Press Release

Taiwan Insurance Institute Held Industry-Academy Cooperation Forum for IFRS 17 Talent Cultivation

The Taiwan Insurance Institute (TII) held the Industry-Academy Cooperation Online Forum on September 22. Through in-depth discussions between universities famous in insurance and actuarial fields and leading insurance companies in Taiwan, the Forum inspired the participants to find out ways to better combine theories with practices, making joint-efforts to foster domestic talents in the insurance industry, in particular for future adoption of IFRS 17.

TII Chairman Hsien-Nung Kuei pointed out that in preparing for the implementation of IFRS 17 and Insurance Capital Standard (ICS) 2.0, the Financial Supervisory Commission (FSC) instructed TII to set up a platform to accelerate collaboration between the insurance industry and the academy. In order to fill domestic talent gap in actuarial, accounting and IT fields, TII is bridging schools and companies to accelerating next-generation talent development.

Eight participated universities, including Chihlee University of Technology, Feng Chia University, Fu Jen Catholic University, National Chengchi University, National Kaohsiung University of Science and Technology, National Taipei University of Business, Soochow University and Tamkang University, have signed memoranda with TII for cooperation. With discussions between these universities and 19 life insurance companies as well as 15 non-life insurance companies, more internship opportunities have been opened, and the universities would introduce such innovative programs as seminars and co-teaching with practitioner to combine theories with practices. It is also suggested that TII be the window to facilitate relevant work, enhancing connection between the academy and the insurance industry.

Taiwan expects to adopt “IFRS 17: Insurance Contracts” and ICS 2.0 in 2026, which will require evaluation of insurance liabilities at fair value. TII, established in 1985, is a non-profit organization to facilitate safe and sound development of the insurance industry in Taiwan. The Forum held by TII helps to establish a good channel for communication and resource matching between universities and industry, which is conducive to the cultivation of talents needed by domestic insurance industry for the adoption of IFRS17.

Photo

  • TII Chairman Hsien-Nung Kuei (right2) and President Jeremy Kan(left2)

    TII Chairman Hsien-Nung Kuei (right2) and President Jeremy Kan(left2)