Increased life expectancy in the Asian region means plenty of business for insurers, with need for health insurance etc. Insurance premiums are growing faster than Europe and North America yet still largely it remains underinsured. Culture dictates that majority build up savings themselves rather than pay someone else to bear it. Innovative products are offered for specifically for Asian countries because of the demographic dividend. The growth of the insurance market is typically fuelled by innovative product design and population pressure. Many global insurance tycoons are joining hands with Asian tech firms, banks to launch their products in the large expanding markets.
To know more: http://www.economist.com/news/finance-and-economics/21654086-insurers-asia-cauldron-innovation-also-competition-astounding?zid=300&ah=e7b9370e170850b88ef129fa625b13c4