Meet the team - Albert Chow, General Manager, Asia

Albert says that while the automotive markets can vary greatly between these countries, some of the region’s more mature markets are proving enthusiastic adopters of electric vehicles (EVs).

“EVs already have a 14% market share in Thailand. In Singapore, one out of every three cars sold this year is an EV and will increase over time,” says Albert. “This market is growing fast in Asia.”

Huge growth opportunities

“We have to underwrite EVs differently than traditional combustion engines, so the region presents some interesting challenges for the business,” Albert explains.

The most popular choices for electric vehicles in the region aren’t the best-known EV brands in the US, UK and Europe– they’re new brands from China.

“We need to understand this shift and move with it. If we don’t try, we never learn, and there are huge growth opportunities if we do.”

Motor vehicle ownership rates vary from country to country. While Malaysia has slightly over 500 vehicles per 1,000 people, markets like Indonesia and Philippines have relatively low vehicle ownership rates of below 100 vehicles per 1,000 people presenting a significant growth opportunity for automotive protection products to penetrate the market as it matures.

Speaking the client’s language

Over the last 23 years, Albert worked within the automotive industry across various organizations and roles in APAC.  One half of his career has been with Automotive manufacturers and dealer groups.  It really gave him a great understanding of both sides of the business; making and distributing vehicles vs. marketing and selling them.  The other half of his career was working for companies that serviced these sectors, a move that culminated in his joining QBE Automotive Protection in May 2024.  He has grown businesses and built long-term B2B relationships with the automotive OEMs, distributors and dealers, leveraging on his understanding of the unique needs of the industry. But he hasn’t forgotten his origins on the client side.

“We’ve got great people, systems and products dedicated to the automotive protection market,” he says.

“What really stands out is the fact that most of our people have worked in the automotive industry.

“My priority is to ensure everyone on the team understands our clients’ concerns and expectations. We can put ourselves in their shoes and be more than just an insurer that sells policies.

“We speak our clients’ language.”

Combatting client challenges with collaboration

When that expertise and empathy is combined with data-driven risk selection and pricing, the result is a team that operates with a level of autonomy and flexibility that competitors struggle to match.

“Our people are agile and willing to look at different ways of doing things,” Albert explains.

“They consider new ideas, collaborate and work as a team. That makes QBE a really fun place to work and helps us be really effective in addressing the challenges and opportunities our clients face.”