Press Release

Fri Oct 27 14:48:00 CST 2017

2017 Conference on ERM in the Insurance Industry Press Release

Organized by the Taiwan Insurance Institute under the supervision of the Financial Supervisory Commission, the 2017 Conference on ERM in the Insurance Industry held at the Chang Yung-Fa Foundation International Convention Center from October 26 to 27, 2017. The co-organizers of the event include the Motor Vehicle Accident Compensation Fund, the Taiwan Residential Earthquake Insurance Fund, and the Taiwan Insurance Guaranty Fund.

The Taiwan Insurance Institute, the organizer of this annual event, indicated that the Conference becomes one of the most important events of the insurance industry because it has had high attendance and good reputations recognized by the practitioners since its debut in 2011.  In view of rapid pace of social, economic and technological changes, the insurance industry has faced the enormous challenges in recent years.  For this reason, the theme of 2017 Conference was decided to be the “Risks and Opportunities of the Future.”

This year’s presenters of the Conference include Mr. Ramon Calderon, the Director of International Policy, NAIC and Mr. Raj Singh, Group Executive and Chief Risk Officer of Standard Life. They presented about the Insurance Capital Standard and the US Regulatory Outlook and Generational Diversity and the Impact on Strategic Risk, respectively, offering good references for Taiwan’s regulators to formulate relevant standards. For hot topics like the InsurTech and Big Data, Dr. Amy Gibbs and Dr. Jin-Chuan Duan shared on how to utilize InsurTech and Big Data against risks and how to apply the innovative technology and thinking to the market and regulatory supervision. Additionally, two experts from the insurance field, Mr. Michael Owen and Mr. Alessandro Papa, talked the “Uses of an Economic Capital Model” and “From Quantification to Decision Making” from a theoretical and practical point of views, separately. Through their valuable experience sharing on asset liability management and risk quantification, insurers gained a deeper understanding of the impact and results of strengthening internal model management and corporate decision making.

The organizers of the event strongly hoped this conference would open the door to more enthusiastic discussions on international risk management in the future to discover challenges and problems that further enabled regulators and insurers to prepare appropriate responsive measures and to develop a more sound risk management and solvency system.

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2017 Conference on ERM in the Insurance Industry -“Risk and Opportunities of the Future” 10/26-27, Taipei

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