Home to nearly one-third of the world’s population, several of the fastest growing economies and multiple countries with rapidly expanding populations, the Asia-Pacific region continues to present varying challenges for insurance carriers, managing general agents, captives, commercial organisations, and government entities across the region.
Based in Singapore, Mr Wong will lead Gallagher Bassett’s expansion of risk and claims solutions across the region and the deployment of tailored client solutions to its existing global, regional and Asia-Pacific clientele.
“We are witnessing a rapidly changing world, from market hardening, rising cost of risk, distribution and underwriting, and shifts to employment and operational delivery in commercial sectors – all while the insurable world continues to grow,” says Mr Wong.
“Our expanded presence across Asia will allow us to better support our client’s needs locally, drawing on our global expertise and multi-disciplinary team.”
The Asia-Pacific insurance industry is experiencing upward growth, largely driven by China and buoyed by positive performance in South Korea. Mr Wong says the greatest opportunity for Gallagher Bassett will be rising to the region’s shifting expectations and demographics.
Gallagher Bassett Executive Vice President – International, Jon Winsbury says the expansion is an exciting step in the company’s growing presence in the Asia-Pacific region.
“We’re thrilled to announce the appointment of Ming Wong as Senior Vice President – Asia to enhance our on-the-ground service offering and build on our exceptional reputation in the Asia-Pacific region,” says Mr Winsbury.
“With the insurance industry in the Asia-Pacific riding a strong growth spurt, Gallagher Bassett is well-equipped to maximize claims outcomes for new and existing clients.”
Last month, Gallagher Bassett was awarded Corporate Social Responsibility Program of the Year and Marketing Innovation of the Year at the Asia Insurance Awards.
Mr Wong comes to Gallagher Bassett with over 25 years’ experience in the financial services industry, including senior roles at Prudential Assurance Corporation, Aviva Asia and IC Frith & Associates.