Adhere to innovation, adapt to fast-changing market
In Tan’s view, innovative research and development are crucial to ACR’s present and future development. Risk solutions can be made through understanding existing risks, monitoring and controlling emerging risks, and linking direct and indirect risks.
Under this thinking, ACR launched the Asia Catastrophe Pool, a groundbreaking Pan-Asia catastrophe risk aggregation and management platform, and established the Asia Agriculture Pool in recent years.
They aim to boost more effective use of capital and risk diversification, and protect Asia’s development. At the moment, the two pools are managed by ACR's associated company, Asia Capital Reinsurance Malaysia.
At present, ACR has branch and representative offices in the Chinese mainland, Hong Kong, Taiwan, Japan, South Korea, Vietnam, India and Dubai.
Pay attention to China, expand in domestic market
With China’s increasingly important role in the world economy, ACR regards China as a key reinsurance solutions and services market. The mainland market has maintained a steady and rapid growth in ACR service demand.
"Our Chinese business partners know ACR has their interest in mind and is deeply committed to the long-term and healthy development of China's insurance industry. We have established good relationships with the Chinese market over the years, through our professionalism and understanding of China’s risk landscape, fair and transparent pricing, professional knowledge on international insurance underwriting as well as timely and sincere customer services, such as listening actively to our business partner demands," Tan said.
"We are very grateful to many top Chinese insurance and re-insurance companies for their trust in ACR, which enables us to help keep China's development safe."
ACR also learned that its business partners are very interested in knowing about risks, so it has arranged knowledge sharing and exchange sessions on enterprise risk and portfolio management. At the same time, the company also organizes corporate visits and underwriting seminars for its Chinese customers.
John Tan found that the market is thirsty for risk consulting services. ACR set up the Asia Risk - Tech Enterprises Management Consulting (Shanghai) in 2013 to provide professional risk engineering services in China and share related technical knowledge. The company was the first of its kind in the Chinese mainland.
At present, ACR has perils mapping projects in China. It teamed up with China's public welfare research institutions and developed a flood risk map for Shanghai’s Puxi district. The map was designed to improve the accuracy of regional flood risk assessment. ACR hopes that the new endeavor will cover a wider area, contributing more to the development of China's risk management.