed a huge partnership opportunity. The broker or agent loses or ignores the chance to educate. There are huge benefits that can arise from a more robust debate and attitude to risk and insurance management. The underwriter and the markets behind the policies often have little or no idea of the quality of the risk protected. So, the market will provide something cheap and cheerful — particularly in the soft markets prevalent at the moment — and do everything in their power to delay or avoid paying claims if something goes wrong.Transparency and Due Diligence: Where Can the Industry go from Here?1. Deal with low penetration of technology. Insurance remains comparatively old fashioned when compared to the financial services sector generally. The failures of companies throughout the insurance stack to address technology issues are legion. Many insurance transactions remain mostly face-to-face and woefully inefficient. This is difficult to address. There is such a strong general distrust in the industry that many customers still retain a desperate need to look into the eyes of someone they hope will still be there in the event of a claim.2. Deal with low transparency. Who gets paid what for the procurement transaction? There is almost no transparency in the insurance sector and a constant stream of high profile criticisms, both from within the industry and investigations by global regulators,[2] show that there remains something intrinsically dirty and incestuous in the complete process that customers never get to see.3. Deal with low speed. Placement takes a long time in insurance and usually involves extensive form filling. As discussed above, that’s nothing compared to the demoralizing claims experience in many cases.4. Deal with low IT security. The sector is well recognized as having comparatively weak data management processes compared to other areas of the financial services industry. There have been repeated small-scale cases of data loss. Fingers crossed there isn’t a “Sony” moment imminent as this will do nothing to help the sector’s already tarnished reputation with customers.Does InsurTech have the all answers? That’s debatable. But clearly change is imminent in some form or another and The Insurtechbook is a superb way to continue our self-critique as an industry.These extracts are from an opening chapter in The Insurtechbook : available here or hereInzsure.com re-designs the SME commercial insurance experience, streamlining the customer journey and reducing systemic inefficiencies. Launching soon in Singapore and Malaysia.#insurance #insurtech #fintech #tech #blockchain

Our team

Steve Tunstall
CEO

Steve Tunstall

Steve is responsible for managing all aspects of the business, including strategy, finance, sales and marketing.

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Robin Lee 李显龙
CXO

Robin Lee 李显龙

Robin is responsible for managing the overall experience of the business. He is of Chinese-Malaysian descent…

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Assen Tchorbadjiev
CTO

Assen Tchorbadjiev

Assen is responsible for the technology platform vision and oversight at Inzsure. He is from Bulgaria and moved to the US in 2009.

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Singapore

20 Collyer Quay, #09-01
049319
Singapore

Malaysia

A-38-02, Level 38, Tower A,
Menara UOA Bangsar
No 5, Jalan Bangsar Utama 1
59000 Kuala Lumpur, Malaysia

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1595 Adolfo Drive
San Jose,
CA 95131
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