Securing and retaining the best talent and getting a better handle on new and emerging risks are some of the biggest priorities for re/insurers in Asia at the moment—but artificial intelligence (AI), perhaps surprisingly, is less of a worry.

Those were some of the key findings of a survey sent out ahead of the Singapore International Reinsurance Conference (SIRC) taking place this week, as delegates were asked to consider where they see some of the biggest opportunities, their attitude to technology—and what else is on their agenda.

On opportunities, respondents cited expansion in all its forms: in terms of bigger market share, new lines of business and new geographies. Asia is typically seen as a region of opportunity and these results appear to characterise that sentiment.

“We see the prospect for solid growth in Asia—although you also have to be careful and selective,” one respondent said. Another added: “It is such as vast region and the protection gap is a big problem. But the industry must also see that as an opportunity.”

New risks need new solutions

Talent is obviously a big concern for delegates at SIRC, reflecting some of the conferences themes. When asked about other talking points, this scored highly, along with getting a handle on new risks.

“We must attract better people,” one respondent said. Another added: “This industry is becoming ever more complex, with new risks, new solutions. We need the brainpower to manage that—people who can think outside the box.”

We asked about respondents’ attitudes to technology. The highest percentage of respondents said they were exploring options in-house—albeit often with the help of third parties.

It may be a surprise to some that AI did not feature more highly, given its high levels of publicity in the mainstream media at the moment.

“Technology is technology—there is always something new. AI is just the latest flavour,” said one respondent, perhaps revealingly.