Insurance leaders across ASEAN have called for deeper regional coordination to address fast-evolving risks that transcend national boundaries. Speaking at a recent industry forum, senior executives emphasised that the interconnected nature of today’s risk landscape—driven by climate volatility, cyber threats, technological disruption, and supply chain fragility—requires collective action rather than isolated national responses.
Experts noted that climate-related losses in Southeast Asia are rising sharply, with extreme weather events increasingly affecting multiple countries simultaneously. This has intensified the demand for cross-border data sharing, harmonised risk frameworks, and collaborative research on catastrophe modelling. Leaders highlighted that regional cooperation could help insurers build more accurate pricing models, improve capital adequacy planning, and strengthen disaster-response mechanisms.
Cybersecurity emerged as another critical concern. The proliferation of AI-enabled attacks, coupled with the rapid digitalisation of financial services across ASEAN, has exposed insurers to new vulnerabilities. Industry representatives stressed the need for a shared regional cyber-risk repository and unified protocols for incident reporting. Such efforts, they said, would improve collective preparedness and reduce systemic exposure.
In addition, executives pointed out that emerging risks—ranging from geopolitical tensions to pandemic-related disruptions—are becoming more complex and interconnected. They urged regulators and insurers to jointly develop coordinated risk-mitigation strategies, particularly through regional public-private partnerships and capacity-building initiatives.
The forum concluded that ASEAN’s insurance sector must strengthen collaboration to remain competitive and resilient. By aligning regulatory approaches, enhancing data-driven risk assessment, and deepening cooperation in areas like climate resilience and digital security, ASEAN can build a future-ready insurance ecosystem that better protects businesses and communities across the region.
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