Ceylinco at Asian Insurance Conference

CONFERENCE: The 4th Asian Conference on Claims Management in Insurance with a special focus on China, organised by the prestigious Asia Insurance Review, was held at the Shanghai Hilton in China, recently.

The forum, which brought together the global giants of the insurance industry, saw Ceylinco Insurance Co. Ltd. taking part yet again, with Jagath Alwis - Director (Technical) of Ceylinco Insurance, addressing the gathering.

The conference had as its theme 'Efficient Claims Management as a strategic business tool for success,' and discussed several key topics, including Claims Management as a definite strategy for growth and development, setting world class standards, effective loss mitigation measures, big claims and epidemics, including large and long-tail complex liability claims, tsunamis, SARS and avian flu, use of forensic science in claims management, the fraud challenge and legal issues in claims management. Special focus was also given to China, Australia, big claims and epidemics and motor insurance claims.

The conference brought together a plethora of insurance professionals, discussing the field of claims management as a major area of interest and concern in the fast growing markets of Asia and included participants from Asian countries including China, Singapore, India, Malaysia, Indonesia, Thailand, Australia and the Middle East, among a host of nations.

Invited for the second consecutive time (having addressed the same forum in Singapore in 2005), Jagath Alwis presented a paper on 'Claims management on motor insurance from a strategic and practical point of view' and discussed the challenges facing motor insurers in Asia, strategies to underwrite motor profitably and the dynamics of motor insurance from a claims perspective.

Drawing from experience, he also presented an actual case study of a multi-claims scenario. Following on from his elaborate presentation at this premier forum, several insurance companies from throughout Asia and the Middle East have shown a staunch interest in working together with Ceylinco Insurance to improve their standards of claims settlement.

Their super-fast claims settlement methods were first brought to the fore and won worldwide acceptance after Ceylinco Insurance won the award for the 'Innovation Of The Year' for the VIP On The Spot Motor Insurance Policy at the Asia Insurance Industry Awards in 2003.

Elaborating further, Alwis issued a call to action to the Insurance Industry at large, calling on the entire industry to band together to take a stand against fraudulent claims and thereby help settle genuine claims more efficiently and much faster.

The 4th Asian Conference on claims management in insurance was organised by the Asia Insurance Review and jointly sponsored by Maphilindo International Sdn Bhd, Malaysia and Insight Group Of Companies, Singapore and featured prominent speakers from most parts of the Insurance World, including John Pyall, the Senior Manager/Head of Regional Non-Life Claims and Underwriting Services of Munich Re, Stephen Thorpe, the President of the Australasian Institute of Chartered Loss Adjusters, James Ong, the CEO and Managing Director of Maphilindo International Sdn Bhd, Peter Ye Hui-Wen, Assistant Vice President - Claims, AIU Insurance Company, China and Prof Chin Tsu Kuang, the Chief General Manager, China Affairs of the Singapore Reinsurance Corporation.

They were among a host of members from a distinguished panel, who addressed the forum throughout the two days.