ABeam enhances insurance industry services in Southeast Asia
Singapore 2017/Feb./6 : ABeam Consulting Ltd. (Chiyoda-ku, Tokyo; Toshinori Iwasawa, president) has enhanced its ability to provide business consulting services to the insurance industry in Southeast Asia. As economic development brings about an increase in Southeast Asia’s middle-income population, the insurance industry in the region is experiencing market expansion, and insurers are taking notice.
Southeast Asia comprises an aggregate of diverse markets delineated by factors such as language and stage of development. This requires insurers to respond effectively to diverse conditions. Numerous insurers are already active in the regional market, including European and U.S. firms, making this a fiercely competitive arena. And the newness of the market means less legacy constraints and a dynamic environment in which new business models and technologies can be applied promptly.
In order to meet the increasing need for solutions in the Southeast Asian insurance industry, ABeam Consulting has increased our workforce of specialized industry consultants and initiated a Southeast Asia Insurance Specialist Team, based at our Singapore offices.
By joining forces with our other offices in Southeast Asia as well as strategic partner, BearingPoint and Optimum Solutions, we are able to cover the entire Southeast Asian region, providing support not only to Japanese insurance firms, but also those based in Europe and the United States, as well as local Southeast Asian insurers.
The services we provide are focused on the following three areas, for which the need is particularly high in Southeast Asia.
- Southeast Asian regional business operations and systems optimization
- Digital transformation
- Regulatory compliance
1. Southeast Asian regional business operations and systems optimization:
Our personnel have extensive knowledge and experience with region-wide management functions as well as a deep understanding of the conditions and characteristics inherent in each country. Using global rollout experience and methodologies, we can help insurers expand their business and optimize their operations within the region.
- Regional business operations and systems standardization and rollout
- New market entry (establishing new companies, acquiring existing firms (M&A))
2. Digital transformation support
With our specialized expertise in IoT (Internet of Things) data analytics, digital marketing and other relevant areas, research into the latest technological trends, as well as our ecosystem with the strategic partners, we are capable of supporting your transformation to new business models using digital technology.
- Digital strategy planning
- New business model design with InsurTech
- Data driven decision-making platform implementation
- Streamlining of operations with Robotics Process Automation (RPA)
3. Regulatory compliance support
In addition to an understanding of global and local regulations, our consulting teams understand the business processes and systems particular to the insurance industry. We can support you in making business process and systems changes compliant with regulations, helping accomplish your goals on time.
- IFRS compliance
- Common Reporting Standard (CRS)
At ABeam Consulting, we combine specialized expertise in particular themes with globally proven software solutions and strategy realization capabilities (project management). This enables us to go beyond merely mapping out strategies and plans to help insurers in Southeast Asia achieve their strategic objectives. In doing so, we aim to be a true business partner (“Real Partner”).
For more information, or to request information or a proposal, please inquire with our consultant listed below, or visit our website at http://www.abeam.com/sin/en/.
Ryohei Ueda, Director
ABeam Consulting (Singapore) Pte Ltd