MSIG, the insurance group comprising Mitsui Sumitomo Insurance and MSIG Asia, has announced a new leadership position focused on global broker relations.
Eric Schaap (pictured) has been named senior vice president and global broker engagement manager, a newly created role intended to advance the company’s broker partnership strategy and improve coordination across its international operations.
Schaap, who has accumulated more than 20 years of experience in the insurance sector, will be based in Singapore.
His reporting lines include Keisuke Ema, general manager of the international business department at Mitsui Sumitomo Insurance in Tokyo, for global responsibilities, and Clemens Philippi, CEO of MSIG Asia, for regional matters.
The company stated that Schaap’s mandate is to harness MSIG’s data and analytics capabilities to foster deeper collaboration with broker partners.
He will be responsible for developing a framework that supports consistent engagement and sustainable growth throughout MSIG’s network.
According to MSIG, a significant part of his role will be to use analytics to identify business opportunities, strengthen existing broker relationships, and ensure that initiatives at the global, regional, and local levels are aligned.
Ema said brokers play a central role in MSIG’s international expansion, contributing approximately half of the group’s global insurance premium
“By establishing this new global role, we aim to build stronger, data-driven partnerships that align our collective strengths across markets and deliver greater value to our clients and stakeholders,” he said.
Schaap’s professional background includes roles in major insurance markets such as Amsterdam, London, Hong Kong, and Singapore. He has led projects in analytics, regulatory-aligned strategy development, and operational improvement initiatives.
The appointment comes after MSIG Asia, a core part of the MS&AD Insurance Group, announced its business strategy for the next several years.
The company is prioritizing digital transformation, strategic partnerships, and emerging market trends to reinforce its position as a growth engine for the group. In 2023, Asia accounted for 35% of MS&AD’s international adjusted profits.
The company highlighted several trends expected to influence the market landscape:
To achieve its targets, MSIG Asia aims for a compound annual growth rate in profit after tax exceeding 15% by 2029.
The company’s approach centres on three pillars:
MSIG’s recent developments reflect a broader strategy of using analytics and technology to support broker partnerships and adapt to changing market conditions.
The introduction of the global broker engagement role and the company’s long-term growth plan for Asia are intended to position MSIG to respond to new opportunities and challenges in the insurance sector.
The group’s focus on digitalisation, partnerships, and data-driven decision-making is expected to play a central role in its efforts to expand its footprint and enhance value for clients and stakeholders in the region.
