Innovation is purposeful change done differently and at scale – PwC Hong Kong’s Chris Hewison

He emphasised innovation as the defining capability that separates companies that thrive from those that merely survive.

Innovation has become the defining factor between organisations that thrive and those that fall behind. In insurance, technology, customer expectations, and regulation are reshaping models and driving transformation across operations, experience, and trust.

Offering his invaluable perspectives is Chris Hewison, Partner at PwC Hong Kong, bringing over 23 years of experience in auditing, accounting, and consulting for leading life and non-life insurance clients. His work spans statutory audits under HKFRS and IFRS, transaction-related services and regulatory matters across Asia, notably Singapore, Thailand, Malaysia, and Indonesia.

In addition to his client work, Hewison also supported the Hong Kong Government in designing the Voluntary Health Insurance Scheme (VHIS) and has represented the profession on the HKICPA Insurance Regulatory Advisory Panel.

As a judge at the Asian Innovation Excellence Awards 2025, Hewison highlighted how innovation—driven by technology, customer-centricity, and trust—is reshaping the insurance sector and defining the landscape for future growth.

With your extensive experience, how have you seen innovation reshape the insurance industry in recent years?

Innovation has dramatically reshaped the insurance industry, particularly through the integration of advanced technologies, evolving customer expectations, and the emergence of new business models. The shift is especially evident in life insurance, where traditional models are being reimagined to meet the needs of a more digital, data-driven, and health-conscious customer base.

One of the most transformative developments has been the use of AI and predictive analytics to personalise underwriting and risk assessment. Life insurers are increasingly leveraging wearable technology and health data to offer dynamic, usage-based policies. For example, some insurers now provide wellness-linked life insurance, where premiums are adjusted based on real-time health metrics such as activity levels, sleep quality, and heart rate. This not only incentivises healthier lifestyles but also deepens customer engagement and trust.

Another innovation is the rise of digital distribution and embedded insurance. Life insurance products are being integrated into digital ecosystems—such as banking apps, e-commerce platforms, and telehealth services—making them more accessible and relevant to younger, tech-savvy consumers. This shift is particularly impactful in Asia, where mobile-first markets are driving rapid adoption of digital financial services.

Operationally, insurers are using cloud-native platforms and generative AI to streamline policy servicing, automate claims, and enhance customer support. For instance, virtual agents powered by GenAI can now guide customers through policy selection, answer complex queries, and even assist with beneficiary updates—all with speed and accuracy that was previously unimaginable.

These innovations are not just about efficiency—they’re about reinventing the value proposition of life insurance. By aligning with customer needs, embracing technology, and building trust through transparency and responsiveness, insurers are transforming from transactional providers into lifelong partners in financial and personal wellbeing.

Having worked with different global leaders, what common traits have you observed amongst organisations that successfully drive meaningful innovation?

Three traits consistently stand out amongst organisations that successfully drive meaningful innovation. The first is bold leadership with a future-focused mindset, where successful innovators embrace uncertainty, think exponentially, and act with urgency and clarity rather than waiting for perfect conditions.

Second is integrated capabilities, as these organisations align their business, operating, and energy models to support innovation by building ecosystems, leveraging managed services, and investing in cloud-native technologies.

Third is trust as a strategic asset, since innovation thrives when trust is embedded in data governance, leadership behaviour, and stakeholder relationships. Leaders who earn trust, rather than assume it, create resilient and adaptive organisations.

What should companies prioritise to embed innovation into their strategy and operations successfully?

Companies must focus on three reinvention levers. First is business model innovation, rethinking how value is created and captured by exploring new revenue streams, partnerships, and customer segments.

Second is operating model transformation, using AI not just to cut costs but to reimagine workflows and decision-making, with process innovation at the core.

Third is energy and sustainability strategy, where optimising energy demand and aligning with climate goals becomes more than ESG compliance; it serves as a source of competitive advantage.

Additionally, embedding innovation requires a culture of experimentation, empowered leadership, and a clear strategy for capability development and resource allocation.

Where do you see the greatest opportunities for innovation to transform customer experience and trust in the Asian insurance sector?

Asia’s insurance sector is uniquely positioned to leapfrog legacy models, with the greatest opportunities emerging in three areas. First is personalised, where GenAI can tailor products, automate claims, and provide real-time support.

Second is the rise of digital ecosystems, as insurers collaborate across sectors such as healthcare, mobility, and finance to deliver holistic solutions that address core human needs.

Third is trust-building through transparency and data ethics, ensuring responsible AI use, strong data governance, and inclusive customer experiences as digital adoption accelerates.

Why is innovation the key to thriving in the present era?

We are living through a rare moment in economic history—what PwC calls a “decade of Value in Motion.” Innovation is no longer a strategic choice; it is the defining capability that separates companies that will thrive from those that will merely survive. The forces reshaping our world—AI, climate change, geopolitical fragmentation—are not incremental. They are discontinuities that demand a fundamental rethinking of how businesses operate, compete, and grow.

In this environment, innovation is the mechanism by which companies respond to constraints and unlock new possibilities. It enables organisations to reconfigure their business models, build resilience into their operations, and create new sources of value. PwC’s research shows that companies in the top 20% of performance—those that innovate across business, operating, and energy models—capture more than 80% of profitable growth. This is the essence of the “winner takes most” dynamic.

Take the example of a leading Asian insurer that faced rising customer expectations and operational inefficiencies. Rather than digitising existing processes, the company reimagined its entire claims experience using AI and cloud-native technologies. It introduced a virtual claims assistant that could assess damage via uploaded photos, cross-reference policy details, and initiate payouts—all within minutes. This wasn’t just a tech upgrade; it was a reinvention of the customer experience. The result? A 40% reduction in claims processing time, a measurable increase in customer satisfaction, and a significant boost in operational margins.

But the real impact went deeper. By embedding trust into its AI systems—through transparent algorithms, robust data governance, and ethical oversight—the insurer strengthened its brand and regulatory standing. It also freed up human capital to focus on higher-value tasks, such as complex claims and customer advisory services.

This example illustrates the broader truth: innovation is not just about doing things differently. It’s about doing the right things differently, at scale, and with purpose. In a world where value is shifting rapidly across domains—how we move, care, build, and power society—innovation is the compass that helps leaders navigate uncertainty and seize opportunity.

As a judge at the Asian Innovation Excellence Awards 2025, what key criteria will you be looking for when assessing nominees and their contributions to innovation?

I’ll be looking for several qualities when evaluating the nominees. Strategic clarity is essential, with innovation embedded in the company's core strategy rather than treated as a side initiative. Impact and scalability matter as well; innovations should deliver measurable value and demonstrate potential to scale across markets or domains.

Furthermore, trust and responsibility must be evident, with ethical foundations that prioritise data privacy, inclusion, and sustainability. Collaboration and ecosystem thinking are also critical, as the strongest solutions often come from partnerships that no single player could deliver alone. Finally, leadership and culture should reflect empowered teams, bold decision-making, and a willingness to experiment.

Ultimately, I’m looking for organisations that are not just reacting to change but actively shaping the future.