A Message from the Chairman

The Taiwan Insurance Institute (TII) was established in 1985. In the past 32 years, the achievements and on-going efforts of TII staff have facilitated safe and sound development of the insurance industry and helped further promote the interests of the insurers, the insured, as well as the social public. Owing to the outstanding performance and contributions of the previous executive management and TII employees, a solid ground for the future development of TII has already been established. The priority tasks in the coming years are set forth as the followings:

Chairman Hsien-Nung Kuei
Chairman
Hsien-Nung Kuei
1.   Enhancing the Actuarial/Statistical Functions as well as Big Data Collecting/Analytical Capacities of TII to Foster a Favorable Business Environment for the Insurance Industry
  To facilitate sound development of the insurance industry and assist insurers to strengthen their financial and operational structure, TII will continuously introduce the most up-to-date insurance concept and expertise from abroad. In addition, TII will enhance the research analysis of various databases including big data as references for insurers to formulate development strategy. Furthermore, TII has the intention to foster a favorable business environment for the insurance industry via research and seminars on key insurance topics with participants from both the insurance industry and the academics for designing the implementation of various insurance policies.

2. Assisting the Establishment of Insurance Supervisory Rules and Regulations in line with International Standards as well as Enhancing Research of the Products and Regulations Resulting from FinTech/InsurTech under the Guidance of the Financial Supervisory Commission
The current development of the global insurance industry has entailed greater compliance of national insurance supervisory system with international standards in areas of insurance supervision, solvency, and accounting standards, etc. Moreover, global insurance industry has encountered issues regarding global financial instability, climate change, aging population and the state-of-the-art innovation of FinTech/InsurTech. Based on the professional knowledge and expertise, TII is obligated to provide the supervisory authority with necessary assistance in developing insurance sector development and supervisory policies for being in tandem with the global trend.

3. Assisting the Expansion of the Insurance Industry in Asia including ASEAN Nations and South Asia for the Establishment of Commercial Presences and Engagement in Business Operations in accordance with the “New Southbound Policy”
With regard to the business expansion of Taiwanese insurers, in addition to Mainland China, TII will enhance the on-going cooperation with related insurance institutions of ASEAN member nations and south Asia. TII is in an attempt to draw the attention of insurers on the future development of other Asian markets. Making expansion in Southeast/South Asia will not only provide Taiwanese enterprises aboard with better service but also help insurers enlarge their business scale, service domain and international development.

4. Promoting Insurance Education, Knowledge and Awareness in the Society as well as Cultivating International Insurance Talents for the Insurance Industry
TII is a non-profit organization in-between the government and the business sector to serve the social public. TII has the obligation to promote the awareness of insurance knowledge in the whole society in a neutral, independent and professional manner. Through the education of promoting correct insurance concept and knowledge to the public, TII is aiming at enhancing the protection of the interest of policyholders. Meanwhile, to cope with shortage of insurance talents, the compliance with international standards as well as overseas expansion policy, it is necessary for TII to provide insurance practitioners with trainings of international insurance knowledge and expertise.

5. Improving and Completing the Internal Control and Management System of TII
TII takes on multiple roles responsible for the research and promotion of insurance policy, maintenance of insurance core values and provision of insurance related services. As a result, TII acts as the bridge between regulatory agencies and insurers and needs to keep harmonious partner relationship with all the stakeholders. In addition to holding a neutral, independent and professional position, TII is obliged to upgrade its administrative efficiency and flexibility to build up a key foundation for tackling outstanding issues. Consequently, updating its internal control and management system, standard operating procedures, and paper work process is crucial for TII to assume the pivotal role of serving as the bridge among the public sector, enterprises and the social public.

The great ancient philosopher, Confucius once made his wishes by saying that: “in regard to the aged, give them rest; in regard to friends, show them sincerity; in regard to the youth, treat them tenderly.” TII is confident that the wishes of Confucius will come true through appropriate design and implementation of insurance services.

In the future, TII will endeavor to promote the insurance core values of maintaining social security and stability through the functioning of the insurance industry. TII sincerely hopes that unfortunate events happened on the minority people may be shared and compensated by the majority in the society. Thus, TII will continue to help maintain safe and sound business operation of the insurance industry under the guidance of the Financial Supervisory Commission. It is wished that a peaceful and happy society with sympathy will be established via the provision of insurance services.
Chairman
Hsien-Nung Kuei
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