Hong Kong’s Insurance Authority (IA) will host its second Asian Insurance Forum (AIF) on December 10, with the theme ‘Connectivity and Innovation – The Key to Competitiveness and Inclusiveness’.
According to the IA, the AIF is its annual flagship event that facilitates high-level interaction among international and local financial regulators, industry leaders, and academics to discuss the direction and development of the insurance industry.
The forum’s keynote speakers this year are Liu Fushou, chief counsel of the China Banking and Insurance Regulatory Commission, and Jonathan Dixon, secretary general of the International Association of Insurance Supervisors.
Meanwhile, Paul Chan, financial secretary of Hong Kong SAR, will be the guest of honour at the luncheon session and address the meeting. Bernard Chan, convenor of the non-official members of the Executive Council; Tim Lui, chairman of the Securities and Futures Commission; David Wong, chairman of the Mandatory Provident Fund Schemes Authority; and Laurence Li, chairman of the Financial Services Development Council, together with senior insurance executives and seasoned professionals, will participate in four discussion panels to share their insights and experience.
“Financial connectivity and technological innovation are crucial to the sustainable growth of the insurance market,” said Moses Cheng, chairman of the IA. “There are enormous opportunities arising from the Greater Bay Area (GBA) development and the Belt and Road Initiative, which will allow Hong Kong to play a larger role in promoting internal connectivity among the 11 cities in the GBA and external connectivity between mainland China and rest of the world.”
“Insurtech is also a powerful driver of change, which will make insurance services and products more accessible to different segments of society and help foster financial inclusiveness. It is important to formulate a pragmatic strategy, which ensures prudential supervision without stifling innovation,” he added.