Press Release

2019-11-27

TII Hosts the 2019 East Asia Pacific Insurance Forum on 25 November 2019

The Taiwan Insurance Institute (TII) hosted the 2019 East Asia Pacific Insurance Forum at Chang Yung-Fa Foundation International Convention Center on 25 November 2019. Around 210 participants including speakers and executives of the insurance institutes and companies from Switzerland, United States, Japan, Korea, Vietnam, Philippines and Taiwan attended the annual Forum.

TII, The General Insurance Institute of Japan(GIIJ) and Korea Insurance Development Institute (KIDI) are long term MOU partners with cordial friendship. TII signed MOU with GIIJ, KIDI, Insurance Association of Vietnam(IAV) and Philippine Life Insurance Association(PLIA) in 2009, 2012, 2017 and 2019 respectively. The Forum is designed to enhance the cooperation of insurance industries among East Asia markets through sharing resources. TII in conjunction with GIIJ, KIDI, IAV and PLIA have invited experts to share experiences and expertise with each other.

The theme of the Forum has been developed as “New Asia, new era”, and this Forum discussed common issues among the five insurance industries, including the insurance new trend in the digital era and responses to the change of insurance landscape. Topics for the discussion sessions include the future of insurance-how the exponential technologies transcend the world? How to use insurance technology to improve the effectiveness of the insurance value chain, InsurTech: new application for the digital era, income investments for an ultra-low rate world, IFRS17 implementation and key challenges in Korea, how does the Philippines adopt the new financial regulations(IFRSs, ICS…), the impact of prolonged low interest rate on insurance industry, the impact of FSB’s TCFD on insurance industry, responding to the aging society, connecting to be connected- Vietnamese millennials, talent cultivation for future work of insurance industry.

Speakers of the Forum from Switzerland, United States, Japan, South Korea, Vietnam, the Philippines and Taiwan shared their insights, expertise and experience on various leading issues in the field of insurance. The participants also had pleasant discussion with each other. The Forum successfully built up a mechanism for the interaction among IAIS, AICPCU, GIIJ, KIDI, IAV, PLIA and TII. Through this Forum, it is hoped that the insurance industries in the East Asia Pacific region could get together to create a better future.

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TII Hosts the 2019 East Asia Pacific Insurance Forum on 25 November 2019

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