Page 13 - Insurance Times May 2020

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GD Assist Ltd. hosts inter- NikAzman (CCO,Malaysia Healthcare data and analytics company.
Travel Council), Dr. Raymond Choy(Co-
national webinar on Founder & CEO of Doc2Us) and last but GlobalData’s Covid-19 Company Im-
"Medical Tourism & Hospi- not the least, Mr. Syed Moinuddin pact: Generali Insurance Group Ltd
report suggests that Generali is vulner-
tality after COVID-19" with Ahmed himself. able as it has an extremely strong pres-
Their insightful viewpoints and opinions ence in Europe (which accounted for
different stakeholders enlightened the audience about adopt- 93.7% of its revenue in 2018).
from Malaysia, Thailand & ing the new technology-based services However, one positive for the insurer
Singapore of medical tourism, such as,tele-medi- is that it has quite a diversified book in
cine or tele-consultancy. Moreover,
GD Assist Ltd., one of the subsidiaries their keen observations also laid out the terms of products. The non-life insur-
of Green Delta Insurance Company, has suggestions regarding the measures ance accounted for just over a quarter
recently organized an international that should be taken for the safety of of its total business at the end of 2018.
webinar titled "Medical Tourism & people while travelling after COVID-19. The insurer also has low exposure to
Hospitality after COVID-19" on 20th North America, where the number of
June,2020 (saturday),in association GD Assist Ltd., a venture of Green cases is extremely high, and continues
with Malaysia Healthcare Travel Coun- Delta Insurance Company Ltd., is the rising.
cil (MHTC) & Tourism Authority of Thai- largest healthcare management com- Deblina Mitra, Insurance Analyst at
land (TAT). pany of Bangladesh working in medi- GlobalData, comments: “This limits
cal tourism for Bangladeshis.
This was the first time a webinar was the company’s exposure to key lines of
organized in Bangladesh with different During the COVID-19 pandemic, the business, such as business interruption
stakeholders from Thailand, Malaysia, firm has successfully carried out few and credit insurance, which are ex-
& Singapore. The all three nations are evacuations of around 250 stranded pected to drive claims. Other non-life
heavily focused on Bangladesh market Bangladeshis recently from Thailand, insurance lines such as motor and ma-
from the perspective of medical tour- Malaysia and India and flied back 200+ rine, aviation and transit are expected
ism. The objective of this webinar was stranded Non-resident Bangladeshis to face stagnant growth, reflecting the
to discuss how COVID-19 mightshape including US immigrants, US immigrant prevalent macro economic situation”
the future of medical tourism & hospi- visa holders and Green Card Holders Generali has strong online channels,
tality market in the near future and from Dhaka to Chicago. however, and is well-placed to deal
how to strategize in adapting to the Generali’s Europe domi- with the crisis.
new norms after COVID-19.
nated business battling high Mitra concludes: “Generali has been
The webinar was hosted by Mr. Syed focusing on a multi-channel distribu-
Moinuddin Ahmed, Managing Director claims, says GlobalData tion network, based on a global agent
of GD Assist Limited. Followed by his Generali Group has extremely high network. It is now prioritizing digitali-
insightful speech, the panel discussion exposure to Europe, and especially in zation and diversification of distribu-
commenced with four panel members, its native Italy, which has been heavily tion to facilitate quicker distribution. It
namely, Mr. VachirachaiSirisumpan impacted by COVID-19 and this leaves has also partnered with insurtechs
(Director, New Delhi Office, Tourism it facing high payouts (insurance such as Nest in Germany to help pre-
Authority of Thailand), Ms. Nik Yazmin claims), says GlobalData, a leading vent claims.” T

The Insurance Times, May 2020 13