Meet Ronak Shah, Chief Executive Officer at QBE Singapore

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Tell us about your business

QBE is an international insurer and reinsurer offering a diverse portfolio of commercial, personal and specialty products, as well as risk management solutions. Our diverse product portfolio includes property, motor, crop, public/product liability, professional indemnity, workers’ compensation, energy, marine and aviation. Our purpose is to give people the confidence to achieve their ambitions.

QBE in Singapore having been established in 1891 will be celebrating its 130th year anniversary in 2021 and is the Republic’s oldest registered Australian company. QBE Insurance (Singapore) Pte Ltd is part of the QBE Insurance Group which is listed on the Australian Securities Exchange and headquartered in Sydney.

What’s your role all about? 

I am the Chief Executive Officer for our Singapore Business.

What’s the hot topic in your sector right now? 

The hot topic in our sector is digitization. The pandemic has sped up the need to upgrade and transform legacy systems in the insurance market, especially for general insurers. All this predicated by the need to service and reach customers as efficiently as possible. Customers and business partners expect a seamless experience when transferring their risk to insurance and it is imperative for the industry to make this happen. The Government of Singapore and the insurance industry regulator, the Monetary Authority of Singapore (MAS) are actively supporting the industry in driving digitization and modernization. Very much a hot topic in this sector right now!

Why are you a member of AustCham in Singapore?

QBE Singapore, being an Australian entity is a firm believer in the values that AustCham drives here in Singapore. We have been a long time member and truly find the events and articles that AustCham facilitates and presents beneficial to our business partners, customers and ourselves.

Where are your favourite places to go to relax in Singapore?

I love playing golf, taking long drives (calming and it allows me to think!) and until recently, cycling. These activities enable me to spend time in places that are full of greenery and full embody the beauty that Singapore presents to us.

What are your predictions for the next 12 months?  

I expect Singapore’s economy to bounce back in a resolute fashion and expect us all to get back to normal, albeit in an endemic environment. I also expect the borders to open up with leisure travel happening. In order for this to happen, it is imperative that we take vaccinations seriously. I expect a number of industries to evolve as they meander through this endemic environment. Interesting times ahead!

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