Page 18 - The Insurance Times October 2025

model risk management for analytics surance with instant, em- geotagged proof feed straight into
and AI-enabled underwriting. On the straight-through adjudication, speed-
risk side, carriers are reassessing rein- bedded cover ing payouts for lost baggage or minor
surance structures, aggregation limits, Travel insurance is undergoing a rapid medical expenses. Parametric add-ons-
and wordings to avoid unexpected capi- digital overhaul as insurers plug di- such as fixed payouts for flight delays
tal hits or conduct liabilities. rectly into airlines, online travel agen- or missed connections-reduce docu-
cies and fintech apps to offer embed- mentation and disputes.
Looking ahead, the study flags intensi- ded, click-to-buy cover at checkout.
fying scrutiny of greenwashing, stricter Policies are now issued instantly with Insurers say the shift cuts costs and
operational-resilience testing, and ex- e-KYC, while AI-driven pricing and risk widens protection to first-time buyers,
panded cyber incident reporting as checks tailor premiums to destination, while partners gain ancillary revenue
near-term pressure points-especially and higher cart conversions.
trip length and activities. On the ser-
for groups writing business across the
vice side, app-based assistance bundles Challenges remain around cross-border
US, EU/UK and Asia where timelines real-time travel alerts, telemedicine,
and expectations increasingly diverge. compliance, data privacy and fraud
cashless hospital access and multilin- controls, but the direction is clear:
gual support. travel cover is becoming simpler, faster
Digital platforms are re-
Claims are increasingly automation- and largely invisible, integrated into
shaping global travel in- first: photo uploads, e-receipts and the trip from planning to return.

29th FAIR Conference 2025 to be Hosted by GIC Re in Mumbai

Media Partner : The Insurance Times

T he insurance and reinsurance fraternity will gather in aims to highlight the critical role of resilience in sustaining
growth across emerging economies.
Mumbai from 5th to 8th October 2025 for the 29th
FAIR (Federation of Afro-Asian Insurers and Reinsurers) Con- Apart from technical sessions, the event will provide ample
ference, hosted by GIC Re. Themed "Emerging Markets - opportunities for business meetings, networking, and explor-
Towards Resilient Growth", this year's edition will focus on ing strategic collaborations. Set against the dynamic back-
strengthening cooperation, resilience, and innovation across drop of Mumbai-India's financial capital-the conference also
Afro-Asian markets. promises to showcase India's cultural vibrancy.

About FAIR Conference Highlights
The Federation of Afro-Asian Insurers and Reinsurers (FAIR) Plenary Sessions: Discussions on climate change, geopo-
was founded in 1964 to promote collaboration among insur- litical risks, digital disruption, and regulatory frameworks.
ers and reinsurers in Africa and Asia. Headquartered in Egypt, Technical Panels: Focused on cyber insurance, ESG-
FAIR serves as a unique platform for sharing knowledge, ex- linked products, InsurTech innovations, and catastrophe
changing expertise, and developing cross-border business risk modelling.
opportunities. Today, FAIR represents members across 53 Business Networking: Dedicated meeting spaces for
countries, playing a pivotal role in harmonising markets and bilateral and multilateral partnerships.
advancing international standardsfairconference2025.com.
Cultural Showcase: Mumbai's heritage and India's hos-
The biennial FAIR Conference has established itself as a pre- pitality will be showcased through curated programs for
mier platform for knowledge exchange and business network- delegates and spouses.
ing across Afro-Asian markets. This year's edition will bring to- Significance
gether 1,000+ delegates, 20+ global experts, and senior ex-
By hosting the FAIR Conference, GIC Re underscores India's
ecutives from insurance, reinsurance, and regulatory bodies. growing influence in the global reinsurance landscape. The
Speakers will address pressing issues including economic and conference promises not only to address industry challenges
political uncertainties, climate change, cyber risks, currency but also to pave the way for resilient, inclusive, and sustain-
fluctuations, and tightening regulations. The conference able growth in emerging insurance markets.

The Insurance Times October 2025 17