The research “Internet Trends 2013”, completed by Kleiner Perkins Caufield Byers and released at end of May 2013 is an interesting read for anyone who wants to keep abreast of the latest digital trends. The Digital Insurer has added a short commentary from the perspective of the insurance industry in Asia.
What are the implications for insurance in Asia ?
Some views and opinions from The Digital Insurer:
- US domination of the internet : See slide 6/7 – 80% of internet properties in the US and 80% of the user outside the US and nearly 90% of smartphone IOS made in US. Great opportunity for Asian entrepreneurs to create internet real estate
- Digital changes behaviour : See slide 9/10 for some great illustrations of this behavioural change
- The rise of “wearables” : This has the potential to change the way life insurers assess risk – see slide 26/27
- Asia (ex Japan) loves sharing : See slide 28 for this remarkable trend
- Trend to being always connected : This is a live, real-time experiment that will remold the way we live our lives. As the authors question – is the world on the cusp of being a much safer place? slide 29
- China is mobile : In 2013 mobile internet usage exceeded internet usage from PCs (slide 33) and Chinese smartphone users are now larger than in the US (slide 67)
- Mobile is still high growth : Tablets and smartphones are growing rapidly – slide 44. And now wearables are on the move
What comes to mind as you reviewed the slides? What do you see as the relevant trends for insurance in Asia?
Editor’s note of appreciation : Thanks to Victor Morrison from Next IT and Phil Graves, author of consumer.ology, for sending the link to this deck to us.